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The geography of pandemic containment

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Authors and Corporations: Giannone, Elisa (Author), Paixão, Nuno (Author), Pang, Xinle (Author)
Other Authors: Paixão, Nuno [Author] • Pang, Xinle [Author]
Edition: Last updated: June 10, 2021
Type of Resource: E-Book
Language: English
published:
[Ottawa] Bank of Canada [2021]
Series: Bank of Canada: Staff working paper ; 2021, 26
Subjects:
USA
USA
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: How does interconnectedness affect the course of a pandemic? What are the optimal withinand between-state containment policies? We embed a spatial SIR model into a multi-sector quantitative trade model. We calibrate it to US states and the COVID-19 pandemic and find that interconnectedness increases the death toll by 146,200 lives. A local within-state containment policy minimizes welfare losses relative to a national policy or to one that reduces mobility between states. The optimal policy combines local within- and betweenstate restrictions and saves 289,300 lives. This optimal policy induces a peak reduction in mobility of 25.97% that saves approximately 23% more lives. Different timing of policies across states is key to minimizing losses. States like South Carolina might have imposed internal lockdowns too early but travel restrictions too late.
Physical Description: 1 Online-Ressource (circa 44 Seiten); Illustrationen