Tracking the Economic Impact of COVID-19 and Mitigation Policies in Europe and the United States (original) (raw)

Strong Social Distancing Measures In The United States Reduced The COVID-19 Growth Rate

Health Affairs, 2020

State and local governments imposed social distancing measures in March and April of 2020 to contain the spread of novel coronavirus disease 2019 (COVID-19). These included large event bans, school closures, closures of entertainment venues, gyms, bars, and restaurant dining areas, and shelter-in-place orders (SIPOs). We evaluated the impact of these measures on the growth rate of confirmed COVID-19 cases across US counties between March 1, 2020 and April 27, 2020. An event-study design allowed each policy's impact on COVID-19 case growth to evolve over time. Adoption of government-imposed social distancing measures reduced the daily growth rate by 5.4 percentage points after 1-5 days, 6.8 after 6-10 days, 8.2 after 11-15 days, and 9.1 after 16-20 days. Holding the amount of voluntary social distancing constant, these results imply 10 times greater spread by April 27 without SIPOs (10 million cases) and more than 35 times greater spread without any of the four measures (35 million). Our paper illustrates the potential danger of exponential spread in the absence of interventions, providing relevant information to strategies for restarting economic activity.

How did governmental interventions affect the spread of COVID-19 in European countries?

Background To reduce transmission of Coronavirus Disease 2019, European governments have implemented successive measures to encourage social distancing. However, it remained unclear how effectively measures reduced the spread of the virus, due to data complications. We examined how the effective-contact rate (ECR) among European citizens evolved over the period with implemented measures using a new data-oriented approach that is based on an extended Susceptible-Exposed-Infectious-Removed (SEIR) model. Methods Using the available data on the confirmed numbers of infections and hospitalizations, we first estimated the daily number of infectious-, exposed- and susceptible individuals and subsequently estimated the ECR with an iterative Poisson regression model, disregarding information on governmental measures. We then studied change points in the daily ECRs to the moments of the governmental measures. Results The change points in the daily ECRs were found to align with the implementat...

The Effects of Social Distancing Measures on COVID-19 Spreads in European Countries

Review of Economic Perspectives

This study investigates the effects of social distancing measures on various types of social mobility, using country- and day-fixed effects on a panel of daily data comprising 29 European countries. Although social distancing measures proved to be significant for all types of mobility in the examined period, they are best captured by retail and recreation mobility. Linear effects of restrictive measures on COVID-19 cases and deaths are examined by OLS regression with country- and day-fixed effects on a panel of 29 European countries, while non-linear effects were investigated by quantile regressions. Stricter mobility restrictions significantly reduced COVID-19 cases and deaths, but the variant of the virus was also an important determinant. Although the Delta variant was much more infectious, its mortality reduced. However, the impact of social distancing measures on COVID-19 cases and deaths was not constant but strengthened with increasing quantiles of the distribution of cases a...

Estimating worldwide effects of non-pharmaceutical interventions on COVID-19 incidence and population mobility patterns using a multiple-event study

Scientific Reports

Various non-pharmaceutical interventions were adopted by countries worldwide in the fight against the COVID-19 pandemic with adverse socioeconomic side effects, which raises the question about their differential effectiveness. We estimate the average dynamic effect of each intervention on the incidence of COVID-19 and on people’s whereabouts by developing a statistical model that accounts for the contemporaneous adoption of multiple interventions. Using daily data from 175 countries, we show that, even after controlling for other concurrent lockdown policies, cancelling public events, imposing restrictions on private gatherings and closing schools and workplaces had significant effects on reducing COVID-19 infections. Restrictions on internal movement and public transport had no effects because the aforementioned policies, imposed earlier on average, had already de facto reduced human mobility. International travel restrictions, although imposed early, had a short-lived effect faili...

How many could have been saved? Effects of social distancing on COVID-19

Revista de Administração Pública

What is the effect of social distancing policies on the spread of the new coronavirus? Social distancing policies rose to prominence as most capable of containing contagion and saving lives. Our purpose in this paper is to identify the causal effect of social distancing policies on the number of confirmed cases of COVID-19 and on contagion velocity. We align our main argument with the existing scientific consensus: social distancing policies negatively affect the number of cases. To test this hypothesis, we construct a dataset with daily information on 78 affected countries in the world. We compute several relevant measures from publicly available information on the number of cases and deaths to estimate causal effects for short-term and cumulative effects of social distancing policies. We use a time-series cross-sectional matching approach to match countries’ observable histories. Causal effects (ATTs and ATEs) can be extracted via a dif-in-dif estimator. Results show that social d...

SHARE Working Paper Series 74-2021: The economic impact of the first wave of the pandemic on 50+ Europeans

2021

We analyse the effects of the Covid-19 crisis on the economic situation of 50+ Europeans. We construct a financial distress indicator that captures experiencing an income loss, difficulties to make ends meet and the need to postpone payments. We find that education and income before the pandemic have a protective role, and so does being past retirement age. For households under retirement age, instead, the pandemic has exacerbated inequalities. We also investigate whether households report worse difficulties in making ends meet compared to the pre-COVID period. We show that their ability to make ends meet worsens more with income losses during the pandemic compared to losses experienced in the two-year period before the pandemic.

Global Evidence on the Economic Effects of Disease Suppression During COVID-19

Governments around the world attempted to suppress the spread of COVID-19 using restrictions on social and economic activity. This study presents the first global analysis of the welfare impacts of those policies, using Gallup World Poll data from 321,000 randomly selected adults in 117 countries. Using several measures of economic harm, impacted individuals experience a loss in subjective-well-being and are more likely to have low socio-economic status. A one-standard deviation increase in policy stringency predicts a 0.28 standard deviation increase in economic harm, corresponding to a three-percentage point increase in the share of workers experiencing job loss. These results are supported by robustness checks and validation exercises. A decomposition shows that stay-at-home orders and other economic restrictions were strongly associated with economic harm, but other non-pharmaceutical interventions were not. Furthermore, we show that adults with lower socio-economic status were ...

The effect of social distance measures on COVID-19 epidemics in Europe: an interrupted time series analysis

GeroScience, 2020

Following the introduction of unprecedented “stay-at-home” national policies, the COVID-19 pandemic recently started declining in Europe. Our research aims were to characterize the changepoint in the flow of the COVID-19 epidemic in each European country and to evaluate the association of the level of social distancing with the observed decline in the national epidemics. Interrupted time series analyses were conducted in 28 European countries. Social distance index was calculated based on Google Community Mobility Reports. Changepoints were estimated by threshold regression, national findings were analyzed by Poisson regression, and the effect of social distancing in mixed effects Poisson regression model. Our findings identified the most probable changepoints in 28 European countries. Before changepoint, incidence of new COVID-19 cases grew by 24% per day on average. From the changepoint, this growth rate was reduced to 0.9%, 0.3% increase, and to 0.7% and 1.7% decrease by increasi...

Back to basics: measuring the impact of interventions to limit the spread of COVID-19 in Europe

Archives of Public Health, 2022

Background Following the emergence of the COVID-19 pandemic in Europe at the start of 2020, most countries had implemented various measures in an attempt to control the spread of the virus. This study analyses the main non-pharmaceutical interventions and their impact on the rate by which cumulative cases and deaths were growing in Europe during the first wave of this pandemic. Methods The interventions analysed are the school closures, restrictions on travel, cancellation of events, restrictions on gatherings, partial and full lockdowns. Data was collected on the implementation date of these interventions, and the number of daily cases and deaths during the first wave of the pandemic for every country and territory geographically located in Europe. The study uses growth rates to calculate the increase in cumulative cases and deaths in Europe before, during, and after these interventions were implemented. Results The results show that decisions to close schools, cancel events, and r...

How Non-Pharmaceutical Interventions, Politics, Race, and Economic Conditions Impacted the Rate of New Infections of COVID-19

*******NOTE TO READERS! PLEASE FOCUS YOUR ATTENTION TO THE PAPER ABOVE (CLOSE ENCOUNTERS OF A HETEROGENOUS KIND). *********** We explore daily new infections of COVID-19 in the United States from January 22, 2020 to May 17, 2020 and factors influencing the trajectory of new infections. Using daily county level infection data and state shutdown orders (SSOs), we first show that new infections fell significantly faster in areas targeted by SSOs. We then demonstrate that the magnitude of the effect on new infections depends upon the strength of the intervention, with "Shelter in Place" orders having the largest effect. We show social distancing (as measured through cellphone "ping" data), is inversely related to new infections. Last, we close by demonstrating that the county responses to SSOs, depend upon the county's characteristics. ***Note to readers: This version is different from the original. There was an error caused by updated data and this caused large changes in some of the analysis. All of the changes occurred in section 4.2 and due to the contemporaneous nature of social distancing and state shutdown orders. We did not see these changes. We apologize for such carelessness.****