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How Did U.S. Consumers Use Their Stimulus Payments?
Coibion, Olivier - 2020
Using a large-scale survey of U.S. consumers, we study how the large one-time transfers to individuals from the CARES Act affected their consumption, saving and labor-supply decisions. Most respondents report that they primarily saved or paid down debts with their transfers, with only about 15...
Persistent link: https://www.econbiz.de/10012824591
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Will Germany's Temporary VAT Tax Rates Cut as Part of the COVID-19 Fiscal Stimulus Package Boost Consumption and Growth?
Funke, Michael; Terasa, Raphael - 2021
On 3 June 2020, the German government announced a EUR 130 billion fiscal stimulus package to stimulate market demand and jumpstart the economy in the wake of the COVID-19 pandemic lockdown in the spring of 2020. The most prominent measure of this package is an unconventional fiscal policy in the...
Persistent link: https://www.econbiz.de/10013314775
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COVID-19 Outbreak, Social Response, and Early Economic Effects : A Global VAR Analysis of Cross-Country Interdependencies
Milani, Fabio - 2020
explain not only the spread of the disease, but also cross-country spillovers in perceptions about coronavirus risk and in … social distancing behavior. In the early phases of the pandemic, perceptions of coronavirus risk in most countries are … adjustments. Unemployment responses vary widely across countries. Unemployment is particularly responsive to health shocks in the …
Persistent link: https://www.econbiz.de/10012824578
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To React or Not? Fiscal Policy, Volatility and Welfare in the EU-3
Malley, Jim - 2008
This paper develops a dynamic stochastic general equilibrium model to examine the quantitative macroeconomic implications of countercyclical fiscal policy for France, Germany and the UK. The model incorporates real wage rigidity which is the particular market failure justifying policy...
Persistent link: https://www.econbiz.de/10012773638
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The COVID-19 Pandemic and the Degree of Persistence of US Stock Prices and Bond Yields
Caporale, Guglielmo Maria; Gil-Alana, Luis A.; Poza, Carlos - 2021
This paper analyses the possible effects of the Covid-19 pandemic on the degree of persistence of US monthly stock prices and bond yields using fractional integration techniques. The model is estimated first over the period January 1966-December 2020 and then a recursive approach is taken to...
Persistent link: https://www.econbiz.de/10013235116
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The Association of Opening K-12 Schools and Colleges with the Spread of COVID-19 in the United States : County-Level Panel Data Analysis
Chernozhukov, Victor; Kasahara, Hiroyuki; Schrimpf, Paul - 2021
This paper empirically examines how the opening of K-12 schools and colleges is associated with the spread of COVID-19 using county-level panel data in the United States. Using data on foot traffic and K-12 school opening plans, we analyze how an increase in visits to schools and opening schools...
Persistent link: https://www.econbiz.de/10013239567
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The Effects of the COVID-19 Pandemic on Stock Markets, CDS and Economic Activity : Time-Varying Evidence from the US and Europe
Caporale, Guglielmo Maria; Catik, Abdurrahman Nazif; … - 2021
This paper examines the effects of the COVID-19 pandemic on stock returns, CDS and economic activity in the US and the five European countries (the UK, Germany, France, Italy, and Spain) which have been most affected. The sample period covers the dates from the first confirmed COVID-19 cases in...
Persistent link: https://www.econbiz.de/10013211119
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Early Effects of the COVID-19 Pandemic on Housing Market in the United States
Yoruk, Baris - 2020
I use daily data from fifty major cities to investigate the early effects of the COVID-19 pandemic on housing market in the United States. I find that starting from the second half of March, 2020, new home listings and pending home sales started to decrease. By mid-April, certain markets...
Persistent link: https://www.econbiz.de/10012832081
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Social Distancing and the Economic Impact of COVID-19 in the United States
Bürgi, Constantin; Gorgulu, Nisan - 2021
This study documents how the demographics of new infections and mortality changed over time across US counties. We find that counties with a larger population share aged above 60 were hit harder initially in terms of both cases and mortality in March and April while counties with a larger...
Persistent link: https://www.econbiz.de/10013315292
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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