We provide a general equilibrium framework for analyzing the effects of supply and demand side policies, and the potential synergies between them, in an asymmetric monetary union that faces a liquidity trap and a slow deleveraging process in its 'periphery'. We find that the joint implementation...

We estimate the effective reproduction number (Rt) of the current Covid-19 pandemic, with US daily infections data between February and September of 2020, at the county level. This is then used to estimate the effect of weather and mobility on the spread of the pandemic. We find a strong and...

We study the macroeconomic effects of internal devaluations undertaken by a periphery of countries belonging to a monetary union. We find that internal devaluations have large and positive output effects in the long run. Through an expectations channel, most of these effects carry over to the...