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Repercussions of Pandemics on Markets and Policy
#MMPMIDC7665727
Hansen LP
Rev Asset Pricing Stud
2020[Oct]; ä (ä): ä PMIDC7665727
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The COVID-19 pandemic that we are experiencing is both tragic and shocking. There
is no question that, except in some Asian countries trained by prior infectious
outbreaks, most policy makers around the world have been ill-prepared to respond
to the crisis. The effects of the coronavirus on our mental and physical health
has been indeed calamitous, and the economic and financial impacts for many have
been truly unfortunate. Furthermore, the extreme nature of the event is
challenging researchers to compile and interpret new evidence that is arriving at
a rapid pace. The editors Hui Chen, Thierry Foucault, Jeffrey Pontiff, and
Nikolai Roussanov and contributing authors are to be commended for assembling and
collating a thought-provoking collection of papers. More time and study will be
needed to fully sift through the evidence and to glean the lessons to be learned
from this pandemic for policy makers and investors. But the evidence and insights
in this volume are a very good start.