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

Author

Listed:
  • Veniamin Todorov

    (University of Economics – Varna, Bulgaria)

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.

Suggested Citation

  • Veniamin Todorov, 2022. "The Covid-19 Crisis and the Uncertainty in the Course of the Business Cycle," Scientific Conference of the Department of General Economic Theory, University of Economics - Varna, issue 1, pages 360-367.
    • Handle: RePEc:vrn:oitcon:y:2022:i:1:p:360-367
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    More about this item

    Keywords

    Business cycle; COVID-19; Uncertainty;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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