Lockdowns imposed to fight the Covid-19 pandemic have cross-border effects. In this paper, we estimate the empirical magnitude of lockdown spillovers in a set of panel local projections. We use daily indicators of economic activity such as stock returns, effective exchange rates, NO2 emissions,...

This working paper was written by Hongyi Chen (Hong Kong Institute for Monetary and Financial Research) and Peter Tillmann (University of Giessen).Lockdowns imposed to fight the Covid-19 pandemic have cross-border effects. In this paper, we estimate the empirical magnitude of lockdown spillovers...

This working paper was written by Hongyi Chen (Hong Kong Institute for Monetary and Financial Research) and Peter Tillmann (University of Giessen).Lockdowns imposed to fight the Covid-19 pandemic have cross-border effects. In this paper, we estimate the empirical magnitude of lockdown spillovers...

This paper evaluates the temporary VAT reduction introduced by the German government over the third and fourth quarter of 2020 as most controversial part of the COVID-19 stimulus package. Critics argue that VAT reductions are ineffective because of limited pass-through of temporary measures to...

The decision of an immediate lockdown in India had put economic, social and religious activities to a grinding halt. The paper examines the impact of lockdown and social distancing policies on economic activities in India using a multivariate econometric model of the data collected for the...

This paper uses Opportunity Insights Economic Tracker data for four of the largest counties within the St. Louis MSA to better understand the effect of stay-at-home public health orders (a.k.a lockdowns) on local economic activity. A difference-in-differences analysis finds that small business...

The contribution of this paper is twofold. First, we introduce a daily vector autoregression (VAR) model for the US economy that allows discerning between lockdown shocks and a real business cycle shocks. With this methodology at hand, we then evaluate the impact of lockdown measures on economic...

The decision of an immediate lockdown in India had put economic, social and religious activities to a grinding halt. The paper examines the impact of lockdown and social distancing policies on economic activities in India using a multivariate econometric model of the data collected for the...

This paper evaluates the temporary VAT reduction invoked by the German government over the third and fourth quarter of 2020 as part of the COVID-19 stimulus package. There is considerable controversy. Critics argue that VAT reductions are ineffective in the presence of lockdown measures in place...