The macroeconomic consequences of the Covid-19 pandemic are likely to be very different from those of previous pandemics, largely because of the unprecedented response by governments and central banks. The most important lesson from history is that seismic shocks tend to accelerate changes to economic structures, institutions and behaviours that were already underway. This implies that the current pandemic could leave a legacy that touches on everything from globalisation to the future of work.

Read the publication What can we learn from past pandemics? on the Capital Economics Website.

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