On the optimal 'lockdown' during an epidemic

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Standard

On the optimal 'lockdown' during an epidemic. / Gonzalez-Eiras, Martin; Niepelt, Dirk.

I: Covid Economics, Bind 1, Nr. 7, 4, 20.04.2020, s. 72-91.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Gonzalez-Eiras, M & Niepelt, D 2020, 'On the optimal 'lockdown' during an epidemic', Covid Economics, bind 1, nr. 7, 4, s. 72-91.

APA

Gonzalez-Eiras, M., & Niepelt, D. (2020). On the optimal 'lockdown' during an epidemic. Covid Economics, 1(7), 72-91. [4].

Vancouver

Gonzalez-Eiras M, Niepelt D. On the optimal 'lockdown' during an epidemic. Covid Economics. 2020 apr. 20;1(7):72-91. 4.

Author

Gonzalez-Eiras, Martin ; Niepelt, Dirk. / On the optimal 'lockdown' during an epidemic. I: Covid Economics. 2020 ; Bind 1, Nr. 7. s. 72-91.

Bibtex

@article{5f4a381574f04ff5a7b3c4bc87e96fc5,
title = "On the optimal 'lockdown' during an epidemic",
abstract = "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 sector, and the severity of output losses due to a lockdown. In our baseline specification a Covid-19 shock as currently experienced by the US optimally triggers a reduction in economic activity by two thirds, for about 50 days, or approximately 9.5 percent of annual GDP.",
keywords = "Faculty of Social Sciences, COVID-19, lockdown, optimal control",
author = "Martin Gonzalez-Eiras and Dirk Niepelt",
year = "2020",
month = apr,
day = "20",
language = "English",
volume = "1",
pages = "72--91",
journal = "Covid Economics",
publisher = "Centre for Economic Policy Research, CEPR",
number = "7",

}

RIS

TY - JOUR

T1 - On the optimal 'lockdown' during an epidemic

AU - Gonzalez-Eiras, Martin

AU - Niepelt, Dirk

PY - 2020/4/20

Y1 - 2020/4/20

N2 - 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 sector, and the severity of output losses due to a lockdown. In our baseline specification a Covid-19 shock as currently experienced by the US optimally triggers a reduction in economic activity by two thirds, for about 50 days, or approximately 9.5 percent of annual GDP.

AB - 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 sector, and the severity of output losses due to a lockdown. In our baseline specification a Covid-19 shock as currently experienced by the US optimally triggers a reduction in economic activity by two thirds, for about 50 days, or approximately 9.5 percent of annual GDP.

KW - Faculty of Social Sciences

KW - COVID-19

KW - lockdown

KW - optimal control

M3 - Journal article

VL - 1

SP - 72

EP - 91

JO - Covid Economics

JF - Covid Economics

IS - 7

M1 - 4

ER -

ID: 280289026