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Inequality in the Impact of the Coronavirus Shock : Evidence from Real Time Surveys
Adams-Prassl, Abi - 2020
We present real time survey evidence from the UK, US and Germany showing that the labor market impacts of COVID-19 differ considerably across countries. Employees in Germany, which has a well-established short-time work scheme, are substantially less likely to be affected by the crisis. Within...
Persistent link: https://www.econbiz.de/10012834873
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Globalization in the Time of COVID-19
Sforza, Alessandro - 2020
networks. In this paper we incorporate production barriers induced by COVID-19 shock into a Ricardian model with sectoral … shock has a considerable impact on most economies in the world, especially when a share of the labor force is quarantined …. Moreover, we show that global production linkages have a clear role in magnifying the effect of the production shock. Finally …
Persistent link: https://www.econbiz.de/10012837986
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Unconventional Monetary Policy Shocks in the Euro Area and the Sovereign-Bank Nexus
Hristov, Nikolay - 2020
We explore the effects of the ECB's unconventional monetary policy on the banks' sovereign debt portfolios. In particular, using panel vector autoregressive (VAR) models we analyze whether banks increased their domestic government bond holdings in response to non-standard monetary policy shocks,...
Persistent link: https://www.econbiz.de/10012838235
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The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets
Liu, Emily - 2019
This paper shows that monetary policy and prudential policies interact. U.S. banks issue more commercial and industrial loans to emerging market borrowers when U.S. monetary policy eases. The effect is less pronounced for banks that are more constrained through the U.S. bank stress tests,...
Persistent link: https://www.econbiz.de/10012858696
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Estimating General Equilibrium Spillovers of Large-Scale Shocks
Huber, Kilian - 2021
Researchers use (quasi-)experimental methods to estimate how shocks affect directly treated firms and households. Such methods typically do not account for general equilibrium spillover effects. I outline a method that estimates spillovers operating among groups of firms and households. I argue...
Persistent link: https://www.econbiz.de/10013237223
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Coherence of Output Gaps in the Euro Area : The Impact of the COVID-19 Shock
de Haan, Jakob; Jacobs, Jan P. A. M.; Zijm, Renske - 2022
Using the measures proposed by Mink et al. (2012), we reexamine the coherence of business cycles in the euro area using a long sample period. We also analyze the impact of the COVID-19 pandemic on business cycle coherence and examine whether our measures for business cycle coherence indicate a...
Persistent link: https://www.econbiz.de/10013293282
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Trade with Nominal Rigidities : Understanding the Unemployment and Welfare Effects of the China Shock
Rodriguez-Clare, Andres; Ulate, Mauricio; Vasquez, Jose P. - 2022
empirical literature studying the “China shock.” We find that the China shock leads to average welfare increases in most U …
Persistent link: https://www.econbiz.de/10014244023
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"Too Shocked to Search" the COVID-19 Shutdowns' Impact on the Search for Apprenticeships
Goller, Daniel; Wolter, Stefan C. - 2021
This study is, to the best of our knowledge, the first analysis of apprenticeship supply that allows us to analyse the effects of the shutdowns triggered by the COVID-19 pandemic before, during and after these shutdowns by means of daily searches for vacant apprenticeships. Analysing over 10...
Persistent link: https://www.econbiz.de/10013228861
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International Food Commodity Prices and Missing (Dis)Inflation in the Euro Area
Peersman, Gert - 2019
This paper examines the causal effects of shifts in international food commodity prices on euro area inflation dynamics using a structural VAR model that is identified with an external instrument (i.e. a series of global harvest shocks). The results reveal that exogenous food commodity price...
Persistent link: https://www.econbiz.de/10012892245
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The Impact of Food Prices on Conflict Revisited
Winne, Jasmien De - 2019
Studies that examine the impact of food prices on conflict usually assume that (all) changes in international food prices are exogenous shocks for individual countries or local areas. By isolating strictly exogenous shifts in global food commodity prices, we show that this assumption could...
Persistent link: https://www.econbiz.de/10012861404