Last spring, the COVID-19 pandemic led to an unprecedented shutdown of the global economy. Governments (mostly in advanced economies) responded with an array of programs, including increased unemployment benefits, stimulus payments, small business assistance loans, and broad monetary support. In spite of these unprecedented interventions, all financed by a rapid expansion of public debt, the economic outlook continues to be very uncertain 10 months into the pandemic.
What are the likely near- and long-term consequences of the pandemic for the global economy? Which populations have been most affected? Which industries are likely to recover, and which will not? How should we evaluate the success of economic measures taken by governments in the U.S. and around the world?
Co-sponsored by the Clausen Center for International Business and Policy — and presented as part of the Berkeley Haas “New Thinking in a Pandemic” series — this “Matrix on Point” brought together a panel of scholars to discuss the economic consequences of the COVID-19 pandemic.