Impacts of Social Distancing Policy and Vaccination During the COVID-19 Pandemic in the Republic of Korea
The authors find that the social distancing policy is an effective tool for reducing the spread of COVID-19, but a trade-off between infection control and economic activity rises over time. Vaccination is found to significantly reduce the critical rate while visitors and consumption expenditures increase as vaccination rates improve. The results also show that the effect of social distancing policies varies by the initial level and by age.
- Literature Review
- Empirical Models