Please use this identifier to cite or link to this item: https://ruomo.lib.uom.gr/handle/7000/1779
Title: THE LONG RECESSION AND ECONOMIC CONSEQUENCES OF THE COVID-19 PANDEMIC
Authors: Tsoulfidis, Lefteris
Tsaliki, Persefoni
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Economics
Keywords: Long recession
secular stagnation
pandemic
long cycles
, institutional changes
disruptive innovations
Issue Date: 2022
Publisher: Universidad Nacional Autónoma de México, Facultad de Economía
Source: Investigación Económica
Volume: 81
Issue: 321
First Page: 3
Last Page: 29
Abstract: In this article, we argue the rate of profit in combination with the movement of the real net profits determines the phase-change of the economy in its long cyclical pattern. Since WWII, the US and the world economy have experienced two such long cycles. The pandemic COVID-19 has deepened a recession that has been already underway since 2007. The growth rates in the first post-pandemic years are expected to be high; however, soon after, the economies will find themselves back to their old recessionary growth paths. The onset of a new long cycle requires the restoration of profitability, which can be sustained only through the introduction of ‘disruptive’ innovations backed by suitable institutional arrangements.
URI: https://doi.org/10.22201/fe.01851667p.2022.321.81476
https://ruomo.lib.uom.gr/handle/7000/1779
ISSN: 0185-1667
Other Identifiers: 10.22201/fe.01851667p.2022.321.81476
Appears in Collections:Department of Economics



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