Countermeasures for the COVID-19 Outbreak in Egypt: This Time is Really Different

Source: Economic Research Forum

Author(s): Sarah El Khishin

Original Link:

In their book This Time Is Different, Carmen Reinhart
and Kenneth Rogoff argue that although policy-makers usually believe the opposite, crises in recent history are generally initiated by similar causes – such as investment euphoria, financial innovations and easy monetary policy, as well as overconfidence in the economic outlook – all of which end up in financial deleveraging that is then transferred to the real economy. But an initial assessment of the COVID-19 pandemic and the consequent onset of a global slump show that this time might really be different!

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