We categorize expansionary monetary policies based on interest rates, monetary easing, and liquidity decisions. We find that the stock market reacts positively to liquidity policy announcements by a more significant margin during and after the COVID-19 at market and industry levels compared with...

To control the COVID-19 pandemic, governments worldwide deployed unprecedented policies. Mandatory lockdowns, mobility restrictions, and calls for social distancing and voluntary individual constraints were among the key interventions to reduce exposure risks. The resulting global reductions in...