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The Economic Effects of COVID-19 Containment Measures (IMF, 27 page read) NO2 emissions, flight data, energy consumption, maritime trade and mobility are all used as real-time economic activity proxies to find that containment measures reduced industrial production by about 15%. Workplace closures and stay-at-home orders were the most costly measures.
Trade Flows and Fiscal Multipliers (NBER, 43 page read) Countries that are more open to trade, regardless of their initial current account position, can expect a higher economic windfall from unexpected fiscal policy measures.
Measuring Income Inequality and Implications for Economic Transmission Channels (IMF, 36 page read) A comprehensive answer to a question that we all want to understand – how does higher inequality affect a country’s growth outlook? In short, it depends on what you use as your measure of inequality. This result captures nicely the perils of income inequality research.