Black swans and economic policy
14 May 2020
Market volatility has never been as high as during the outbreak of Covid-19. On March 16th, the VIX index (also known as the “fear index”) hit its record high of more than 82 percentage points. Market data such as future prices on VIX showed that the investors’ concerns about the economic effects of coronavirus were more acute and likely to persist more than during the 2007-2009 Global Financial Crisis.
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