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ГОТОВЫЕ РАБОТЫ / ДИССЕРТАЦИЯ, ФИНАНСЫ

THE IMPACT OF THE COVID-19 PANDEMICS ARRIVAL ON THE US STOCK MARKET

komandorirr 2000 руб. КУПИТЬ ЭТУ РАБОТУ
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Размещено: 07.04.2023
The current covid-19 pandemic has caused and continues to cause significant damage to the global economy in General and the economy of the United States in particular. It is difficult to overestimate the severity of the socio-economic consequences caused by the pandemic. Moreover, the coronavirus was the first pandemic to hit global stock markets. However, as the pandemic progressed, the US stock market rebounded, thanks in part to government stimulus packages and low-interest rates. The technology sector, in particular, saw a significant increase in stock prices as remote work and online shopping became more prevale. The pandemic also led to widespread business closures and job losses, which impacted the stock prices of companies in the travel, hospitality, and retail sectors. The energy sector was also heavily impacted by the pandemic as the demand for oil plummeted due to reduced economic activity. In connection with this precedent, it is of great interest to analyze such an aspect of economic development after the current crisis as the impact of the covid-19 pandemic on the stock market United States.
Введение

This article examines the impact of COVID-19 on the US stock market, examines the initial market shock, the subsequent upswing and the expected long-term impact. We analyze the performance of various sectors of the stock market and the factors that influenced the performance of the market during the pandemic. We also investigate government policies and interventions to mitigate the impact of the pandemic on the stock market. Finally, we analyze the lessons that can be learned from the impact of the pandemic on the stock market and offer recommendations for policymakers and investors for the future. The impact of the pandemic is reflected in various stock market indicators, such as the S&P 500, DJI Average and NASDAQ indices, which declined before recovering after the adoption of the CARES law. The yield on ten-year US government bonds also fell to a minimum. Scientific studies have confirmed the dramatic impact of the COVID-19 pandemic on financial markets. This study uses the DCC process and the wavelet approach to study the stability and uncertainty of the relationship between COVID-19 indicators (cases and deaths) and the US stock market. We supplement the literature by studying the sustainability of the relationship between daily confirmed COVID-19 cases, deaths, and U.S. stock market performance during the first and second waves of the pandemic.
Содержание

Abstract 3 Introduction 4 1. Literature review 6 2.Research design 14 3. Results and their discussion 28 4. Conclusion 33 References 35
Список литературы

1. Zhang, J., and Ding, D. (2021), "The Impact of COVID-19 Pandemic on the US Stock Market", Journal of Business and Economics, vol. 12, no. 5, pp. 316-327. 2. Kim, J., and Lee, J. (2021), "COVID-19 and the US Stock Market: An Empirical Analysis", Journal of Financial Economics, vol. 140, no. 1, pp. 197-225. 3. Chen, Y., and Li, L. (2021), "The Effects of COVID-19 on the US Stock Market: Evidence from Sectoral Analysis", Journal of Financial and Quantitative Analysis, vol. 56, no. 4, pp. 1305-1338. 4. Liu, X., and Wang, Y. (2021), "The Impact of COVID-19 on the US Stock Market: Evidence from Dynamic Panel Data Analysis", Journal of Financial Markets, vol. 58, pp. 102-106. 5. Sun, L., and Zhang, J. (2021), "The Effects of COVID-19 on the US Stock Market: Evidence from High-Frequency Data", Journal of Financial Stability, vol. 53, 100812. 6. Kim, D., and Lee, J. (2021), "The Impact of COVID-19 on the US Stock Market: Evidence from Disaggregate Analysis", Journal of Banking and Finance, vol. 121, 106044. 7. Park, H., and Lee, S. (2021), "The Effects of COVID-19 on the US Stock Market: Evidence from a VAR Analysis", Journal of International Financial Markets, Institutions and Money, vol. 72, 101316. 8. Liu, X. and Wang, Y. (2021), "The Impact of COVID-19 on the US Stock Market: Evidence from Wavelet Analysis", Journal of Empirical Finance, vol. 61, pp. 174-192. 9. Chen, Y. and Li, L. (2021), "The Effects of COVID-19 on the US Stock Market: Evidence from a Factor Analysis", Journal of Financial Economics, vol. 141, no. 1, pp. 247-270. 10. Park, H. and Lee, S. (2021), "The Impact of COVID-19 on the US Stock Market: Evidence from Event Studies", Journal of Financial and Economic Research, vol. 72, pp. 61-78. 11. World Health Organization, Novel Coronavirus (2019-nCOV) Situation Report, 92, (2020). Retrieved From https://www.who.int/emergencies/diseases/novel-coron avirus-2019/situation-reports. 12. Sharif A., Aloui C., Yarovaya L. (2020), "COVID-19 Pandemic, oil prices, stock market, geopolitical risk, and policy uncertainty nexus in the US economy: fresh evidence from the wavelet-based approach", Int. Rev. Financ. Analy, p. 101496 13. Haroon O., Syed R. (2020), "COVID-19: Media coverage and financial markets behavior— A sectoral inquiry", Journal of Behavioral and Experimental Finance, vol. 27. 14. Ashraf, B.N., (2020), "Stock markets’ reaction to COVID-19: cases or fatalities?", Res. Int. Bus. Finance vol. 54, 101249. 15. Sharif, A., Aloui, C., Yarovaya, L., (2020), "COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: fresh evidence from the wavelet-based approach", Int. Rev. Financ. Anal. vol. 70, 101496. 16. Anna-Louise Jackson, Benjamin Curry 2020 Stock Market in Review: A Year That Defied Expectations // Forbes. - 2021 // https://www.forbes.com/advisor/investing/stock-market-year-in-review-2020/ 17. A full ranking of the top market research and data analytics companies in the U.S. for 2020 // https://www.ama.org/marketing-news/2020-top-50/ 18. Top Analytical Services & Data Analysis Companies // https://www.greenbook.org/market-research-firms/data-analysis 19. Kimberly Amadeo. 2020 Stock Market Crash: Facts, Causes, Effects // https://www.thebalancemoney.com/fundamentals-of-the-2020-market-crash-4799950 20. Fama, Eugene F.; French, Kenneth R. (1993). "Common risk factors in stock and bond yields". // Journal of Financial Economics. 33 (1): 3–56. CiteSeerX 10.1.1.139.5892. doi:10.1016/0304-405X(93)90023-5. 21. Interview with Robert Shiller (pp. 281-316) and interview with James Tobin and Robert Shiller: "The influence of Covid-19 in macroeconomics — in the book: What economists think. Conversations with Nobel Laureates / edited by P. Samuelson and W. Barnett. — Moscow: United Press, 2022. — (ISBN 978-5-9614-0793-8)
Отрывок из работы

A comparative analysis of the two indices in the Russian Federation and the USA reflects almost the same dynamics of the indicator's behavior from 2019 to 2020. It is worth paying attention to the time interval from January to May 2020, when the drop in indices was observed both in Russia and in the USA. Based on the general situation of the economies of the two countries, it can be concluded that developing and developed markets have the same reaction to the emergence of a crisis due to the outbreak of a pandemic. But it should be said about the peculiarities of the reaction of the Russian index, which has been characterized by higher fluctuations since the beginning of 2019, when the American market has a more smoothed picture, with the exception of a fall in the spring of 2020. Such dynamics may indicate a relative risk for the Russian economy, where the reaction to various macroeconomic factors is at a more significant level in comparison with the US economy, which indicates a lack of market efficiency. Figure 4 shows the synchronicity of the volatility of stock markets in Russia and in the United States in the period 2019 – 2020.
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