| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27794 |
| 来源ID | Working Paper 27794 |
| The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S. | |
| Greg Kaplan; Benjamin Moll; Giovanni L. Violante | |
| 发表日期 | 2020-09-07 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We provide a quantitative analysis of the trade-offs between health outcomes and the distribution of economic outcomes associated with alternative policy responses to the COVID-19 pandemic. We integrate an expanded SIR model of virus spread into a macroeconomic model with realistic income and wealth inequality, as well as occupational and sectoral heterogeneity. In the model, as in the data, economic exposure to the pandemic is strongly correlated with financial vulnerability, leading to very uneven economic losses across the population. We summarize our findings through a distributional pandemic possibility frontier, which shows the distribution of economic welfare costs associated with the different aggregate mortality rates arising under alternative containment and fiscal strategies. For all combinations of health and economic policies we consider, the economic welfare costs of the pandemic are large and heterogeneous. Thus, the choice governments face when designing policy is not just between lives and livelihoods, as is often emphasized, but also over who should bear the burden of the economic costs. We offer a quantitative framework to evaluate both trade-offs. |
| 主题 | Macroeconomics ; COVID-19 |
| URL | https://www.nber.org/papers/w27794 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585465 |
| 推荐引用方式 GB/T 7714 | Greg Kaplan,Benjamin Moll,Giovanni L. Violante. The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S.. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27794.pdf（939KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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