A Simple Planning Problem for COVID-19 Lockdown and Smart Tracing∗
A Simple Planning Problem for COVID-19 Lockdown and Smart Tracing∗
复制标题
COVID-19 封锁和智能追踪的简单规划问题*
DOI:
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发表时间:
2020
期刊:
影响因子:
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通讯作者:
David Argente
中科院分区:
文献类型:
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作者:
F. Álvarez;David Argente
We study the optimal lockdown policy for a planner who controls the fatalities of a pandemic while minimizing the output costs of the lockdown. The policy depends on the fraction of infected and susceptible in the population, prescribing a severe lockdown beginning two weeks after the outbreak, covering 60% of the population after a month, and gradually withdrawing to 20% of the population after 3 months. The intensity of the optimal lockdown depends on the gradient of the fatality rate with respect to the infected, and the availability of antibody testing that yields a welfare gain of 2% of GDP. We discuss two extensions: the first endows the planner with a test-tracing-quarantine instrument, which we show to complement the lockdown and increase efficiency. The second studies optimal lockdown under the assumption that better technologies to deal with the epidemic will be available in the near future. ∗First draft, March 23, 2020. We benefited from the comments of Andrew Atkeson, Gadi Barlevy, Mike Golosov, Fausto Gozzi, Francois Gourio, Lars Hansen, Kiminori Matsuyama, Magne Mogstad, Steve Mohr, Casey Mulligan, Tom Phelan, Filip Rozsypal, Fabiano Schivardi, Rob Shimer, Daniele Terlizzese, Fabrice Tourre, Marcelo Veracierto, Ivan Werning, and panelists and participants on the HELP! (Health and Pandemics Economics Group) seminar, the World Bank’s Development Policy and Covid-19 e-seminar, the Federal Reserve Bank of Chicago Virtual Macro Seminar, University of Chicago Economics Virtual Seminar, OVPR’s COVID-19 Forum Social Sciences Focus, the Riksbank, the Banque de France Virtual Seminar, the Pennsylvania State University Virtual Seminar, and the Bank of Mexico Virtual Seminar. We are grateful to Andy Atkeson for suggesting us to work on the tracing-testing-quarantine extension of our simple planning problem. The authors declare to have no conflict of interest to disclose regarding the research on this paper.