economic costs of the Covid-19 pandemic relative to what they would have been if pre-existing recommendations had been followed … for ongoing implementations of pre-pandemic plans. These three areas are important in and of themselves, as well as for … setting the groundwork for pandemic stress tests and wargames. …

lockdown while containing the spread of the virus. Such policies may, however, need to be complemented by selective containment …

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 …/falls short of a specific value. Calibrated to the ongoing COVID-19 pandemic the baseline model and a battery of robustness checks …