Abstract
We consider some descriptive analysis of the main short- and medium-term economic
indicators in Italy in the aftermath of the Spanish Flu pandemic. We analyse
them in the light of the main neoclassical macroeconomic models of pandemics.
Since most of the existing economic models about the consequences of a pandemic
deal the pandemic event merely as a negative labour supply shock, we observe that
some predictions of the theory about the economic impact of a pandemic seem not
to be confirmed in the case of the Spanish Flu in Italy. In particular, economic indicators
in Italy in the upsurge of the Spanish Flu need to be explained also in light of
the consequences of the First World War. We use this evidence to discuss the predictions
on the effects of the Covid-19 pandemic. We stress the importance of putting
the analysis of the economic consequences of the current pandemic into the appropriate
historical context.
Lingua originale | English |
---|---|
pagine (da-a) | N/A-N/A |
Rivista | Economia e Politica Industriale |
Stato di pubblicazione | Pubblicato - 2021 |
Keywords
- Italy
- Pandemic
- Spanish Flu