COVID-19 effects on the S&P 500 index
Applied Economics Letters
; 30(1):41456.0, 2023.
Article
in English
| Scopus | ID: covidwho-2246585
ABSTRACT
This paper investigates the effects of the coronavirus disease 2019 (COVID-19) cases in the US on the S&P 500 Index using daily data covering the period between 21st January, 2020 and 10th August, 2021. The investigation is achieved by using a structural vector autoregression model, where a measure of the global economic activity and the spread between 10-year treasury constant maturity and the federal funds rate are also included. The empirical results suggest that having (Formula presented.) of an increase in cumulative daily COVID-19 cases in the US results in about (Formula presented.) of a cumulative reduction in the S&P 500 Index after 1 day and about (Formula presented.) of a reduction after 1 week. Historical decomposition of the S&P 500 Index further suggests that the negative effects of COVID-19 cases in the US on the S&P 500 Index have been mostly observed during March 2020. © 2021 Informa UK Limited, trading as Taylor & Francis Group.
Full text:
Available
Collection:
Databases of international organizations
Database:
Scopus
Type of study:
Experimental Studies
Language:
English
Journal:
Applied Economics Letters
Year:
2023
Document Type:
Article
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