The spine of the letter represents the fall in activity at the start of the pandemic. Then there is a split, which leads to the two ‘arms’ that capture the different directions taken by economic activity in different sectors.
By:
Maria Demertzis
Date: March 2, 2021
Topic: European Macroeconomics & Governance
This opinion piece was originally published in the Money Review Section of Kathimerini and is forthcoming in El Economista.
The shape of the post-pandemic economic recovery has gone through many letter characterisations, from V to W, to land more or less on the letter K. The spine of the letter represents the fall in activity at the start of the pandemic. Then there is a split, which leads to the two ‘arms’ that capture the different directions taken by economic activity
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