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While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a first analysis of robust determinants of observed initial output losses using model-averaging techniques-Weighted Average Least Squares and Bayesian Model Averaging. The results...
Persistent link: https://www.econbiz.de/10012517923
Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability...
Persistent link: https://www.econbiz.de/10012605125
We use high-frequency indicators to analyze the economic impact of COVID-19 in Europe and the United States during the early phase of the pandemic. We document that European countries and U.S. states that experienced larger outbreaks also suffered larger economic losses. We also find that the...
Persistent link: https://www.econbiz.de/10012299321
We study how financial frictions amplify labor supply shocks in a macroeconomic model with occasionally binding financing constraints. Workers supply labor to entrepreneurs who borrow to purchase factors of production. Borrowing capacity is restricted by the value of capital, generating a...
Persistent link: https://www.econbiz.de/10012302066
and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where … workers. Unlike during the Global Financial Crisis, however, employment in social industries fell more whereas employment in …
Persistent link: https://www.econbiz.de/10012251998
Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They … are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can … reverse gains in development and jeopardize the well-being of generations. Managing risks such as these becomes a global …
Persistent link: https://www.econbiz.de/10014411688
In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the … international organizations attempted to assess the "greenness" of the fiscal policy response of the world's largest economies. This …
Persistent link: https://www.econbiz.de/10012796277
renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery …
Persistent link: https://www.econbiz.de/10012251398
Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions …. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in … global financial conditions, there is a large degree of heterogeneity in the sensitivity of each country to this same global …
Persistent link: https://www.econbiz.de/10012518283
global datasets. During the pandemic, fiscal frameworks were put to test. The widespread use of escape clauses was one of the …
Persistent link: https://www.econbiz.de/10013170563