Arbeitspapier
COVID-19: Erroneous Modelling and Its Policy Implications
Research in Economics on COVID-19 posits an economy subject to disease dynamics, which are often seriously misspecified in terms of speed and scale. Using a social planner problem, we show that such misspecifications lead to misguided policy. Erroneously characterizing a relatively slow-moving disease engenders dramatically higher death tolls and excessive output loss relative to the correct benchmark. We delineate the latter, employing epidemiological evidence on the timescales of COVID-19 transmission and clinical progression. The resulting sound model is simple, transparent, and novel in Economics.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 14202
- Klassifikation
-
Wirtschaft
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Studies of Particular Policy Episodes
Crisis Management
Value of Life; Forgone Income
- Thema
-
optimal policy
public health
GDP loss
COVID-19
disease dynamics and scale
misspecification
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bar-On, Yinon
Baron, Tatiana
Cornfeld, Ofer
Milo, Ron
Yashiv, Eran
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute of Labor Economics (IZA)
- (wo)
-
Bonn
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bar-On, Yinon
- Baron, Tatiana
- Cornfeld, Ofer
- Milo, Ron
- Yashiv, Eran
- Institute of Labor Economics (IZA)
Entstanden
- 2021
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