The large fall in global output and massive job losses during the current pandemic is creating a socio-economic upheaval that is likely to persist over time. From previous crises, we know that some of their effects are likely to leave permanent scars through what is known as hysteresis. This article discusses how the concept of scarring or hysteresis is relevant for the current pandemic-induced economic crisis. We discuss channels through which these effects can become persistent and how fiscal and monetary policies can minimize their consequences and work to create a global economy that is more resilient, more equal and greener.t

中文翻译：

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对抗 COVID-19 的疤痕效应

当前大流行期间全球产出的大幅下降和大量失业正在造成社会经济动荡，这种动荡可能会随着时间的推移而持续下去。从之前的危机中，我们知道它们的某些影响可能会通过所谓的滞后效应留下永久性的伤疤。本文讨论了疤痕或滞后的概念如何与当前由大流行引起的经济危机相关。我们讨论了这些影响持续存在的渠道，以及财政和货币政策如何将其后果降至最低，并努力创造一个更具弹性、更平等和更环保的全球经济。t