Showing 1 - 10 of 12
No previous infectious disease outbreak, including the Spanish Flu, has impacted the stock market as forcefully as the COVID-19 pandemic. In fact, previous pandemics left only mild traces on the U.S. stock market. We use text-based methods to develop these points with respect to large daily...
Persistent link: https://www.econbiz.de/10012837802
We consider several economic uncertainty indicators for the US and UK before and during the COVID-19 pandemic: implied stock market volatility, newspaper-based economic policy uncertainty, twitter chatter about economic uncertainty, subjective uncertainty about future business growth, and...
Persistent link: https://www.econbiz.de/10012830476
explanation for Sweden's weak performance with respect to market work activity highlights the role of high tax rates on labor …
Persistent link: https://www.econbiz.de/10012760495
policy environment in Sweden prior to 1990-91 and compare them to the situation in other European countries and the United … set of policies and institutions, Sweden's employment distribution in the mid-1980s is sharply tilted away from low … countries, Sweden has an unusually high share of employment in large firms. Furthermore, the Swedish rate of self-employment in …
Persistent link: https://www.econbiz.de/10013218095
, the national pension system, employment security laws and centralized wage setting in Sweden reinforced the distortionary … neutral set of policies and institutions, Sweden's employment distribution is sharply tilted away from lower wage industries … establishments. Compared to other OECD economies, Sweden has the lowest rate of self employment, a dominant role for larger firms …
Persistent link: https://www.econbiz.de/10013231571
centralized wage setting on the industry distribution of employment. We examine Sweden's industry distribution from 1960 to 1994 … identify the rise and fall of centralized wage-setting arrangements as a major factor in the evolution of Sweden's industry … accounted for about 40 percent of U.S.-Swedish differences in the industry distribution. The dissolution of Sweden's centralized …
Persistent link: https://www.econbiz.de/10014039683
Drawing on firm-level expectations at a one-year forecast horizon in the Survey of Business Uncertainty (SBU), we construct novel, forward-looking reallocation measures for jobs and sales. These measures rise sharply after February 2020, reaching rates in April that are 2.4 (3.9) times the...
Persistent link: https://www.econbiz.de/10012834457
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators – stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business...
Persistent link: https://www.econbiz.de/10012837188
Firm-level stock returns differ enormously in reaction to COVID-19 news. We characterize these reactions using the Risk Factors discussions in pre-pandemic 10-K filings and two text-analytic approaches: expert-curated dictionaries and supervised machine learning (ML). Bad COVID-19 news lowers...
Persistent link: https://www.econbiz.de/10013247848
Stock prices and workplace mobility trace out striking clockwise paths in daily data from mid-February to late May 2020. Global stock prices fell 30 percent from 17 February to 12 March, before mobility declined. Over the next 11 days, stocks fell another 10 percentage points as mobility dropped...
Persistent link: https://www.econbiz.de/10013251455