The Effect Covid -19 Pandemic had on the Inflation on Health Products: The Case of Greece


This essay discusses the connection between medicinal product inflation and the covid-19 pandemic’s downfall. For this study, we combined potential S and M estimators into an integrated autoregressive model, using the resilient least squares model under the MM-estimator. We use a collection of six regressors (Money supply on its broad definition – M3, unemployment, Athens stock exchange market general indicator deviation, oil price, balance of payments, and GNP growth) in order to explain the impact on monthly health products inflation during a 21-year period (2000-21). A chow point test reveals the presence of the COVID-19 pandemic, with the breakpoint on the country’s initial response steps (March 2020). Results indicate that there was no statistically significant difference between the two periods, and the autoregressive factor over the dependent variable is significant for a four-month period. M3, unemployment, oil prices, and the balance of payments appear to be the main contributing factors to the increase in the cost of medical products.

Author(s) Details:

Dimitrios Dapontas,
University of Patras, Greece.

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Keywords: Health CPI, Covid-19, unemployment, robust least squares


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