Davis, Steven J.; Liu, Dingqian; Sheng, Xuguang - National Bureau of Economic Research - 2021
historically unprecedented - role of pandemic-related developments for stock prices in both countries. The size of the global stock …-country and globally, drove larger declines in national stock prices conditional on pandemic severity, workplace mobility, and … income support and debt relief policies. Looking more closely at the two largest economies, the pandemic had greater effects …