In this project, we conduct a comprehensive review of different economic policy measures adopted by 166 countries as a response to the Covid-19 pandemic and create a large database including fiscal, monetary, and exchange rate measures. Furthermore, using principal component analysis (PCA), we construct a Covid-19 Economic Stimulus Index (CESI) that combines all adopted policy measures. This index standardizes economic responses taken by governments and allows us to study cross-country differences in policies. Finally, using simple cross-country OLS regressions we report that the median age of the population, the number of hospital beds per-capita, GDP per-capita, and the number of total cases are all significantly associated with the extent of countries’ economic policy responses.
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Lead investigator: |
Ceyhun Elgin |
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Affiliation: |
Bogazici University |
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Status of data collection |
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Unit of real-time data collection |
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Start date |
2/2020 |
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End date |
6/2020 |
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