IDEAS home Printed from https://ideas.repec.org/a/gam/jrisks/v8y2020i4p115-d439377.html
   My bibliography  Save this article

First Quarter Chronicle of COVID-19: An Attempt to Measure Governments’ Responses

Author

Listed:
  • Şule Şahin

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    Department of Actuarial Sciences, Hacettepe University, 06800 Ankara, Turkey
    These authors contributed equally to this work.)

  • María del Carmen Boado-Penas

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

  • Corina Constantinescu

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

  • Julia Eisenberg

    (Financial & Actuarial Mathematics, TU Wien, Wiedner Hauptstr. 8/E105-1, 1040 Vienna, Austria
    These authors contributed equally to this work.)

  • Kira Henshaw

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

  • Maoqi Hu

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

  • Jing Wang

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

  • Wei Zhu

    (Institute for Financial and Actuarial Mathematics, Department of Mathematical Sciences, University of Liverpool, Liverpool L69 7ZL, UK
    These authors contributed equally to this work.)

Abstract

The crisis caused by the outbreak of COVID-19 revealed the global unpreparedness for handling the impact of a pandemic. In this paper, we present a first quarter chronicle of COVID-19 in Hubei China, Italy and Spain, particularly focusing on infection speed, death and fatality rates. By analysing the parameters of the best fitting distributions of the available data for the three rates in each of the three regions, we illustrate the pandemic’s evolution in relation to government measures. We compared the effectiveness of lockdown measures by observing the true situation in each dataset, without proposing a mathematical model. The feasibility of obtaining a firm conclusion in regard to the best solution for containing COVID-19 is limited, with a universal solution failing to exist due to globally varying culture, mentality and behaviours. Our method provides valid insights into the individual and national actions implemented and adhered to in order to slow the effect of the pandemic during the first-wave of COVID-19.

Suggested Citation

  • Şule Şahin & María del Carmen Boado-Penas & Corina Constantinescu & Julia Eisenberg & Kira Henshaw & Maoqi Hu & Jing Wang & Wei Zhu, 2020. "First Quarter Chronicle of COVID-19: An Attempt to Measure Governments’ Responses," Risks, MDPI, vol. 8(4), pages 1-26, November.
  • Handle: RePEc:gam:jrisks:v:8:y:2020:i:4:p:115-:d:439377
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-9091/8/4/115/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2227-9091/8/4/115/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Fernando Alvarez & David Argente, 2020. "A Simple Planning Problem for COVID-19 Lockdown," Working Papers 2020-34, Becker Friedman Institute for Research In Economics.
    2. Arianna Agosto & Paolo Giudici, 2020. "A Poisson Autoregressive Model to Understand COVID-19 Contagion Dynamics," Risks, MDPI, vol. 8(3), pages 1-8, July.
    3. Seth Flaxman & Swapnil Mishra & Axel Gandy & H. Juliette T. Unwin & Thomas A. Mellan & Helen Coupland & Charles Whittaker & Harrison Zhu & Tresnia Berah & Jeffrey W. Eaton & Mélodie Monod & Azra C. Gh, 2020. "Estimating the effects of non-pharmaceutical interventions on COVID-19 in Europe," Nature, Nature, vol. 584(7820), pages 257-261, August.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pablo D. Fajgelbaum & Amit Khandelwal & Wookun Kim & Cristiano Mantovani & Edouard Schaal, 2021. "Optimal Lockdown in a Commuting Network," American Economic Review: Insights, American Economic Association, vol. 3(4), pages 503-522, December.
    2. Giorgio Fabbri & Salvatore Federico & Davide Fiaschi & Fausto Gozzi, 2024. "Mobility decisions, economic dynamics and epidemic," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 77(1), pages 495-531, February.
    3. Lin Ma & Gil Shapira & Damien de Walque & Quy‐Toan Do & Jed Friedman & Andrei A. Levchenko, 2022. "The Intergenerational Mortality Trade‐Off Of Covid‐19 Lockdown Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1427-1468, August.
    4. Famiglietti, Matthew & Leibovici, Fernando, 2022. "The impact of health and economic policies on the spread of COVID-19 and economic activity," European Economic Review, Elsevier, vol. 144(C).
    5. Christian Gollier, 2020. "Cost–benefit analysis of age‐specific deconfinement strategies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(6), pages 1746-1771, December.
    6. Jacek Rothert, 2020. "Optimal federal redistribution during the uncoordinated response to a pandemic," Departmental Working Papers 64, United States Naval Academy Department of Economics.
    7. George, Ammu & Li, Changtai & Lim, Jing Zhi & Xie, Taojun, 2021. "From SARS to COVID-19: The evolving role of China-ASEAN production network," Economic Modelling, Elsevier, vol. 101(C).
    8. Lee, Munseob & Finerman, Rachel, 2021. "COVID-19, commuting flows, and air quality," Journal of Asian Economics, Elsevier, vol. 77(C).
    9. Foliano, Francesca & Tonei, Valentina & Sevilla, Almudena, 2024. "Social restrictions, leisure and well-being," Labour Economics, Elsevier, vol. 87(C).
    10. Ichino, Andrea & Favero, Carlo A. & Rustichini, Aldo, 2020. "Restarting the economy while saving lives under Covid-19," CEPR Discussion Papers 14664, C.E.P.R. Discussion Papers.
    11. Kumar, Anand & Priya, Bhawna & Srivastava, Samir K., 2021. "Response to the COVID-19: Understanding implications of government lockdown policies," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 76-94.
    12. David Baqaee & Emmanuel Farhi, 2020. "Nonlinear Production Networks with an Application to the Covid-19 Crisis," NBER Working Papers 27281, National Bureau of Economic Research, Inc.
    13. Gottlieb Charles & Grobovšek Jan & Poschke Markus & Saltiel Fernando, 2022. "Lockdown Accounting," The B.E. Journal of Macroeconomics, De Gruyter, vol. 22(1), pages 197-210, January.
    14. Emanuele Amodio & Michele Battisti & Antonio Francesco Gravina & Andrea Mario Lavezzi & Giuseppe Maggio, 2023. "School‐age vaccination, school openings and Covid‐19 diffusion," Health Economics, John Wiley & Sons, Ltd., vol. 32(5), pages 1084-1100, May.
    15. Guglielmo Maria Caporale & Woo-Young Kang & Fabio Spagnolo & Nicola Spagnolo, 2022. "The COVID-19 pandemic, policy responses and stock markets in the G20," International Economics, CEPII research center, issue 172, pages 77-90.
    16. Aldo Carranza & Marcel Goic & Eduardo Lara & Marcelo Olivares & Gabriel Y. Weintraub & Julio Covarrubia & Cristian Escobedo & Natalia Jara & Leonardo J. Basso, 2022. "The Social Divide of Social Distancing: Shelter-in-Place Behavior in Santiago During the Covid-19 Pandemic," Management Science, INFORMS, vol. 68(3), pages 2016-2027, March.
    17. Nicola Fuchs-Schündeln & Dirk Krueger & André Kurmann & Etienne Lalé & Alexander Ludwig & Irina Popova, 2023. "The Fiscal and Welfare Effects of Policy Responses to the Covid-19 School Closures," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 35-98, March.
    18. Basu, Sayantani & Campbell, Roy H., 2020. "Going by the numbers : Learning and modeling COVID-19 disease dynamics," Chaos, Solitons & Fractals, Elsevier, vol. 138(C).
    19. Houštecká, Anna & Koh, Dongya & Santaeulàlia-Llopis, Raül, 2021. "Contagion at work: Occupations, industries and human contact," Journal of Public Economics, Elsevier, vol. 200(C).
    20. Boswijk, H. Peter & Laeven, Roger J.A. & Vladimirov, Evgenii, 2024. "Estimating option pricing models using a characteristic function-based linear state space representation," Journal of Econometrics, Elsevier, vol. 244(1).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jrisks:v:8:y:2020:i:4:p:115-:d:439377. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.