This paper estimates fiscal multipliers using quarterly data for a panel of nine developing Asian economies, following a vector autoregression model specification, but using local projections to extract the impulse responses. We provide evidence that the 4-quarter and 8-quarter cumulative...

We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported negative impact of Covid-19 on current business is...

We examine the impact of COVID-19 on the federal budget outlook. We find substantial but temporary effects on spending and revenues, with more moderate but permanent effects on the long-term projections. We project that the debt-to-GDP ratio, currently 98%, will rise to 190% in 2050 under...

Das erste Jahr der Corona-Pandemie stand in Deutschland im Zeichen extremer Schwankungen der ökonomischen Aktivität und einer massiven Lähmung der Binnenwirtschaft. Insgesamt dürfte das Bruttoinlandsprodukt in diesem Jahr um 3,7% und im kommenden Jahr um 3,9% zunehmen. Die öffentlichen...

Die Corona-Pandemie hat neben medizinischen auch gesellschaftliche, soziale und vor allem ökonomische Spuren in der jüngsten Zeit in der deutschen Gesellschaft hinterlassen. Durch ein Potpourri verschiedenster staatlicher Maßnahmen wurde die Konjunktur belebt und der Versuch unternommen, die...

On March 18, Congress enacted the Families First Coronavirus Response Act, the first economic relief bill in response to the pandemic. It mandates that state Medicaid programs cover diagnosis and testing for COVID-19 at no cost to beneficiaries and includes a temporary, conditional 6.2...

We study price-setting behavior in German firm-level survey data to infer the relative importance of supply and demand during the Covid-19 pandemic. Supply and demand forces coexist, but demand shortages dominate in the short run. A reported negative impact of Covid-19 on current business is...

Given that the COVID-19 pandemic has taken a higher toll on communities of color, and previous JPMorgan Chase Institute research has demonstrated racial gaps in financial outcomes (Farrell et al. 2020), COVID-19 could result in further exacerbation of racial disparities in financial outcomes. We...