We measure whether religious people in the UK cope better during a large negative shock - the nationwide pandemic lockdowns. We use data from the Understanding Society longitudinal dataset, including self-reports on religion and religiosity taken before the pandemic, and mental health data on...

This paper investigates the effect of crises on the intra-household allocation of resources. To study this issue, I use survey data from Mexico and estimate a structural model of household behavior to recover how much resources are allocated to each household member. Then, I construct a proxy...

The coronavirus pandemic triggered strong political action across Europe. Mandatory restrictions to increase social distancing were imposed, commonly known as lockdowns. In some cases, entire countries were virtually locked down for several weeks at a time, contributing to a very severe downturn...

We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR) model. We report three main results. First, the decline...

This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group affiliation during a market collapse, but are...

In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...

The unprecedented consequences of the Covid-19 pandemic have raised concerns about intensified social unrest, but evidence for such a link and the underlying channels is still lacking. We use a unique combination of nationally representative survey data, event data on social unrest, and data on...

In this paper, we focus on the role of different types of crises (technological crises, financial market crises, natural disasters) and their effects on the demand for cash in an international context. It becomes evident that over the past 30 years cash demand always increased in times of...