Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

COVID-19 Infection Externalities: Trading Off Lives vs. Livelihoods

Anton KORINEK, Zachary BETHUNE
We analyze the externalities that arise when social and economic interactions transmit infectious diseases such as COVID-19. Individually rational agents do not internalize that they impose infection externalities upon. In an SIR model calibrated to capture the main features of COVID-19 in the US ec...
Keywords: cost of disease, COVID-19, infection externalities, Social Distancing
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

What Do We Learn from SARS-CoV-1 to SARS-CoV-2: Evidence from Global Stock Markets

Hong RU, Endong YANG, Kunru ZOU
This paper studies global stock market reactions to COVID-19 outbreaks caused by the virus SARS-CoV-2. The stock markets in countries that suffered from 2003 SARS diseases caused by a similar virus (SARS-CoV-1) react more quickly and strongly to the first COVID-19 outbreak in Wuhan China during late...
Keywords: COVID-19, Underreaction, Early Experience, stock market
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Commentaries

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2020, Pandemic

Labour Markets During the COVID-19 Crisis: A Preliminary View

Olivier COIBION, Yuriy GORODNICHENKO, Michael WEBER
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Commentaries

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Senior Fellows/Fellows, 2020, Pandemic

Singapore: The State as Insurer of Last Resort

Bernard YEUNG, Joseph CHERIAN
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Commentaries

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2020, Pandemic

COVID-19 in the Global Production Network

Ben CHAROENWONG
Not only do firms around the world rely on many Asian companies for crucial supplies, Asian countries also represent a substantial component of global demand. An October 2019 report by the International Monetary Fund shows Asia represented 70.9% of global economic growth in 2019, with China alone co...
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