We embed a lockdown choice in a simplified epidemiological model and derive formulas for the optimal lockdown intensity … discovery, learning effects in the health care sector, and the severity of output losses due to a lockdown. In our baseline …

alternative evolution of the pandemic, assuming that states extended the lockdown measures until daily new cases reach the levels … of European countries after their lockdown measures were relaxed. In the baseline simulation, we find that cases and …

This paper reexamines the design of the optimal lockdown strategy by paying attention to its robustness to the … postulated social welfare criterion. We first characterize optimal lockdown under utilitarianism, and we show that this social …-maximal lockdown saving lives at the cost of reducing average utility at a given period, there exists always a stricter lockdown, which …

characterize equilibrium, optimal outcomes, static and dynamic externalities, and prove the following: (i) A lockdown generically … arrives deterministically, optimal policy is dis-continuous, featuring a light/strict lockdown when the arrival date exceeds … gains from optimal policy unless the government lacks instruments to stimulate activity after a lockdown. …

lockdown while containing the spread of the virus. Such policies may, however, need to be complemented by selective containment …