Perverse Effects News Today

Jonathan Dingel, Brent Neiman By mid-December 2020, more than 65 million people globally had been infected by COVID-19 and more than 1.5 million had died from it. The human cost of the pandemic is dramatic. Its economic cost is also huge. Global GDP contracted by 10% in the first half of 2020. Over the first half of 2020, major European countries experienced drops in both output and private consumption of up to 20% (OECD 2020). Europe has been hit particularly hard by the two waves of the pande...