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When Will Italy Recover?

Author

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  • Dimitri B. Papadimitriou
  • Francesco Zezza
  • Gennaro Zezza

Abstract

Italy was the first European country to be impacted by COVID-19, rapidly overwhelming healthcare facilities in some areas and prompting the government to shut down nonessential economic activities, with an inevitable (asymmetric) impact on production and income. Though the gradual reopening of most business activities began in 2020Q3, the extent of the shutdown’s damage is difficult to assess. The current political debate is now focusing on what can be achieved with European funds (in the form of both grants and loans), which should become available beginning in 2021. In this Strategic Analysis, Institute President Dimitri B. Papadimitriou, Research Associate Francesco Zezza, and Research Scholar Gennaro Zezza detail the shutdown's impact on business activities in Italy, incorporating the planned government intervention with preliminary evidence available through 2020Q3 to evaluate a baseline projection for the Italian economy up to 2022.

Suggested Citation

  • Dimitri B. Papadimitriou & Francesco Zezza & Gennaro Zezza, 2020. "When Will Italy Recover?," Economics Strategic Analysis Archive sa_10_20, Levy Economics Institute.
    • Handle: RePEc:lev:levysa:sa_10_20
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    References listed on IDEAS

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    1. Tito Boeri & Andrea Ichino & Enrico Moretti & Johanna Posch, 2021. "Wage Equalization and Regional Misallocation: Evidence from Italian and German Provinces [“Regional Wage Disparities and Migration.”]," Journal of the European Economic Association, European Economic Association, vol. 19(6), pages 3249-3292.
    2. Giovannini, Alessandro & Hauptmeier, Sebastian & Leiner-Killinger, Nadine & Valenta, Vilém, 2020. "The fiscal implications of the EU’s recovery package," Economic Bulletin Boxes, European Central Bank, vol. 6.
    3. Massimo Amato & Luca Fantacci & Dimitri B. Papadimitriou & Gennaro Zezza, 2016. "Going Forward from B to A? Proposals for the Eurozone Crisis," Economies, MDPI, vol. 4(3), pages 1-14, August.
    4. Francesco Zezza & Gennaro Zezza, 2020. "A Stock-Flow Consistent Quarterly Model of the Italian Economy," Economics Working Paper Archive wp_958, Levy Economics Institute.
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