The seminar focuses on the economic effects of the Covid-19 pandemic. Comparison with a previous pandemic (Spanish flu) shows that the current one initially had much more pronounced recessive effects, followed (after the availability of the vaccines) by a rapid recovery. The reasons for this trend will be discussed. Using the results of a micro-founded intertemporal model by Eichenbaum et al. (2020), it is shown that the size of the recession depended on lockdown policies, justified by the fact that individual reactions, while going in the right direction, were not optimal (positive externality). Some characteristics of the Italian recession will be also illustrated. Prospects and problems of the current recovery will be discussed in light of the current dynamics of the pandemic.
30 novembre 2021 - Ore 12:00-13:30 - aula T01 - Giorgio Rodano
Open to all curricula