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Keywords:Shutdowns 

Working Paper
Health versus Wealth: On the Distributional Effects of Controlling a Pandemic

To slow the spread of COVID-19, many countries are shutting down nonessential sectors of the economy. Older individuals have the most to gain from slowing virus diffusion. Younger workers in sectors that are shuttered have the most to lose. In this paper, we build a model in which economic activity and disease progression are jointly determined. Individuals differ by age (young and retired), by sector (basic and luxury), and by health status. Disease transmission occurs in the workplace, in consumption activities, at home, and in hospitals. We study the optimal economic mitigation policy of a ...
Research Working Paper , Paper RWP 20-03

Discussion Paper
April Update: The Coronavirus and Firms in the Fifth Dis

Over the past several weeks, social distancing and shutdowns have impacted our economy. Fifth District firms continued to tell us how COVID-19 has affected their business operations in recent surveys.
Regional Matters

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