Can the coronavirus recession be rapidly reversed?

In recent decades, post-recessions recoveries in Europe and the US have often been deemed slow, fragile, jobless, to the extent that in the wake of the global financial crisis after 2009 some rekindled the old secular stagnation theory. The recession triggered by the pandemic looks like it may be more easily reversed than previous shocks. First, it is a recession without prior macro imbalances. Second, economic policy has durably moved away from classical orthodoxy, contributing ...