Slow-Healing Scars: The Pandemics Legacy
from the International Monetary Fund
– this post authored by Sonali Das and Philippe Wingender
Recessions wreak havoc and the damage is often long-lived. Businesses shut down, investment spending is cut, and people out of work can lose skills and motivation as the months stretch on. But the recession brought on by the COVID-19 pandemic is no ordinary recession. Compared to previous global crises, the contraction was sudden and deep – using quarterly data, global output declined about three times as much as in the global financial crisis, in half the time.
Source: http://econintersect.com/pages/contributors/contributor.php?post=202104080522
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