This paper provides an early estimate of the economic effects of the national quarantine policy associated with the COVID-19 pandemic in the United States. Using a measure of digital intensity from Gallipoli and Makridis (2018), we exploit counties' exposure to industries that vary in their...

The Covid-19 pandemic led to a large and immediate decline in households’ aggregate spending and a surge in bank and postal deposits; although little is known about how this was distributed. This paper overcomes the lack of timely micro-data on households’ liquidity by looking at supervisory...

The EU in 2020 is in the midst of a triple crisis of unemployment, public health and environmental collapse. These aspects are deeply intertwined and should be tackled together, since they all reflect structural problems of the European labor market. Job Guarantee is the proposed fiscal tool,...

Governments across the globe have responded to the threat of the Covid-19 virus by imposing substantial lockdown measures largely guided by epidemiological concerns. These lockdowns come at significant economic costs with increased risk of e.g. mass unemployment. Recently, debates have emerged...

In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...

We document the evolution of hours of work using monthly data from February to June 2020. During this period, the Netherlands experienced a quick spread of the SARS-CoV-2 virus, enacted a lockdown for a period of six weeks and gradually opened thereafter. We show that during lock-down,...

The servicer comments are proprietary and hardly accessible; however, they can offer the single best source for real-time information of the mortgages. We utilize these comments to shed light on borrower responses to the mortgage forbearance program contained in the Coronavirus Aid, Relief, and...

Akin to Spanish flue of 20th century, the Coronavirus disease 2019 (COVID-19) pandemic is an unprecedented global emergency of 21st century, bequeathing a crucial impact on lives and livelihoods which triggered phenomenal policy challenges for economic revival. COVID-19 swiftly proliferated all...

Alternative data is transforming the investment management process for financial industry, hedge funds, mutual funds, foundations, and pension funds. This paper describes the use of alternative data on the field of finance, particularly illustrating the complex forces driving the stock markets...

We document the evolution of hours of work using monthly data from February to June 2020. During this period, the Netherlands experienced a quick spread of the SARS-CoV-2 virus, enacted a lockdown for a period of six weeks and gradually opened thereafter. We show that during lock-down,...