Pandemics and Economic Growth: Evidence from the 1968 H3N2 Influenza
Ilan Noy and
No 8672, CESifo Working Paper Series from CESifo
We evaluate the 1968 H3N2 Flu pandemic’s economic cost in a cross-section of 52 countries. Using excess mortality rates as a proxy for the country-specific severity of the pandemic, we find that the average mortality rate (0.0062% per pandemic wave) was associated with declines in consumption (-1.9%), investment (-1.2%), output (-2.4%), and productivity (-1.9%). Our main findings highlight the role of both negative demand-side and supply-side shocks in the flu pandemic’s aftermath.
Keywords: output loss; productivity; pandemics; Hong Kong Flu; H3N2 (search for similar items in EconPapers)
JEL-codes: E65 I15 Q54 (search for similar items in EconPapers)
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Journal Article: Pandemics and Economic Growth: Evidence from the 1968 H3N2 Influenza (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_8672
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