9 Displaced workers aged 65 and over had markedly lower reemployment rates and markedly higher rates of labor force exit than did similarly aged displaced workers in the years just before the pandemic. See Bureau of Labor Statistics (2022). -7prices in the first two years of the pandemic contributed to an increase in wealth that likely facilitated early retirement for some people.
We see this danger in the Contingent Credit Line program being devised at the IMF, where countries which receive a prior “seal of approval” will be able to draw on Fund support more or less automatically in time of need.