The Common Interests of Health Protection and the Economy: Evidence from Scenario Calculations of COVID-19 Containment Policies

Autor: Sahamoddin Khailaie, Sebastian Binder, Timo Wollmershaeuser, Berit Lange, Florian Dorn, Stefan Lautenbacher, Andreas Peichl, Marc Stoeckli, Michael Meyer-Hermann, Clemens Fuest, Patrizio Vanella
Rok vydání: 2020
Předmět:
Popis: Several countries use shutdown strategies to contain the spread of the COVID-19 epidemic, at the expense of massive economic costs. While this suggests a conflict between health protection and economic objectives, we examine whether the economically optimal exit strategy can be reconciled with the containment of the epidemic. We use a novel combination of epidemiological and economic simulations for scenario calculations based on empirical evidence from Germany. Our findings suggest that a prudent opening is economically optimal, whereas costs are higher for a more extensive opening process. This rejects the view that there is a conflict with health protection. Instead, it is in the common interest of public health and the economy to relax non-pharmaceutical interventions in a manner that keeps the epidemic under control.
Databáze: OpenAIRE