This memo reviews the academic literature on the effectiveness of non-pharmaceutical interventions in mitigating the spread of COVID-19. Only empirical studies are included. Interventions generally reduce COVID-19 spread but the literature is less conclusive for some interventions than others. Intervention timing and local characteristics are determinants of effectiveness.

This memo documents a nowcasting model for Danish GDP used during the economic crisis related to the outbreak of COVID-19. During this crisis, the model provided timely and more accurate nowcasts than a simple model. To improve the timeliness of nowcasts we make use of new high-frequency indicators.

Households' savings increased significantly during the first wave of the corona pandemic in Denmark and several other countries. This Economic Memo finds that the higher savings in Denmark were driven by restrictions rather than precautionary consumers. Precautionary savings have so far been relatively limited and smaller than during the financial crisis. (Memo available in Danish only).

The memo summarizes the design and use of the IMF's precautionary facilities since their introduction and discusses lessons and potential reform options. In particular, the framework for these facilities should be adjusted to address prolonged use at high access levels.

This memo discusses effects of COVID-19 on interest rates through the lens of global movements in the natural real interest rate. While government spending and public debt issuance are likely to cause a rise in r*, r* may decline due to precautionary behaviour. The net effect is uncertain.

The Danish labour market experienced a historically severe setback after the partial shutdown of the economy but is now recovering. This Economic Memo gives a detailed account of the developments on the Danish labour market over the past six months and serves as the foundation for Danmarks Nationalbank’s Outlook for the Danish economy, September 2020. (Memo available in Danish only).