The Long Covid Economy: Will the pandemic permanently change our society and investments?
Many Happy Returns
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The Scarring Effect in the Housing Market
The energy spike initially, that's what created inflation. The OBR in the UK is assuming a scarring effect of around 3% in their central forecast. That was a shortfall of potential output relative to the pre-pandemic trajectory at the five year forecast horizon. And they simultaneously have a tight labor market because what we have seen is scarring.
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