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Financial Markets and the COVID-19 Pandemic

Author

Listed:
  • Niels J. Gormsen

    (Booth School of Business, University of Chicago, Chicago, Illinois, USA)

  • Ralph S.J. Koijen

    (Booth School of Business, University of Chicago, Chicago, Illinois, USA)

Abstract

We review the literature on the impact of the COVID-19 pandemic on financial markets. We first document several key facts about equity and fixed-income markets during this period. We then discuss various literatures that analyze broad movements in prices, market dislocations, and the impact of fiscal and monetary policy interventions. We conclude by discussing potential directions for future research.

Suggested Citation

  • Niels J. Gormsen & Ralph S.J. Koijen, 2023. "Financial Markets and the COVID-19 Pandemic," Annual Review of Financial Economics, Annual Reviews, vol. 15(1), pages 69-89, November.
    • Handle: RePEc:anr:refeco:v:15:y:2023:p:69-89
    DOI: 10.1146/annurev-financial-110821-020444
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    More about this item

    Keywords

    pandemics; COVID-19; financial markets;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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