  In response to the COVID-19 pandemic, National governments have applied
lockdown restrictions to reduce the infection rate. We perform a massive
analysis on near real-time Italian data provided by Facebook to investigate how
lockdown strategies affect economic conditions of individuals and local
governments. We model the change in mobility as an exogenous shock similar to a
natural disaster. We identify two ways through which mobility restrictions
affect Italian citizens. First, we find that the impact of lockdown is stronger
in municipalities with higher fiscal capacity. Second, we find a segregation
effect, since mobility restrictions are stronger in municipalities for which
inequality is higher and where individuals have lower income per capita.
