An ECB analysis was able to detect general scarring effects on the global economy following ﬁnancial crises, but not in the aftermath of exogenous events like epidemics.
The impact of epidemics appears to have vanished two years after they have ended. [13] 3.2 Disruption of education  Yet, the COVID-19 pandemic might differ from previous experience, especially as it has disrupted the education of so many children and young adults.