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How deep will downturns in rich countries be?

By April 16, 2020No Comments
The Economist | April 16, 2020

Those in central and southern Europe seem most vulnerable

As the virus upends productive activity across the world, the question now is how bad things will get. On April 14th the IMF warned that the global recession would be the deepest for the best part of a century. But the severity of the pandemic and the uncertainty around the duration of lockdowns are such that economists’ models, trained on business cycles in the post-war era, are of little use.

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