Traditionally identified monetary shocks in a structural vector autoregression (SVAR) model typically result in long-lasting effects on output and total factor productivity (TFP). In this paper, I argue that the typical monetary shock has been confounded with the news shock about future...

Many countries have adopted lockdown measures to combat the coronavirus (COVID-19) pandemic. The lockdowns in the state of Victoria (VIC), Australia, however, are unique in that the government divides VIC into two distinct areas using Ring of Steel boundary, and consistently places more...