Friday, March 05, 2021

About those lockdowns …

… Assessing mandatory stay‐at‐home and business closure effects on the spread of COVID‐19.
While small benefits cannot be excluded, we do not find significant benefits on case growth of more restrictive NPIs. Similar reductions in case growth may be achievable with less‐restrictive interventions.

While I use Sweden to illustrate my point because it has been a focal point of the debate about restrictions, this exercise yields a similar conclusion almost everywhere else. The truth is that, from a cost-benefit perspective, Sweden’s much-decried strategy has been vastly superior to what most Western countries have done and it is not even close. Even if you think that it would have been better for Europe and the US to follow Australia and New Zealand’s example by adopting a so-called “zero COVID” strategy after the first wave, which would probably not have succeeded anyway even back then, this boat has already sailed and trying to pull it off now makes absolutely no sense from a cost-benefit perspective. Despite popular but confused arguments to the contrary, which I discuss at the end of this essay, this remains true even if you take into account the threat posed by new variants of SARS-CoV-2.

 


(Hat tip, Dave Lull.) 

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