The impact of money supply on the real sector during the Covid-19 pandemic: Evidence from OECD countries

Kerim Sinan Alcin (), Merve Hamzaoglu () and Derya Zayim ()
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Kerim Sinan Alcin: Kirklareli University / Turkiye
Merve Hamzaoglu: Istanbul Kultur University / Turkiye
Derya Zayim: Istanbul Technical University / Turkiye

JOURNAL OF LIFE ECONOMICS, 2023, vol. 10, issue 3, 127-140

Abstract: Declared as a pandemic on March 11, 2020, COVID-19 caused a “sudden stop†in the world economy, resulting in both supply and demand shock. Most of the countries responded by monetary expansion to tackle the global economic issue. In this study we aim to find the impacts of these economic policies during COVID 19 on global economy. Our sample includes 33 of OECD countries. We estimate the impact of monetary expansion on the real economy with a linear regression model. The results show that the monetary policy has positively and significantly impacted economic growth even after controlling for fiscal policies.

Keywords: Money Supply Shock; Health Crisis; Financial Markets; COVID-19; OECD countries; Real Economy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:jle:journl:jlecon2060

DOI: 10.15637/jlecon.2060

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