The Post-COVID-19 Recovery: Three Scenarios
The Post-COVID-19 Recovery: Three ScenariosWhat will the recovery from the slump driven by COVID-19 look like? There are arguments for at least three different paths. We can call them: V, U, and L shaped. (A fourth, W-shaped, recovery can be seen as simply a variant of either V or U.) In each case, the letter describes (i) the path the overall economy is expected to take; and, (ii) importantly, defines the time frame of the recovery. Recovery can be best understood as getting back to and exceeding the previous levels of GDP. It does not necessarily mean back to the pre-COVID-19 growth path.
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