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There is an important interdependence between economic, financial and health policy actions. The recent Covid-19 crisis has demonstrated that, apart from the direct economic consequences from illness and death from the virus, the main economic and financial costs have been due to the varying...
Persistent link: https://www.econbiz.de/10012286510
US government bond illiquidity measures began rising during the last week of February 2020. Several of them surpassed the Great Recession levels during the second week of March. Illiquidity spikes do not seem to match with proposed explanatory events. The illiquidity measures of the most...
Persistent link: https://www.econbiz.de/10012832127
We assess how countries’ fiscal policies during COVID-19 pandemic influenced the effects of the Pandemic Emergency Purchase Programme (PEPP) on sovereign bond Option-Adjusted Spreads. Using a cross-sectional regression model with country and time-fixed effects, we analyse a sample of 1,368...
Persistent link: https://www.econbiz.de/10015397021
Persistent link: https://www.econbiz.de/10012697406
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely...
Persistent link: https://www.econbiz.de/10013541792
The COVID-19 pandemic had disastrous effects on health and economic activity worldwide, including in the Euro Area. The application of mandatory lockdowns contributed to a sharp fall in production and a rise in unemployment, inducing an expansionary fiscal and monetary response. Using a uniquely...
Persistent link: https://www.econbiz.de/10013455597
Over the past few years, some observers have been warning that the Fed needs to update its operating framework to include a level target and the ability to implement direct cash transfers in special situations like the current crisis. They make the case that it is better for the Fed to provide...
Persistent link: https://www.econbiz.de/10012838303
The coronavirus pandemic triggered strong political action across Europe. Mandatory restrictions to increase social …, Sweden, served as an outlier. It restricted the spread of the virus primarily through voluntary measures rather than strict … lockdowns. In this study, we compare the health and economic outcomes in Sweden with those of comparable Western European …
Persistent link: https://www.econbiz.de/10014390569
Persistent link: https://www.econbiz.de/10014531971
Our paper picks up the current controversial debate about increasing (income) inequality due to recent monetary policy measures in major advanced economies. We use a VAR framework identified with sign restrictions to figure out how income in- equality related measures react to monetary policy...
Persistent link: https://www.econbiz.de/10011647171