The Case for Releasing the Young from Lockdown: A Briefing Paper for Policymakers

11 Pages Posted: 13 Apr 2020

See all articles by Andrew J. Oswald

Andrew J. Oswald

University of Warwick - Department of Economics; IZA Institute of Labor Economics

Nattavudh Powdthavee

University of Warwick

Abstract

The UK is 'locked down' because of coronavirus (COVID-19). No clear exit strategy currently exists. This paper suggests a possible way forward that combines elements from economics and epidemiology. The paper proposes as a policy a 'release' from lockdown of the young cohort of UK citizens aged between age 20 and 30 who do not live with parents. The paper calculates that there are approximately 4.2 million UK individuals who fall into this 20-30 ageband and who live outside the original parental home. Of those, 2.6 million work in the private sector, so unless some corrective action is taken they are likely to be extremely harshly affected, financially, when compared to employees in the public sector. The paper argues that a young-workforce release of this kind would lead to substantial economic and societal benefits without enormous health costs to the country. In this way, the nation might begin to move forward in the footsteps of the young. The paper's key concept could in principle be implemented in other countries.

Keywords: coronavirus, labor market, recession, COVID-19

JEL Classification: I18

Suggested Citation

Oswald, Andrew J. and Powdthavee, Nattavudh, The Case for Releasing the Young from Lockdown: A Briefing Paper for Policymakers. IZA Discussion Paper No. 13113, Available at SSRN: https://ssrn.com/abstract=3573283 or http://dx.doi.org/10.2139/ssrn.3573283

Andrew J. Oswald (Contact Author)

University of Warwick - Department of Economics ( email )

Coventry CV4 7AL
United Kingdom
523510 (Phone)

IZA Institute of Labor Economics

Schaumburg-Lippe-Str. 7 / 9
Bonn, D-53072
Germany

Nattavudh Powdthavee

University of Warwick ( email )

Gibbet Hill Rd.
Coventry, West Midlands CV4 8UW
United Kingdom
+44 (0)2476 528240 (Phone)

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