This work is aimed to explore the indirect impact of the EU's COVID-19 economic recession on global renewable energy consumption from the perspective of spillover effect. To this end, a global vector autoregressive (GVAR)-energy model was constructed based on the data of 33 major economies....

This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...

To understand the diverse impact of the crisis across emerging market countries, we explore the role of two shocks - the collapse in trade and the sharp decline in financial flows - in the transmission of the crisis from advanced economies to emerging market countries. We first develop a simple...