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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.

Disasters and defaults

How does the risk of a disaster, such as a climate disaster or an epidemic, affect the default risk of a sovereign country and its ability to issue debt? To analyze this question, we introduce disaster risk into a small open economy model with endoge...
Primary Topic: Recession & recovery
Secondary Topic: Prices & interest rates
Lead investigator: Toan Phan

Macroeconomic effects of the Covid-19 supply shock: evidence from a global country sample and a GVAR model

Given that the Global Vector Autoregressive (GVAR) method, proposed by Pesaran et al. (2004), provides a practical approach to model the world economy, we study the effects on the macroeconomic determinants of a large number of economies around the g...
Primary Topic: Recession & recovery
Lead investigator: Nicholas Apergis

How contagious is a pandemic to the housing market? evidence from day-by-day sales and minute-by-minute bids after a Covid-19 policy intervention

We exploit day-by-day transaction and minute-by-minute auction data from Norway in order to estimate the effect on the housing market of the government intervention on 12 March 2020 and further effects from economic relief packages announced on 20 Ma...
Primary Topic: Prices & interest rates
Lead investigator: Andre K. Anundsen

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

The effect of Covid-19 on home prices and sales

I analyze the effect of Covid-19 on home prices and sales in the United States. I do so using a dataset on approved purchase mortgage applications. The mortgage data have many of the key variables also available in housing transaction data such as sa...
Primary Topic: Prices & interest rates
Lead investigator: Elliot Anenberg

Heterogeneous vulnerability to the Covid-19 crisis in Japan

We study how the Covid-19 crisis could affect earnings inequality across heterogeneous individuals in Japan. We use the Employment Structure Basic Survey by Statistics Bureau of Japan to identify groups of workers who are more susceptible to the shoc...
Secondary Topic: Inequality & poverty
Lead investigator: Shinnosuke Kikuchi

The shadow economy during Covid-19: effects of the pandemic on dark web marketplaces

The shadow economy is a substantial part of economic activity in normal times. During the current global pandemic, governments have imposed very severe regulations on labour, movement, goods and service markets. Therefore, we would expect that some e...
Primary Topic: Banks & financial markets
Lead investigator: Abeer Yehia

Pro-sociality, altruism, and physical distancing: cultural dimensions of resiliency to Covid-19 pandemic shock

Resiliency in the face of international threats such as climate change or pandemics requires coordination and, at least short-term, self-sacrifice. Related to this, nations differ in their propensities for individualism, altruism, and collectivism. I...
Lead investigator: Timothy MacNeill