Callaway Brantly, Li Tong
Department of Economics. University of Georgia, USA.
Department of Economics. Vanderbilt University, USA.
J Econom. 2023 Sep;236(1):105454. doi: 10.1016/j.jeconom.2023.03.009. Epub 2023 Jun 17.
National and local governments have implemented a large number of policies in response to the Covid-19 pandemic. Evaluating the effects of these policies, both on the number of Covid-19 cases as well as on other economic outcomes is a key ingredient for policymakers to be able to determine which policies are most effective as well as the relative costs and benefits of particular policies. In this paper, we consider the relative merits of common identification strategies that exploit variation in the timing of policies across different locations by checking whether the identification strategies are compatible with leading epidemic models in the epidemiology literature. We argue that unconfoundedness type approaches, that condition on the pre-treatment "state" of the pandemic, are likely to be more useful for evaluating policies than difference-in-differences type approaches due to the highly nonlinear spread of cases during a pandemic. For difference-in-differences, we further show that a version of this problem continues to exist even when one is interested in understanding the effect of a policy on other economic outcomes when those outcomes also depend on the number of Covid-19 cases. We propose alternative approaches that are able to circumvent these issues. We apply our proposed approach to study the effect of state level shelter-in-place orders early in the pandemic.
国家和地方政府已针对新冠疫情实施了大量政策。评估这些政策对新冠病例数量以及其他经济成果的影响,是政策制定者能够确定哪些政策最有效以及特定政策的相对成本和收益的关键因素。在本文中,我们通过检查识别策略是否与流行病学文献中的主要流行模型兼容,来考虑利用不同地点政策实施时间差异的常见识别策略的相对优点。我们认为,由于疫情期间病例传播高度非线性,基于疫情治疗前“状态”的无混杂类型方法可能比差分类型方法更有助于评估政策。对于差分方法,我们进一步表明,即使当人们有兴趣了解政策对其他经济成果的影响(而这些成果也取决于新冠病例数量)时,这个问题的一个版本仍然存在。我们提出了能够规避这些问题的替代方法。我们应用我们提出的方法来研究疫情早期州一级就地避难令的影响。