Discover and read the best of Twitter Threads about #covideconomics

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๐Ÿšจ*๐๐ˆ๐„๐’๐‘ ๐๐ฎ๐๐ ๐ž๐ญ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ ๐‚๐ก๐š๐ซ๐ญ๐ฉ๐š๐œ๐ค* ๐Ÿšจ

All you need to know ahead of next week's #Budget in one... THREAD ๐Ÿ‘‡

1/19
#CovidEconomics
#BudgetSpeech2021
#EconTwitter
The #Budget2021 comes at a critical time when the UK is in the middle of battling the #pandemic and the economy is substantially weakened with uneven effects at industry, household & region level.

Read the economic context to #Budget2021 here ๐Ÿ‘‡

2/19
niesr.ac.uk/publications/uโ€ฆ
We project the UK economy to contract again in 2021Q1 due to the second wave and the winter #lockdown as well as the effects of post-#Brexit adjustment, bringing #GDP to some 11% below pre-#pandemic levels

3/19
Read 19 tweets
๐Ÿ“ขNew paper alert๐Ÿ“ข
"Defaulting on #Covid19 Debt: Domestic or Foreign?" my new paper coauthored with Kirill Shakhnov has been published in #CovidEconomics Vetted and Real Time Papers:
bit.ly/3jMqySP
@cepr_org @voxeu
@cardiffbusiness @economicssurrey #EconTwitter
1/n
We start by observing that #CovidShock is special in two respects: is completely unexpected and causes GDP to fall and public expenditure to rise simultaneously and by large margins. The figure is based on IMF WEO June Update, axes are in percentage points:
2/n
We write a problem of a government unsure about productivity and expenditures and has debts to pay. Importantly, there are two debts: foreign and domestic. Taxes are distortionary and it can default on either obligation.
3/n
Read 8 tweets

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