Is This Time Different? The Coronavirus Crisis and Its Impacts on the Financial Market
3 Pages Posted: 23 Jul 2021 Last revised: 27 Jul 2021
Date Written: April 16, 2020
Abstract
The coronavirus outbreak has rapidly spread out around the world. It is the worst pandemic episode that is leading to severe deterioration in the real economy and turmoil in the financial market. This time, corporate credit is known as Achilles' heel to turn into a financial crisis. The US government and monetary authority adopt several aggressive policy responses to prevent turmoil in the financial market that can potentially escalate into a financial crisis. However, it should be aware of the burden and the subsequent side-effect of the policy tools.
Suggested Citation: Suggested Citation
Kim, Hyo Sang, Is This Time Different? The Coronavirus Crisis and Its Impacts on the Financial Market (April 16, 2020). KIEP Research Paper, KIEP Opinions no. 184, Available at SSRN: https://ssrn.com/abstract=3889182 or http://dx.doi.org/10.2139/ssrn.3889182
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