renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery … from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In …

We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with … play during the epidemic. According to our results, treating the observed output contraction as a standard recession leads … economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, despite …

COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis …, as well as smaller firms, suffered relatively more financial stress in some economies in the early stages of the crisis …

-up to the 2007-09 global financial crisis; (2) the increase in housing demand in response to lower mortgage interest rates …

, more liberalized financial markets, higher pre-crisis growth, lower fiscal stimulus, higher ethnic and religious …