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Will COVID-19 Leave Lasting Economic Scars?, No. 20-07

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Will COVID-19 Leave Lasting Economic Scars?, No. 20-07

DATE: June 2020

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ABSTRACT: Researchers and policymakers are wondering whether the economic losses associated with the COVID-19 pandemic will prove temporary or persistent. Examining the housing crisis of 2006–09 may provide some clues. Despite the fact that the housing crisis represented a temporary demand-side shock, it had lasting negative effects on employment and GDP in regions most exposed to the boom and bust in house prices.


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Sablik, Timothy , Schwartzman, Felipe Farah, 1981- and Federal Reserve Bank of Richmond. "Will COVID-19 Leave Lasting Economic Scars?, No. 20-07," Economic Brief (June 2020). https://fraser.stlouisfed.org/title/6034/item/589681, accessed on May 19, 2022.

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