Shocks in Europe, changes in uncertainty, and policies
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Abstract
The Covid-19 pandemic shocks have been an important source of uncertainty on several dimensions. These shocks have influenced the landscape, in which policymakers operate, and have created further uncertainty on policy decisions and on their effectiveness. The aim of this paper is to discuss the impact of this uncertainty on the possible evolution of European economies after the current wave of Covid-19. The emphasis is on the implemented policies.
Keywords
- ECB
- Asset Purchase Program
- forward guidance
- bank and government borrowing costs
- financial market volatility
