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Disentangling Covid-19, economic mobility, and containment policy shocks

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Bibliographic Details
Authors and Corporations: Camehl, Annika (Author), Rieth, Malte (Author)
Other Authors: Rieth, Malte [Author]
Type of Resource: E-Book
Language: English
published:
Berlin DIW Berlin, German Institute for Economic Research 2021
Series: Deutsches Institut f├╝r Wirtschaftsforschung: Discussion papers ; 1954
Subjects:
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: We study the dynamic impact of Covid-19, economic mobility, and containment policy shocks. We use Bayesian panel structural vector autoregressions with daily data for 44 countries, identified through sign and zero restrictions. Incidence and mobility shocks raise cases and deaths significantly for two months. Restrictive policy shocks lower mobility immediately, cases after one week, and deaths after three weeks. Non-pharmaceutical interventions explain half of the variation in mobility, cases, and deaths worldwide. These flattened the pandemic curve, while deepening the global mobility recession. The policy tradeoff is 1 p.p. less mobility per day for 9% fewer deaths after two months.
Physical Description: 1 Online-Ressource (circa 51 Seiten); Illustrationen