SSRN (Lockdowns had small impact).
“How important was the economic lockdowns in the spring of 2020 in curbing the COVID-19 pan-demic and how important was the lockdown in comparison to voluntary changes in behavior? In the spring, the overall social response to the COVID-19 pandemic consisted of a mix of voluntary and government mandated behavior changes. Voluntary behavior changes occurred on the basis of information, such as the number of people infected, the number of COVID-19-deaths and on the basis of the signal value associated with the official lockdown combined with appeals to the population to change its behavior. Mandated behavior changes took place as a result of the ban-ning of certain activities deemed non-essential. Studies which differentiate between the two types of behavioral change find that, on average, mandated behavior changes accounts for only 9% (median: 0%) of the total effect on the growth of the pandemic stemming from behavioral changes. The remaining 91% (median: 100%) of the effect was due to voluntary behavior changes. This is excluding the effect of curfew and facemasks, which was not employed in all countries.”