March 4, 2021
Covid-19 warranted extensive rethinking by households, businesses, and governments on how to effectively conduct and manage their activities in the wake of the deadly virus. Disruptions stemming from the pandemic led to the sudden collapse of certain sectors, e.g. travel, hospitality and entertainment, while others endured rapid structural transformations,
e.g. in retailing where online activity advanced at a much faster pace than it was prior to the pandemic. The abrupt nature of these shifts meant that economic agents suffered detrimental effects owing to a lack of preparation.
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