We estimate the impact of fiscal measures adopted in response to the COVID-19 crisis at the euro area level, combining standard macroeconomic data with an index on the strictness of ‘lockdown style’ policies. Given the multitude of shocks occurred simultaneously during the pandemic, the...

In this contribution, we assess the main measures, already taken or currently contemplated by the EU, in reaction to the COVID-19 crisis to mitigate its impact on Eurozone economies. The discussion begins with the recent monetary policy decisions taken by the ECB (1). The focus then shifts to...

The recession in India and the UK peaked in 2017 due to the implications of new policy initiatives. The outbreak of the COVID-19 pandemic at the beginning of 2020 intensified the crisis, causing a drastic decline in aggregate demand and output. India and the UK have resorted to monetary and...