Containing the Virus or Reviving the Economy? Survey from China Provides an Answer

During the COVID-19 public health crisis, policymakers face a tough tradeoff between containing the coronavirus using aggressive measures such as lockdown and stay home quarantine, and reviving the economy which encourages the continuation of normal economic activities. Our research team conducted an online survey tracing the same individuals over a few weeks from late February to mid-March this year, aiming to understand whether individuals’ expectations on economic prospects are more affected by the severity of the COVID-19 epidemic, or the level of ongoing economic activities. In other words, do people care more about containing the disease or sustaining normal economic activities when forming their economic expectations during an epidemic…