The current paper examines the asymmetric effects of changes to monetary and fiscal variables on different types of firms in the UAE. We compute impulse responses based on local projections and select shock and switching variables using machine learning. We examine 180 firms listed in the UAE...

The COVID-19 crisis has disrupted the UAE's economy, while the declining oil prices have slashed any hopes of a timely recovery. In response, the government has deployed significant rescue packages, such as Targeted Economic Support Scheme (TESS). This paper argues that such stimulus packages...