Covid Economics

Webinars Covid Economics:
Vetted and Real-time papers
VoxEU Columns, eBooks and Videos CEPR Discussion Papers Policy Insights


On Thursday 14th May, CEPR and LSE IGA / SPP hosted a webinar on: Living with lockdowns: Early lessons from India’s COVID-19, with Yamini Aiyar, Kaushik Basu, Erik Berglof, Ashwini Deshpande, Maitreesh Ghatak and Debraj Ray. The recording will become available shortly.

On Thursday 7th May, CEPR and LSE IGA / SPP hosted a webinar on: Born Out of Necessity: A Debt Standstill for COVID-19, with Erik Berglof, Patrick Bolton, Lee Buchheit, Mitu Gulati, Pierre-Olivier Gourinchas, Ugo Panizza and Beatrice Weder di Mauro. 

On Thursday 30th April, CEPR and LSE IGA/SPP hosted a webinar on Covid-19: Keeping Trade Routes Open; a 90 minute discussion with Erik Berglof, Swati Dhingra, Simon Evenett and Pascal Lamy.


On Wednesday 15th April, CEPR and PIIE held a joint webinar on Economic Nationalism and Populism in times of Covid-19, with Monica de Bolle, Sergei Guriev and Adam S. Posen:

On Wednesday 8th April 2020, CEPR and SAFE organised a joint webinar on Corona and Risk Sharing: A European Equity Fund:

On Monday 6th April 2020, CEPR organised a webinar with Agnès Bénassy-Quéré, Lucrezia Reichlin and Beatrice Weder di Mauro, on the Covid crisis in Europe: 

CEPR Covid Economics: Vetted and real-time papers

At the end of March CEPR launched a new online (lightly) peer-reviewed publication, Covid Economics, Vetted and Real-Time Papers, to disseminate emerging scholarly work on the Covid-19 epidemic. Very quickly after the onset of the epidemic a large number of policy papers were produced by economic scholars, many of which have appeared on VoxEU. This was enormously helpful in improving our understanding of policy options, but the next step requires more formal investigations, based on explicit theory and/or empirical evidence. Covid Economics aims to collate some of the best economic research on Covid-19 so that it might inform the academic and policy debate in an acute crisis when results have to circulate fast. It has been extremely well received by both the academic and policy-making communities.

Latest Issue, 23: 28 May 2020

CEPR Discussion Papers

DP14759    Family Ownership During the Covid-19 Pandemic
Author(s): Mario Daniele Amore, Valerio Pelucco and Fabio Quarato
Published: May 2020

DP14757    Estimating the costs and benefits of mandated business closures in a pandemic
Author(s): Jean-Noël Barrot, Basile Grassi and Julien Sauvagnat
Published: May 2020

DP14750    A Dynamic Structural Model of Virus Diffusion and Network Production: A First Report
Author(s): Victor Aguirregabiria, Jiaying Gu, Yao Luo and Pedro Solbes Mira
Published: May 2020

DP14748    Job Search during the COVID-19 Crisis
Author(s): Lena Hensvik, Thomas Le Barbanchon and Roland Rathelot
Published: May 2020

DP14744    Do lockdowns work? A counterfactual for Sweden
Author(s): Benjamin Born, Alexander Dietrich and Gernot Müller
Published: May 2020

DP14743    Supply and Demand in Disaggregated Keynesian Economies with an Application to the Covid-19 Crisis
Author(s): David Rezza Baqaee and Emmanuel Farhi
Published: May 2020

DP14742    Nonlinear Production Networks with an Application to the Covid-19 Crisis
Author(s): David Rezza Baqaee and Emmanuel Farhi
Published: May 2020

DP14734    COVID-19, Helicopter Money & the Fiscal-Monetary Nexus
Author(s): Alex Cukierman
Published: May 2020

DP14733    Consumption in the time of Covid-19: Evidence from UK transaction data
Author(s): Sinem Hacioglu, Diego R Känzig and Paolo Surico
Published: May 2020

DP14720    Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength
Author(s): Francesco Bianchi, Renato Faccini and Leonardo Melosi
Published: May 2020

DP14714    Can the Covid Bailouts Save the Economy?
Author(s): Vadim Elenev, Tim Landvoigt and Stijn van Nieuwerburgh
Published: May 2020

DP14711    Estimating and Simulating a SIRD Model of COVID-19 for Many Countries, States, and Cities
Author(s): Jesús Fernández-Villaverde and Charles I Jones
Published: May 2020

DP14707    More than Words: Leaders' Speech and Risky Behavior During a Pandemic
Author(s): Nicolas Ajzenman, Tiago Cavalcanti and Daniel Da Mata
Published: May 2020

DP14699    Assessing the Consequences of Quarantines During a Pandemic
Author(s): Rikard Forslid and Mathias Herzing
Published: May 2020

DP14695    An economic model of the Covid-19 epidemic: The importance of testing and age-specific policies
Author(s): Luiz Brotherhood, Philipp Kircher, Cezar Santos and Michèle Tertilt
Published: May 2020

DP14694    Corona Policy According to HANK
Author(s): Marcus Hagedorn and Kurt Mitman
Published: May 2020

DP14679    Inequality of Fear and Self-Quarantine: Is There a Trade-off between GDP and Public Health?
Author(s): Sangmin Aum, Sang Yoon (Tim) Lee and Yongseok Shin
Published: April 2020

DP14674    When the Markets Get COVID: COntagion, Viruses, and Information Diffusion.
Author(s): Mariano Massimiliano Croce, Paolo Farroni and Isabella Wolfskeil
Published: April 2020

DP14673    Covid-19: Testing Inequality in New York City
Author(s): Stephanie Schmitt-Grohé, Ken Teoh and Martin Uribe
Published: April 2020

DP14671    Startups and Employment Following the COVID-19 Pandemic: A Calculator
Author(s): Petr Sedlacek and Vincent Sterk
Published: April 2020

DP14665    Inequality in the Impact of the Coronavirus Shock: Evidence from Real Time Surveys
Author(s): Abigail Adams, Teodora Boneva, Marta Golin and Christopher Rauh
Published: April 2020

DP14664    Restarting the economy while saving lives under Covid-19
Author(s): Carlo A. Favero, Andrea Ichino and Aldo Rustichini
Published: April 2020

DP14661    Love in the Time of COVID-19: The Resiliency of Environmental and Social Stocks
Author(s): Rui Albuquerque, Yrjo Koskinen, Shuai Yang and Chendi Zhang
Published: April 2020

DP14658    A Simple Planning Problem for COVID-19 Lockdown
Author(s): Fernando Alvarez, David Argente and Francesco Lippi
Published: April 2020

DP14646    Voluntary and Mandatory Social Distancing: Evidence on COVID-19 Exposure Rates from Chinese Provinces and Selected Countries
Author(s): Alexander Chudik, M Hashem Pesaran and Alessandro Rebucci
Published: April 2020

DP14642    Tracking the COVID-19 Crisis with High-Resolution Transaction Data
Author(s): Vasco M Carvalho, Stephen Hansen, Álvaro Ortiz, Juan Ramón García, Tomasa Rodrigo, Sevi Rodriguez Mora and José Ruiz
Published: April 2020

DP14633    A Sticky-Price View of Hoarding
Author(s): Áureo De Paula, Christopher Hansman, Harrison Hong and Vishal Singh
Published: April 2020

DP14631    Global Behaviors and Perceptions in the COVID-19 Pandemic
Author(s): Stefano Caria, Thiemo Fetzer, Stefano Fiorin, Friedrich Goetz, Margarita Gomez, Johannes Haushofer, Lukas Hensel, Andriy Ivchenko, Jon M. Jachimowicz, Gordon Kraft-Todd, Elena Reutskaja, Christopher Roth, Marc Witte and Erez Yoeli
Published: April 2020

DP14629    Social Distancing and Supply Disruptions in a Pandemic
Author(s): Martin Bodenstein, Giancarlo Corsetti and Luca Guerrieri
Published: April 2020

DP14627    A Model of Asset Price Spirals and Aggregate Demand Amplification of a "Covid-19" Shock
Author(s): Ricardo Caballero and Alp Simsek
Published: April 2020

DP14618    Poverty and Economic Dislocation Reduce Compliance with COVID-19 Shelter-in-Place Protocols
Author(s): Jesse Driscoll, Konstantin Sonin, Jarnickae Wilson and Austin L. Wright
Published: April 2020

DP14614    Economic Policy Incentives to Preserve Lives and Livelihoods
Author(s): Roberto Chang and Andrés Velasco
Published: April 2020

DP14613    The Optimal COVID-19 Quarantine and Testing Policies
Author(s): Facundo Piguillem and Liyan Shi
Published: April 2020

DP14612    On the Optimal "Lockdown" During an Epidemic
Author(s): Martin Gonzalez-Eiras and Dirk Niepelt
Published: April 2020

DP14611    Which jobs are done from home? Evidence from the American Time Use Survey
Author(s): Lena Hensvik, Thomas Le Barbanchon and Roland Rathelot
Published: April 2020

DP14607    Macroeconomic Dynamics and Reallocation in an Epidemic
Author(s): Dirk Krueger, Harald Uhlig and Taojun Xie
Published: April 2020

DP14606    Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
Author(s): Andrew Glover, Jonathan Heathcote, Dirk Krueger and Jose-Victor Rios-Rull
Published: April 2020

DP14600    The Coronavirus Stimulus Package: How large is the transfer multiplier?
Author(s): Christian Bayer, Benjamin Born, Ralph Luetticke and Gernot Müller
Published: April 2020

DP14596    COVID-19 Infection Externalities: Trading Off Lives vs. Livelihoods
Author(s): Zachary Bethune and Anton Korinek
Published: April 2020

DP14584    How Many Jobs Can be Done at Home?
Author(s): Jonathan Dingel and Brent Neiman
Published: April 2020

DP14573    Firm-Level Exposure to Epidemic Diseases: Covid-19, SARS, and H1N1
Author(s): Tarek Alexander Hassan, Stephan Hollander, Ahmed Tahoun and Laurence van Lent
Published: April 2020

DP14571    The Covid-19 Pandemic and Corporate Dividend Policy
Author(s): Georg Cejnek, Otto Randl and Josef Zechner
Published: April 2020

DP14569    Systemic Banking Crises Database: A Timely Update in COVID-19 Times
Author(s): Luc Laeven and Fabian Valencia
Published: April 2020

DP14529    Covid-19 Coronavirus and Macroeconomic Policy
Author(s): Luca Fornaro and Martin Wolf
Published: March 2020

DP14520    The Macroeconomics of Epidemics
Author(s): Martin Eichenbaum, Sérgio Rebelo and Mathias Trabandt
Published: March 2020

DP14519    Intergenerational ties and case fatality rates: A cross-country analysis
Author(s): Christian Bayer and Moritz Kuhn
Published: March 2020

DP14511    Feverish Stock Price Reactions to COVID-19
Author(s): Stefano Ramelli and Alexander F Wagner
Published: March 2020

DP14484    Real-Time Weakness of the Global Economy: A First Assessment of the Coronavirus Crisis
Author(s): Danilo Leiva, Gabriel Pérez-Quirós and Eyno Rots
Published: March 2020

DP10842    Economic Activity and the Spread of Viral Diseases: Evidence from High Frequency Data
Author(s): Jérôme Adda
Published: September 2015

DP10730    Averting Catastrophes: The Strange Economics of Scylla and Charybdis
Author(s): Ian Martin and Robert Pindyck
Published: July 2015


Policy Insights


India's Lockdown

CEPR Policy Insight No 102

Debraj RayS SubramanianLore Vandewalle

On March 24, 2020, the Government of India ordered a nationwide lockdown for 21 days as a preventive measure against the spread of the coronavirus. The lockdown - in full force as we write - restricts 1.3 billion people from leaving their homes. Transport services are suspended, educational institutions are closed, and factories are shut down. This is in line with the measures imposed in most European countries and in the United States, but the sheer scale of the measure- as in the case of most policies in India- is intimidating. Add to this the grim truth of Indian occupational structure and poverty, and you would likely predict what we now see: unending streams of migrants trying to find their way home, the fear of loss of all income, deep privations, and even (in the space of days) hunger, starvation and death.

Born Out of Necessity: A Debt Standstill for COVID-19

CEPR Policy Insight No 103

Patrick BoltonLee. C BuchheitPierre-Olivier GourinchasMitu GulatiChang-Tai HsiehUgo PanizzaBeatrice Weder di Mauro

Many low and middle income countries may face problems servicing their external debts while addressing the COVID-19 emergency. Urgent action is needed to prevent disorderly defaults and litigations. This Policy Insight describes a mechanism to implement a debt standstill which would free significant resources to cover some of the most immediate costs of the COVID-19 crisis.