Fig 7. Estimates of time fixed effects.

The blue line shows the coefficients on the time dummies. The dotted red line shows the fitted values obtained as follows: (1) we regress the estimated time fixed effects on the number of infections nationwide, the declaration of the state of emergency (April 7 and 16), the lifting of the state of emergency (May 14 and May 25), and Weekend/Holiday dummy; (2) we set the coefficient on the Weekend/Holiday dummy to zero in order to eliminate periodical fluctuations due to the weekend/holiday effect.