Does adoption of social distancing policy during a health crisis e.g., COVID-19 hurt economies compared to those that did not? We apply Generalized Synthetic Control Method—based on a machine learning approach in the intermediate stage —to assess the economic impact. We do so by exploiting...

Financial crises are nothing new in the annals of history of the capitalistic path of economic development; indeed, they are part of business cycle. The theoretical basis for this is well entrenched in the concept of 'Keynesian Cross'. Tales of crises date back centuries, but have taken a new...