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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.

Grey rhinos in financial markets and venue selection: the case of Covid-19

We investigate the effects of the Covid-19-induced shock in financial markets on aggregate venue selection/market share and market quality. We find that the shock is linked with an economically significant loss of market share by dark pools to lit ex...
Secondary Topic: Prices & interest rates
Lead investigator: Gbenga Ibikunle

The invisible risk: pandemics and the financial markets

Are pandemics systemically important to modern-day financial markets? This study uses the Covid-19 pandemic as a natural experiment for testing how large-scale pandemics affect the financial markets. Using hand-collected data at the firm level, I fin...
Lead investigator: Jordan Schoenfeld

Do Environmental, Societal, and Governance (ESG) efforts make firms less vulnerable to financial market shocks? Evidence from the Covid-19 pandemic

Previous research indicates that stocks of companies endowed with high levels of Environmental, Societal, and Governance (ESG) responsibility characteristics fared better during the financial crisis of 2008-2009. But it is not known why this happens,...
Secondary Topic: Prices & interest rates
Lead investigator: Markku Kaustia

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...
Lead investigator: Abeer Yehia