Covid-19. We show that there exist threshold effects in the relationship between output growth and excess global volatility … factors from trade-related spillovers, and identify the Covid-19 shock using GDP growth forecast revisions of the IMF in 2020Q … observations. Our results show that the Covid-19 pandemic will lead to a significant fall in world output that is most likely long …

investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A …