The fiscal response to the Italian COVID-19 crisis: A counterfactual analysis

被引：3
|
作者：
Di Bartolomeo, Giovanni [1 ,2 ]
D'Imperio, Paolo [3 ]
Felici, Francesco [4 ]
机构：
[1] Sapienza Univ Rome, Dept Econ & Law, Rome, Italy
[2] Univ Antwerp, Dept Econ, Antwerp, Belgium
[3] Minist Econ & Finance, Treasury Dept, Rome, Italy
[4] Minist Tourism, Rome, Italy
来源：
JOURNAL OF MACROECONOMICS | 2022年 / 73卷
关键词：
COVID-19; Coronavirus; Macroeconomic impact; Fiscal policies; Lockdowns; Fiscal-policy-study case; MODEL;
D O I：
10.1016/j.jmacro.2022.103447
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The COVID-19 pandemic is an unprecedented worldwide event with a massive impact on the economic system. The first Western country that had to face the COVID-19 crisis was Italy, which therefore represents a natural "case study." By using the micro-data and granular policy information available at the Italian Ministry of Economy and Finance, this paper provides a macroeconomic quantitative assessment of the initial emergency fiscal measures introduced in 2020 and an analysis of the impact of the COVID-19 shock during the lockdown. We find that emergency measures avoided an additional fall of GDP of about 4.4% in 2020. The impact of public interventions on the dynamics of investments is particularly significant.
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收藏
页数：19
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