Table 1. Parameters used in the simulations.

These are based on those used in published studies (23–26).

Variable	Value
SEIR
μ	1/70	Birth and death rate
μI1	0.02	Death rate of I1
μR	1/70	Death rate of R
μE	0.012	Death rate of E2
pM	1/3	Probability of death of an individual during severe infection
γ	0.05	Proportional contribution to infection of E2 and I
ϕ	1/2	Transition rate from R to S
ϕ1	365/5	Transition rate from E1 to E2
ϕ2	365/5	Transition rate from E2 to I
δ	365/18	Transition rate from C to S
δ1	365/18	Duration−1 of I1
δ2	365/13	Duration−1 of I2
β	150.00	Per capita transmission rate
η	0.15	Hospitalization fraction during infection period
Testing
c	Variable > 0	Number of contacts per infection generated (E2 and I1)
sp	0.90	Specificity of test
se	0.90	Sensitivity of test
τ	365/12	Default testing rate
τmax	365/2	Maximum testing capacity for a developed country
r	0 or 1	Contact or random testing respectively
testCost	50,00	Cost for one test in dollars
yearly US GDP	21.5 T	Yearly U.S. total GDP in 2019 in dollars
Y 0	A0Nα	Yearly model total GDP with no disease spread
ρ0	$Y_0\frac{\mathrm{testCost}}{\text{yearly US GDP}}$	Cost for one test in model units
ρ1	0.1	Testing cost parameter
N	1 × 105	Total number of individuals
Production
A 0	1 × 105	(Capital-adjusted) Total factor productivity
α	2/3	Curvature of production function
∆	1/5	Short-run elasticity of capital utilization
ϵC	0.8	Work efficiency of C-class (fraction of contacts that work and do so under isolation)
Utility parameters
σ	1/2	Curvature of utility from consumption
ω	3	Curvature of disutility from deaths
θ	1 × 10−4	Weight of utility from consumption versus disutility from deaths