Futurity April 3, 2020
We could suffer the economic effects of the coronavirus pandemic for decades, according to a new study.
The research examines the financial effects of pandemics dating back to the 14th century.
“If the trends play out similarly in the wake of COVID-19—adjusted to the scale of this pandemic—the global economic trajectory will be very different than was expected only a few weeks ago,” researchers write in a new working paper.
Òscar Jordà, Sanjay Singh, and Alan M. Taylor, all professors in the economics department at the University of California, Davis, conclude that the pandemic will likely depress real rates of return, lead to small increases in real wages, and weigh on investment. A real rate of return is an annual...
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