Classic textbooks teach us that economic shocks typically hit either the demand or the supply sides of the economy. They usually stem from domestic developments, but sometimes they emerge from abroad. COVID-19, the disease caused by the novel coronavirus, has defied this logic and has done so in new ways. For example, one of its distinctive features — one that has been particularly excruciating...
Central Eastern Europe (CEE) has been hit by the novel coronavirus — which causes a disease called COVID-19 — at a time when upgrades to its industry are overdue, the cost of labor has gone up, the tailwinds from EU funding are about to wane, and the region is in desperate need for a...
Last week, I looked at some real economy and financial channels that the coronavirus pandemic has disrupted across the world. A global recession is now a foregone conclusion, and it will have emanated from the harsh impact on the economy. On the one hand is the supply side, with production...
*Author’s note: This article was written on March 13, 2020. Some issues and data may have changed since then. I am writing this column in a state of a latent denial. Having worked from home for much of the past week, I’ve been trying to juggle work duties with kid’s...
