Abstract
The economic crisis triggered by the COVID-19 virus is unique in economic history in its mode and rate of occurrence, global coverage, and consequences. The text reveals the mechanisms of the impact of health shock on the economy and the macroeconomic framework of mitigating and exiting the crisis. It uses the AS-AD macroeconomic model with vertical axis inflation for analysis. Empirical facts illustrate the case of the Republic of Croatia.
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Čavrak, V. (2021). Macro Economic Model of COVID-19 Pandemic Crisis. In: Vidaković, N., Lovrinović, I. (eds) Macroeconomic Responses to the COVID-19 Pandemic. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-75444-0_4
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DOI: https://doi.org/10.1007/978-3-030-75444-0_4
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