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characterize equilibrium, optimal outcomes, static and dynamic externalities, and prove the following: (i) A lockdown generically … arrives deterministically, optimal policy is discontinous, featuring a light/strict lockdown when the arrival date exceeds … gains from optimal policy unless the government lacks instruments to stimulate activity after a lockdown. …
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We develop a heterogeneous-agents network-based model to analyze alternative policies during a pandemic outbreak, accounting for health and economic trade-offs within the same empirical framework. We leverage a variety of data sources, including data on individuals' mobility and encounters...
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