up with a strategy on how to best manage the economy and deal with the fallout of the public health shock, especially on …/paper looks more closely at that episode, dissecting the macroeconomic impact of the coronavirus, viewing it up close through its …

following a large real (non-financial) shock; and (ii) demonstrate the effectiveness of Large Scale Asset Purchases (LSAPs) in … addressing these contractions. The key mechanism stems from heterogeneous risk tolerance: as a recessionary shock hits the … Covid-19 shock and the large response by all the major central banks provide a vivid illustration of the environment we seek …