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The 1918 influenza did not kill the US economy
As the world grapples with the health and economic consequences of the coronavirus outbreak, the 1918 Spanish flu is receiving renewed attention. And with reason: the Spanish flu infected about 500 million people worldwide and claimed around 50 million lives—including about 675,000 Americans, or about 0.67% of the country’s population. Much of existing economic work on the influenza pandemic has focused on understanding its impact on health and human capital (Almond 2006, Beach, et al. 2018, Clay et al. 2018). In light of the sizable immediate contraction in economic activity created by the coronavirus outbreak, ... (full story)
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