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US states have implemented lockdown measures to contain the COVID-19 pandemic. We assess the impact of state policy responses on local economic and health conditions, with the goal to shed light on marginal health benefits and economic costs associated with social distancing. We find that...
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cover pandemics have a change in trend and persistence in growth, and in level and persistence in unemployment. We find that … in recent times seem to have a permanent effect on growth. Moreover, our results show that the unemployment rate …
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yielded a dual effect: lowering both output growth and inflation rates, while concurrently exacerbating unemployment rates …
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