Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19

Have negative experiences (in particular, natural disasters) that central bankers’ have known in their early life influenced monetary policy decisions in front of the COVID-19 pandemic? We answer this question using a sample of 19 developing countries. We show that central bankers who experienced ep...

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Detalles Bibliográficos
Autores principales: Aslam, Maqsood, Farvaque, Etienne
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier Inc. 2022
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8734203/
https://www.ncbi.nlm.nih.gov/pubmed/35013675
http://dx.doi.org/10.1016/j.frl.2021.102060
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author Aslam, Maqsood
Farvaque, Etienne
author_facet Aslam, Maqsood
Farvaque, Etienne
author_sort Aslam, Maqsood
collection PubMed
description Have negative experiences (in particular, natural disasters) that central bankers’ have known in their early life influenced monetary policy decisions in front of the COVID-19 pandemic? We answer this question using a sample of 19 developing countries. We show that central bankers who experienced episodes of epidemics in their early life lowered interest rates faster and lower during the COVID-19 pandemic. Personal experience of decision-makers has contributed strongly to explain their behavior during the crisis.
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spelling pubmed-87342032022-01-06 Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19 Aslam, Maqsood Farvaque, Etienne Financ Res Lett Article Have negative experiences (in particular, natural disasters) that central bankers’ have known in their early life influenced monetary policy decisions in front of the COVID-19 pandemic? We answer this question using a sample of 19 developing countries. We show that central bankers who experienced episodes of epidemics in their early life lowered interest rates faster and lower during the COVID-19 pandemic. Personal experience of decision-makers has contributed strongly to explain their behavior during the crisis. Elsevier Inc. 2022-01 2021-04-20 /pmc/articles/PMC8734203/ /pubmed/35013675 http://dx.doi.org/10.1016/j.frl.2021.102060 Text en © 2021 Elsevier Inc. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active.
spellingShingle Article
Aslam, Maqsood
Farvaque, Etienne
Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title_full Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title_fullStr Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title_full_unstemmed Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title_short Once bitten, twice bold? Early life tragedy and central bankers’ reaction to COVID-19
title_sort once bitten, twice bold? early life tragedy and central bankers’ reaction to covid-19
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8734203/
https://www.ncbi.nlm.nih.gov/pubmed/35013675
http://dx.doi.org/10.1016/j.frl.2021.102060
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