Article: The optimality of age-based lockdown policies.
Journal of policy modeling
2022 Volume 44, Issue 3, Page(s) 722–738
Abstract: This paper studies an age-based lockdown that keeps over-60 workers at home as policy response to COVID-19 pandemic in a sample of thirty countries of the European single market. Three main policy issues are addressed, and the results can be summarized ... ...
| Abstract | This paper studies an age-based lockdown that keeps over-60 workers at home as policy response to COVID-19 pandemic in a sample of thirty countries of the European single market. Three main policy issues are addressed, and the results can be summarized as follows. First, age-based lockdown policies are associated with limited output losses and, therefore, are an efficient strategy to limit the spread of the virus in a pandemic, especially in presence of strong age-dependent fatality rates. Second, lockdown policies generate substantial spillover effects; hence, international policy coordination avoiding that too many countries are in lockdown contemporaneously or that such coordination takes place across the countries with the highest integration of over-60 workers along GVCs may be helpful in reducing disruptions. Third, non-targeted lockdowns are much more costly than age-based ones; therefore, other things equal, age-based policies should always be preferred to non-targeted ones. Our analysis also suggests that, in our sample, the over-60 workers are relatively more numerous in sectors where the value added and the integration in GVCs is lower; this feature should be kept in mind in the design of other policies as it might play an important role. |
|---|---|
| Language | English |
| Publishing date | 2022-05-10 |
| Publishing country | United States |
| Document type | Journal Article |
| ISSN | 0161-8938 |
| ISSN | 0161-8938 |
| DOI | 10.1016/j.jpolmod.2022.05.001 |
| Database | MEDical Literature Analysis and Retrieval System OnLINE |
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