Business Daily
Do we have the right data on coronavirus?
Mar 23, 2020
Epidemiology professor Ioannidis and Nobel Prize winner Levitt discuss the lack of data on coronavirus. Economist Pryce joins to explore economic responses to the crisis. Insights on challenges in obtaining accurate data and potential immunity dynamics among the elderly.
17:56
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Quick takeaways
- Lack of precise COVID-19 data hampers decision-making and policy responses.
- COVID-19 crisis necessitates unprecedented economic responses to mitigate long-term impacts on global economy.
Deep dives
Impact of COVID-19 on Economy
The current COVID-19 crisis is causing significant economic downturns, with projections of sharp contractions in GDP. Experts predict alarming figures, such as a potential 24% decline in the second quarter in the US. The uncertainty lies in the duration of the crisis and the effectiveness of current measures. The profound impact on businesses, employment, and sectors hit hard by the pandemic necessitates substantial support from banks and governments.
