- Modern health crises: Recession and recovery - Chang Ma, John Rogers, Sili Zhou (VoxEU.org)
- The EU response to the coronavirus crisis: How to get more bang for the buck - Massimo Bordignon, Guido Tabellini (VoxEU.org)
- Pandemic Recession: L or V-Shaped? - Victoria Gregory, Guido Menzio, David G. Wiczer (NBER WP)
- COVID-19 and the Welfare Effects of Reducing Contagion - Robert S. Pindyck (NBER WP)
- How to pay for the (pandemic) war - Francesco Bianchi, Renato Faccini, Leonardo Melosi (VoxEU.org)
- Challenges in Nowcasting GDP Growth - FRB of Atlanta
- Emerging from the Great Lockdown in Asia and Europe - Changyong Rhee and Poul M. Thomsen (IMF)
- Business cannot simply awake from this coma and carry on - Raghuram Rajan (FT)
- After the coronavirus pandemic - Martin Wolf (FT)
- Fractured Global Value Chains post COVID-19: Can India gain its missed glory? - Rajesh Chadha (Brookings)
- European investment plunge raises fears for future growth - FT
- Trump threats to China over coronavirus pile pressure on renminbi - FT
- UK economy shrinks at record 5.8% in March - FT
- Britain’s Silly Flirtation With Negative Interest Rates - Washington Post
- ECB rebuffs bank complaints on negative interest rates - FT
Wednesday, May 13, 2020
Tuesday, May 12, 2020
COVID-Economics Links (May 12)
- Making the Best of a Post-Pandemic World - Dani Rodrik
- Banking regulation in the euro area: Germany is different
- Nicolas Véron (PIIE)
- Covid Economics: Vetted and Real-Time Papers - Issue 16, CEPR
- COVID-19 Is Also a Reallocation Shock - Jose Maria Barrero, Nicholas Bloom and Steven J. Davis (SSRN)
- Risks of Growing Debt vs. Fiscal Stringency in the COVID-19 Crisis - William G. Gale and Zachary Obstfeld (EconoFact)
- Federal Reserve System International Facilities- Bruce Mizrach and Christopher J. Neely (St Louis Fed)
- Bank resolution frameworks in systemic crises - Thorsten Beck, Deyan Radev, Isabel Schnabel (VoxEU)
- New York Fed Announces Start of Certain Secondary Market Corporate Credit Facility Purchases on May 12 - NY Federal Reserve
- COVID-19 crisis in the euro area: Recession or ‘double-peak’ expansion? - Philippe Weil, Refet Gürkaynak, John Fernald, Evi Pappa, Antonella Trigari (VoxEU)
- The cost of the COVID-19 crisis: Lockdowns, macroeconomic expectations, and consumer spending - Olivier Coibion, Yuriy Gorodnichenko, Michael Weber (VoxEU)
- The fiscal costs of lockdown: Three scenarios for the UK - Pacitti, Hughes, Leslie, McCurdy, Smith and Tomlinson (VoxEU)
- Staying at home: The mobility effects of COVID-19 - Engle, Stromme and Zhou (VoxEU)
- The Global Pandemic and Run on Shadow Banks - Rajdeep Sengupta (Kansas City Fed)
- Never Say Never on Negative Rates - WSJ
- Fed’s Evans Says It Is ‘Reasonable’ to Assume Return to Growth in Second Half - WSJ
- Why the coming emerging markets debt crisis will be messy - FT
- German business body calls for European fiscal solidarity - FT
Monday, May 11, 2020
COVID-Economics Links (May 11)
- Can the Covid Bailouts Save the Economy? - Elenev, Landvoigt and van Nieuwerburgh (CEPR DP)
- Consumption in the time of Covid-19: Evidence from UK transaction data - Hacioglu, Känzig and Surico (CEPR DP)
- Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis - Baqaee and Farhi (CEPR DP)
- Navigating Deglobalization - Mohamed A. El-Erian (PS)
- Long haul lockdown: Three scenarios for the impact of coronavirus on the UK economy - Leslie, Hughes, McCurdy, Pacitti, Smith and Tomlinson (VoxEU)
- The economic impact of Covid-19 in Europe and the US - Sophia Chen, Deniz Igan, Nicola Pierri, Andrea Presbitero (VoxEU)
- Working from home: Estimating the worldwide potential - Berg, Bonnet and Soares (VoxEU)
- Political beliefs affect compliance with COVID-19 social distancing orders - Painter and Qiu (VoxEU)
- Seize the opportunity of Covid-19 to restructure taxes - Martin Sandbu (FT)
- Growth in the shadow of COVID-19 debt - Jamus Lim (VoxEU)
- The European Central Bank is deluding itself over German court ruling - Wolfgang Munchau (FT)
- China car sales notch first rise in almost 2 years - FT
- The Emerging-Market Debt Trap - WSJ
- India must now help its people back to work - FT
Sunday, May 10, 2020
COVID-Economics Links (May 10)
- The case for permanent stimulus - Paul Krugman (VoxEU)
- How COVID-19 is transforming the world economy - Kilic and Marin (VoxEU)
- When Do Shelter-in-Place Orders Fight Covid-19 Best? Policy Heterogeneity Across States and Adoption Time - Dave, Friedson, Matsuzawa and Sabia (SSRN)
- Liquidity Provision during a Pandemic - Kahn and Wagner (SSRN)
- The job numbers are horrible. But there’s more to this story - Betsey Stevenson (Washington Post)
Saturday, May 9, 2020
COVID-Economics Links (May 9)
- Eurogroup Statement on the Pandemic Crisis Support - Eurogroup
- The asymmetric impact of COVID-19 confinement measures on EU labour markets - Torrejón Pérez, Fana, González-Vázquez and Fernández-Macías (VoxEU)
- The impact of COVID-19 on European household expectations - Gene Ambrocio (VoxEU)
- Coronavirus and commodity markets: Lessons from history - Peter Nagle (World Bank)
- Sector-Specific Shocks and the Expenditure Elasticity Channel During the COVID-19 Crisis - Ana Danieli and Jane Olmstead-Rumsey (SSRN)
- Rebuilding better after Covid-19, part 2 - Martin Sandbu (FT
- Coronavirus recession deepens U.S. job losses in April especially among low-wage workers and women - Heather Boushey (Equitable Growth)
- Fiscal Monitor - April 2020 - IMF
- The coronavirus economy is exposing how easy it is to fall from the middle class into poverty - Washington Post
- A ray of light in global property - FT
- Lagarde urges eurozone to launch joint fiscal stimulus - FT
- This is how economic pain is distributed in America - Washington Post
Friday, May 8, 2020
COVID-Economics Links (May 8)
Blogs, Opinions and Academic papers
- COVID-19 will raise inequality if past pandemics are a guide - Furceri, Loungani, Ostry, and Pizzuto (VoxEU)
- The U.S. Labor Market During the Beginning of the Pandemic Recession - Cajner et al
- COVID-19 crisis in the euro area: recession or “double-peak” expansion? - CEPR-EABCN Euro Area Business Cycle Dating Committee
- Figures of the week: The costs of financing Africa’s response to COVID-19 - Chris Heitzig (Brookings)
- Two months before the cliff - Catarina Midoes (Bruegel)
- The possible shapes of recoveries in Markov-switching models - Bouabdallah and Ferrara
- Income Assistance for Low-Income Workers During the COVID-19 Crisis - Levine and Schanzenbach (Econofact)
- Export controls: America’s other national security threat - Chad P. Bown (PIIE)
- Covid Economics: Vetted and Real-Time Papers, Issue 15 - CEPR
- US States Need Federal Funding to Combat the Pandemic - Laura Tyson (PS)
- COVID Economic Tracker - Economic Tracker
News
- Emerging markets launch QE, too - The Economist
- Brazil approves quantitative easing to fight coronavirus woes - FT
- Economists question BoE’s overly rosy view of V-shaped recovery - FT
- Two-Year Treasury Yield Now at Record Low - WSJ
- Losses by central banks are nothing to fear - The Economist
- Economic Fallout From Coronavirus Puts Euro to the Test - WSJ
- US jobless claims of 3.2m take total pandemic toll beyond 33m - FT
- Christine Lagarde says ECB is ‘undeterred’ by German court challenge - FT
- Coronavirus Crisis Has Made Even Global Banks Local - WSJ
- How Dollar Distress Migrated to Asia - WSJ
Thursday, May 7, 2020
COVID-Economics Links (May 7)
Blogs, Opinions and Academic papers
- COVID-19 lockdowns have increased support for incumbents, trust in government, and satisfaction with democracy - Blais, Bol, Giani and Loewen (VoxEU)
- Germany’s Judges Declare War on the ECB - Willem H Buiter
- The value of social distancing is not equally distributed - Barnett-Howell and Mobarak (VoxEU)
- The Threat of Enfeebled Great Powers - Arvind Subramanian (PS)
- Will COVID-19 fiscal recovery packages accelerate or retard progress on climate change? - Hepburn, O’Callaghan, Stern, Stiglitz and Zenghelis
- Fiscal Policies for the Recovery from COVID-19 - Gaspar, Lam, and Raissi (IMF)
- Covid Economics: Vetted and Real-Time Papers, Issue 14 - CEPR
- Global medical trade in the time of the coronavirus pandemic - Kimberly A. Clausing (Equitable Growth)
- The Cost of the COVID-19 Crisis: Lockdowns, Macroeconomic Expectations, and Consumer Spending - Coibion, Gorodnichenko and Weber (SSRN)
- Here’s How Covid-19 Is Boosting Monopolization and Market Power - Matt Stoller (ProMarket)
- China’s economy after COVID-19 - Audio (Bruegel)
- Reopening Malaysia’s economy in a new normal - Smita Kuriakose (World Bank)
- How Severe Is the “Great Lockdown” Expected to Be? - Enrique Martinez Garcia (EconBrowser)
News
- ECB to resist German court order to justify bond purchases - FT
- Norway cuts rates to zero as economy faces twin shocks - FT
- Breaking down the eurozone’s worst recession in history - FT
- BoE warns of 30% crunch in the UK economy but refrains from new stimulus - FT
- ECB Faces No Shortage of Rebuttals to German Court’s QE Attack - Bloomberg
- Pressure on Turkey’s Economy Builds as Lira Nears Record Low - WSJ
- Reopening the economy won’t avert a serious recession - Washington Post
- How Germany Kept Its Factories Open During the Pandemic - WSJ
- UK construction activity collapses in April - FT
- China’s mixed data point to challenge of rebooting economy - FT