Lockdowns and the Aggregate Dynamics of a Pandemic: Mind the Rebound!
Hubert Kempf and
Stéphane Rossignol
Journal of Public Economic Theory, 2025, vol. 27, issue 4
Abstract:
We study optimal lockdown decisions taken by a policymaker facing a pandemic modeled according to the standard SIRD deterministic model. The policymaker trades off the economic costs and the mortality record of the pandemic which depend on the severity and duration of the lockdown. We contrast the shortsightedness versus the farsightedness of the policymaker. Policy‐related peaks and rebounds are characterized and explain why a strong eradication policy is self‐defeating. A farsighted policy should not be too severe so as to avoid a rebound. The shortest duration consistent with a given health goal is not the less costly. There exists an optimal pair of duration and lockdown severity resulting in herd immunity.
Date: 2025
References: Add references at CitEc
Citations:
Downloads: (external link)
https://doi.org/10.1111/jpet.70050
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:jpbect:v:27:y:2025:i:4:n:e70050
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1097-3923
Access Statistics for this article
Journal of Public Economic Theory is currently edited by Rabah Amir, Gareth Myles and Myrna Wooders
More articles in Journal of Public Economic Theory from Association for Public Economic Theory Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().