Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Working Paper MWP20010

Stress tests for Banks as Liquidity Insurers in a Time of COVID

Viral V. ACHARYA
Stock prices have declined and credit market conditions have tightened in response to the COVID-19 pandemic. Firms typically respond to such outcomes by exercising their liquidity insurance and drawing down their credit lines. This column uses two ‘stress tests’ to demonstrate that the quantum o...
Keywords: COVID-19, Pandemic, Liquidity insurance, stock prices
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Working Paper MWP20009

Pandemic and Panic: Government as the Supplier of Last Resort

Chen LIN, Yi HUANG, Pengfei WANG, Zhiwei XU
Keywords: COVID-19, Pandemic, Governance
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Working Paper MWP20008

Will COVID-19 Set off the Next Global Financial Crisis?

Cyn-Young PARK
Keywords: COVID-19, Pandemic, financial crisis
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Working Paper MWP20007

Ten Keys in Beating Back Covid-19 and the Associated Economic Pandemic

Shang-Jin WEI
In a Project Syndicate column that I wrote on January 27, 2020, I predicted a turning point in the spread of the novel coronavirus in China by the second or third week of February and the end of the epidemic by early May. That projection is based on a combination of the experience in ending the SARS...
Keywords: COVID-19, Pandemic, Key points
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Senior Fellows/Fellows

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Senior Fellows/Fellows, Pandemic

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May 2020

Working Paper MWP20006

Heuristics in Policymaking: It's Time to Figure out what Drives Policy Uncertainty

Hong ZHANG, Xiao JI, Mengyu WANG
Policymaking under the pandemic pressure could be subject to cognitive heuristics, allowing the resulting policy uncertainty to influence the market negatively.Researches in economics and finance have long recognized the importance of policy uncertainty. However, most studies take policy uncertainty...
Keywords: COVID-19, Pandemic, Policymaking
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