Optimal Lockdown Policy for Vaccination during COVID-19 Pandemic.

Author: 

Fu, Y
Jin, H
Xiang, H
Wang, N

Publication Date: 

14 May 2021

Journal: 

Finance research letters

Last Updated: 

2021-08-29T12:54:39.817+01:00

DOI: 

10.1016/j.frl.2021.102123

page: 

102123-

abstract: 

As the COVID-19 spreads across the world, many nations impose lockdown measures at the early stage of the pandemic to prevent the spread of the disease. Controversy surrounds the lockdown as it is a choice between economic freedom and public health. The ultimate solution to a pandemic is to vaccinate a massive population to achieve herd immunity. However, the whole vaccination programme is a long and complicated process. The virus and the vaccine will persist for quite a long time. How to gradually ease the lockdown based on vaccination progress is an important issue, as both economic and epidemiological issues are involved. In this paper, we extend the classic SIR model to find optimal decision making to balance between economy and public health in the process of vaccination rollout. The model provides an approach of vaccine value estimation. Our results provide scientific suggestion for policymakers to make important decisions about when to start the lockdown and how strong it should be over the entire vaccination cycle.

Symplectic id: 

1178949

Submitted to ORA: 

Not Submitted

Publication Type: 

Journal Article