The Great Recession and COVID-19 recession inflation experience
Assignment
Address the effects of COVID-19 on the economy, and the experience of the recent Great Recession as well as to the Great Depression for insights.
In a blog in the spring of 2021 (link below), Gita Gopinath, then chief economist at the International Monetary Fund (IMF), drew several comparisons.
A difference between the Great Recession and COVID-19 recession is the development of inflation. In this writing assignment of 500 words, we would like you to discuss the different inflation experiences between the two recessions.
In your essay use the following four sources, where the first source is a more general comparison and the other three are focused on inflation. Make sure to discuss whether current inflation is a result of government policies or something else. You don’t have to, but if you use sources in addition to these four, make sure to cite using the (author, year) method and mention them in a literature list at the end.
https://blogs.imf.org/2020/04/14/the-great-lockdown-worst-economic- downturn-since-the-great-depression/
https://blogs.imf.org/2021/12/03/addressing-inflation-pressures-amid-an- enduring-pandemic/
https://blogs.imf.org/2021/10/06/inflation-scares-in-an-uncharted- recovery/
https://www.nytimes.com/2022/01/04/opinion/inflation-federal- reserve.html
