The COVID-19 pandemic caused a shock to both demand and supply, leading to the biggest collapse in world output since the Great Depression. Since late 2020, a more rapid than expected recovery has been observed. Five questions arise frequently. Here is my take on those questions.
1- Is the pandemic receding?
No, but we have a vaccine to control it, and are better at managing it with selective measures, as distinct from total lockdowns, which kill the economy. The global number of ...