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A TIP Against the COVID-19 Pandemic

Author

Listed:
  • Reda Cherif
  • Fuad Hasanov

Abstract

A universal testing and isolation policy is the most viable way to vanquish a pandemic. Its implementation requires: (i) an epidemiological rather than clinical approach to testing, sacrificing accuracy for scalability, convenience and speed; and (ii) state intervention to ramp up production, similar to True Industrial Policy (TIP), on a global level to achieve a scale and speed the market alone would fail to provide. We sketch a strategy to tackle market failures and implement smart testing, especially in densely populated areas. The estimated cost of testing is dwarfed by its return, mitigating the economic fallout of the pandemic.

Suggested Citation

  • Reda Cherif & Fuad Hasanov, 2020. "A TIP Against the COVID-19 Pandemic," IMF Working Papers 2020/114, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2020/114
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    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy

    Citations

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    Cited by:

    1. Eduardo Gutiérrez & Enrique Moral-Benito, 2020. "Medidas de contención, evolución del empleo y propagación del Covid-19 en los municipios españoles," Occasional Papers 2022, Banco de España.
    2. Andrew Atkeson & Michael Droste & Michael J. Mina & James H. Stock, 2020. "Economic Benefits of COVID-19 Screening Tests," Staff Report 616, Federal Reserve Bank of Minneapolis.
    3. Thomas Gries & Paul J. J. Welfens, 2021. "Testing as an approach to control the Corona epidemic dynamics and avoid lockdowns," International Economics and Economic Policy, Springer, vol. 18(1), pages 1-24, February.
    4. Agarwal,Ruchir & Reed,Tristan, 2021. "How to End the COVID-19 Pandemic by March 2022," Policy Research Working Paper Series 9632, The World Bank.

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