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The COVID-19 recession: this time is really different 5/22/2020
Across time and countries, financial crises and, more broadly, recessions and recoveries, have had much in common. Recessions predominantly impact the demand side whereas the influence on the supply side is more limited. This time is different. The pandemic-induced recession will have a longer lasting influence on the allocation of household expenditures, if not on the level of spending.  More than a normal recession, it will also have major repercussions on the supply side, through changes in global value chains, working from home or the disruption of the economics of businesses which are confronted with a forced capacity reduction on social distancing grounds.
COVID-19: Key measures taken by governments and central banks 5/20/2020
Major economic policy responses have been introduced to try to attenuate the impact of the Covid-19 pandemic on the economy. This document reviews the key measures taken by central banks and governments in a large number of countries as well as those taken by international organisations. It includes measures that were introduced through 25 May. It will be updated regularly.
In front of Covid-19 crisis, is there a place for any “green deal”? 5/15/2020
In front of the Covid 19 crisis, the necessary support to economy should not be opposed, but associated,  to energy transition.
Central bank balance sheet expansion: the sky is not the limit 4/30/2020
Major central banks have stepped up their efforts to attenuate the economic impact of the pandemic, raising the question whether there is a limit to balance sheet expansion. An asset purchase program (QE) can continue for a long time, given the possibility to broaden the investable universe. Quite likely, asset price distortions and concern about the riskiness of the central bank balance sheet will act as the true constraint. For this reason, a central bank could decide to finance the budget deficit directly, considering that this should have a bigger growth impact for a given expansion of the balance sheet. The real challenge under such a strategy is to keep inflation under control once the output gap is closing.   
Covid-19 and public debt sustainability 4/24/2020
In many countries, the Covid-19 pandemic puts public finances under pressure with rising deficits and a decline in GDP causing a significant increase in the debt/GDP ratio
COVID-19: Key measures taken by governments and central banks 4/22/2020
  Major economic policy responses have been introduced to try to attenuate the impact of the Covid-19 pandemic on the economy. This document reviews the key measures taken by central banks and governments in a large number of countries as well as those taken by international organisations. It includes measures that were introduced through 20 April. It will be updated regularly.
The COVID-19 pandemic and the labour market 4/3/2020
In March, the employment component of the purchasing managers indices for the eurozone declined, whereas in the US, initial jobless claims skyrocketed. Companies need flexibility to manage their cost base but households suffering from an unemployment-related income loss would act as a headwind to the recovery. In the US, the Federal government will top up unemployment benefits, which vary from state to state. In Europe, short-time work schemes allow employers to adapt their workforce without having recourse to costly lay-offs.
Covid-19: from pandemic relief to growth stimulus 4/3/2020
Recent data already give an indication of the huge economic cost of the coronavirus pandemic. This edition discusses the reaction of monetary and fiscal policy which seeks to attenuate the impact. In a second stage, the policy focus will be on boosting demand.
COVID-19: Key measures taken by governments and central banks 4/1/2020
Major economic policy responses have been introduced to try to attenuate the impact of the Covid-19 pandemic on the economy. This document reviews the key measures taken by central banks and governments in a large number of countries as well as those taken by international organisations. It includes measures that were introduced through 27 March. It will be updated regularly.
Drop in data confirms need for strong policy reaction 3/27/2020
The measures to stop the spreading of the pandemic have a profound impact on the economy which increasingly shows up in the economic data.Record declines in business sentiment illustrate the necessity of the forceful policy measures which have already been taken.The lifting of the lockdowns will, mechanistically, trigger a rebound in activity but additional stimulus will probably be needed to maintain the momentum.

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