This is Topic about: COVID has had and continues to have a dramatic impact on economies. Select one of the following country pairs and discuss the impact of COVID on GDP, employment, and other measures of economic well-being for each country. Calculate the aggregate economic losses, and estimate prospects for recovery (as of April 2021) Hint. This topic will explore the cumulative effect of the COVID using the following questions:
a. Which of the two countries has experienced the most severe economic costs associated with COVID? Why?
b. Which country appears most likely to recover? Define recovery as restoration to previous growth rates, previous income/wealth levels. Justify your conclusions:
Use OECD data for this exercise (https://stats.oecd.org/# ). You will need information on GDP and employment levels plus the other measure of economic wellbeing you select. Your lit review should discuss the impact of past recessions as well as what makes the experience with COVID. You cannot avoid delving into deaths and other health outcomes as a way of measuring a county’s experience with Covid in addition to the economic impact. Alert: does the measure of unemployment rate remain constant through COVID (go back to the definition).