The COVID-19 pandemic is unlike any other crisis that we have experienced in that it hit all economies in the world at the same time, compromising the risk sharing ability of nations. At the onset of the pandemic, the World Bank (WB) and the International Monetary Fund (IMF) jointly pledged 1.16...

In response to the COVID-19 pandemic, G7 central banks have launched asset purchase programs in anticipation of an increase in government bond offerings to finance ballooning fiscal deficits. As the volume of government bonds owned by private investors is not expected to rise during the current...

The global downturn caused by the Covid-19 pandemic has the potential to send more than half the nations around the globe into debt distress in the near future. As of this writing, nearly a hundred countries have approached the IMF for assistance. Many, perhaps most, of these countries will need...

Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and temporal variation in the initial spread of Covid-19...

We quantify the macroeconomic effects of COVID-19 for a small open economy by calibrating a SIR-multi-sector-macro model. We measure sectoral supply shocks utilizing teleworking and physical job proximity, and demand shocks with credit card purchases. Both shocks are also affected from changing...

One of the main sources of funding for economic recovery in countries after the COVID-19 pandemic is the increase in public debt. But as a result of the COVID-19 pandemic and the strengthening of new trends in the development of the global economy, the level of uncertainty has greatly increased....

The economic characteristics of the COVID-19 crisis differ from those of previous crises. It is a combination of demand- and supply-side constraints which led to the formation of a monetary overhang that will be unfrozen once the pandemic ends. Monetary policy must take this effect into...

Paper provides an analysis of public debt problem in the Caucasian countries of Armenia, Azerbaijan, Georgia, Iran, Russia and Turkey during the economic crisis under the COVID-19 pandemic. It also discussed some closely related issues, such as inflation, economic growth, employment,...

Among the many problems caused by the coronomic crisis is the quick and substantial growth of the public debts of states. This problem is pressing for Georgia as well. In order to overcome the problems caused by the COVID-19 pandemic, the Government of Georgia managed to attract external debt...