This work evaluates the short-term impact of the earthquake that hit Central Italy in 2016. Using balance sheet data from a sample of about five thousand firms in the seismic area, the performance of firms located within the seismic area is compared with that of firms featuring similar characteristics but located outside it.
In the year when the earthquake happened (2016), revenues declined by over 5 per cent for firms within the seismic area (about 20 per cent of the value of sales in the last quarter of the year, when most of the tremors occurred). In 2017, the effects lessened overall, except for tertiary firms closer to the epicentres, owing to their reliance on local and tourist-related demand.
