What Happened to the U.S. Economy during the 1918 Influenza Pandemic? A View Through High-Frequency Data

Autor:	François R. Velde
Rok vydání:	2022
Předmět:	Economics and Econometrics History Economics Econometrics and Finance (miscellaneous)
Zdroj:	The Journal of Economic History. 82:284-326
ISSN:	1471-6372 0022-0507
DOI:	10.1017/s0022050722000055
Popis:	An economic downturn coincided with the start of the epidemic but the recession was short and moderate, compared with that of 1920/21. Cross-sectional high-frequency data indicate that the epidemic affected the labor supply sharply but briefly with no ensuing spill-overs; most of the recession, brief as it was, was due to the end of the war. I analyze weekly city-level mortality data and economic indicators with time series methods and structural estimation of an economic-epidemiological model: interventions to hinder the contagion reduced mortality at little economic cost, probably because reduced infections mitigated the impact on the labor force.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::57f95c1a2be787d80b0b540a3623793c https://doi.org/10.1017/s0022050722000055 Zobrazit plný text záznamu