Cover IMF Working Papers
Tracking Economic and Financial Policies During COVID-19: An Announcement-Level Database
Author:
Mr. Divya Kirti
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https://orcid.org/0000-0001-6636-6687
,
Yang Liunull

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,
Soledad Martinez Peria
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Ms. Prachi Mishra
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Jan Strasky
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Series:
IMF Working Papers
Volume/Issue:
Volume 2022: Issue 114
Language:
English
Publication Date:
03 Jun 2022
DOI:
https://doi.org/10.5089/9798400213069.001
ISBN:
9798400213069
ISSN:
1018-5941
Pages:
29
Keywords:
Monetary policy; Fiscal policy; Macroprudential policy; Covid-19; Advanced economies; policy measure; bank capital requirement; granular policy; asset purchase; Reserve requirements; Central bank policy rate; Countercyclical capital buffers; Global
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We introduce a new comprehensive announcement-level database tracking the extraordinary fiscal, monetary, prudential, and other policies that countries adopted in response to Covid-19. The database provides detailed information, including sizes where available, for 28 granular policies adopted by 74 countries during 2020. About 5,500 policy measures were announced during this period. Importantly, the database is organized and presented in a format easy for researchers to use in empirical analyses. Announcements were highly correlated across the broad fiscal, monetary, and prudential categories and at more granular levels. Advanced economies (AEs) introduced larger fiscal measures than emerging and developing economies (EMDEs) and relied primarily on large unconventional monetary policies. Bank capital requirements were relaxed widely in both AEs and EMs, while relaxation of provisioning requirements was more common among EMs. Supervisory expectations and reporting requirements were widely relaxed.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2022: Issue 114