This week’s IGM Economic Experts Panel statements:
A) Even if tests for Covid-19 are being rationed, there is an urgent need for some random testing to establish baseline levels of the virus to inform any decisions about ending lockdowns.
B) Required elements for an economic ‘restart’ after lockdowns include a massive increase in testing capacity (for infections and antibodies) along with a coherent strategy for preventing new outbreaks and reintroducing low-risk/no-risk individuals into public activities.
Keyword: mortality
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This week’s IGM Economic Experts Panel statements:
A) A comprehensive policy response to the coronavirus will involve tolerating a very large contraction in economic activity until the spread of infections has dropped significantly.
B) Abandoning severe lockdowns at a time when the likelihood of a resurgence in infections remains high will lead to greater total economic damage than sustaining the lockdowns to eliminate the resurgence risk.
C) Optimally, the government would invest more than it is currently doing in expanding treatment capacity through steps such as building temporary hospitals, accelerating testing, making more masks and ventilators, and providing financial incentives for the production of a successful vaccine.
This week’s IGM Economic Experts Panel statements:
A) Even if the mortality of COVID-19 proves to be limited (similar to the number of flu deaths in a regular season), it is likely to cause a major recession.
B) The economic effects of COVID-19 coming from reduced spending will be larger than those coming from disruptions to supply chains and illness-related workforce reductions.
This week’s IGM European Economic Experts Panel statements:
A) Even if the mortality of COVID-19 proves to be limited (similar to the number of flu deaths in a regular season), it is likely to cause a major recession.
B) The economic effects of COVID-19 coming from reduced spending will be larger than those coming from disruptions to supply chains and illness-related workforce reductions.
C) The economic policy institutions of the Eurozone are well equipped to ameliorate the potential economic damage from COVID-19.
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