Descripción

The Covid-19 (CV19) pandemic created an unprecedented economic crisis. From a theoretical point of view, this crisis is very different from past recessions in both advanced or emerging economies, which had at their root a large increase in leverage (a boom) that eventually became unsustainable (a bust). Policies aimed at managing this process tend to require a careful deleveraging of the economy, while providing support for aggregate demand. The CV19 crisis differs from this process in several aspects that are worth examining