Table 9.
Effects of the Flu on Inflation.
| (1) Urban CPI | (2) Rural CPI | |
|---|---|---|
| Panel A: Mortality | ||
| Excess Death Ratect | 0.78 | 3.39 |
| (0.45) | (2.58) | |
| Lag CPIct | −0.05 | −0.73*** |
| (0.05) | (0.07) | |
| Panel B: Mortality(2) | ||
| Excess Death Ratect | 0.75 | 3.33 |
| (0.44) | (2.57) | |
| Excess Death Rate Lagct | 0.47 | 1.06 |
| (0.36) | (1.98) | |
| Lag CPIct | −0.05 | −0.74*** |
| (0.05) | (0.07) | |
| Total Effect | 1.22** | 4.39 |
| (0.52) | (2.93) | |
| Province Fixed Effects | Y | Y |
| Year Fixed Effects | Y | Y |
| Observations | 720 | 720 |
Notes: Dependent variable in columns 1 is urban inflation and in column 2 is rural inflation. Excess Death Rate is difference between actual number of death and predicted by linear regression (normalized by population). See text for more details. The table reports fixed effects regressions weighted by population. Standard errors are clustered at the year level. * p < 0.10, ** p < 0.05, *** p < 0.01.