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THE FED AND THE FLU IBD

DAVID R KOTOK / MICHAEL R ENGLUND / TRISTA
DAVID R. KOTOK
02 / 2025
9798989362509
Inglés

Sinopsis

Over the century that intervened between the 1918 H1N1 Spanish Flu pandemic and the COVID-19 pandemic, the US Federal Reserve has deepened its understanding of the economic shocks that pandemics deliver. In fact, epidemic and pandemic shocks appear to have had similar characteristics as far back as the historical record can offer us clues. Further, human behavior has always been implicated in a pandemicâÇÖs economic outcomes, as surely as pathogens are. The FedâÇÖs actions in response to COVID-19, based in part on its own evolving understanding of what it takes to stabilize an economy and financial system in the face of a pandemic shock, were successful in forestalling an economic and financial collapse when COVID struck.áInáThe Fed and the Flu: Parsing Pandemic Economic Shocks,áDavid Kotok, along with co-authors Michael England, Tristan Erwin, and Elizabeth Sweet, examine the FedâÇÖs journey, insights from history, lessons from the worldâÇÖs experience with COVID, and the pandemicâÇÖs economic impacts captured in charts. Every pandemic delivers an initial shock, but it also casts a longer shadow over the medium term. Most importantly, every pandemic is a learning opportunity that can be leveraged to better inform responses to future pandemics.