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The Great Lockdown and the Big Stimulus: Tracing the Pandemic Possibility Frontier for the U.S

Citations

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Cited by:

  1. Daiji Kawaguchi & Sagiri Kitao & Manabu Nose, 2022. "The impact of COVID-19 on Japanese firms: mobility and resilience via remote work," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(6), pages 1419-1449, December.
  2. Giorgio Fabbri & Salvatore Federico & Davide Fiaschi & Fausto Gozzi, 2024. "Mobility decisions, economic dynamics and epidemic," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 77(1), pages 495-531, February.
  3. Ursula Berresheim, 2026. "Work from Home, Work for Less? How Workplace Flexibility Affects Mothers’ Careers," CRC TR 224 Discussion Paper Series crctr224_2025_733, University of Bonn and University of Mannheim, Germany.
  4. Dirk Niepelt & Mart n Gonzalez-Eiras, 2020. "Optimally Controlling an Epidemic," Diskussionsschriften dp2019, Universitaet Bern, Departement Volkswirtschaft.
  5. Antoci, Angelo & Sabatini, Fabio & Sacco, Pier Luigi & Sodini, Mauro, 2022. "Experts vs. policymakers in the COVID-19 policy response," Journal of Economic Behavior & Organization, Elsevier, vol. 201(C), pages 22-39.
  6. Stefan Pollinger, 2023. "Optimal Contact Tracing and Social Distancing Policies to Suppress A New Infectious Disease," The Economic Journal, Royal Economic Society, vol. 133(654), pages 2483-2503.
  7. van Wijnbergen, Sweder, 2022. "Lockdowns as options," Economics Letters, Elsevier, vol. 214(C).
  8. Temesvary, Judit & Wei, Andrew, 2024. "Domestic lending and the pandemic: How does banks’ exposure to COVID-19 abroad affect their lending in the United States?," Journal of International Money and Finance, Elsevier, vol. 143(C).
  9. Didier, Tatiana & Huneeus, Federico & Larrain, Mauricio & Schmukler, Sergio L., 2021. "Financing firms in hibernation during the COVID-19 pandemic," Journal of Financial Stability, Elsevier, vol. 53(C).
  10. Hinterlang, Natascha & Moyen, Stephane & Röhe, Oke & Stähler, Nikolai, 2023. "Gauging the effects of the German COVID-19 fiscal stimulus package," European Economic Review, Elsevier, vol. 154(C).
  11. Gertler, Mark & Huckfledt, Christopher & Trigari, Antonella, 2022. "Temporary Layoffs, Loss-of-Recall, and Cyclical Unemployment Dynamics," CEPR Discussion Papers 17376, C.E.P.R. Discussion Papers.
  12. Theologos Dergiades & Costas Milas & Elias Mossialos & Theodore Panagiotidis, 2023. "COVID-19 anti-contagion policies and economic support measures in the USA," Oxford Economic Papers, Oxford University Press, vol. 75(3), pages 613-630.
  13. Andrea M. Tilstra & Antonino Polizzi & Sander Wagner & Evelina T. Akimova, 2024. "Projecting the long-term effects of the COVID-19 pandemic on U.S. population structure," Nature Communications, Nature, vol. 15(1), pages 1-10, December.
  14. Dolado, Juan J & Jimeno, Juan Francisco, 2020. "The Spanish Labour Market at the Crossroads: Covid†19 meets the Megatrends," CEPR Discussion Papers 15452, C.E.P.R. Discussion Papers.
  15. Kwiatkowski Eugeniusz & Szymańska Agata, 2022. "Sectoral changes of employment in Poland during the COVID-19 pandemic: Are reallocation shock effects applicable?," Economics and Business Review, Sciendo, vol. 8(2), pages 113-144, July.
  16. Bambi, Mauro & Ghilli, Daria & Gozzi, Fausto & Leocata, Marta, 2024. "Habits and demand changes after COVID-19," Journal of Mathematical Economics, Elsevier, vol. 110(C).
  17. Lin Ma & Gil Shapira & Damien de Walque & Quy‐Toan Do & Jed Friedman & Andrei A. Levchenko, 2022. "The Intergenerational Mortality Trade‐Off Of Covid‐19 Lockdown Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(3), pages 1427-1468, August.
  18. Shiou‐Yen Chu, 2024. "The impact of the COVID‐19 pandemic on high‐skilled and low‐skilled labor markets in a DSGE model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 71(1), pages 41-74, February.
  19. Chryssi Giannitsarou & Stephen Kissler & Flavio Toxvaerd, 2021. "Waning Immunity and the Second Wave: Some Projections for SARS-CoV-2," American Economic Review: Insights, American Economic Association, vol. 3(3), pages 321-338, September.
  20. Thiemo Fetzer, 2022. "Subsidising the spread of COVID-19: Evidence from the UK’S Eat-Out-to-Help-Out Scheme," The Economic Journal, Royal Economic Society, vol. 132(643), pages 1200-1217.
  21. Luisa Corrado & Stefano Grassi & Aldo Paolillo, 2021. "Modelling and Estimating Large Macroeconomic Shocks During the Pandemic," National Institute of Economic and Social Research (NIESR) Discussion Papers 530, National Institute of Economic and Social Research.
  22. Yinon Bar-On & Tatiana Baron & Ofer Cornfeld & Eran Yashiv, 2023. "When to Lock, Not Whom: Managing Epidemics Using Time-Based Restrictions," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 292-321, December.
  23. Kikuchi, Shinnosuke & Kitao, Sagiri & Mikoshiba, Minamo, 2021. "Who suffers from the COVID-19 shocks? Labor market heterogeneity and welfare consequences in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 59(C).
  24. Hongtao Li & Taisuke Nakata & Hiroki Sakamoto & Hiroyuki Uneya, 2026. "Lockdown Policy Rules with a Hospital Capacity Constraint," Working Papers e223, Tokyo Center for Economic Research.
  25. Brotherhood, Luiz & Kircher, Philipp & Santos, Cezar & Tertilt, Michèle, 2023. "Optimal Age-based Policies for Pandemics: An Economic Analysis of Covid-19 and Beyond," IDB Publications (Working Papers) 13295, Inter-American Development Bank.
  26. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2020. "A Macroeconomic Model of Healthcare Saturation, Inequality & the Output-Pandemia Tradeo," PIER Working Paper Archive 20-041, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  27. Bachmann, Rüdiger & Bayer, Christian & Kornejew, Martin, 2025. "Pandemic consumption," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
  28. Brotherhood, Luiz & Kircher, Philipp & Santos, Cezar & Tertilt, Michele, 2024. "Optimal Age-based Policies for Pandemics: An Economic Analysis of Covid-19 and Beyond," LIDAM Discussion Papers CORE 2024012, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  29. Jacek Rothert, 2022. "Optimal federal transfers during uncoordinated response to a pandemic," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 24(5), pages 1124-1153, October.
  30. Jaccard, Ivan, 2022. "The trade-off between public health and the economy in the early stage of the COVID-19 pandemic," Working Paper Series 2690, European Central Bank.
  31. Davide Bosco & Luca Portoghese, 2024. "Complementarity, Congestion and Information Design in Epidemics with Strategic Social Behaviour," DEM Working Papers Series 218, University of Pavia, Department of Economics and Management.
  32. Bonadio, Barthélémy & Huo, Zhen & Levchenko, Andrei A. & Pandalai-Nayar, Nitya, 2021. "Global supply chains in the pandemic," Journal of International Economics, Elsevier, vol. 133(C).
  33. Sewon Hur, 2023. "The Distributional Effects Of Covid‐19 And Optimal Mitigation Policies," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(1), pages 261-294, February.
  34. Yasushi Iwamoto, 2021. "Welfare economics of managing an epidemic: an exposition," The Japanese Economic Review, Springer, vol. 72(4), pages 537-579, October.
  35. Marco Pangallo & Alberto Aleta & R. Maria del Rio-Chanona & Anton Pichler & David Martín-Corral & Matteo Chinazzi & François Lafond & Marco Ajelli & Esteban Moro & Yamir Moreno & Alessandro Vespignani, 2024. "The unequal effects of the health–economy trade-off during the COVID-19 pandemic," Nature Human Behaviour, Nature, vol. 8(2), pages 264-275, February.
  36. Ambrogio Cesa-Bianchi & Andrea Ferrero, 2021. "The Transmission of Keynesian Supply Shocks," Discussion Papers 2116, Centre for Macroeconomics (CFM).
  37. Phurichai Rungcharoenkitkul, 2021. "Macroeconomic consequences of pandexit," BIS Working Papers 932, Bank for International Settlements.
  38. Martin S. Eichenbaum & Sergio Rebelo & Mathias Trabandt, 2022. "Inequality in Life and Death," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(1), pages 68-104, March.
  39. Hackethal, Andreas & Weber, Annika, 2020. "Fiscal policies and household consumption during the COVID-19 pandemic: A review of early evidence," SAFE White Paper Series 76, Leibniz Institute for Financial Research SAFE.
  40. Ascari, Guido & Colciago, Andrea & Silvestrini, Riccardo, 2023. "Business dynamism, sectoral reallocation and productivity in a pandemic," European Economic Review, Elsevier, vol. 156(C).
  41. Daisuke Fujii & Taisuke Nakata & Takeshi Ojima, 2022. "Heterogeneous Risk Attitudes and Waves of Infection," CARF F-Series CARF-F-546, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
  42. Donald Kemajou Njatang, 2021. "Impact économique de la COVID‐19 au Cameroun: Les résultats du modèle SIR‐macro," African Development Review, African Development Bank, vol. 33(S1), pages 126-138, April.
  43. Christian Bayer & Benjamin Born & Ralph Luetticke & Gernot J Müller, 2023. "The Coronavirus Stimulus Package: How Large is the Transfer Multiplier," The Economic Journal, Royal Economic Society, vol. 133(652), pages 1318-1347.
  44. Krause, Willi & Costa, Luís & Costa Filho, João Ricardo, 2023. "The Covid-19 Recession in Germany: A Macropidemiological Analysis," Working Papers REM 2023/0290, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
  45. Ben Moll, 2020. "The Research Agenda: Ben Moll on the Rich Interactions between Inequality and the Macroeconomy," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 21(2), November.
  46. Acedański, Jan, 2021. "Optimal lockdown policy during the election period," Economic Analysis and Policy, Elsevier, vol. 72(C), pages 102-117.
  47. Melina, Giovanni & Villa, Stefania, 2023. "Drivers of large recessions and monetary policy responses," Journal of International Money and Finance, Elsevier, vol. 137(C).
  48. Elisa Giannone & Nuno Paixao & Xinle Pang, 2021. "The Geography of Pandemic Containment," Staff Working Papers 21-26, Bank of Canada.
  49. Hausmann, Ricardo & Schetter, Ulrich, 2022. "Horrible trade-offs in a pandemic: Poverty, fiscal space, policy, and welfare," World Development, Elsevier, vol. 153(C).
  50. Laura Ketter & Todd Morris & Lizi Yu, 2025. "A new equilibrium: COVID-19 lockdowns and WFH persistence," Papers 2506.16671, arXiv.org.
  51. Brotherhood, Luiz & Jerbashian, Vahagn, 2023. "Firm behavior during an epidemic," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
  52. Martin Bodenstein & Giancarlo Corsetti & Luca Guerrieri, 2022. "Social distancing and supply disruptions in a pandemic," Quantitative Economics, Econometric Society, vol. 13(2), pages 681-721, May.
  53. Anand Chopra & Michael B. Devereux & Amartya Lahiri, 2022. "Pandemics through the lens of occupations," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(S1), pages 540-580, February.
  54. Daniel Rees, 2020. "What Comes Next?," BIS Working Papers 898, Bank for International Settlements.
  55. Eva F. Janssens & Robin L. Lumsdaine & Sebastiaan H.L.C.G. Vermeulen, 2022. "An Epidemiological Model of Economic Crisis Spread across Sectors in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(4), pages 885-919, June.
  56. Timo Boppart & Karl Harmenberg & John Hassler & Per Krusell & Jonna Olsson, 2025. "Integrated epi‐econ assessment: Quantitative theory," Quantitative Economics, Econometric Society, vol. 16(1), pages 89-131, January.
  57. E. Guglielminetti & M. Loberto & A. Mistretta, 2023. "The impact of COVID-19 on the European short-term rental market," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 50(3), pages 585-623, August.
  58. Juan J. Dolado & Florentino Felgueroso & Juan F. Jimeno, 2021. "Past, present and future of the Spanish labour market: when the pandemic meets the megatrends," Applied Economic Analysis, Emerald Group Publishing Limited, vol. 29(85), pages 21-41, January.
  59. Famiglietti, Matthew & Leibovici, Fernando, 2022. "The impact of health and economic policies on the spread of COVID-19 and economic activity," European Economic Review, Elsevier, vol. 144(C).
  60. Raül Santaeulàlia-Llopis, 2021. "Economic Activity and Public Health Policy: A Note," Working Papers 1284, Barcelona School of Economics.
  61. Gamber, William & Graham, James & Yadav, Anirudh, 2023. "Stuck at home: Housing demand during the COVID-19 pandemic," Journal of Housing Economics, Elsevier, vol. 59(PB).
  62. Todd Potts & Jennifer Roy, 2025. "The heterogeneous impact of uncertainty shocks on labour market outcomes for men and women," Applied Economics, Taylor & Francis Journals, vol. 57(50), pages 8327-8345, October.
  63. Hur, Sewon, 2022. "Comment on “COVID-19 in segmented societies” by Constantino Hevia, Manuel Macera, and Pablo Andrés Neumeyer," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
  64. Wei Cui & Jeffrey Hicks & Max Norton, 2022. "How well-targeted are payroll tax cuts as a response to COVID-19? evidence from China," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 29(5), pages 1321-1347, October.
  65. Juan‐Carlos Cordoba & Marla Ripoll & Siqiang Yang, 2024. "The Full Recession: Private Versus Social Costs Of Covid‐19," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 65(1), pages 547-582, February.
  66. Anna Houstecka & Dongya Koh & Raül Santaeulàlia-Llopis, 2020. "Contagion at Work," Working Papers 1225, Barcelona School of Economics.
  67. Timo Boppart & Karl Harmenberg & John Hassler & Per Krusell & Jonna Olsson, 2020. "Integrated epi-econ assessment," Edinburgh School of Economics Discussion Paper Series 297, Edinburgh School of Economics, University of Edinburgh.
  68. Lester C Hunt & Anqi Zhang & Shuonan Zhang, 2022. "Recession and Recovery of the Pandemic," Working Papers in Economics & Finance 2022-05, University of Portsmouth, Portsmouth Business School, Economics and Finance Subject Group.
  69. Tarek Alexander Hassan & Stephan Hollander & Laurence van Lent & Markus Schwedeler & Ahmed Tahoun, 2020. "Firm-Level Exposure to Epidemic Diseases: COVID-19, SARS, and H1N1," NBER Working Papers 26971, National Bureau of Economic Research, Inc.
  70. Gustavo Leyva & Carlos Urrutia, 2023. "Informal Labor Markets in Times of Pandemic," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 47, pages 158-185, January.
  71. Fernando Cirelli & Mark Gertler, 2022. "Economic Winners Versus Losers and the Unequal Pandemic Recession," NBER Working Papers 29713, National Bureau of Economic Research, Inc.
  72. Hevia, Constantino & Macera, Manuel & Neumeyer, Pablo Andrés, 2022. "Covid-19 in unequal societies," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
  73. Pizzinelli, Carlo & Shibata, Ippei, 2023. "Has COVID-19 induced labor market mismatch? Evidence from the US and the UK," Labour Economics, Elsevier, vol. 81(C).
  74. Bats, Joost & Greif, William & Kapp, Daniel, 2022. "The rise in the cross-sectoral dispersion of earnings expectations during COVID-19," Working Paper Series 2664, European Central Bank.
  75. Koetter, Michael & Nguyen, Huyen & Uzonwanne, Sochima, 2025. "Supply chain disruptions and firm outcomes," IWH Discussion Papers 3/2025, Halle Institute for Economic Research (IWH).
  76. Yinon Bar-On & Tatiana Baron & Ofer Cornfeld & Ron Milo & Eran Yashiv, 2020. "COVID19: Erroneous Modelling and Its Policy Implications," Discussion Papers 2030, Centre for Macroeconomics (CFM).
  77. C. A. K. Lovell, 2021. "The Pandemic, The Climate, and Productivity," CEPA Working Papers Series WP112021, School of Economics, University of Queensland, Australia.
  78. Christopher D. Carroll & Edmund Crawley & Jiri Slacalek & Matthew N. White, 2021. "Modeling the Consumption Response to the CARES Act," International Journal of Central Banking, International Journal of Central Banking, vol. 17(1), pages 107-141, March.
  79. Max Ole Liemen & Olaf Posch, 2022. "FTPL and the Maturity Structure of Government Debt in the New Keynesian Model," CESifo Working Paper Series 9840, CESifo.
  80. Kunal Dasgupta & Srinivasan Murali, 2024. "Pandemic containment and inequality in a developing economy," Economic Inquiry, Western Economic Association International, vol. 62(2), pages 837-864, April.
  81. Stefan Schiman & Atanas Pekanov, 2020. "Uncertainty in the Euro Area During the First Wave of the COVID-19 Pandemic," WIFO Studies, WIFO, number 66708.
  82. Shin-ichi Fukuda, 2022. "Self-fulfilling Lockdowns in a Simple SIR-Macro Model," CIRJE F-Series CIRJE-F-1183, CIRJE, Faculty of Economics, University of Tokyo.
  83. Almut Balleer & Sebastian Link & Manuel Menkhoff & Peter Zorn, 2024. "Demand or Supply? Price Adjustment Heterogeneity during the COVID-19 Pandemic," International Journal of Central Banking, International Journal of Central Banking, vol. 20(1), pages 93-157, February.
  84. Yuki SHIGETA, 2022. "A Continuous-Time Utility Maximization Problem with Borrowing Constraints in Macroeconomic Heterogeneous Agent Models:A Case of Regular Controls under Markov Chain Uncertainty," Discussion papers e-22-009, Graduate School of Economics , Kyoto University.
  85. Beppu, Shotaro & Fujii, Daisuke & Kubota, Hiroyuki & Machi, Kohei & Maeda, Yuta & Nakata, Taisuke & Shibuya, Haruki, 2023. "Cross-regional heterogeneity in health and economic outcomes during the COVID-19 pandemic: An analysis of Japan," Journal of the Japanese and International Economies, Elsevier, vol. 70(C).
  86. Leonardo Melosi & Matthias Rottner, 2023. "Pandemic Recessions and Contact Tracing," Journal of the European Economic Association, European Economic Association, vol. 21(6), pages 2485-2517.
  87. Bianchi, Francesco & Bianchi, Giada & Song, Dongho, 2023. "The long-term impact of the COVID-19 unemployment shock on life expectancy and mortality rates," Journal of Economic Dynamics and Control, Elsevier, vol. 146(C).
  88. Abbott, Brant & Phan, Nam Van, 2023. "Should wages be subsidized in a pandemic?," Macroeconomic Dynamics, Cambridge University Press, vol. 27(6), pages 1549-1580, September.
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  94. Jacek Rothert, 2021. "Optimal federal transfers during uncoordinated response to a pandemic," GRAPE Working Papers 58, GRAPE Group for Research in Applied Economics.
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  120. Filippin, Antonio & Mantovani, Marco, 2025. "Moral preferences over health-wealth trade-offs," Journal of Economic Behavior & Organization, Elsevier, vol. 235(C).
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  122. Lepetit, Antoine & Fuentes-Albero, Cristina, 2022. "The limited power of monetary policy in a pandemic," European Economic Review, Elsevier, vol. 147(C).
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  125. Enrique G. Mendoza & Eugenio Rojas & Linda L. Tesar & Jing Zhang, 2023. "A Macroeconomic Model of Healthcare Saturation, Inequality and the Output–Pandemia Trade-off," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(1), pages 243-299, March.
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