Journal ArticleDOI
Pandemics Depress the Economy, Public Health Interventions Do Not: Evidence from the 1918 Flu
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This article used variation in the timing and intensity of non-pharmaceutical interventions (NPIs) across U.S. cities during the 1918 flu pandemic to examine their economic impact.Abstract:
Do non-pharmaceutical interventions (NPIs) aimed at reducing mortality during a pandemic necessarily have adverse economic effects? We use variation in the timing and intensity of NPIs across U.S. cities during the 1918 Flu Pandemic to examine their economic impact. While the pandemic itself was associated with economic disruptions in the short run, we find these disruptions were similar across cities with strict and lenient NPIs. In the medium run, we find suggestive evidence that, if anything, NPIs are associated with better economic outcomes. Our findings indicate that NPIs can reduce disease transmission without necessarily further depressing economic activity.read more
Citations
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Journal ArticleDOI
COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach
TL;DR: In this article, the authors analyzed the connectedness between the recent spread of COVID-19, oil price volatility shock, the stock market, geopolitical risk and economic policy uncertainty in the US within a time-frequency framework.
Journal ArticleDOI
Physical distancing interventions and incidence of coronavirus disease 2019: natural experiment in 149 countries.
Nazrul Islam,Stephen J. Sharp,Gerardo Chowell,Sharmin Shabnam,Ichiro Kawachi,Ben Lacey,Joseph M. Massaro,Ralph B. D'Agostino,Martin White +8 more
TL;DR: Physical distancing interventions were associated with reductions in the incidence of covid-19 globally and might support policy decisions as countries prepare to impose or lift physical distancing measures in current or future epidemic waves.
Journal ArticleDOI
If the world fails to protect the economy, COVID-19 will damage health not just now but also in the future.
Martin McKee,David Stuckler +1 more
TL;DR: The world is entering uncharted territory in the COVID-19 pandemic, and the world’s leaders must prepare to preserve health.
Journal ArticleDOI
Economic impact of government interventions during the COVID-19 pandemic: International evidence from financial markets
TL;DR: In this article, the authors examined the expected economic impact of government actions by analyzing the effect of such actions on stock market returns using daily data from January 22 to April 17, 2020 from 77 countries.
Journal ArticleDOI
COVID-19 Pandemic, Oil Prices, Stock Market, Geopolitical Risk and Policy Uncertainty Nexus in the US Economy: Fresh Evidence from the Wavelet-Based Approach
TL;DR: In this article, the authors analyzed the connectedness between the recent spread of COVID-19, oil price volatility shock, the stock market, geopolitical risk and economic policy uncertainty in the US within a time-frequency framework.
References
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Journal ArticleDOI
Updating the Accounts: Global Mortality of the 1918-1920 "Spanish" Influenza Pandemic
Niall Johnson,Juergen Mueller +1 more
TL;DR: The estimated global mortality of the pandemic was of the order of 50 million, and it must be acknowledged that even this vast figure may be substantially lower than the real toll, perhaps as much as 100 percent understated.
Journal ArticleDOI
Private and Public Supply of Liquidity
Bengt Holmstrom,Jean Tirole +1 more
TL;DR: In this paper, the authors address the question: Do claims on private assets provide sufficient liquidity for an efficient functioning of the productive sector? Or does the state have a role in creating liquidity and regulating it either through adjustments in the stock of government securities or by other means?
Journal ArticleDOI
Is the 1918 Influenza Pandemic Over? Long‐Term Effects of In Utero Influenza Exposure in the Post‐1940 U.S. Population
TL;DR: The 1918 influenza pandemic is used as a natural experiment to test the fetal origins hypothesis and indicates that investments in fetal health can increase human capital.
Posted Content
Private and Public Supply of Liquidity
Bengt Holmstrom,Jean Tirole +1 more
TL;DR: In this article, the authors address a basic, yet unresolved question: Do claims on private assets provide sufficient liquidity for an efficient functioning of the productive sector? Or does the State have a role in creating liquidity and regulating it either through adjustments in the stock of government securities or by other means?
ReportDOI
The Macroeconomics of Epidemics
TL;DR: In this article, the authors extend the canonical epidemiology model to study the interaction between economic decisions and epidemics, and they show that people's decision to cut back on consumption and work reduces the severity of the epidemic, as measured by total deaths.
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