Economic Policy Principles for Lockdown Emergence

Israel's current efforts to curb the COVID-19 pandemic are based on a policy of "full distancing", since short-term health considerations are prioritized over all other considerations, even though it is impossible to predict how long this lockdown policy should be maintained, and despite the severe economic and social damages involved. Thus, there is a pressing need for a policy based on a cost-benefit analysis, taking into consideration social and economic aspects for both the short and the long terms. Such a policy of "smart distancing" would aim primarily to reopen the economy in order to minimize the damage to the GDP, while managing the health risks involved.

This policy will strike a finer balance between the various factors which need to be considered during a crisis and will provide the economy with the breathing space required to contain the pandemic, without causing irreversible damages. It combines obtaining maximum medical information on individuals with a use of monitoring and selective lockdowns to prevent contagion, and is based on the following principles:

1. providing transparent information to the general public.
2. fully disclosed information regarding health situation of individuals.
3. differentiated lockdowns exempting low-risk regions, age groups and industries, given high-quality information on the extent of contagion.