From international debt and equities to venture capital and ESG investing, these projects examine the long and short-term impacts of COVID-19 on global financial markets

"Born Out of Necessity: A Debt Standstill for COVID-19" by Patrick Bolton, Lee Buchheit, Pierre-Olivier Gourinchas, Mitu Gulati, Chang-Tai Hsieh, Ugo Panizza, Beatrice Weder di Mauro

Imperial author(s): Patrick Bolton

The G20 needs to go further in pausing debt owed by middle and lower income countries.

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"Financial Distancing: How Venture Capital Follows the Economy Down and Curtails Innovation" by Sabrina T. Howell, Josh Lerner, Ramana Nanda, Richard R. Townsend

Imperial author(s): Ramana Nanda

The pandemic has caused a decline in early-stage venture capital investment – one that could have significant implications for innovation.

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"COVID-19 Tail Risk and Predictive Regressions" by Walter Distaso, Rustam Ibragimov, Alexander Semenov, Anton Skrobotov

Imperial author(s): Walter Distaso, Rustam Ibragimov

This project focuses on econometrically justified robust analysis of the effects of the COVID-19 pandemic on the world’s financial markets.

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"Short-Selling Bans in Europe: Evidence from the COVID-19 Pandemic" by Pasquale Della Corte, Robert Kosowski, Nikolaos P. Rapanos

Imperial author(s): Pasquale Della CorteRobert KosowskiNikolaos P. Rapanos

An examination of the impact of short-selling bans introduced by a number of European regulators between March and May 2020.

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"Nowcasters versus Newscasters" by Salman Baig, Robert Kosowski, and Jerome Teiletche

Imperial author(s): Robert Kosowski

The recent literature has documented the use of Nowcasters for the purpose of asset allocation across traditional and alternative risk premia. In this paper we introduce an evolution of this framework based on what we call Newscasting, which is the use of macro news sentiment signals to augment and improve the existing dynamic systematic Nowcaster signals.

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"Emergency Preparedness and Uncertainty Persistence" by Savitar Sundaresan

Imperial author(s): Savitar Sundaresan

This project aims to develop a theory that can explain patterns of repeated, persistent spikes in financial and real uncertainty.

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"Firm-level Risk Exposures and Stock Returns in the Wake of COVID-19" by Stephen J. Davis, Stephen Hansen, and Christhian Seminario-Amez

Imperial author(s): Stephen Hansen

An explanation on firm-level stock prices in the pandemic era using regulatory filings, which provides insight into how COVID-19 will reallocate resources in the economy. 

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"Socially Conscious Investors: Mitigating Stock Market Losses During Pandemic Times" by Ruoke Yang, Iva Koci

Imperial author(s): Ruoke Yang, Iva Koci

A study of stock returns associated with socially conscious investment during the pandemic and the months leading up to it.

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