Epi-Economic Modelling of Covid-19: Policy Implications for Australia
Date5 August 2020
Quentin Grafton FASSA is an Australian Laureate Fellow and Professor of Economics at the Crawford School of Public Policy, the ANU. He is a former editor of the Australian Journal of Agricultural & Resource Economics, former President of AARES and is also an AARES Distinguished Fellow.
Tom Kompas FASSA is a Professor of Economics, the Foundation Director of the Australian Centre for Biosecurity and Environmental Economics (ACBEE0 and one of four Chief Investigators in the Centre of Excellence for Biosecurity Risk Analysis (CEBRA) at the University of Melbourne.He is a former editor of the Australian Journal of Agricultural & Resource Economics and is an AARES Distinguished Fellow.
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The presentation highlights recent epidemiological-economic modelling of COVID-19 in Australia undertaken by the presenters with co-authors. The model results provide important policy insights about how to respond to the pandemic in terms of both public health and the economy. While the results are from Australia, based on data until early July 2020, the results are of general interest to any high-income country. Our findings are that a 'go hard, go early' response in terms of both a lock-down and also testing and contact tracing are a preferred strategy that dominate alternatives such as 'controlled adaptation' or the 'Swedish Model'.