exogenous shock. Specifically, we focus on the Global Financial Crisis (GFC) and the onset of the COVID-19 pandemic. We … construct a two-period panel of 66 Territorial Authorities (TAs) of New Zealand (NZ) observed in 2008-09 and 2020-21. We find … pandemic was of a similar magnitude as that of the GFC, and the spatial pattern was also quite similar. We link the social …

: during the global financial crisis, bond issuances were made to replace bank loans, whereas during the COVID-19 pandemic they …

The federal government enacted massive spending in the Pandemic Recession. But was this spending scaled to the … magnitude of the economic downturn? We examine the responsiveness of the safety net to the Pandemic Recession and compare it to … cross-state variation in measures of the business cycle-we find that the safety net response during the Pandemic Recession …