Long-run effects of fetal influenza exposure: Evidence from Switzerland

► The paper is the first to estimate long-run effects of fetal exposure to the 1918/19 influenza pandemic for a European country. ► Comparing Swiss cohorts with and without fetal exposure, we find that exposure impairs socioeconomic outcomes. ► Namely, we find reductions in educational attainment, labor market success, and the chance to marry. ► The effects are typically larger for males than for females. ► We obtain similar results when we exploit regional differences in influenza severity to identify long-run effects.