A Simple Planning Problem for COVID-19 Lock-down, Testing and Tracing
We study the optimal lock-down for a planner who controls the fatalities of COVID-19 while minimizing the output costs of the lockdown. The policy prescribes a severe lock-down beginning a few weeks after the outbreak, covering almost 50 percent of the population after a month, with a total duration shy of 4 months. The intensity of the optimal lock-down depends on the gradient of the fatality rate with respect to the infected and the availability of antibody testing, which yields a welfare gain of 2 percent of GDP. We also study test-tracing-quarantine, which we show to be complementary to lock-down.
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Work Title | A Simple Planning Problem for COVID-19 Lock-down, Testing and Tracing |
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License | In Copyright (Rights Reserved) |
Work Type | Article |
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Publication Date | September 2021 |
Publisher Identifier (DOI) |
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Deposited | July 20, 2022 |
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