Coronavirus: CSH predicts high losses for Austrian economy - CSH

Coronavirus: CSH predicts high losses for Austrian economy


Feb 13, 2020

Coronavirus outbreak could cause losses of € 1.1 billion to Austria’s economy

 

The manufacturing sector will be the most affected.

 

The coronavirus (Covid-19) epidemic in China will have severe effects on the Austrian economy. According to calculations by the Complexity Science Hub Vienna (CSH), especially companies that manufacture electronic and optical products, machines and machine parts, motor vehicles and motor vehicle parts will have to be prepared for losses.

 

For their forecast the CSH scientists are using their newly developed economic model. “The model maps all international trade links that are relevant to Austria,” explains complexity researcher Peter Klimek. “Knowing trade networks worldwide we not only see direct effects of economic shocks, we can also calculate indirect effects on individual economies”, adds Klimek. The model allows predictions about the impact of shocks in one country on economies worldwide.

 

CSH president Stefan Thurner: “Previous calculations on Covid-19 simply scale up the costs of the SARS epidemic in 2003. But the Chinese economy has grown by a factor of 6 since 2003, and consumption in China has become a driving force of the global economy. The dimension of an epidemic in present-day China cannot be compared to 2003.”

 

For China, Peter Klimek, Tobias Reisch and Stefan Thurner predict losses in trade and tourism of € 90 billion. The calculations are based on the current state of the epidemic. In total the costs could add up to € 300 billion or 2.5% of the Chinese GDP, the scientists state.

 

About the CSH Vienna

 

The Complexity Science Hub Vienna was founded with the aim of using Big Data for the benefit of society. Among other things, the CSH prepares large data sets in such a way that they can be used in agent-based models. These simulations allow the effects of decisions in complex situations to be tested and assessed in advance. The CSH thus provides fact-based foundations for evidence-based decisions (“evidence-based governance”).

(c) CSH Vienna

Find here our German press release.


News

Apr 3, 2020

Corona | How measures work [April]

News

Apr 3, 2020

CSH successful in WWTF COVID-19 call

Press

Coronavirus – Neue Datenbank mit staatlichen Maßnahmen


APA Science, Apr 3, 2020

News

Apr 3, 2020

Corona | Confirmed cases [April]

News

Apr 3, 2020

Corona | Emotions [German & English]

Press

Regierungsberater: “Diese Daten sind überlebensnotwendig”


Die Presse, Apr 2, 2020

Press

Gut gemachte Apps können bei der Krisenbewältigung helfen


Kurier, Mar 31, 2020

Press

Knapp 1000 Corona-Patienten in stationärer Behandlung


Wiener Zeitung, Mar 30, 2020

Event

[cancelled] CSH Workshop: “Communicating complex climate issues with deliberative democracy”


May 11, 2020May 12, 2020

CSH Vienna

Event

[cancelled] CSH External Faculty Meeting 2020


May 26, 2020

CSH Vienna

Event

[cancelled] CSH Public Conference: “Complexity science as a transformative power”


May 25, 2020

CSH Vienna

Event

[cancelled] CSH Workshop: “Understanding online emotional communication”


Apr 23, 2020

News

Apr 3, 2020

Corona | How measures work [April]

News

Apr 3, 2020

CSH successful in WWTF COVID-19 call

Press

Coronavirus – Neue Datenbank mit staatlichen Maßnahmen


APA Science, Apr 3, 2020

News

Apr 3, 2020

Corona | Confirmed cases [April]

News

Apr 3, 2020

Corona | Emotions [German & English]

Press

Regierungsberater: “Diese Daten sind überlebensnotwendig”


Die Presse, Apr 2, 2020

Press

Gut gemachte Apps können bei der Krisenbewältigung helfen


Kurier, Mar 31, 2020

Press

Knapp 1000 Corona-Patienten in stationärer Behandlung


Wiener Zeitung, Mar 30, 2020

Event

[cancelled] CSH Workshop: “Communicating complex climate issues with deliberative democracy”


May 11, 2020May 12, 2020

CSH Vienna

Event

[cancelled] CSH External Faculty Meeting 2020


May 26, 2020

CSH Vienna

Event

[cancelled] CSH Public Conference: “Complexity science as a transformative power”


May 25, 2020

CSH Vienna

Event

[cancelled] CSH Workshop: “Understanding online emotional communication”


Apr 23, 2020

News

Apr 3, 2020

Corona | How measures work [April]

News

Apr 3, 2020

CSH successful in WWTF COVID-19 call

News

Apr 3, 2020

Corona | Confirmed cases [April]

News

Apr 3, 2020

Corona | Emotions [German & English]

News

Apr 2, 2020

CCCSL: CSH Covid-19 Control Strategies List available now

News

Apr 1, 2020

Corona | Wirksamkeit der Massnahmen [März]

News

Mar 30, 2020

Apps can help with emotions in times of crisis [DE & EN]

News

Mar 22, 2020

Pooling samples could boost corona test efficiency

News

Mar 17, 2020

Corona | CSH refocuses its research

News

Mar 14, 2020

Coronavirus: Kapazitäten bei Spitalsbetten

News

Feb 28, 2020

Simply complex | Einfach komplex

News

Feb 25, 2020

US-China Trade Agreement

Event

[cancelled] CSH Workshop: “Communicating complex climate issues with deliberative democracy”


May 11, 2020May 12, 2020

CSH Vienna

Event

[cancelled] CSH External Faculty Meeting 2020


May 26, 2020

CSH Vienna

Event

[cancelled] CSH Public Conference: “Complexity science as a transformative power”


May 25, 2020

CSH Vienna

Event

[cancelled] CSH Workshop: “Understanding online emotional communication”


Apr 23, 2020

Event

[cancelled] CSH–OeAW Lecture by Ronnie Ellenblum: “‘Resilience’ or ‘Fragility’? Reconsidering Climate and Historical Civilizations”


Mar 11, 2020 | 15:0016:30

ÖAW

Event

[cancelled] CSH Talk by Mirsad Hadzikadic: “Data Science, Machine Learning, Artificial …”


Mar 13, 2020 | 15:0016:00

CSH Vienna

Talk

“Complex privacy”


David Garcia.

May 14, 2020May 15, 2020

Event

CSH Talk by Christiane Puchhammer: “Dimensional reduction through metric pseudo-time”


Mar 06, 2020 | 15:0016:00

CSH Vienna

Event

[cancelled] CSH Workshop: “Building non‐Euclidian spaces to measure, understand, and navigate complex social transitions”


Mar 03, 2020 | 9:00Mar 04, 2020 | 17:00

CSH Vienna

Event

CSH Talk by Frank Neffke


Feb 24, 2020 | 14:3015:30

CSH Vienna

Visitor

Frank Neffke, Harvard Kennedy School


Feb 24, 2020

Event

CSH Talk by Achim Edelmann: “What shapes scientists’ position taking in contested public debates?”


Feb 20, 2020 | 14:0015:00

CSH Vienna

Press

Coronavirus – Neue Datenbank mit staatlichen Maßnahmen


APA Science, Apr 3, 2020

Press

Regierungsberater: “Diese Daten sind überlebensnotwendig”


Die Presse, Apr 2, 2020

Press

Gut gemachte Apps können bei der Krisenbewältigung helfen


Kurier, Mar 31, 2020

Press

Knapp 1000 Corona-Patienten in stationärer Behandlung


Wiener Zeitung, Mar 30, 2020

Press

8.552 Coronavirus-Fälle Sonntagvormittag in Österreich


Vorarlberg Online, Mar 29, 2020

Press

Infektionen in Österreich abgeflacht, Plus bei Toten


Vorarlberg Online, Mar 29, 2020

Press

8.552 Coronavirus-Fälle Sonntagvormittag in Österreich


Vienna Online, Mar 29, 2020

Press

Überfluss an Intensivbetten kommt uns jetzt zugute


Kronen Zeitung, Mar 28, 2020

Press

OZBILJNO STANJE U SUSJEDSTVU Austrijski znanstvenik [Croatian]


Direktn, Mar 27, 2020

Press

Wissenschafter warnen: “Maßnahmen nicht zu schnell wieder aufheben”


OÖ Nachrichten, Mar 27, 2020

Press

Erst testen – und dann rückverfolgen


Wiener Zeitung, Mar 27, 2020

Press

Coronavirus: Forscher mit neuen Berechnungen


k.at, Mar 27, 2020