Covid-19 Coronavirus and Macroeconomic Policy CEPR (2020-03-31)
We provide a simple model to understand some macroeconomic implications of the coronavirus epidemic. We focus on a scenario in which the Covid-19 outbreak causes a persistent supply disruption, potentially extending beyo .. more | Determining the optimal duration of the COVID-19 suppression policy: A cost-benefit analysis AEI (2020-03-31)
We investigate the optimal duration of the COVID-19 suppression policy. We find that absent extensive suppression measures, the economic cost of the virus will total over $9 trillion, which represents 43% of annual GDP. .. more | The Economics of the Fed Put NBER (2020-03-31)
Since the mid-1990s, low stock returns predict accommodating policy by the Federal Reserve. This fact emerges because, over this period, negative stock returns comove with downgrades to the Fed’s growth expectations. Tex .. more |
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