OECD (2020), Education and COVID-19: Focusing on the long-term impact of school closures, https://www.oecd.org/coronavirus/policy-responses/education-and-covid-19-focusing-on-thelong-term-impact-of-school-closures-2cea926e/#section-d1e77 12. Woodford, M. (2001), Fiscal Requirements for Price Stability, NBER Working Paper, No 8072. 13. Sargent, T. J. (1986), Interpreting the Reagan Deﬁcits, Federal Reserve Bank of San Francisco, Economic Review, No 4/1986, pp. (pages) 5-12. 14.
World Trade Organization (WTO) estimates suggest that around 20% of global exports of protective clothing and 17% of disinfectant exports were affected. In light of these examples, does the crisis call for a different view on global value chains?