Vaccination, treatment and containment policy to reduce the effects of the COVID‐19 pandemic in Morocco

Abstract

Abstract This paper presents a susceptible–exposed–infected–quarantined–removed (SEIQR) dynamic stochastic general equilibrium model to evaluate the macroeconomic effects of the current COVID‐19 pandemic. The SEIQR configuration setting is calibrated using COVID‐19 data from Morocco. Using the model, we demonstrate how the pandemic might lead to declining consumption and productivity. We illustrate that a combination of quarantine policy, vaccination and treatment of the uninfected person is more successful than using only one of the policies. The combination lowered the number of infected, exposed and quarantined people. We also assessed the economic effects of multiple strategies.