Tiziana Assenza, Fabrice Collard, Martial Dupaigne, Patrick Feve, Christian Hellwig, Sumudu Kankanamge, Nicolas Werquin, 15 May 2020

How should governments balance controlling the COVID-19 pandemic with limiting its economic costs? This column argues that health policy and economic policy objectives in pandemic control are not that far apart, and that the epidemiological strategies adopted by many countries – aptly described as a ‘hammer and dance’ – are also based on sound economic principles. By paying close attention to behavioural responses and externalities, the authors offer concrete prescriptions for lockdown and recovery policies.

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