pandemic's toll on the economy and mortality. A timely, limited lockdown solves the coordination failure allowing policymakers …

We present a Simple SIR Macro Model to study the economic impact of an epidemic in a model were agent types are … planner cannot differentiate between agent types). We find that decentralized economy produces an endogenous lockdown in which … economic activity decreases. We find that the decentralized economy will begin its lockdown sooner than what the optimal policy …

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 …

We study the optimal lockdown policy for a planner who wants to control the fatalities of a pandemic while minimizing … parametrize the model using data on the COVID19 pandemic and the economic breadth of the lockdown. The quantitative analysis … the output costs of the lockdown. We use the SIR epidemiology model and a linear economy to formalize the planner …