Pandemic Risk Management in Operations & Finance: Modeling the Impact of Covid-19. Desheng Dash Wu – David L. Olson. Switzerland Springer, 2020.

ABOUT THE BOOK:

COVID-19 has hit the world hard, causing tremendous structural change. The impact on global supply chains has been severe. It has also affected financial operations. What is needed are analytic tools to aid in dealing with the impact of the pandemic on our economies. These analytic tools are not panaceas, and certainly would not cure the problems we face. But they provide the means to aid governments, firms, and individuals to cope with specific problems.

This book provides an overview of COVID-19 progression and evaluates the impact on financial and supply chain operations. Progress of COVID-19 around the globe is reviewed, followed by epidemic modeling. Sources of quantitative data, as well as text data, are presented. Models are applied to view the impact of the pandemic on supply chains, on macroeconomic performance, and on financial operations. Specific experiences of the Chinese banking system are related, with predictions of the impact on Swedish banking. Models related to pandemic planning include evaluation of financial contagion, debt risk analysis, and health system efficiency performance. Specific models of pandemic parameters are discussed.

Pandemics put a strain on economies, due to the need to provide medical resources as well as the need to control the population to halt disease spread.

COVID-19 is expected to have a major impact in setting back global economic development. Obviously, the longer lockdowns are imposed, the greater is the economic impact. If some areas of the global economy begin to recover, there might be less reticence to wait before opening up economies on the part of other regions or countries. The choice is complete safety and starvation or coping with what nature throws at us and move on. It will be interesting to see the relative success of the two extremes on this dichotomy with respect to response to one of nature’s challenges.

The book seeks to provide simple explanations and demonstrations of some descriptive tools. Models are demonstrated using available data of the ongoing COVID-19 pandemic.

About the Editors:

Desheng Wu, University of Chinese Academy of Sciences and Stockholm University, Beijing, Beijing, China.

David L. Olson, Department of Supply Chain Management and Analytics, University of Nebraska-Lincoln, Lincoln, NE, USA.

John Birge, University of Chicago Booth School of Business, Chicago, IL, USA

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