This study provides a comparative analysis of the budget limits of the Commonwealth of Independent States members, focusing on fiscal responses to the COVID crisis and options for improving the structure. The methodology comprised a statistical approach based on assessments of macroeconomic...

Die wirtschaftlichen Auswirkungen der Coronapandemie haben die Volkswirtschaften der EU schwer getroffen. Zur Unterstützung haben die Mitgliedstaaten erhebliche Finanzmittel in die Wirtschaft gelenkt und die EU hat die entsprechenden Beihilferegeln, die den Wettbewerb im Binnenmarkt schützen...

The rapid increase in the number of cases of COVID-19 and deaths caused by the pandemic has had a significant impact on the stock markets of developed countries. In this context, this study examines the effects of the pandemic on stock markets in G7 countries. To this end, the study employs the...

Pandemics harm the economy. Governments use social distancing and other non-pharmaceutical interventions (NPI) to tackle the pandemic. Recent data from the 1918 influenza pandemic ('Spanish Flu') suggest that a strict NPI policy on average not only reduces mortality but is also helpful to...

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...

This study investigates the impact of COVID-19 pandemic on the microstructure of US equity markets. In particular, we explain the liquidity and volatility dynamics via indexes that capture multiple dimensions of the pandemic. Our results suggest that increases in confirmed cases and deaths due...

Burns and Mitchell (1946, 109) found a recession of “exceptional brevity and moderate amplitude.” I confirm their judgment by examining a variety of high-frequency, aggregate and cross-sectional data. Industrial output fell sharply but rebounded within months. Retail seemed little affected...

The paper presents early research on problems that make an application of the basic SIR-model of epidemiology difficult for short- and medium-run policy. The model essentially generalizes the simple SIR model in two respects. First, it generalizes the relation n_t = βY_t to account for the...

The coronavirus has produced a public health debacle of the first-order. But the virus is also propagating the kind of exogenous shock that can precipitate – and to a considerable degree is already precipitating – a systemic event for our financial system. This currently unfolding systemic...