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The Joint Research Centre (JRC) is the European Commission's science and knowledge service which employs scientists to carry out research in order to provide independent scientific advice and support to EU policy.
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The availability of financial buffers can be used to assess the vulnerability of households following lockdown measures and potential income losses. In many EU countries, the fraction of households with savings of less than 1000 euros is at least 20% of the population. In most EU countries, more than half of the households have liquid savings worth less than two months’ income. Workers in the retail and tourism ("accommodation and food") sectors are particularly vulnerable as they have less than one monthly income as a financial buffer. This will most likely affect Southern European countries where tourism constitutes a larger share of GDP. Income support is particularly important for those households that have insufficient financial buffers.
This report adapts the narrative on resilience to the context of the COVID-19 emergency. It stresses how societal resilience needs to be tackled with a 360-degrees system approach, which helps to look at complexities and interconnections. The COVID-19 pandemic impacts our society at different levels and with different intensity. To respond in a resilient way, different resilience capacities need to be evoked. The COVID-19 shock is so extreme in its duration and intensity that it is simply impossible to address it through absorptive capacities or a simple adaptation of the system. Therefore, it should become an opportunity to progress and “bounce forward” through adaptation and transformation. The role of policies would be to provide the necessary positive impulses for it, with a mix of prevention, preparation, protection, promotion and transformation measures. The report concludes by suggesting some strategic actions to respond to the Covid-19 crisis.
This chapter proposes a multidimensional approach to measure the resilience of EU regions as a response to the economic-financial crisis 2008-2012. Starting from the hypothesis that the mere economic behaviour of a region is not sufficient to fully understand the regional reaction to a shock, it proposes an innovative approach which includes dimensions related both to economic as well as aspects related to societal well-being. It develops three different resilient regional indicators related to the three periods considered: the impact of the aftermath of the crisis, the medium run, which covers the 2007-2016 time span, and the bounce forward which measures the ability of each region to outperform, or not, as compared to the pre-crisis period. The chapter develops also a methodology to understand which region showed a resilient behaviour before and after the crisis, whether the time dimension played a significant role in determining a resilient response and whether it is possible to identify regional and country-level characteristics associated to a resilient behaviour.
You can find the link to the handbook here
This study presents an empirical analysis of the resilience of European countries to the financial and economic crisis that started in 2007.
The analysis addresses the following questions:
It selects a number of key economic and social variables that aim to capture the resilience capacities of our society. Resilience is measured by investigating the dynamic response of these variables to the crisis in the short and medium run. In particular, we define four resilience indicators: the impact of the crisis, the recovery, the medium-run, and the ‘bouncing forward’.
This paper provides an overview of a conceptual framework for resilience to facilitate a common understanding and the incorporation of resilience into policy thinking. It answers the question of What is resilience.
Resilience is defined as the ability to face shocks and persistent structural changes in such a way that societal well-being is preserved, without compromising the heritage for future generations. Hence, our society should be resilient in a sustainable manner.
It was developed in consultation with several Directorate Generals of the European Commission, participating in the Research Network on the Measurement of Resilience, which was jointly established by JRC and EPSC in 2016.
The framework also guides JRC work plans in 2017-18, aiming at establishing a measurement and monitoring system for resilience.