This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an … focus on the size and the direction of international spillovers - both from the shock itself and from the ensuing fiscal … lifetimes, the responses of output and inflation are amplified compared to the case with infinitely lived households. Finally, a …

demand and supply shocks. The results show that higher macroeconomic uncertainty, as measured by higher world industrial …

declines in output, inflation, and the interest rate. Moreover, we document strong global impacts, making the world move in a … setting, we find that US interest rate uncertainty not only drives local output and inflation volatility, but also causes …

Recent research has argued that the COVID-19 shock has also brought about a reallocation shock. We examine the evidence … a reallocation shock; we find that it has played a relatively minor role in explaining labor market patterns in the …

model (FAVAR). From a set of non-energy commodity price series, we extract two factors, which we identify as common trends … in metals and a food prices. These factors are included in a FAVAR model together with selected macroeconomic variables …

additional insights on both first and higher moments of the GDP growth distribution. If a recession is due to an unforeseen shock …

In response to the coronavirus (Covid-19) pandemic, there has been a complementary approach to monetary and fiscal …

updated as soon as new regional data is released, as we show by measuring the economic effects of coronavirus. Second, it … provides a consistent narrative of the main regional contributors of world economy's weakness. Third, it allows to perform …