A new economic model to measure the impact of COVID-19 lockdown policies has been developed by members of the QED and Limestone Analytics including Professors Huw Lloyd-Ellis, Christopher Cotton, and Bahman Kashi, along with Ph.D. candidate Frederic Temblay and researcher Brett Crowley.
The model captures the interconnections between different industries and communities within Canada to project how restrictions on production or economic activity in one area spills over throughout the economy. The model can provide short-to-medium term projections, allowing policy makers to explore the economic costs to different communities or regions under alternative policy scenarios.
The model was applied by Limestone Analytics and Local Intel to develop an Economic Impact Explorer to provide local and provincial policymakers access to the model’s projections.
Read the Queen’s Gazette article: https://www.queensu.ca/gazette/stories/examining-covid-19-s-economic-impact-ontario
Explore the Eastern Ontario Leadership Council’s COVID-19 dashboard based on the model’s projections. http://www.eolc.info/en/working-groups-and-projects/covid-19-economic-modelling.aspx
For more information on the economic model, please see the academic working paper.