Optimal lockdown policy for vaccination during COVID-19 pandemic

Yuting Fu, Hanqing Jin, Haitao Xiang and Ning Wang

Finance Research Letters, 2022, vol. 45, issue C

Abstract: As the COVID-19 spreads across the world, many nations impose lockdown measures at the early stage of the pandemic to prevent the spread of the disease. Controversy surrounds the lockdown as it is a choice between economic freedom and public health. The ultimate solution to a pandemic is to vaccinate a massive population to achieve herd immunity. However, the whole vaccination programme is a long and complicated process. The virus and the vaccine will coexist for quite a long time. How to gradually ease the lockdown based on vaccination progress is an important question, as both economic and epidemiological issues are involved. In this paper, we extend the classic SIR model to find optimal decision to balance between economy and public health in the process of vaccination rollout. The model provides an approach of vaccine value estimation. Our results provide scientific suggestion for policymakers to make important decisions on how to gradually relax the strength for the lockdown over the entire vaccination cycle.

Keywords: COVID-19; Equilibrium; SIR; Lockdown; Optimal control (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:45:y:2022:i:c:s154461232100204x

DOI: 10.1016/j.frl.2021.102123

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