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Restarting “normal” life after Covid-19 and the lockdown: Evidence from Spain, the United Kingdom, and Italy

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  • codagnone, cristiano
  • Bogliacino, Francesco

    (Universidad Nacional de Colombia)

  • Gómez, Camilo Ernesto

    (Centro de Investigaciones para el Desarrollo)

  • Folkvord, F.
  • Liva, Giovanni
  • Charris, Rafael Alberto

    (Universidad Nacional de Colombia)

  • Montealegre, Felipe

    (Universidad Nacional de Colombia)

  • Lupiáñez-Villanueva, Francisco
  • Veltri, Giuseppe Alessandro Prof

    (University of Trento)

Abstract

Currently, unprecedented series of events are taking place that affect the institutional structure of the world economy and the social fabric of our societies. In this article, we examine the expectations of the economic outlook, fear of the future, and behavioural change during the lockdown, for three European countries (Spain, the United Kingdom, and Italy) that have been severely hit by Covid-19. We use a novel data source that we collected to monitor the three countries during the pandemic. As outcome variables, we use expectations (e.g., economic outlook, labour market situation, recovery), fear (e.g., scenario of new outburst, economic depression, restriction to individual rights and freedom), and behavioural change across the following dimensions: savings, cultural consumption, social capital, and risky behaviour. After providing descriptive evidence that is representative of the population of interest, using longitudinal data from the same survey on exposure to shocks and matching techniques, we estimate the impact of exposure to shock occurred during the crisis on the same outcome variables.

Suggested Citation

  • codagnone, cristiano & Bogliacino, Francesco & Gómez, Camilo Ernesto & Folkvord, F. & Liva, Giovanni & Charris, Rafael Alberto & Montealegre, Felipe & Lupiáñez-Villanueva, Francisco & Veltri, Giuseppe, 2020. "Restarting “normal” life after Covid-19 and the lockdown: Evidence from Spain, the United Kingdom, and Italy," SocArXiv vd4cq, Center for Open Science.
  • Handle: RePEc:osf:socarx:vd4cq
    DOI: 10.31219/osf.io/vd4cq
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    Cited by:

    1. Abel Brodeur & David Gray & Anik Islam & Suraiya Bhuiyan, 2021. "A literature review of the economics of COVID‐19," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1007-1044, September.
    2. Gregory Fulkerson & Alexander Thomas & Jing-Mao Ho & James Zians & Elizabeth Seale & Michael McCarthy & Sallie Han, 2023. "COVID-19 and Social Capital Loss: The Results of a Campus Outbreak," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 165(3), pages 867-878, February.
    3. Vincenzo Alfano, 2022. "Does social capital enforce social distancing? The role of bridging and bonding social capital in the evolution of the pandemic," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 39(3), pages 839-859, October.

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    More about this item

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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