TY - BOOK
T1 - Disentangling Covid-19, Economic Mobility, and Containment Policy Shocks
AU - Camehl, Annika
AU - Rieth, M
PY - 2021
Y1 - 2021
N2 - 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 inmobility, cases, and deaths worldwide. These flattened the pandemic curve, while deepening the global mobility recession. The policy tradeoff is 1p.p. less mobility per day for 9% fewer deaths after two months.
AB - 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 inmobility, cases, and deaths worldwide. These flattened the pandemic curve, while deepening the global mobility recession. The policy tradeoff is 1p.p. less mobility per day for 9% fewer deaths after two months.
M3 - Report
T3 - Tinbergen Institute Discussion Paper
BT - Disentangling Covid-19, Economic Mobility, and Containment Policy Shocks
PB - Tinbergen Institute
ER -