A national mask mandate could potentially substitute for lockdowns to curb the spread of coronavirus, Goldman Sachs Chief Economist Jan Hatzius wrote in a Monday note.
Goldman’s baseline estimate is that a national mandate could raise the percentage of people who wear masks by 15 percentage points and cut the daily growth rate of confirmed cases by 1 percentage point to 0.6%.
That could save the US from a 5% hit to gross domestic product that could result from renewed lockdowns, according to Goldman Sachs.
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A national mask mandate could potentially slash coronavirus infections in the US and save the country from a 5% hit to its gross domestic product, according to Goldman Sachs.
In a Monday note, chief economist Jan Hatzius and his team investigated the link between wearing a mask and certain economic and health outcomes of COVID-19.
“We find that face masks are associated with significantly better coronavirus outcomes,” Hatzius wrote. Face mask use lowered infection growth rates and death rates, the team found. The causal relationship was not weakened when controlling for avoiding large gatherings or avoiding public interactions.
A national mandate would also “likely increase face mask usage meaningfully,” Goldman found. Goldman’s baseline estimate is that a national mandate could increase the percentage of people who wear masks by 15 percentage points, and cut the daily growth rate of confirmed cases by 1 percentage point to 0.6%.
“These calculations imply that a face mask mandate could potentially substitute for lockdowns that would otherwise subtract nearly 5% from GDP,” said Hatzius.
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Source:: Business Insider