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Abstract

Irrespective of the health issues, the coronavirus pandemic that we are currently experiencing demonstrates that rapid and radical responses of governments and business, as well as rapid lifestyle changes, are possible. Suddenly, we’ve found we are able to adjust personal habits and routines (e.g. not shaking hands), change travel plans (e.g. give up on holidays abroad), and adjust business practices (e.g. move meetings online, allow working from home). Have these actions affected GDP growth and generated economic costs? Yes, of course! Is it a problem? There are concerns, but the majority of citizens and media perceives such changes as necessary, and even desired, in order to reduce the risks.