Economic Effects of Covid-19 and Non-Pharmaceutical Interventions: applying a SEIRD-Macro Model to Italy

Francesco Giuli and Gabriele Maugeri

MPRA Paper from University Library of Munich, Germany

Abstract: We study the economic effects generated by the proliferation of the Covid-19 epidemic and the implementation of non-pharmaceutical interventions by developing a SEIRD-Macro model, where the outbreak and policy interventions shape the labour input dynamic. We microfound an Epidemic-Macro model grounded on the Neo-Classical tradition, useful for epidemic and economic analysis at business cycle frequency, which is able to reproduce the highly debated health-output trade-off. Assuming a positive approach, we show the potential of our model by matching the epidemic and macroeconomic empirical evidence of the Italian case.

Keywords: SIR-Macro models; Covid-19; Non-pharmaceutical interventions. (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Date: 2023-01-29
New Economics Papers: this item is included in nep-hea
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