When to Release the Lockdown? A Wellbeing Framework for Analysing Costs and Benefits

Produced by: 
Institute for the Study of Labor (IZA)
Available from: 
April 2020
Paper author(s): 
Richard Layard
Daisy Fancourt
Andrew Clark
Nancy Hey
Jan-Emmanuel De Neve
Gus O’Donnell
Christian Krekel
Education - Health
Poverty - Inequality - Aid Effectiveness

It is politicians who have to decide when to release the lockdown, and in what way. In doing so, they have to balance many considerations (as with any decision). Often the different considerations appear incommensurable so that only the roughest of judgements can be made. For example, in the case of COVID-19, one has to compare the economic benefits of releasing the lockdown with the social and psychological benefits, and then compare the total of these with the increase in deaths that would result from an early exit. We here propose a way of doing this more systematically.


Research section: 
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