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The fiscal response to the Italian COVID-19 crisis: A counterfactual analysis

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  • DI BARTOLOMEO, Giovanni
  • D'IMPERIO, Paolo
  • FELICI, Francesco

Abstract

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.

Suggested Citation

  • DI BARTOLOMEO, Giovanni & D'IMPERIO, Paolo & FELICI, Francesco, 2021. "The fiscal response to the Italian COVID-19 crisis: A counterfactual analysis," Working Papers 2021006, University of Antwerp, Faculty of Business and Economics.
    • Handle: RePEc:ant:wpaper:2021006
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    Cited by:

    1. Pierpaolo Benigno & Paolo Canofari & Giovanni Bartolomeo & Marcello Messori, 2024. "The Spectre of Financial Dominance in the Eurozone," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 10(1), pages 59-80, March.
    2. Pierpaolo Benigno & Paolo Canofari & Giovanni Di Bartolomeo & Marcello Messori, 2021. "Financial Dominance in the Pandemic and Post-Pandemic European Economy," Working Papers in Public Economics 206, University of Rome La Sapienza, Department of Economics and Law.
    3. Giorgio Di Pietro, 2022. "Changes in household income during COVID-19: a longitudinal analysis," SN Business & Economics, Springer, vol. 2(10), pages 1-20, October.

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    More about this item

    Keywords

    COVID-19; Coronavirus; Macroeconomic impact; Fiscal policies; Lockdowns; Fiscal-policy-study case;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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