We develop a new monthly indicator of supply bottlenecks using newspaper articles. The supply bottlenecks index (SBI) provides a consistent narrative of supply issues related to wars, natural disasters, strikes and, most recently, the COVID-19 pandemic. Innovations in the SBI have important...

English Abstract: The persistence of the health crisis made it necessary for the main advanced economies to approve fresh fiscal measures or extend the terms of those that expired. This paper summarises the main actions taken since autumn 2020 in the main euro area economies (Germany, France,...

Loans to Member States under the SURE programme were part of the unprecedented European Union (EU) response to the COVID-19 crisis in 2020-2021. Resources were used to finance countries’ public spending on temporary unemployment schemes. The EU raised funds on the capital markets by issuing...