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Current Research

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Economists from around the world are using real time data collection to better understand the impact the Covid-19 crisis is having on families, workers, firms and society, and how policies can help the recovery out of the crisis. Find out more about how these research teams are carrying out their projects, and what their findings are below.

Market reactions to the arrival and containment of Covid-19: an event study

We study the short-term market reactions of US and European stocks during the beginning of the Covid-19 pandemic. Employing an event study, we document that stocks react significantly negative to the announcement of the first death in a given country...
Primary Topic: Business, big & small
Secondary Topic: Prices & interest rates
Lead investigator: Thomas Heyden

The economic impact of Covid-19 and subsequent debt relief policies

Our research project examines the economic effects of Covid-19 and subsequent debt and credit relief policies along the value chain. Our project examines the effects on the micro to small and medium-size enterprises (SMEs) along the value chain as we...
Primary Topic: Business, big & small
Secondary Topic: Recession & recovery
Lead investigator: Giacomo De Giorgi
Countries

Nowcasting (real-time estimates of) aggregate economic activity and financial stability risks using national payment system data during Covid-19 outbreak.

Our goal is to construct a reliable measure to estimate the economic activity and financial stability risk in real time. We use a unique dataset obtained from the National Payment System (NPS) of the Bank of Russia. Dataset is updated daily and conta...
Primary Topic: Business, big & small
Lead investigator: Anna Burova
Countries

The impact of Covid-19 on us stock market: Fama-French models

The paper evaluates the performance of Fama-French models on US stock during Covid-19. All data used in constructed models have origination from Fama-French official website from 1st January 2000 to 31st March 2020. (Fama and French 2020). The result...
Primary Topic: Business, big & small
Secondary Topic: Prices & interest rates
Lead investigator: Dominik Horvath
Countries

Covid-19 information and demand for protective gear in the UK

Amid the Covid-19 crisis in the UK, we study the demand and willingness to pay for hand sanitiser gel, disposable face masks and disposable gloves, and the role of information on tested people and Covid-19 deaths in explaining the demand and willingn...
Primary Topic: Business, big & small
Secondary Topic: Prices & interest rates
Lead investigator: Sonia Oreffice
Countries

Ownership and business resilience during a pandemic

Exploring how financial markets fare during the Covid-19 crisis, scholars have begun to probe into organizational factors at the firm level in order to understand the different response by companies. Our key goal is to test whether the involvement of...
Primary Topic: Business, big & small
Lead investigator: Mario Daniele Amore
Countries

Covid-19 and the future of microfinance: evidence and insights from Pakistan

The Covid-19 pandemic threatens lives and livelihoods, and, with that, has created immediate challenges for institutions that serve affected communities. We focus on implications for local microfinance institutions in Pakistan, a country with a matur...
Primary Topic: Business, big & small
Secondary Topic: Inequality & poverty
Lead investigator: Kashif Malik
Countries

The effects of working from home on Covid-19 infections and production – a macroeconomic analysis for Germany

We study the impact of confinement on infection risk and on the German economy. We first document that regions whose industry structure allows for a large fraction of work to be done at home also experienced much fewer Covid-19 cases and fatalities. ...
Primary Topic: Business, big & small
Secondary Topic: Jobs, work, pay & benefits
Lead investigator: Harald Fadinger
Countries

Effect of Coronavirus on bank loans and credit rationing in an emerging market economy

Amid the outbreak of Covid-19, there have been a number of initiatives to keep businesses afloat. In this study, we aim to explore how the supply side, particularly the banking sector, responded to this shock by using highly granular Colombian loan-l...
Primary Topic: Business, big & small
Lead investigator: Yasin Kürşat Önder
Countries

Safe matching and labor reallocation

The recovery from the Covid-19 pandemic will involve a major reallocation of labour across jobs. A large number of jobs involving personal contacts with customers or colleagues are likely to be shut down for a long period of time unless they can be d...
Primary Topic: Business, big & small
Secondary Topic: Jobs, work, pay & benefits
Lead investigator: Gaetano Basso
Countries

Online auction markets in the aftermath of Covid-19

An economically relevant implication of cities lockdowns, perhaps the most popular government policy enacted to limit Covid-19 virus contagion, is putting a stop to retail markets and parallelly boost online ones. In this paper we leverage rich data ...
Primary Topic: Business, big & small
Secondary Topic: Prices & interest rates
Lead investigator: Francisco Alvarez-Gonzalez

Feverish stock price reactions to Covid-19

The market reactions to the 2019 novel Coronavirus disease (Covid-19) shed light on the importance of international trade and financial policies for firm value. Initially, investors priced negative consequences for internationally oriented US firms, ...
Primary Topic: Business, big & small
Secondary Topic: Prices & interest rates
Lead investigator: Stefano Ramelli
Countries

Mapping the impact of Covid-19 on the distribution of youth-led businesses in Kenya

The Covid-19 pandemic is expected to impact economic activity in Kenya in many ways. Currently, there is a national curfew from 7 pm to 5 am with only essential services permitted to be open and extremely limited mobility. These conditions are likely...
Primary Topic: Business, big & small
Lead investigator: Julian Jamison
Countries

Constraints to female entrepreneurship in Pakistan: the role of women’s goals and aspirations

We are running a field experiment with female entrepreneurs who have all borrowed from a microfinance organization in Punjab, Pakistan. We test whether an intervention that exposes women to successful role models, and encourages goal setting, plannin...
Primary Topic: Business, big & small
Secondary Topic: Families & households
Lead investigator: Giovanna D'Adda
Countries