Research on the Financial Market Reaction under the Extraordinary Public Health Emergencies

Fang Cai, Shuyuan Zhang, J. Guo, Xinyang Zhang
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Abstract

In the case of serious public health emergencies, it is of great significance to fully analyze the reaction of financial market and explain the mechanism behind it, so as to build or improve the relevant feasible emergency management system. In this paper, a variety of analysis methods are used to systematically explain the typical public health emergencies, based on the empirical research on the policies of China, America, Japan and Britain during the epidemic period, this paper explores the internal logic and correlation between different reactions in financial markets from multiple dimensions, and summarizes innovative interpretations of different reactions in financial markets. The results show that under the monetary policy based on ensuring liquidity, combined with effective epidemic prevention and control measures, only in this way can the economic and financial system impacted by the epidemic be saved.
突发公共卫生事件下金融市场反应研究
在发生重大突发公共卫生事件时,充分分析金融市场的反应并解释其背后的机制,对于建立或完善相关可行的应急管理体系具有重要意义。本文运用多种分析方法对典型突发公共卫生事件进行系统解释,在对中国、美国、日本和英国疫情期间的政策进行实证研究的基础上,从多个维度探索金融市场不同反应之间的内在逻辑和相关性,总结出对金融市场不同反应的创新解读。结果表明,在以保障流动性为基础的货币政策下,结合有效的疫情防控措施,才能挽救受疫情冲击的经济金融体系。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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