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Title: The effect of health and economic costs on governments' policy responses to COVID-19 crisis, under incomplete information
Author: Bel i Queralt, Germà, 1963-
Gasulla, Óscar
Mazaira-Font, Ferran
Keywords: COVID-19
Política governamental
Gestió de la crisi
Government policy
Crisis management
Issue Date: 2020
Publisher: Universitat de Barcelona. Facultat d'Economia i Empresa
Series/Report no: [WP E-IR20/08]
Abstract: COVID-19 outbreak has become an unprecedented health, economic and social crisis. We build a theoretical model, based on which we develop an empirical strategy to analyze the drivers of the agility of policy response to the outbreak. Our empirical results show that government overconfidence in its own country capacity of health services and the intensity of expected economic costs from hard measures to manage the crisis delayed policy response. Contrarily, being a game against nature with incomplete information, increased knowledge and reduced uncertainty on other countries’ policy responses and on the epidemic development increased the agility of the country’s policy response.
Note: Reproducció del document publicat a:
It is part of: IREA – Working Papers, 2020, IR20/08
Appears in Collections:Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))
Articles publicats en revistes (Institut d'lnvestigació Biomèdica de Bellvitge (IDIBELL))

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