Can we rank countries’ performance after the Great Lockdown?

While the exit from lockdown is getting underway in the western world, it appears that not all countries suffered to the same degree during the two months when the economy was in hibernation. The decline in activity was less marked in the US, the UK and Germany than in France and southern Europe. However, this hierarchy is fragile. It reflects the severity of the lockdown, much more than the strengths and weaknesses of each economy. Since the shock is unprecedented in magnitude, ...