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 uncertainty in a second step. Overall, we only find a moderate … policy uncertainty decreases after a lockdown shock. …

This paper models the macroeconomic and distributional consequences of lockdown shocks during the COVID-19 pandemic … about the virus. We then study the impact of a large-scale wage subsidy scheme implemented during the lockdown. The policy …

the announcement of a surprise, nationwide lockdown in March 2020, was followed by the announcement of an unanticipated … were exposed to the pandemic in early 2020 had worse stock market performance when the lockdown was announced. These ….The central bank’s surprise policy package announced right after the lockdown seemed to have reversed the adverse impact of the …