When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave:
Governments around the world have adopted unprecedented policies to deal with COVID-19. This paper zooms in on business shutdowns and investigates their effectiveness in reducing mortality. We leverage highly granular death registry data for almost 5,000 Italian municipalities in a diff-in-diff appr...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
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Paris
OECD Publishing
2021
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Online-Zugang: | Volltext |
| Zusammenfassung: | Governments around the world have adopted unprecedented policies to deal with COVID-19. This paper zooms in on business shutdowns and investigates their effectiveness in reducing mortality. We leverage highly granular death registry data for almost 5,000 Italian municipalities in a diff-in-diff approach that allows us to mitigate endogeneity concerns credibly. Our results, which are robust to controlling for a host of co-factors, offer strong evidence that business shutdowns are very effective in reducing mortality. We calculate that the death toll from the first wave of COVID-19 in Italy may have been about twice as high in their absence. Our findings also highlight that timeliness is key - by acting one week earlier, the death toll may have been reduced by up to an additional 25%. Finally, shutdowns should be targeted. Closing service activities with a high degree of interpersonal contact saves the most lives. Shutting down production activities - while substantially reducing mobility - only has mild effects on mortality |
| Beschreibung: | 1 Online-Ressource (30 Seiten) |
| DOI: | 10.1787/095b5d62-en |
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| spelling | Ciminelli, Gabriele Verfasser aut When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave Gabriele Ciminelli and Sílvia Garcia-Mandicó Paris OECD Publishing 2021 1 Online-Ressource (30 Seiten) txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers Governments around the world have adopted unprecedented policies to deal with COVID-19. This paper zooms in on business shutdowns and investigates their effectiveness in reducing mortality. We leverage highly granular death registry data for almost 5,000 Italian municipalities in a diff-in-diff approach that allows us to mitigate endogeneity concerns credibly. Our results, which are robust to controlling for a host of co-factors, offer strong evidence that business shutdowns are very effective in reducing mortality. We calculate that the death toll from the first wave of COVID-19 in Italy may have been about twice as high in their absence. Our findings also highlight that timeliness is key - by acting one week earlier, the death toll may have been reduced by up to an additional 25%. Finally, shutdowns should be targeted. Closing service activities with a high degree of interpersonal contact saves the most lives. Shutting down production activities - while substantially reducing mobility - only has mild effects on mortality Economics Italy Garcia-Mandicó, Sílvia ctb https://doi.org/10.1787/095b5d62-en Verlag kostenfrei Volltext |
| spellingShingle | Ciminelli, Gabriele When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave Economics Italy |
| title | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave |
| title_auth | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave |
| title_exact_search | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave |
| title_exact_search_txtP | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave |
| title_full | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave Gabriele Ciminelli and Sílvia Garcia-Mandicó |
| title_fullStr | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave Gabriele Ciminelli and Sílvia Garcia-Mandicó |
| title_full_unstemmed | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave Gabriele Ciminelli and Sílvia Garcia-Mandicó |
| title_short | When and how do business shutdowns work? Evidence from Italy's first COVID-19 wave |
| title_sort | when and how do business shutdowns work evidence from italy s first covid 19 wave |
| topic | Economics Italy |
| topic_facet | Economics Italy |
| url | https://doi.org/10.1787/095b5d62-en |
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