Economic Effects of Covid-19 and Non-Pharmaceutical Interventions: applying a SEIRD-RBC 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-RBC model, where the outbreak and policy interventions shape the labor input dynamic. We microfoundan Epidemic-Macro model grounded on the RBC 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: Covid-19 pandemic; SIR-Macro model (search for similar items in EconPapers)
JEL-codes: E23 E32 I18 (search for similar items in EconPapers)
Date: 2022-07-28
New Economics Papers: this item is included in nep-dge and nep-eec
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