There's one truth insurance and finance professionals know about economic health: It is rarely stagnant. But the question lingering during the COVID-19 pandemic is whether its initial effects will become long term?

The U.S. has experienced shocks to the economy before, and a recent analysis by Morningstar, "What History Can Teach Us About the Post-COVID Economy," looks at how those events can help foretell what's possible to come post-COVID-19.

To determine the likelihood of permanent shifts in long-term behavior after the current pandemic, Morningstar equity analyst and study author Preston Calwell used three factors — habits, fear and sunk cost — to study five previous global shocks.

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