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|z 9781513564753
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Chan-Lau, Jorge.
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|a Hang in There :
|b Stock Market Reactions to Withdrawals of COVID-19 Stimulus Measures /
|c Jorge Chan-Lau, Yunhui Zhao.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2020.
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|a 1 online resource (22 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The COVID-19 pandemic prompted unprecedented economic stimulus worldwide. We empirically examine the impact of a withdrawal of fiscal stimulus policies on the stock markets. After constructing a database of withdrawal events, we use event study analysis and cross-country regressions to assess the difference between the pre- and post-event stock price returns. We find that markets react negatively to premature withdrawals-defined as withdrawals at a time when the daily COVID cases are high relative to their historical average-likely reflecting concerns about the withdrawal impact on the prospects for economic recovery. The design of a successful exit strategy from COVID-19 policy responses should account for these concerns.
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|a Mode of access: Internet
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|a COVID-19
|2 imf
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|a Event Study
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|a Exit Strategy
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|a Stock Prices
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|a Zhao, Yunhui.
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|a IMF Working Papers; Working Paper ;
|v No. 2020/285
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2020/285/001.2020.issue-285-en.xml
|z IMF e-Library
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