Di Bartolomeo Giovanni, D'Imperio Paolo, Felici Francesco
Department of Economics and Law, Sapienza University of Rome and Department of Economics, University of Antwerp Italy.
Treasury Department, Ministry of Economy and Finance, Italy.
J Macroecon. 2022 Sep;73:103447. doi: 10.1016/j.jmacro.2022.103447. Epub 2022 Jun 2.
The COVID-19 pandemic is an unprecedented worldwide event with a massive impact on the economic system. The first Western country that had to face the COVID-19 crisis was Italy, which therefore represents a natural "case study." By using the microdata and granular policy information available at the Italian Ministry of Economy and Finance, this paper provides a macroeconomic quantitative assessment of the initial emergency fiscal measures introduced in 2020 and an analysis of the impact of the COVID-19 shock during the lockdown. We find that emergency measures avoided an additional fall of GDP of about 4.4% in 2020. The impact of public interventions on the dynamics of investments is particularly significant.
新冠疫情是一场前所未有的全球性事件，对经济体系产生了巨大影响。第一个不得不面对新冠疫情危机的西方国家是意大利，因此它是一个天然的“案例研究”对象。通过使用意大利经济和财政部提供的微观数据及详细政策信息，本文对2020年推出的初始紧急财政措施进行了宏观经济定量评估，并分析了封锁期间新冠疫情冲击的影响。我们发现，紧急措施避免了2020年国内生产总值（GDP）约4.4%的额外下降。公共干预对投资动态的影响尤为显著。
