This paper examines the impact of vaccination programs on the stock market volatility of the travel and leisure sector. Using daily data from 56 countries over the period from January 2020 to March 2021, we find that vaccination leads to a decrease in the investment risk of travel and leisure...

COVID-19 has a negative impact on business performance through anti-contagion regulations and consumers’ self-restraints. It is especially serious in specific service industries such as hospitality, tourism, entertainment, and cultural industries. Empirical studies have been carried out on the...

Between the months of February and April of 2020, average weekly market hours dropped by 6.25, meanwhile 35% of commuting workers reported switching to remote work arrangements. In this paper, we examine implications of these changes for the time allocation of different households, and on...