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information campaigns - rather than stay-at-home requirements. Using past coronavirus outbreaks as an instrumental variable, we …
Persistent link: https://www.econbiz.de/10012604786
We study the economic effects of information technology (IT) adoption during the COVID-19 pandemic. Using data on IT adoption covering almost three million establishments in the US, we find that technology adoption can partly shield the economy from the impact of the pandemic. In areas where...
Persistent link: https://www.econbiz.de/10012391986
Why do governments in developing economies invest in roads and not enough in schools? In the presence of distortionary taxation and debt aversion, the different pace at which roads and schools contribute to economic growth turns out to be central to this decision. Specifically, while costs are...
Persistent link: https://www.econbiz.de/10011704410
We explore the stability properties of interest rate rules granting an explicit response to stock prices in a New-Keynesian DSGE model populated by Blanchard-Yaari non-Ricardian households. The constant turnover between long-time stock holders and asset-poor newcomers generates a financial...
Persistent link: https://www.econbiz.de/10014411926
Persistent link: https://www.econbiz.de/10011282734
not its permanent and transitory components separately. The model''s predictions under learning differ substantially from … explanations of the Feldstein-Horioka puzzle, learning induces high correlations irrespective of the assumed persistence of shocks …
Persistent link: https://www.econbiz.de/10014400934
This paper considers optimal communication by monetary policy committees in a model of imperfect knowledge and learning … learning about the committee''s decision-making process and policy preferences. When committee members have heterogeneous …
Persistent link: https://www.econbiz.de/10014402811
benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the …
Persistent link: https://www.econbiz.de/10014401641
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/10012252486
Countries have implemented several containment measures to halt the spread of the 2019 coronavirus disease, but it … data on the number of coronavirus disease cases as well as on real-time containment measures implemented by countries …
Persistent link: https://www.econbiz.de/10012300628