COVID-19

The COVID-19 recession could be far worse than 2008 - here’s why

coronavirus fears pandemic health economic finance recession global fiscal monetary policy employment interest rates market private public sector companies work career

The key questions now are how bad the recession will be and how long it will last. Image: Unsplash/rupixen.com

Kenneth Rogoff
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The initial drops in the stock exchanges of major countries (up to one-fourth of their valuation) are hitherto analogous between both crises. Chart 2 shows the S&P index over fifty days after the historical peak of February 19, 2020 and the day after the bankruptcy of Lehman Brothers, respectively.
A comparison of the initial stock exchange drops after February 19th, 2020 and the bankruptcy of Lehman Brothers in 2008. Image: Atlantic Council
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COVID-19Global RisksEconomic ProgressGlobal Health
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