Production Networks and Epidemic Spreading: How to Restart the UK Economy?   [open pdf - 0B]

Fro the Introduction: "The social distancing measure imposed to combat the COVID-19 [coronavirus disease 2019] pandemic have created severe disruptions to economic output. Governments throughout the world are contemplating or implementing measures to ease social distancing and reopen the economy, which may involve a tradeoff between increasing economic output vs. increasing the expected number of deaths due to the pandemic. [...] We present a summary of our re-opening scenarios results[.] We then present in detail our economic model and its calibration in Section 3. We show out model predictions for the UK economy in Section 4 and discuss production network effects and reopening single industries in Section 5. We introduce the epidemic model and present effects of re-starting the economy on infectious contagion in Section 6. We conclude in Section 7."

Report Number:
INET Oxford Working Paper No. 2020-12; Institute for New Economic Thinking Oxford Working Paper No. 2020-12
Institute for New Economic Thinking
Retrieved From:
Institute for New Economic Thinking at the Oxford Martin School: https://www.inet.ox.ac.uk/
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