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Exploring the Economic Effects of COVID-19 in the United States through the Seismograph

In: The Economics of COVID-19

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  • Luca Tiozzo Pezzoli
  • Elisa Tosetti

Abstract

Seismometers continuously record a wide range of ground movements not caused by earthquake activity, but rather generated by human activities such as traffic, industrial machinery functioning and industrial processes. In this Chapter we exploit seismic data to predict variations in Gross Domestic Product (GDP) for a set of States in the USA over the period from 2016 to 2021. We measure the noise generated at specific frequencies that are linked to human activity and use it as an indicator of economic activity. We show a remarkable reduction in seismic noise due to a slowdown in traffic and economic activities during the Corona economic crisis. Our results point at seismic data as a valuable source of information that can be used for monitoring regional and national economies.

Suggested Citation

  • Luca Tiozzo Pezzoli & Elisa Tosetti, 2022. "Exploring the Economic Effects of COVID-19 in the United States through the Seismograph," Contributions to Economic Analysis, in: The Economics of COVID-19, volume 127, pages 85-93, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:ceazzz:s0573-855520220000296007
    DOI: 10.1108/S0573-855520220000296007
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    More about this item

    Keywords

    Seismology; noise; forecasting; GDP; employment; seismic noise; C55; D14; R11;
    All these keywords.

    JEL classification:

    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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