全球智库信息集成服务系统(G2TT): DP14606 Health versus Wealth: On the Distributional Effects of Controlling a Pandemic

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP14606
	DP14606 Health versus Wealth: On the Distributional Effects of Controlling a Pandemic
	Andrew Glover; Jonathan Heathcote; Dirk Krueger; Jose-Victor Rios-Rull
发表日期	2020-04-26
出版年	2020
语种	英语
摘要	Many countries are shutting non-essential sectors of the economy to slow the spread of COVID-19. The gains and losses from these policies are very unequally distributed. Older individuals have most to gain from slowing virus diffusion. Younger workers in sectors that are shuttered have the most to lose. In this paper we first extend a standard epidemiological model of disease progression to include heterogeneity by age, and multiple sources of disease transmission. We then incorporate the epidemiological block into a multi-sector economic model in which workers differ by sector (basic and luxury) as well as by health status. Individuals value consumption, life, and health. We study optimal mitigation policies of a utilitarian government that can redistribute resources across individuals, but where such redistribution is costly. We show that optimal redistribution- and mitigation policies interact and thus the utilitarian government chooses a very different mitigation policy path than would be suggested by a representative agent setting. This policy reflects a compromise between the strongly diverging preferred policy paths across the subgroups of the population.
主题	Labour Economics ; Macroeconomics and Growth ; Monetary Economics and Fluctuations ; Public Economics
关键词	Covid-19 Economic policy Redistribution
URL	https://cepr.org/publications/dp14606-0
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/543578
推荐引用方式 GB/T 7714	Andrew Glover,Jonathan Heathcote,Dirk Krueger,et al. DP14606 Health versus Wealth: On the Distributional Effects of Controlling a Pandemic. 2020.