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Cost–benefit analysis of age‐specific deconfinement strategies
Journal of Public Economic Theory ( IF 1.336 ) Pub Date : 2020-11-02 , DOI: 10.1111/jpet.12486
Christian Gollier 1
Affiliation  

I calibrate a Multiple‐Risk Susceptible–Infected–Recovered model on the covid pandemic to analyze the impact of the age‐specific confinement and polymerase chain reaction (PCR) testing policies on incomes and mortality. Two polar strategies emerge as potentially optimal. The suppression policy would crush the curve by confining 90% of the population for 4 months to eradicate the virus. The flatten‐the‐curve policy would reduce the confinement to 30% of the population for 5 months, followed by almost 1 year of free circulation of the virus to attain herd immunity without overwhelming hospitals. Both strategies yield a total cost of around 15% of annual gross domestic product (GDP) when combining the economic cost of confinement with the value of lives lost. I show that hesitating between the two strategies can have a huge societal cost, in particular if the suppression policy is stopped too early. Because seniors are much more vulnerable, a simple recommendation emerges to shelter them as one deconfines young and middle‐aged people to build our collective herd immunity. By doing so, one reduces the death toll of the pandemic together with the economic cost of the confinement, and the total cost is divided by a factor 2. I also show that expanding the mass testing capacity to screen people sent back to work has a large benefit under various scenarios. This analysis is highly dependent upon deeply uncertain epidemiologic, sociological, economic, and ethical parameters.

中文翻译:

特定年龄限制策略的成本效益分析

我在共同流行病中校准了多病原易感感染恢复模型,以分析特定年龄限制和聚合酶链反应(PCR)测试政策对收入和死亡率的影响。出现了两个极好的潜在最佳策略。抑制政策将限制90%的人口消灭病毒4个月,从而压倒了曲线。曲线平直的政策将在5个月内将人口减少到30%,然后将病毒自由流通近1年,以在没有压倒性医院的情况下实现畜群免疫。将禁闭的经济成本与失去的生命价值结合起来时,这两种策略的总成本约为年度国内生产总值(GDP)的15%。我表明,在这两种策略之间犹豫不决会带来巨大的社会成本,特别是如果抑制政策停止得太早。由于老年人更容易受到伤害,因此提出了一个简单的建议来庇护他们,因为他们会解散年轻人和中年人,以建立我们的集体畜群免疫力。这样一来,可以减少大流行的死亡人数,并减少监禁的经济成本,总成本除以系数2。我还表明,扩大大规模测试能力以筛查遣返工作的人有一个好处。在各种情况下都有很大的好处。这种分析高度依赖于非常不确定的流行病学,社会学,经济和伦理学参数。提出一个简单的建议来庇护他们,因为他们会剥夺年轻人和中年人的注意力,以建立我们的集体畜群免疫力。这样一来,可以减少大流行的死亡人数,并减少监禁的经济成本,总成本除以系数2。我还表明,扩大大规模测试能力以筛查遣返工作的人有一个好处。在各种情况下都有很大的好处。这种分析高度依赖于非常不确定的流行病学,社会学,经济和伦理学参数。提出一个简单的建议来庇护他们,因为他们会剥夺年轻人和中年人的注意力,以建立我们的集体畜群免疫力。这样一来,可以减少大流行的死亡人数,并减少监禁的经济成本,总成本除以系数2。我还表明,扩大大规模测试能力以筛查遣返工作的人有一个好处。在各种情况下都有很大的好处。这种分析高度依赖于非常不确定的流行病学,社会学,经济和伦理学参数。
更新日期:2020-11-02
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