Stefano Ramelli, Alexander Wagner, 12 March 2020

The novel coronavirus represents a fearsome risk which is stirring feverish behaviour by investors worldwide. This column shows that initially, economic expectations about international trade underlay movements in the stock prices of individual firms; later, concerns about corporate debt began to play a role. 

Agnès Bénassy-Quéré, Ramon Marimon, Jean Pisani-Ferry, Lucrezia Reichlin, Dirk Schoenmaker, Beatrice Weder di Mauro, 11 March 2020

The unfolding coronavirus epidemic represents a severe economic stress test for Europe as well as a test of European unity. This column discusses how the crisis might unfold and the appropriate policy response. It advocates a comprehensive emergency package through which the EU would take responsibility for a meaningful share of the overall emergency effort.

Rabah Arezki, Rachel Yuting Fan, 10 March 2020

A combination of supply and demand shocks has sent oil prices plunging and financial markets tumbling. This column argues that if the decline in oil prices persists, it will erode the fragile macroeconomic and social stability of countries, especially in the Middle East and North Africa, that have been hit by the novel coronavirus. 

Richard Baldwin, Beatrice Weder di Mauro, 10 March 2020

How big are Covid-19's economic consequences? That's the theme of a new VoxEU book with contributions from many of the world's most experienced policymakers with expertise in this area. Beatrice Weder di Mauro and Richard Baldwin, the book's editors, give Tim Phillips the (mostly) bad news.

Luca Fornaro, Martin Wolf, 10 March 2020

The consensus is that the coronavirus outbreak will cause a negative supply shock to the world economy, by forcing factories to shut down and disrupting global supply chains. This column develops a simple model to show that the spread of the virus might cause a demand-driven slump, give rise to a supply-demand doom loop, and open the door to stagnation traps induced by pessimistic animal spirits.

Richard Baldwin, Beatrice Weder di Mauro, 06 March 2020

Extraordinary times call for extraordinary efforts

A video interview recorded with Richard Baldwin and Beatrice Weder di Mauro to mark the publication of the CEPR / VoxEU 'instant' eBook, Economics in the Time of Covid-19.  Tim Phillips discusses the themes of the book and the economic challenges ahead

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Richard Baldwin, Beatrice Weder di Mauro, 06 March 2020

The novel coronavirus is both something old and something new. As usual, the pandemic is both an aggregate demand and an aggregate supply shock, but the fact that it has hit China first and hardest, and the supply chain implications of this, make it something new. This column introduces a new Vox eBook containing 14 essays written by leading economists on a wide array of topics related to COVID-19 economics.

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