Andrea has recorded a podcast with Find Genius Podcast discussing the connection of today’s situation with the financial crisis of 2007, and distinguishes how we face a whole new set of questions as economics and policy makers under the COVID-19 pandemic.
Andrea points out governments have been extremely aggressive with fiscal policy as determinants of monetary policy didn’t have a lot of room to respond; interest rates were already low and several places didn’t have room to lower them.
He discusses complications of current and future responses, the shocks of supply and demand, and other elements of baseline responses to the economic effects of a second wave of COVID-19. He notes that the quick rebound of the stock market has been a surprise though speaks to a cautious view of the future. He also addresses the ways health policies and political processes effect this future in macroeconomics and to what extent governments should be planning now for long-term objectives.
Listen to Andrea's podcast