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Restarting the Economy While Saving Lives under COVID-19

SSRN, ISSN: 1556-5068
2020
  • 61
    Citations
  • 23,570
    Usage
  • 80
    Captures
  • 1
    Mentions
  • 72
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    61
    • Citation Indexes
      52
    • Policy Citations
      9
      • Policy Citation
        9
  • Usage
    23,570
    • Abstract Views
      18,433
    • Downloads
      5,137
  • Captures
    80
  • Mentions
    1
    • Blog Mentions
      1
      • Blog
        1
  • Social Media
    72
    • Shares, Likes & Comments
      72
      • Facebook
        72
  • Ratings
    • Download Rank
      3,544

Article Description

We provide, calibrate and test a realistic model of the spread of SARS-Cov-2 in an economy with different risks related to age and sectors. The model considers hospital congestion and response of individuals adjusting their behavior to the virus' spread. We measure precisely the size of these effects using real data for Italy on intensive care capacity and mobility decisions; thus our claim is that the tradeoffs we estimate are quantitatively, rather than qualitatively, approximately correct. We characterize the policies of containment of the epidemic that are efficient with respect to number of fatalities and GDP loss. Prudent policies of gradual return to work may save many lives with limited economic costs, as long as they differentiate by age group and risk sector. More careful behavior of individuals induced by the perceived cost of infection may contribute to further reduce fatalities.

Bibliographic Details

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