Working Paper: CEPR ID: DP18025
Authors: Viral Acharya; Timothy Johnson; Suresh Sundaresan; Steven Zheng
Abstract: No abstract available
Keywords: COVID-19; Stock Prices; Welfare Costs; Vaccine News
JEL Codes: D6; D8; E21; E32; Q54
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Vaccine deployment expectations (F17) | Stock market valuations (G19) |
| Reduction in expected time to vaccine deployment by one year (C69) | Aggregate stock market return (G17) |
| Changes in the vaccine progress indicator (VPI) (O33) | Stock market returns (G17) |
| Stock market response to duration news (G14) | Welfare implications of state transitions (D69) |