The way out of lockdowns should be gradual and systematic, according to economists Governments across the world are faced with the dilemma of choosing between two extremes, or what economist Tyler Cowen calls the ‘epidemic yo-yo’ following the covid-19 outbreak.
On the one hand, letting people build immunity reduces commercial and economic losses but burdens health facilities. On the other, imposing strict lockdowns for long may lead us into a prolonged recession and create profound mental health problems.
The way out of lockdowns should be gradual and systematic, according to economists. In a VoxEU article, economists Andrea Ichino and co-authors lay down the steps needed to transition into normal life without immediately burdening the