As Indian economy was crippling due to its poverty ratio and lack of education in the society and its increasing unemployment rate, the coronavirus was making its way in the Indian roads. The first case in India of COVID-19 patient was reported on 30th Jan 2020 and that person had travel from...

This paper investigates the impact historically of aggregate price shocks on financial stability in the United Kingdom. We construct an annual index of U.K. financial conditions for 1790-1999 and use a dynamic probit model to estimate the effect of aggregate price shocks on the index. We find...

The paper discusses a model in which growth is a negative function of fiscal burden. Moreover, growth discontinuously switches from high to low as fiscal burden reaches a critical level. Growth collapse is associated with a Sudden Stop of capital inflows, real depreciation and a drop in output...

By employing Text Mining methods such as Structural Topic Modeling to examine all 2,135 speeches by ECB Executive Board members between February 1997 and October 2019, this paper identifies and analyses a significant semantic change that occurred in ECB communication in the transition from Great...

I examine the relation between Federal Reserve emergency actions and aggregate U.S. systemic risk during the Global Financial Crisis (GFC) and the COVID-19 crisis. I divide these actions in to three categories: lender of last resort (LLR), liquidity provision, and open market operations (OMO)....

Hospitals in Japan have complete autonomy in deciding whether to admit COVID-19 patients, similar to that of the US. Taking this into account, we estimated the effect of admitting COVID-19 patients on hospital profits, using instrumental variable (IV) regression. Using IVs related to government...

Do crises make people more prosocial? And what role does communication play in promoting such attitudes and behavior? These answers matter for post-crisis economic recovery as social capital has been linked to growth. We leverage the incidence of COVID-19 --a multifaceted global crisis-- and...

La versión española de este artículo se puede encontrar en: http://ssrn.com/abstract=3858999During the last years, there has been an increase in the use of derivative instruments, in addition to significant losses reported by companies and financial institutions, putting the appropriate use...

On 20 January 2009, upon having been sworn in as the forty-fourth Presi­dent of the United States, Barack Obama stood on the Washington Mall and proclaimed, 'We are in the midst of crisis'. Obama's claim to crisis characterized a moment in history, so as to mark off a new age, or a 'journey'....

We first present a simple model of post-crisis policymaking driven by both public and private interests. Using a novel dataset covering 94 countries between 1973 and 2015, we then establish that financial crises can lead to government interventions in financial markets. Consistent with a public...