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The Covid-19 lesson...
The Covid-19 lesson from Sweden: Don't lock down
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- Andersson, Fredrik N G (author)
- Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,LU profilområde: Naturbaserade framtidslösningar,Lunds universitets profilområden,Department of Economics,Lund University School of Economics and Management, LUSEM,LU Profile Area: Nature-based future solutions,Lund University Profile areas
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- Jonung, Lars (author)
- Lund University,Lunds universitet,Nationalekonomiska institutionen,Ekonomihögskolan,Department of Economics,Lund University School of Economics and Management, LUSEM
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(creator_code:org_t)
- English.
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In: Economic Affairs. - 1468-0270. ; , s. 1-14
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Abstract
Subject headings
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- Covid-19 triggered a wave of lockdowns across the world, contributing to a severe downturn in economic activity. Governments responded by introducing expansionary fiscal and monetary measures. We compare the health and economic outcomes in Sweden, commonly viewed as an outlier relying more on recommendations and voluntary adjustments than on strict lockdowns, with those of comparable European OECD countries. Our results suggest that the Swedish policy of advice and trust in the population to reduce social interactions voluntarily was relatively successful. Sweden combined low excess death rates with relatively small economic costs. In future pandemics, policymakers should rely on empirical evidence rather than panicking and adopting extreme measures. Even if policymakers appeared to act rapidly and decisively, the rushed implementation of strict lockdowns in 2020/21 probably did more harm than good.
- Covid-19 triggered a wave of lockdowns across the world, contributing to a severe downturn in economic activity. Governments responded by introducing expansionary fiscal and monetary measures. We compare the health and economic outcomes in Sweden, commonly viewed as an outlier relying more on recommendations and voluntary adjustments than on strict lockdowns, with those of comparable European OECD countries. Our results suggest that the Swedish policy of advice and trust in the population to reduce social interactions voluntarily was relatively successful. Sweden combined low excess death rates with relatively small economic costs. In future pandemics, policymakers should rely on empirical evidence rather than panicking and adopting extreme measures. Even if policymakers appeared to act rapidly and decisively, the rushed implementation of strict lockdowns in 2020/21 probably did more harm than good.
Subject headings
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Keyword
- covid19
- pandemic
- econmic crisis
- excess mortality
- fiscal policy
- lockdowns
- monetary policy
- public debt
Publication and Content Type
- art (subject category)
- ref (subject category)
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