Federica Romei discussion of: Safe choices?
讨论疫情期间是否可无限制运行经济，通过校准瑞典数据，认为自由放任均衡下消费削减不足但成本不高，考虑未建模的封锁成本后成本更低。
The authors pose an extremely relevant question: Could we have let the economy operate without restrictions during the pandemic while keeping contagion rates low? The authors suggest that households would have consumed goods in the non-contagious sectors of the economy and would have cut their consumption in the contagious sector. Since contagion is associated with a negative externality, in a laissez-faire allocation consumers might not cut their consumption enough, relative to the socially optimum amount. The authors argue, however, that such a laissez-faire equilibrium would not have been too costly. In my view, considering in addition costs associated with the lockdown that are not modelled explicitly at the current stage, such as the increase in domestic violence and mental health problems, the costs of laissez-faire would have been even lower. The authors calibrate the model to match the Swedish experience, since Sweden was the only country in Europe that did...