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The collapse of economic activity in 2020 from COVID-19 has been immense. An important question is how much of that resulted from government restrictions on activity versus people voluntarily choosing to stay home to avoid infection. This paper examines the drivers of the collapse using cellular...
Persistent link: https://www.econbiz.de/10012481627
Does social distancing harm innovation? We estimate the effect of non-pharmaceutical interventions (NPIs)--policies that restrict interactions in an attempt to slow the spread of disease--on local invention. We construct a panel of issued patents and NPIs adopted by 50 large US cities during the...
Persistent link: https://www.econbiz.de/10012482371
Domestic mobility restrictions to control the spread of COVID-19 are widespread in developing countries, and have trapped millions of migrant workers in hotspot cities. We show that bans can increase cumulative infections relative to a counterfactual sans restrictions. A SEIR model shows bans'...
Persistent link: https://www.econbiz.de/10012510577
Numerous government policies have attempted to keep workers out of the workplace, on the assumption that this will lower transmission of COVID-19. We test that assumption, measuring the effect of aggregate workplace absence on US COVID deaths at the county level through August. Instrumenting...
Persistent link: https://www.econbiz.de/10012482493
-19 and the administration of vaccines. To overcome biases that can result from the endogeneity of federal aid allocations … volume of tests administered. Regarding the total number of vaccines delivered, we estimate that an additional $1,000 in … between the vaccination rates of those with a college education relative to those with a high school education. Finally, our …
Persistent link: https://www.econbiz.de/10013334424
We review economic arguments for using public policy to accelerate vaccine supply during a pandemic. Rapidly vaccinating a large share of the global population helps avoid economic, mortality, and social losses, which in the case of Covid-19 mounted into trillions of dollars. However,...
Persistent link: https://www.econbiz.de/10013334410
. Calibrating the model to the US Covid-19 pandemic reveals an 80% reduction in death toll due to voluntary actions and the lockdown … implemented in the US. The optimal lockdown, however, is more stringent than what was implemented in the US. Moreover, the social … testing, showing its impact on reduced deaths, lower economic costs and laxer lockdown. We use the framework to provide …
Persistent link: https://www.econbiz.de/10014576587
-triggered lockdown that has hampered people's physical interactions hence the ability to collect, process, and transmit soft information …. Exploiting the cross- sectional and time-series variations of lockdown, we investigate how the difficulty to use soft information … show that lockdown reduces fund investment in proximate stocks and generates a portfolio rebalancing toward distant stocks …
Persistent link: https://www.econbiz.de/10012696422
We study the response of an economy to an unexpected epidemic. Households mitigate the spread of the disease by …
Persistent link: https://www.econbiz.de/10012481940
This paper presents a simple price-theory approach to Covid-19 lockdown and reopening policy. The key idea is to … formulation provides economics language for a policy middle ground between society-wide lockdown and ignore-the-virus, and a new …
Persistent link: https://www.econbiz.de/10012482312