{"id":55511,"date":"2023-12-01T18:46:30","date_gmt":"2023-12-01T17:46:30","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/uncertainty-in-the-euro-area-during-the-first-wave-of-the-covid-19-pandemic\/"},"modified":"2024-04-22T19:03:01","modified_gmt":"2024-04-22T17:03:01","slug":"uncertainty-in-the-euro-area-during-the-first-wave-of-the-covid-19-pandemic","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/55511\/","title":{"rendered":"Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-55511","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Uncertainty \u2013 a state in which assessing future conditions by economic agents is hampered \u2013 rose sharply during the current pandemic. A bout of uncertainty can have similar effects like an adverse demand shock, dampening private consumption, investment and, hence, inflation. According to our own estimations, however, the pandemic-induced spike of uncertainty has caused little macroeconomic damage so far. The introduction of PEPP was a quick and decisive action that stopped uncertainty from rising further and probably contained its adverse economic effects.","onlinedate":"2021-01-13 12:00:00","lang":"English","publication_series":"","publication_date":"20201101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"33","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":null,"zip":null,"link":"https:\/\/www.europarl.europa.eu\/committees\/en\/econ\/econ-policies\/monetary-dialogue","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"","publisher":"","invisible":false,"external":false,"embargo_date":"2021-01-13 00:00:00","types":[81966],"research_groups":[3500],"collaboration":"","persons":[3865,3497],"persons_data":"[{\"personId\":3865,\"personName\":\"Stefan Schiman\",\"organisationNames\":[]},{\"personId\":3497,\"personName\":\"Atanas Pekanov\",\"organisationNames\":[]}]","clients":[10718],"subclients":[],"partners":[8870,29305,29306,9526],"topics":[40979],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","scientific_assistance":"[\"Steiner Martha\"]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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