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COVID-19 and the Economy

Yale Professors Discuss COVID-19 and the Economy

Andrew Metrick, the Janet L. Yellen Professor of Finance and Management and the director of the Yale Program on Financial Stability (YPFS), and Robert Shiller, the Sterling Professor of Economics and professor of finance, on an episode of the Yale Talk podcast on the COVID-19 pandemic.

Metrick’s team at YPFS has spent years gathering information about the response to the 2007–2008 financial crisis and is now tracking the response to COVID-19. He said policymakers are making good use of historical lessons. “In the earliest stages of this crisis, there was a really strong reaction from central banks around the world, most notably the Federal Reserve in the United States.”

While Shiller, on the other hand, discussed how shared narratives affect economic behavior and described the narratives that formed around the Spanish flu pandemic of 1918-19, the depression of 1920-21, and the Great Depression.

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