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"Pandemic Economics applies economic theory to the Covid-19 era, exploring the micro and macro dimensions of the pre-pandemic …, pandemic and post-pandemic phases. Using core economic tools such as marginal analysis, cost-benefit analysis and opportunity … cost, this book explores the breadth of economic outcomes from the pandemic. It shows that a trade-off between public …
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We embed a lockdown choice in a simplified epidemiological model and derive formulas for the optimal lockdown intensity and duration. The optimal policy reflects the rate of time preference, epidemiological factors, the hazard rate of vaccine discovery, learning effects in the health care...
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