The economic reaction to non-pharmaceutical interventions during Covid-19Agustí Segarra-Blasco, Mercedes Teruel and Sebastiano Cattaruzzo Economic Analysis and Policy, 2021, vol. 72, issue C, 592-608 Abstract: Policy makers have implemented a set of non-pharmaceutical interventions (NPIs) to contain the spread of Covid-19 and reduce the burden on health systems. These restrictive measures have had adverse effects on economic activity; however, these negative impacts differ with respect to each country. Based on daily data, this article studies governmental economic responses to the application of NPIs for 59 countries. Furthermore, we assess if these economic responses differ according to the economic and sectoral context of the countries. By applying a counting model to the economic support intensity, our results quantify the average reaction of governments in counterbalancing the imposition of NPIs. We further re-estimate the base model by dividing the countries according to their GDP per capita, the intensity of their service sectors, and the expenditure by tourists. Our results show how each NPI implied a different level of economic support and how the structural characteristics considered were relevant to the decision-making process. Keywords: Covid-19; Economic policies; Non-pharmaceutical interventions; Daily time data (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:72:y:2021:i:c:p:592-608 DOI: 10.1016/j.eap.2021.10.006 Access Statistics for this article Economic Analysis and Policy is currently edited by Clevo Wilson More articles in Economic Analysis and Policy from Elsevier |
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