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lockdown corrects this externality, allowing policymakers to buy time to expand the testing scale so as to preserve the testing …
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Countries worldwide have implemented lockdown measures to contain the covid-19 pandemic. After more than three months … message is that there is no "health vs. economics" dichotomy. Rather, some degree of lockdown is typically optimal in crisis … like this, balancing its economic costs against its health benefits. Moreover, the optimal lockdown is dynamic, changes …
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. 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 …
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Strict containment limits the spread of pandemics but is difficult to achieve when people must continue to work to avoid poverty. A new role is emerging for income support: by enabling people to effectively stay home, it can produce substantial health externalities. We examine this issue using...
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