The Case for Reopening Economies by Sector

The greatest challenge we face in the current crisis is striking the right balance between preventing not only the damage inflicted by Covid-19 but also that which comes from a severe contraction of economic activity.

This is a matter of both life and death, and prosperity or poverty, as a deep recession is likely to cause widespread hardship, including increased mortality rates for reasons other than the virus. We must, therefore, find smart strategies for reopening businesses while minimizing health risks.

As economists, we have explored a variety of options:...