Author, as appears in the article.: Segarra-Blasco A; Teruel M; Cattaruzzo S

Department: Economia

URV's Author/s: Cattaruzzo, Sebastiano / Teruel Carrizosa, Mercedes

Keywords: Panel-data models Non-pharmaceutical interventions Economic policies Daily time data Covid-19 stock-market policy responses non-pharmaceutical interventions impact economic policies daily time data

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.

Thematic Areas: Economics, econometrics and finance (miscellaneous) Economics and econometrics Economics Ciencias sociales

licence for use: https://creativecommons.org/licenses/by/3.0/es/

Author's mail: mercedes.teruel@urv.cat

Author identifier: 0000-0002-4104-7679

Record's date: 2023-02-19

Papper version: info:eu-repo/semantics/publishedVersion

Link to the original source: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8526112/

Licence document URL: http://repositori.urv.cat/ca/proteccio-de-dades/

Papper original source: Economic Analysis And Policy. 72 592-608

APA: Segarra-Blasco A; Teruel M; Cattaruzzo S (2021). The economic reaction to non-pharmaceutical interventions during Covid-19. Economic Analysis And Policy, 72(), 592-608. DOI: 10.1016/j.eap.2021.10.006

Article's DOI: 10.1016/j.eap.2021.10.006

Entity: Universitat Rovira i Virgili

Journal publication year: 2021

Publication Type: Journal Publications