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U.S. And Euro Area Monetary and Fiscal Interactions During the Pandemic : A Structural Analysis

Hodge, Andrew; Jakab, Zoltan; Lindé, Jesper; Nguyen, … - 2022

This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the pandemic. Moving from a previous target of “below, but close to 2 percent” to a formal...

Persistent link: https://www.econbiz.de/10014237881

Understanding U.S. Inflation During the COVID Era

Ball, Laurence M.; Leigh, Daniel; Mishra, Prachi - 2022

This paper analyzes the dramatic rise in U.S. inflation since 2020, which we decompose into a rise in core inflation as measured by the weighted median inflation rate and deviations of headline inflation from core. We explain the rise in core with two factors, the tightening of the labor market...

Persistent link: https://www.econbiz.de/10014238516

Updating Inflation Weights in the UK and Germany During COVID-19

Grigoli, Francesco; Pugacheva, Evgenia - 2022

The COVID-19 pandemic altered consumption patterns significantly in a short period of time. However, official inflation … statistics take time to reflect these changes in the weights of the CPI consumption basket. Using credit card data for the UK and … Germany, we document how consumption patterns changed and we quantify the resulting inflation bias. We find that consumers …

Persistent link: https://www.econbiz.de/10014238519

Unpacking Impact of COVID-19 on Vietnamese Firms : Evidence from a Novel Survey

Dabla-Norris, Era; Nguyen, Anh Thi Ngoc; Zhang, Y. Sophia; … - 2022

Using a unique representative panel survey of Vietnamese enterprises in 2020, we find that the pandemic and associated government support package had a heterogenous impact across firms. The government support package, particularly tax cuts and deferrals, helped alleviate short term stress, but...

Persistent link: https://www.econbiz.de/10014238521

Shock Absorbers or Transmitters? The Role of Foreign Banks During COVID-19

Sen, Anamika; Yao, Weijia; Yépez, Juan F. - 2022

This paper studies whether bank ownership influenced lending behavior during the COVID-19 shock. It finds that, similar to previous episodes of financial distress, foreign banks appear to have played a shock-transmitting role, as there was a sharp slowdown in lending by foreign banks’...

Persistent link: https://www.econbiz.de/10014239345

Private Savings and COVID-19 in Sub-Saharan Africa

Loko, Boileau; Nembot, Nelie; Poplawski-Ribeiro, Marcos - 2022

The paper reexamines the main private savings determinants in Sub-Saharan Africa (SSA), followed by an analysis of the COVID-19 pandemic impact on private savings in SSA and other country groupings. Using an unbalanced panel data from 1983−2021 for 31 SSA economies, the paper finds that real...

Persistent link: https://www.econbiz.de/10014239600

Rising Child Poverty in Europe : Mitigating the Scarring from the Covid-19 Pandemic

Hallaert, Jean-Jacques; Vassileva, Iglika; Chen, Tingyun - 2023

Child poverty increased dramatically during the COVID-19 pandemic. In 2020 alone, the number of children suffering from poverty in the EU increased by 19 percent, or close to 1 million. Left unaddressed, this would not only affect individuals’ life prospects and well-being but also have...

Persistent link: https://www.econbiz.de/10014344162

Corporate Vulnerabilities in Vietnam and Implications of COVID-19

Kroeger, Thilo; Anh Thi Ngoc Nguyen; Zhang, Y. Sophia; … - 2021

The paper uses firm-level data to assess the financial health of the Vietnamese non-financial corporate sector on the eve of pandemic. Our analysis finds that smaller domestic firms were particularly vulnerable even by regional comparison. A sensitivity analysis suggests that the COVID-19 shock...

Persistent link: https://www.econbiz.de/10013249409

A Tip Against the COVID-19 Pandemic

Chérif, Réda - 2020

A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i) an epidemiological rather than clinical approach to testing, sacrificing accuracy for scalability, convenience and speed; and (ii) state intervention to ramp up production,...

Persistent link: https://www.econbiz.de/10012827589

The Distributional Impact of Recessions : The Global Financial Crisis and the Pandemic Recession

Shibata, Ippei - 2020

Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...

Persistent link: https://www.econbiz.de/10012828220