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.

引用

页数：19

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