9/5/2023 0 Comments Economic stimulus mailings![]() In our paper, we also show that the number of hospital beds per capita, median age and the number of total COVID-19 cases are significantly correlated with the CESI.Īuthors' note: Our dataset will be regularly updated every week. ![]() The number of observations in Figure 3 is somewhat lower than the others, because here we only use the observations different from zero (a large number of countries have not decided on the rate cuts yet). Richer countries tend to adopt a larger fiscal stimulus (Figure 2) and also a larger monetary stimulus (Figure 3). Here, we observe that richer countries tend to have a larger CESI value, indicating a larger economic stimulus package. Figure 1illustrates the correlation between our index and GDP per capita. Our findings show that the median age of the population, the number of hospital beds per capita, GDP per capita and the number of total cases are significantly associated with the extent of countries’ economic policy responses.īelow we illustrate several correlations in our dataset. We further investigate the extent to which countries’ economic responses are shaped by several country characteristics, pandemic-related variables and public health measures (Correia et al. This index standardises the economic responses taken by governments, thus allowing use to study cross-country differences in policies. Next, using principle component analysis (PCA), we construct a COVID-19 Economic Stimulus Index (CESI) that combines all adopted fiscal, monetary, and exchange rate measures. The first reports specific BoP measures coded as a percentage of GDP, while the second is a dummy variable taking the value of 1 if there are other reported measures and 0 otherwise. Finally, the balance of payment (BoP) and exchange rate policy category includes two variables.The monetary policy category includes three variables: (1) interest rate cuts by the monetary policy authority (coded as a percentage of the ongoing rate on 1 February 2020) (2) the size of the macro-financial package (coded as a percentage of GDP) and (3) other monetary policy measures (coded as a dummy variable taking the value of 1 if there are such measures and 0 otherwise). ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |