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2. Awaiting A Post-Coronavirus Dawn: What Kind of Recovery?
- Author:
- Barry Eichengreen
- Publication Date:
- 04-2020
- Content Type:
- Special Report
- Institution:
- Al Jazeera Center for Studies
- Abstract:
- What kind of economic recovery from the Covid-19 crisis should we expect? Attempts to answer this question must start by acknowledging an unusually high degree of uncertainty about the immediate future. There is uncertainty about the recurrence of the virus, about how policy makers will balance public health and economic goals, and about the ability of governments to ramp up their capacity to test, trace and isolate the infected, thereby making it safe for others to return to work. Further sources of uncertainty include the behavioral responses of households and investors, the sustainability of the extraordinary monetary and fiscal policies adopted in response to the crisis, and the extent to which economic organization will change in the new public-health environment. These aspects of the current crisis and their contrasts with crises past suggest that recovery from the Covid-19 crisis will be bumpy, subdued and above all uncertain, and that it will differ in Europe and the United States.
- Topic:
- Crisis Management, Coronavirus, and COVID-19
- Political Geography:
- Europe, Global Focus, and United States of America