We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our … approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization … procedure that makes the pre-policy paths of the epidemic identical across regions. The procedure uncovers regional variation in …

We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our … approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization … procedure that makes the pre-policy paths of the epidemic identical across regions. The procedure uncovers regional variation in …

/paper looks more closely at that episode, dissecting the macroeconomic impact of the coronavirus, viewing it up close through its … to struggle with the pandemic, and for when it enters a more normalized (post-pandemic) world. …

We study the macroeconomic effects of the COVID-19 epidemic in a quantitative dynamic general equilibrium setup with … play during the epidemic. According to our results, treating the observed output contraction as a standard recession leads … economy and containing the epidemic. If no administrative restrictions are in place, the second motive prevails and, despite …