@TechReport{iza:izadps:dp14202,
            	author={Bar-On, Yinon and Baron, Tatiana and Cornfeld, Ofer and Milo, Ron and Yashiv, Eran},
            	title={COVID-19: Erroneous Modelling and Its Policy Implications},
            	year={2021},
	month={Mar},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={14202},
            	url={https://www.iza.org/publications/dp14202},
	abstract={Research in Economics on COVID-19 posits an economy subject to disease dynamics, which are often seriously misspecified in terms of speed and scale. Using a social planner problem, we show that such misspecifications lead to misguided policy. Erroneously characterizing a relatively slow-moving disease engenders dramatically higher death tolls and excessive output loss relative to the correct benchmark. We delineate the latter, employing epidemiological evidence on the timescales of COVID-19 transmission and clinical progression. The resulting sound model is simple, transparent, and novel in Economics.},
	keywords={optimal policy;public health;GDP loss;COVID-19;disease dynamics and scale;misspecification},
            }