Economic Policies and Health Outcomes under Covid-19
A Microsimulation Analysis

Erol Taymaz
Department of Economics, Middle East Technical University
Ankara Turkey

18th International Schumpeter Conference / 08-10 July 2021

Covid-19: Health or economy?

“President Donald Trump fixed his course on reopening the nation for business, acknowledging that the move would cause more illness and death from the pandemic but insisting it’s a cost he’s willing to pay to get the economy back on track.”
Source: Bloomberg, 6 Mayıs 2020


Microsimulation model

Covid-19 measures

Economic effects of Covid-19 measures

Short run

Economic effects of Covid-19 measures

Long term

Health vs economics

Economic effect: Level x Duration (-) Health effect: Level x Duration (+)



United States