The COVID-19 pandemic has inflicted an economic hardship unprecedented for the modern
age. In this paper, we show that the health crisis and ensuing lockdown, came with an …

In 2020, household incomes were severely hit by the lockdowns imposed across the world
in response to the COVID-19 pandemic. Using data from the last available wave of the euro …

This article discusses a form of fiscal monetization that produces losses in the central bank's
balance sheet, without a permanent increase in the money base. If an independent central …

This paper investigates households' financial fragility in twelve European countries and in
the US by employing the first wave of the Household Finance and Consumption Survey …

We have helicopter money when there is a lump-sum monetary transfer which produces
intended central bank capital losses and/or a permanent monetary base change. This …

We have helicopter money when there is a one-shot creation of irredeemable fiat money
through intended central bank capital losses and/or a permanent monetary base change …

The spread of the new coronavirus (COVID-19) in early 2020 led to some of the most
significant declines in stock prices (Baker et al. 2020, Cahn and March 2020, Ramelli and …