Covid-19 macro effects could last 40 years – research
Research from University of California says natural rate could take decades to return to normal
Pandemics result in “significant macroeconomic” after-effects that could persist for 40 years, according to a new paper from the University of California.
Authors Oscar Jorda, Sanjay Singh and Alan Taylor study the rate of return on assets focusing on 12 major pandemics in which more than 100,000 people died. As a comparison they also study major wars resulting in the same death toll.
“Following a pandemic, the natural rate of interest declines for decades thereafter, reaching its nadir about
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