The Covid-19 Crisis and the Uncertainty in the Course of the Business Cycle

Veniamin Todorov
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Veniamin Todorov: University of Economics – Varna, Bulgaria

Scientific Conference of the Department of General Economic Theory, 2022, issue 1, 360-367

Abstract: The study focuses on the idiosyncrasies of uncertainty as a fundamental feature of economic environment, resulting from the proliferation of the SARS-CoV-2 virus and the containment measures related to it. The market approach in measuring uncertainty is applied, using the implied volatility of stock index options prices. The levels of uncertainty are compared for the EU and U.S. economies. The analysis shows a lot of similarities as well as very high correlation, which leads to the conclusion that the COVID-19 impact on the degree of uncertainty has been analogous in both economies.

Keywords: Business cycle; COVID-19; Uncertainty (search for similar items in EconPapers)
JEL-codes: D80 E30 E32 F44 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:oitcon:y:2022:i:1:p:360-367

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