Assessing the Economic Effects of Lockdowns in Italy: A Dynamic Input-Output Approach

Reissl, Severin; Caiani, Alessandro; Lamperti, Francesco; Guerini, Marco; Vanni, Fabio; Fagiolo, Giorgio; Ferraresi, Tommaso; Ghezzi, Leonardo; Napoletano, Mauro; Roventini, Andrea

doi:10.2139/ssrn.3778996

Cited by 13 publications

(15 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…applied the multilayer artificial neural network forecaster in the study of COVID-19 impact on the GDP of major economies. The study confirms a negative reaction of the GDP to COVID-19 cases in all the selected economies Reissl et al (2021). equally assessed the economic implications of the COVID-19 and lockdown measures in Italy using a dynamic input-output measure.…”

supporting

confidence: 55%

Food and healthcare accessibility during COVID-19 pandemic

Uche¹,

Nnamdi²,

Effiom³

et al. 2021

Heliyon

View full text Add to dashboard Cite

The pervasive effects of the novel coronavirus (COVID-19) have put the world to test. Its effects permeate all facets of life including healthcare services and food supplies. However, most empirical studies failed to investigate its effects on the prices of food and healthcare services, which by all standards, are essential commodities. On this background, this study evaluates the impact of COVID-19 reported cases and lockdown stringency measures on the food and healthcare prices in the six (6) worst-affected countries. For empirical purposes, daily prices of food and healthcare services between 22 nd January and 31 st December 2020 were regressed against daily cases of COVID-19 and lockdown stringency measures within the dynamic autoregressive distributed lag procedure. Empirical evidences reveal that prices of healthcare and food are cointegrated with COVID-19 cases and lockdown measures in all the selected countries except Italy. Equally, healthcare and food prices reinforced itself in the long-run in the US, the UK and France. Furthermore, COVID-19 cases lead to significant increases in food and healthcare prices in the US, whereas, food and healthcare prices in France and UK declined significantly as COVID-19 cases mount. Conversely, food and healthcare prices declined significantly in the US and soar in France and the UK in reactions to COVID-19 new cases. Likewise, government stringency measures and containment health measures contributed significantly to healthcare and food price hike in the US and France respectively. Meanwhile, healthcare and food prices in the other selected countries remained unaffected even as the pandemic ravages. Following this empirical discoveries, relevant policy guidelines have been communicated.

show abstract

supporting

confidence: 55%

Food and healthcare accessibility during COVID-19 pandemic

Uche¹,

Nnamdi²,

Effiom³

et al. 2021

Heliyon

View full text Add to dashboard Cite

show abstract

“…The SLD category constitutes those measures whose scope is indicative of closure of public facilities and spaces and prohibition of public activities. This definition is similar to the soft lockdown phase described in [20] and akin to soft scenarios introduced in [21] and mild lockdown in [22]. In addition to all measures under the WFH and SLD categories, the FLD category refers to severe restrictions to movement, physical contact, and halting of production in industries.…”

Section: Definition Of Restriction Categoriesmentioning

confidence: 99%

“…In addition to all measures under the WFH and SLD categories, the FLD category refers to severe restrictions to movement, physical contact, and halting of production in industries. The FLD category, also connoted as hard lockdown in [20,22], reflects the minimum operating state of the economy where only critical industries and businesses are operational while all non-essential businesses are closed. The restrictions in these categories, as well as their relation, are classified in Figure 1.…”

Section: Definition Of Restriction Categoriesmentioning

confidence: 99%

Impact of COVID-19 on Electricity Demand: Deriving Minimum States of System Health for Studies on Resilience

Manjunath

Yeligeti

Fyta

et al. 2021

Data

View full text Add to dashboard Cite

To assess the resilience of energy systems, i.e., the ability to recover after an unexpected shock, the system’s minimum state of service is a key input. Quantitative descriptions of such states are inherently elusive. The measures adopted by governments to contain COVID-19 have provided empirical data, which may serve as a proxy for such states of minimum service. Here, we systematize the impact of the adopted COVID-19 measures on the electricity demand. We classify the measures into three phases of increasing stringency, ranging from working from home to soft and full lockdowns, for four major electricity consuming countries of Europe. We use readily accessible data from the European Network of Transmission System Operators for Electricity as a basis. For each country and phase, we derive representative daily load profiles with hourly resolution obtained by k-medoids clustering. The analysis could unravel the influence of the different measures to the energy consumption and the differences among the four countries. It is observed that the daily peak load is considerably flattened and the total electricity consumption decreases by up to 30% under the circumstances brought about by the COVID-19 restrictions. These demand profiles are useful for the energy planning community, especially when designing future electricity systems with a focus on system resilience and a more digitalised society in terms of working from home.

show abstract

“…Finally, our work is also related to the strand of the fast-growing literature studying how the disruptions to GVCs generated by lockdown policies and social distancing measures following the COVID-19 pandemic have affected the economy of selected countries and international trade. Specifically, close to our paper are those building on an input-output and GVCs framework (Bonadio et al, 2020;Guan et al, 2020;Mandel and Veetil, 2020;Pichler et al, 2020;Reissl et al, 2021) and, especially, the studies adopting the hypothetical extraction method (Giammetti et al, 2020a;Haddad et al, 2020;Bonet-Morón et al, 2020;Sanguinet et al, 2021). Despite some common features, our paper distinguishes from the contributions in this literature along many dimensions, such as the multi-regional approach, the specific focus on deglobalisation and, more importantly, the counterfactual assessment of the costs and benefits of GVCs reconfigurations.…”

mentioning

confidence: 95%

The Network Effect of Deglobalisation on European Regions

et al. 2021

View full text Add to dashboard Cite

This paper investigates the effects of a retreat from global economic integration on the European regional production network for the period 2000-2010. We find that production has become increasingly fragmented, although the degree of heterogeneity across regions is substantial. This heterogeneity is also present in the direct and indirect effects of three different deglobalisation scenarios that we simulate. Our results show that deglobalisation generates winners and losers. Specifically, two groups of regions emerge; regions that would benefit from a return to a less integrated world, and regions that would instead gain from a strengthening of the European production network.

show abstract

Assessing the Economic Effects of Lockdowns in Italy: A Dynamic Input-Output Approach

Cited by 13 publications

References 0 publications

Food and healthcare accessibility during COVID-19 pandemic

Food and healthcare accessibility during COVID-19 pandemic

Impact of COVID-19 on Electricity Demand: Deriving Minimum States of System Health for Studies on Resilience

The Network Effect of Deglobalisation on European Regions

Contact Info

Product

Resources

About