The 1918 epidemic and a V-shaped recession: Evidence from historical tax records
Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
Standard
The 1918 epidemic and a V-shaped recession: Evidence from historical tax records. / Dahl, Christian Møller; Hansen, Casper Worm; Jensen, Peter Sandholt.
I: The Scandinavian Journal of Economics, Bind 124, Nr. 1, 2022, s. 139-163.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
Harvard
APA
Vancouver
Author
Bibtex
}
RIS
TY - JOUR
T1 - The 1918 epidemic and a V-shaped recession: Evidence from historical tax records
AU - Dahl, Christian Møller
AU - Hansen, Casper Worm
AU - Jensen, Peter Sandholt
PY - 2022
Y1 - 2022
N2 - We exploit high-quality vital statistics data and annual income data, obtained from historical municipality tax records, to study the economic aftermath of the 1918 influenza epidemic in Denmark. We find that average income followed a V-shaped path from 1917 to 1919, and (if anything) municipalities with higher mortality rates because of the 1918 influenza epidemic experienced more pronounced declines and recoveries. In addition, national month-by-industry unemployment data show that unemployment rates were high during the epidemic, but decreased again a couple of months after the epidemic receded. Evidence from the Danish stock-market exchange also indicates that the epidemic only had short-lived effects on the economy.
AB - We exploit high-quality vital statistics data and annual income data, obtained from historical municipality tax records, to study the economic aftermath of the 1918 influenza epidemic in Denmark. We find that average income followed a V-shaped path from 1917 to 1919, and (if anything) municipalities with higher mortality rates because of the 1918 influenza epidemic experienced more pronounced declines and recoveries. In addition, national month-by-industry unemployment data show that unemployment rates were high during the epidemic, but decreased again a couple of months after the epidemic receded. Evidence from the Danish stock-market exchange also indicates that the epidemic only had short-lived effects on the economy.
KW - 1918-influenza epidemic
KW - Pandemic Economics
KW - V-shaped recession
KW - 1918-influenza epidemic
KW - Pandemic Economics
KW - V-shaped recession
U2 - 10.1111/sjoe.12456
DO - 10.1111/sjoe.12456
M3 - Journal article
VL - 124
SP - 139
EP - 163
JO - Scandinavian Journal of Economics
JF - Scandinavian Journal of Economics
SN - 0347-0520
IS - 1
ER -
ID: 279650406