The Macroeconomic Impact of the 1918–19 Influenza Pandemic in Sweden

Martin Karlsson, Mykhailo Matvieiev and Maksym Obrizan
Additional contact information
Mykhailo Matvieiev: AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique

Post-Print from HAL

Abstract: Abstract In this paper, we develop an overlapping generations model with endogenous fertility and calibrate it to the Swedish historical data in order to estimate the economic cost of the 1918–19 influenza pandemic. The model identifies survivors from younger cohorts as main benefactors of the windfall bequests following the influenza mortality shock. We also show that the general equilibrium effects of the pandemic reveal themselves over the wage channel rather than the interest rate, fertility or labor supply channels. Finally, we demonstrate that the influenza mortality shock becomes persistent, driving the aggregate variables to lower steady states which costs the economy 1.819% of the output loss over the next century.

Keywords: epidemics; overlapping generations models; 1918-19 influenza; endogenous fertility (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Published in B.E. Journal of Macroeconomics, inPress, ⟨10.1515/bejm-2021-0018⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: The Macroeconomic Impact of the 1918–19 Influenza Pandemic in Sweden (2023)
Working Paper: The Macroeconomic Impact of the 1918–19 Influenza Pandemic in Sweden (2020)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03661049

DOI: 10.1515/bejm-2021-0018

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().