To each crisis its analogy, to each analogy its critical reflection
(WorldNews Sweden)

Robert Holzmann Governor Oesterreichische Nationalbank SPEECH Berlin, September 11, 2020 Check against delivery! To each crisis its analogy, to each analogy its critical reflection Opening remarks Konrad-Adenauer-Haus Ladies and gentlemen, Throughout history, crises have been archetypal examples of moments when the power of analogy overrides, at least temporarily, the inductive and deductive components of economic policy decisions.1 The COVID-19 crisis, which has been severely affecting the global economy since spring 2020, is no exception to this rule. The devastating human consequences of the Spanish flu of 1918 led us to conclude that there need not be a trade-off between keeping...