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COVID-19 pandemic

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Full-Text Articles in Social and Behavioral Sciences

Group Counseling Preparation Amidst Crisis And Disaster: An Interpretive Phenomenological Analysis, Heather C. Sands, Kristopher M. Goodrich, Monique N. Rodríguez, Kelley R. Holladay, Renee C. Howells Jun 2024

Group Counseling Preparation Amidst Crisis And Disaster: An Interpretive Phenomenological Analysis, Heather C. Sands, Kristopher M. Goodrich, Monique N. Rodríguez, Kelley R. Holladay, Renee C. Howells

Journal of Counselor Preparation and Supervision

There is consensus that group counseling and the use of telehealth platforms (i.e., phone or video conferencing usage) are highly effective interventions during and in response to crises and disaster situations. Wishing our Counselor Education and Supervision (CES), program had access to this information prior to the COVID-19 pandemic; we use this study to reflect on what we learned from that time. Building from the experiences of eight masters-level students enrolled in a group counseling internship at the height of the pandemic, this manuscript connects our programmatic oversights to the sparsity of information related to group counseling and the use …


The Power Of Qualitative Research: Cultivating Autoethnography For Personal Awakening, Humanity, And Transformation, Kien Nguyen-Trung Dr May 2024

The Power Of Qualitative Research: Cultivating Autoethnography For Personal Awakening, Humanity, And Transformation, Kien Nguyen-Trung Dr

The Qualitative Report

This article is an autoethnography of how engaging with my previous autoethnographic article facilitated my recovery and self-growth. I wrote my previous piece (Nguyen-Trung, 2022) while stranded in Australia due to the COVID-19 pandemic, which prevented me from visiting my grandfather one last time before his passing in 2021. If my past autoethnography focused on the themes of death, grief, and loss, the current article’s autoethnography revolves around awakening, healing, and self-transformation. In this current article, I reflexively look back on my autoethnographic journey and reflect on how it impacted me as a grandchild and a human being on the …


Capital Expenditure Dynamics In Asean: Unveiling Determinants And The Impact Of The Covid-19 Pandemic On Non-Financial Corporations, Solikin M. Juhro, Dhaha Praviandi Kuantan, Charvin Lim Mar 2024

Capital Expenditure Dynamics In Asean: Unveiling Determinants And The Impact Of The Covid-19 Pandemic On Non-Financial Corporations, Solikin M. Juhro, Dhaha Praviandi Kuantan, Charvin Lim

Bulletin of Monetary Economics and Banking

This study investigates the intricate determinants influencing the capital expenditure behavior of Non-Financial Corporations (NFCs) in major ASEAN countries over the past decade. Employing a fixed effect panel analysis encompassing 1,488 NFCs in Indonesia, Malaysia, Thailand, and the Philippines, our study unveils a robust and statistically significant relationship between corporate financial performance and capital expenditure. Notably, indicators such as profitability, market value, and cash flow rate demonstrate a positive association with heightened capital expenditure. Furthermore, macroeconomic conditions and policy-related variables emerge as influential factors affecting capital expenditure decisions. Stringent financial conditions tend to hamper firm investment decisions, whilst interest rate …


Comparison Of The Financial Market Conditions In Poland And Selected Countries During The Pandemic And The Russian-Ukrainian War, Dorota Żebrowska-Suchodolska, Andrzej Karpio Mar 2024

Comparison Of The Financial Market Conditions In Poland And Selected Countries During The Pandemic And The Russian-Ukrainian War, Dorota Żebrowska-Suchodolska, Andrzej Karpio

Journal of Banking and Financial Economics

The initial period of the COVID-19 pandemic and the outbreak of the Russian-Ukrainian war had a significant impact on financial markets. The aim of the work is to analyse the behaviour of selected segments of the Polish financial market in the initial period of the pandemic and war. The research is based on two measures of risk, relative and absolute. The research covers the period from 24 February 2022 to 22 August 2022. The research focuses on segments of the Warsaw Stock Exchange through the analysis of the following indices: WIG, WIG20, mWIG40, sWIG80, NCIndex, industry indices, and the TBSP …


How To Develop A Qualitative Evaluation Plan For A Complex National Intervention: Key Steps And Reflections From The Radx-Up Program, Shelly A. Maras, Josephine Mckelvy, Kelley Milligan, Allyson Kelley, Valerie A. Lucas, Tara Carr, Abisola Osinuga, Leah Frerichs, Gaurav Dave Mar 2024

How To Develop A Qualitative Evaluation Plan For A Complex National Intervention: Key Steps And Reflections From The Radx-Up Program, Shelly A. Maras, Josephine Mckelvy, Kelley Milligan, Allyson Kelley, Valerie A. Lucas, Tara Carr, Abisola Osinuga, Leah Frerichs, Gaurav Dave

The Qualitative Report

This article describes the formative process of developing and implementing a Qualitative Evaluation Plan (QEP) for a large-scale, National Institute of Health (NIH) supported program: Rapid Acceleration of Diagnostics — Underserved Populations (RADx-UP). RADx-UP includes over 137 projects in the United States that aim to ensure that all Americans have access to timely, accurate diagnostics for COVID-19, with a specific focus on populations the pandemic disproportionately affects. As part of a comprehensive, mixed-methods strategic evaluation plan, our team developed the QEP. We employed qualitative methods to understand RADx-UP academic and community partners’ experiences implementing community-engaged research strategies, and to understand …


College Student Mental Health In The Covid-19 Era: Results Of An Expressive Writing Prompt, Carissa Daniello-Heyda, Kevin Hynes, Rachel R. Tambling Dec 2023

College Student Mental Health In The Covid-19 Era: Results Of An Expressive Writing Prompt, Carissa Daniello-Heyda, Kevin Hynes, Rachel R. Tambling

The Qualitative Report

The novel SARS-CoV-2, or coronavirus, has greatly altered the landscape of college life for students across the United States. The ever-present health concerns and quarantine have been linked to increased anxiety, depression, stress, and post-traumatic stress disorder. To this end, we examined the influence of the COVID-19 pandemic on the psychosocial health of college students. We explored the impact of COVID-19 on levels of stress and distress in college students using a qualitative expressive writing methodology. Results of this study suggested that the college students included in the sample were moderately distressed – their scores on inventories of depression, anxiety, …


Cooperative Extension Programming For Early Care And Education Professionals During The First Year Of The Covid-19 Pandemic: Evidence From A National Survey Of Extension Systems, Katherine Speirs, Azriella Friedman, Courtney Luecking, Kyleigh Brown Dec 2023

Cooperative Extension Programming For Early Care And Education Professionals During The First Year Of The Covid-19 Pandemic: Evidence From A National Survey Of Extension Systems, Katherine Speirs, Azriella Friedman, Courtney Luecking, Kyleigh Brown

Journal of Human Sciences and Extension

Cooperative Extension Systems (CESs) provide programming to early care and education (ECE) professionals. The COVID-19 pandemic significantly impacted the needs of ECE professionals. The purpose of this study was to document how CESs helped ECE professionals respond to the pandemic during its first year and how Extension programming was altered in response to the pandemic. Between March and June 2020, representatives from all 87 CESs in the 50 U.S. states; Washington, DC; and six U.S. territories were invited to complete an online survey that included six questions about the pandemic. We received responses from 43 CESs (49% response rate). The …


How The Manufacturing Extension Partnership Can Anchor U.S. Workforce Development, Matthew D. Wilson, Nichola Lowe, Greg Schrock, Rumana Rabbani, Allison Forbes Aug 2023

How The Manufacturing Extension Partnership Can Anchor U.S. Workforce Development, Matthew D. Wilson, Nichola Lowe, Greg Schrock, Rumana Rabbani, Allison Forbes

Employment Research Newsletter

No abstract provided.


Factor Analysis And Reliability Of The Pro-Lockdown Compliance Scale, Lijo Kochakadan Joy, Manu Ramachandran, Jessy Fenn, Chee-Seng Tan Jul 2023

Factor Analysis And Reliability Of The Pro-Lockdown Compliance Scale, Lijo Kochakadan Joy, Manu Ramachandran, Jessy Fenn, Chee-Seng Tan

Makara Human Behavior Studies in Asia

A multilevel lockdown was introduced during the COVID-19 pandemic worldwide. This new experience, however, received mixed responses from the public in different countries including India. A quantitative self-report, the Pro-Lockdown Compliance Scale (Pro-LCS), was developed to help 1) the Government and enforcing agents understand the compliance level of the public and 2) researchers investigate the antecedent factors of the compliance of the lockdown measures. The initial 10 items were administered to 309 male residents in Kerala via an online survey. The responses were randomly divided and submitted to exploratory and confirmatory factor analyses. Both analyses consistently support that the scale …


Effect Of The Zero-Covid Policy On Chinese Fdi Inflows And Government’S Response: Has The Pandemic Led To Distinctive Paradigm Change In China’S Hypergrowth Approach To Development?, Nicolas Demeure, Brice Tseen Fu Lee Jul 2023

Effect Of The Zero-Covid Policy On Chinese Fdi Inflows And Government’S Response: Has The Pandemic Led To Distinctive Paradigm Change In China’S Hypergrowth Approach To Development?, Nicolas Demeure, Brice Tseen Fu Lee

Journal of Strategic and Global Studies

This study examines the effects of China's zero-covid policy on its economy and investigates whether the policy reflects a broader shift in the country's development paradigm. Employing a mixed-methods approach, we analyze key macroeconomic indicators, conduct case studies of strict lockdowns, perform textual analysis of official documents, and apply the concept of fragmented authoritarianism to explore the relationship between central and local governments. The findings indicate that while the zero-covid policy has had negative economic repercussions, China's response does not signify a major departure from its pre-pandemic development paradigm. The initial success of the policy in curbing the spread of …


“Is This Anthropological Enough?” Reflection On Ethnographic Fieldwork And Limitations Of The Body, Sari Damar Ratri, Hestu Prahara Jun 2023

“Is This Anthropological Enough?” Reflection On Ethnographic Fieldwork And Limitations Of The Body, Sari Damar Ratri, Hestu Prahara

Antropologi Indonesia

This article reflects on the troubling aspects of an ethnographic method that helps to maintain anthropology as a discipline of the privileged. The Covid-19 pandemic has changed how people interact socially. Although much ethnographic fieldwork is situated in settings that require face-to-face interactions, the pandemic has made the prospect of future fieldwork in the same manner uncertain. Learning from the current physical distancing, we discuss ethnographic methods that center on possibilities and limitations of the body as a tool of inquiry. We reflect on the possibilities of conducting ethnographic fieldwork when the body as a corporeal entity is undergoing physical …


Death Cafés As A Strategy To Foster Compassionate Communities: Contributions For Death And Grief Literacy May 2023

Death Cafés As A Strategy To Foster Compassionate Communities: Contributions For Death And Grief Literacy

The International Journal of Ecopsychology (IJE)

The death-positive movement, the most recent manifestation of the death awareness movement, contends that modern society is suffering from a “death taboo” and that people should talk more openly about death. This movement is striving to shift the dialogue about (and place of) death and dying into community spaces. Death literacy is defined as a set of skills and knowledge enabling people to learn about, understand, and act on end-of-life and death-care options. People and groups with a high level of death literacy have a context-specific comprehension of the death system and can more easily adapt to it, becoming better …


Temporal Changes In Energy-Balance Behaviors And Home Factors In Adolescents With Normal Weight And Those With Overweight Or Obesity, Senlin Chen, Chelsea L. Kracht, Robbie A. Beyl, Amanda E. Staiano May 2023

Temporal Changes In Energy-Balance Behaviors And Home Factors In Adolescents With Normal Weight And Those With Overweight Or Obesity, Senlin Chen, Chelsea L. Kracht, Robbie A. Beyl, Amanda E. Staiano

International Journal of Physical Activity and Health

This study aimed to examine the temporal changes in energy-balance behaviors and home factors in adolescents with normal weight and those with overweight or obesity (OWOB). Adolescents or parent proxies completed survey assessments two to four years before (T0; n = 82), ≤ six months before (T1; n = 68), and ≤ three months after the COVID-19 pandemic outbreak (T2; n = 82), to capture energy-balance behaviors (i.e., physical activity [PA], screen time, sleep) and home factors (i.e., food environment, food worry, parent support for PA). At T0 and T1 (before pandemic), participants visited our laboratory for anthropometric measurements. At …


Examining Telemental Health In Mississippi: Brief Report, Mario Sobrino, Monica L. Coleman, Janita Springfield, Sheerah Neal, Amanda Winburn Mar 2023

Examining Telemental Health In Mississippi: Brief Report, Mario Sobrino, Monica L. Coleman, Janita Springfield, Sheerah Neal, Amanda Winburn

Journal of Counseling Research and Practice

The term telemental health has become a staple of the modern counselor’s lexicon since the start of the COVID-19 pandemic and has led to a surge of new research and practical information for counselors to engage in effective, socially distanced mental health services. Telemental health (TMH) is identified as the use of telecommunication, videoconferencing, and internet-based technologies to provide mental health services (Holland et al., 2018). Although TMH is regarded as an efficient treatment modality for a myriad of mental health issues, the cardinal purpose of its origination was to reduce or eliminate geographic barriers to receiving mental health treatment …


Exploring The Impacts Of The Covid-19 Pandemic On The Number Of Reported Missing Persons In Canada During 2020, Alexandria Connolly, Mauranne Ste-Marie, Kevin O'Shea Feb 2023

Exploring The Impacts Of The Covid-19 Pandemic On The Number Of Reported Missing Persons In Canada During 2020, Alexandria Connolly, Mauranne Ste-Marie, Kevin O'Shea

International Journal of Missing Persons

The COVID-19 pandemic has resulted in notable social and economic impacts in many countries, including Canada. This study examines the impacts of the COVID-19 pandemic on the number of reported missing persons, adults and children, in Canada during 2020. Results indicate that there was a decrease in the number of reported missing persons cases during 2020 as compared to 2019 by 20.20%. All provinces and territories experienced a decrease, with the exception of New Brunswick. The pandemic had notable impacts specifically on the number of reported missing children, missing teenagers, and missing male individuals in general. This study provides a …


Collapsing Spaces, Colliding Places: Leveraging Constructs From Humanistic Geography To Explore Mathematics Classes, Valentin A. B. Küchle, Shiv S. Karunakaran, Mariana Levin, John P. Smith Iii, Sarah Castle, Jihye Hwang, Yaomingxin Lu, Robert A. Elmore Feb 2023

Collapsing Spaces, Colliding Places: Leveraging Constructs From Humanistic Geography To Explore Mathematics Classes, Valentin A. B. Küchle, Shiv S. Karunakaran, Mariana Levin, John P. Smith Iii, Sarah Castle, Jihye Hwang, Yaomingxin Lu, Robert A. Elmore

Journal of Humanistic Mathematics

Humanistic geographers distinguish between space and place: “What begins as undifferentiated space becomes place as we get to know it better and endow it with value” (Tuan, 1977, page 6). In this essay, we seek to demonstrate how mathematics education researchers and mathematics instructors may find space and place illuminating for understanding important aspects of students’ learning experiences during the coronavirus pandemic—and possibly beyond. Specifically, after introducing the terms and relating them to the context of a university mathematics class, we exemplify how home and class places collided for three undergraduate mathematics students forced to deal with the abrupt …


Practicum Student Counselor Identity Development Through The Covid-19 Pandemic, Joy Teles Oliveira, Sarah A. Silveus Jan 2023

Practicum Student Counselor Identity Development Through The Covid-19 Pandemic, Joy Teles Oliveira, Sarah A. Silveus

Teaching and Supervision in Counseling

The process of developing a counselor identity is a complex task, and it starts as early as when a student first enrolls in a Master’s program. Within the events surrounding COVID-19, limited information is known about how that experience might have affected counseling students' professional identity development. Through Interpretive Phenomenological Analysis, we explored the counselor identity development process of Master’s-level counseling practicum students (n=6) during the events of the COVID-19 pandemic. Emerging themes indicated that students' experiences throughout the pandemic had a unique influence on their conceptualization of the practicum experience. Findings illustrated that these events slowed some aspects of …


Experiences Of Covid-19 Recovered Patients: A Qualitative Case Study From A Hotspot In Saudi Arabia, Abdulrahman Alhajjaji Alhajjaji, Ahmad Kurdi, Sultan Faqeh, Safwan Alansari, Akrm Abdulaziz, Moayad Allihyani, Omar Almaghamsi, Ejaz Cheema, Majid Ali Jan 2023

Experiences Of Covid-19 Recovered Patients: A Qualitative Case Study From A Hotspot In Saudi Arabia, Abdulrahman Alhajjaji Alhajjaji, Ahmad Kurdi, Sultan Faqeh, Safwan Alansari, Akrm Abdulaziz, Moayad Allihyani, Omar Almaghamsi, Ejaz Cheema, Majid Ali

The Qualitative Report

It is difficult to maintain social distancing in highly populated areas where people live in proximity. This study aimed to qualitatively explore experiences of COVID-19 recovered patients residing in one such area. We employed semi-structured face-to-face interviews. An interview guide was developed, validated, piloted, and minor changes were made. People living in this area, above 18 years of age, and recovered from COVID-19 were approached for the interviews, 11 of them were recruited to be interviewed, and their verbal informed consent was audio recorded. The interviews were conducted in the Arabic language in a semi-private area of the community center, …


The Relationship Between Coronavirus-Related Anxiety On Physical Frailty, Psychological Frailty, And Social Frailty In Older Community-Dwellers In Taiwan During The Covid-19 Pandemic, I-Chun Chen, Shao-Hsi Chang Jan 2023

The Relationship Between Coronavirus-Related Anxiety On Physical Frailty, Psychological Frailty, And Social Frailty In Older Community-Dwellers In Taiwan During The Covid-19 Pandemic, I-Chun Chen, Shao-Hsi Chang

Journal of Health Research

Background: Most activities in community centers have declined as a countermeasure against the COVID-19 pandemic. Consequently, multidimensional frailty rates gradually worsened. This research aimed to explore coronavirus-related anxiety and others factors that influence physical, psychological, and social frailty in older community-dwellers in Taiwan during the COVID-19 pandemic.

Methods: Two hundred and eight (208) elderlies over 65 years of age who lived in 12 administrative districts of Taipei City during the COVID-19 pandemic completed online questionnaires. The questionnaire asked for basic information, and included the coronavirus Pandemic Anxiety Scale, SARC-CalF of physical frailty, the Tilburg Frailty Indicator of psychological frailty, and …


Veterinary Medicine And The Covid-19 Pandemic: An International, Interdisciplinary Study Of A Globalwicked Problem, Daniella Fedak-Lengel Jan 2023

Veterinary Medicine And The Covid-19 Pandemic: An International, Interdisciplinary Study Of A Globalwicked Problem, Daniella Fedak-Lengel

International ResearchScape Journal

Building on field research in Costa Rica and Belize, this study analyzes environmental and endangered animal protection policies, rights, and practices in Central America, and assesses impacts of veterinary science and conservation biology on animal welfare concerns. Informed by the recent surge in awareness regarding the spread of zoonotic diseases, given COVID-19, the study analyzes Manis javanica and the impact of illegal trafficking of this critically endangered animal. The project theorizes if awareness of zoonotic disease transmission, especially during a global pandemic, could be key to reducing sales, legal or illegal, of wild animals in order to mitigate zoonotic infection …


Weathering State And Local Budget Storms: Fiscal Federalism With An Uncooperative Congress, David Gamage, Darien Shanske, Gladriel Shobe, Adam Thimmesch Dec 2022

Weathering State And Local Budget Storms: Fiscal Federalism With An Uncooperative Congress, David Gamage, Darien Shanske, Gladriel Shobe, Adam Thimmesch

University of Michigan Journal of Law Reform

Throughout most of 2020, state and local governments faced severe budget crises as a result of the COVID-19 pandemic. Increased demand for state welfare services and rising state expenses related to controlling the spread of COVID-19 stretched state and local budgets to their breaking points. At the same time, layoffs, business closures, and social distancing measures reduced states’ primary sources of tax revenues. The traditional practice of American fiscal federalism is for the federal government to step in to provide aid during a national emergency of this magnitude, because state and local governments lack the federal government’s monetary and fiscal …


The Resilience Of Proximity Tourism During The Pandemic: Local Walking Tours Of Budapest, János Klaniczay Nov 2022

The Resilience Of Proximity Tourism During The Pandemic: Local Walking Tours Of Budapest, János Klaniczay

International Journal of Tour Guiding Research

Global tourism was hit hard by the Covid-19 pandemic, but an exception can be seen among walking tour companies providing tours for locals in Budapest, who saw a rise in demand for their tours during the summer and early autumn of 2020. During pre-pandemic times tourism levels broke records annually, and one of the main concerns was overtourism in certain cities, but due to COVID-19, international arrivals hit record-lows and millions of jobs became endangered. Meanwhile data show that local alternative walking tours in Budapest could operate sustainably during the pandemic at almost the same capacity as before, because local …


The Impact Of The Corona Pandemic On Spending Priorities Within The Egyptian Family: Field Study In The City Of Greater Cairo, Amira Abdelazeem Fadl Shanab Oct 2022

The Impact Of The Corona Pandemic On Spending Priorities Within The Egyptian Family: Field Study In The City Of Greater Cairo, Amira Abdelazeem Fadl Shanab

Journal of the Faculty of Arts (JFA)

.AbstractThe study seeks to monitor the impact of the economic risks and challenges imposed by the COVID-19 pandemic on the changing spending priorities Within the Egyptian family. The study also attempts to identify the role of disparities between social classes in reordering spending priorities within the Egyptian family during the COVID-19 pandemic. The Study is based on the descriptive method, the comparative approach, the sample social survey method, and the way to approach the case as general methods for study. The tools used to approach this case study, namely, the questionnaire form, interview guide and observation guide were applied on …


“My Companion Through The Pandemic”: The Importance Of The Human-Animal Bond During Covid-19, Christine Krouzecky, Jan Aden, Anastasiya Bunina, Katharina Hametner, Armin Klaps, Zuzana Kovacovsky, Nora Ruck, Birgit Ursula Stetina Sep 2022

“My Companion Through The Pandemic”: The Importance Of The Human-Animal Bond During Covid-19, Christine Krouzecky, Jan Aden, Anastasiya Bunina, Katharina Hametner, Armin Klaps, Zuzana Kovacovsky, Nora Ruck, Birgit Ursula Stetina

People and Animals: The International Journal of Research and Practice

The COVID- 19 pandemic, due to its global biopsychosocial effects, encourages re-search regarding the promotion of health. Studies in this area concentrate on the human–animal bond as a source of physical and psychological well- being (Shoesmith et al., 2021). In this context, contradictory results have been reported, which on the one hand underline the positive influences of animal companionship on humans’ well- being (Ratschen et al., 2020), and on the other hand demonstrate contrary effects (Mueller et al., 2021). Based on inconsistent findings, the present study aimed to investigate to what extent the human–animal bond influences different psychosocial parameters (including …


Lessons Learned: Mark Van Der Weide, Matthew A. Lieber Jul 2022

Lessons Learned: Mark Van Der Weide, Matthew A. Lieber

Journal of Financial Crises

With more than two decades of continuing service at the Federal Reserve Board, Mark Van Der Weide brings a unique insider perspective on central bank policymaking before, during, and after the Global Financial Crisis (GFC), including the Fed’s response to the COVID-19 pandemic in 2020. From 1998 to 2009, Van Der Weide served in the Fed’s legal division. De-tailed to the Treasury Department in 2009, he helped draft the Dodd-Frank Wall Street Re-form and Consumer Protection Act of 2010. Back at the Fed in 2010, Van Der Weide served for eight years in the Division of Supervision and Regulation, where …


Lessons Learned: David Wilcox, Mercedes Cardona Jul 2022

Lessons Learned: David Wilcox, Mercedes Cardona

Journal of Financial Crises

David Wilcox was the deputy director of the Division of Research and Statistics of the Federal Reserve Board of Governors during the Global Financial Crisis of 2007-¬09. He assisted in developing the Federal Reserve policy response that ultimately stabilized the economy by providing insight into the economic and financial outlook to the Federal Open Market Committee (FOMC) prior to each of its policy-setting meetings. Wilcox became director of the division in 2011 and served in that role through 2018, acting as the division’s chief economist, manager, and the senior adviser to three Fed chairs. After leaving the Fed, he joined …


Thailand: Bond Stabilization Fund, Corey N. Runkel Jul 2022

Thailand: Bond Stabilization Fund, Corey N. Runkel

Journal of Financial Crises

Early in the COVID-19 crisis, non-financial businesses grew concerned that they would be unable to roll over their maturing bonds. To calm corporate debt markets, the Bank of Thailand (BOT) announced the Bond Stabilization Fund (BSF) on March 22, 2020. The BSF planned to purchase newly issued commercial paper from viable companies that could not roll over their maturing bonds. However, the program was not used. The BOT, seeking to avoid public criticism for directly supporting large corporations, imposed restrictions that made the program less attractive to borrowers. The main deterrent to participation was the requirement that borrowers must have …


Eurozone: Pandemic Emergency Purchase Program, Corey N. Runkel Jul 2022

Eurozone: Pandemic Emergency Purchase Program, Corey N. Runkel

Journal of Financial Crises

The COVID-19 pandemic quickly engulfed the European Union's economy in 2020. As investors sought safe assets, marketable debt yields rose dramatically. To lower the cost of borrowing, the European Central Bank (ECB), alongside the 19 national central banks (NCBs) that comprise the Eurosystem, purchased marketable debt in secondary markets. Asset eligibility mirrored that of the ECB's Asset Purchase Program (APP), an ongoing quantitative easing program which the ECB expanded during the pandemic. The main difference was that the PEPP allowed debt issued by Greece, which did not have an investment-grade credit rating. The rate that the PEPP purchased securities within …


Canada: Government Bond Purchase Program, Corey N. Runkel Jul 2022

Canada: Government Bond Purchase Program, Corey N. Runkel

Journal of Financial Crises

In Canada, the shock of the COVID-19 crisis drove up bid-ask spreads on Government of Canada (GoC) bonds. The Bank of Canada (BoC) announced the Government Bond Purchase Program (GBPP) to support the functioning of its government bond market, support other market liquidity tools, and replace the BoC's long-standing fiscal agent activities. The GBPP conducted multi-rate reverse auctions with primary dealers to purchase GoC bonds in the secondary market. The GBPP purchased bonds across the yield curve but concentrated on two- and five-year tenors. In June 2020, with CAD 64.7 billion (USD 48 billion) outstanding, the BoC announced that the …


Canada: Bankers’ Acceptance Purchase Facility, Corey N. Runkel Jul 2022

Canada: Bankers’ Acceptance Purchase Facility, Corey N. Runkel

Journal of Financial Crises

Bankers’ acceptances (BAs) are a form of investment security guaranteed by banks to fund loans to businesses against their credit lines. In Canada, BAs underpin the Canadian Dollar Offered Rate (CDOR), the main benchmark used to calculate floating interest rates in Canada’s derivatives market. In 2018, BAs formed the largest segment of money market securities traded in the secondary market at around CAD 35 billion (USD 26 billion) per week. When asset managers and the country’s public pension providers began shedding BAs amid the COVID-19 pandemic in early 2020, CDOR spiked, and the effects threatened to ripple throughout the Canadian …