Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021
We study the effects of fiscal policy in response to the COVID-19 pandemic at the firm, sector, country and global … level. First, we estimate the impact of COVID-19 and policy responses on small and medium sized enterprise (SME) business …. We find that: (d) a sizable share of the global economy is demand-constrained under COVID-19, especially so in EMs. (e …