- The COVID-19 pandemic threatens education progress worldwide through two major shocks:
1. The near-universal closing of schools at all levels and
2. The economic recession sparked by pandemic-control
- Without major efforts to counter their impacts, the school-closings shock will lead to learning loss, increased dropouts, and higher inequality, and the economic shock will exacerbate the damage, by depressing education demand and supply as it harms households. Together, they will inflict long-run costs on human capital and welfare.