Taking Stock: The Aggregate Effects of the Spanish Flu

Sergi Basco, Jordi Domenech and Joan Rosés

Chapter Chapter 6 in Pandemics, Economics and Inequality, 2022, pp 83-103 from Palgrave Macmillan

Abstract: Abstract Do pandemics affect the aggregate production of the economy? If this is the case, are the effects long-lived? To consider these two questions, we propose a framework to understand the effects of pandemics on short- and long-run aggregate output. We review the diverse economic consequences of pre-world pandemics (including the Black Death) and the Spanish Flu. Finally, we explain how the Spanish Flu can help us consider the potential unequal economic effects of Covid-19.

Keywords: AS-AD model; Aggregate output; Persistence; Pandemics; Covid-19 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palscp:978-3-031-05668-0_6

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DOI: 10.1007/978-3-031-05668-0_6

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