Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2020 - First draft: April 4th 2020, this draft: May 21, 2020
stock market crash induced by the COVID-19 pandemic, as well as during the subsequent partial stock market recovery. We … market high, (ii) on March 11-12, after the stock market had collapsed by over 20%, and (iii) on April 16-17, after the … short-run performance of both the stock market and the real economy. Investors also perceived higher probabilities of both …