Before revision:  This study examines how governments mitigate the economic losses when they are obliged to implement lockdowns , using supply-chain data for 1.6 million firms in Japan. We find that the coordinated, i.e., simultaneous, lockdowns have less GDP losses than the incoordinated lockdownsthrough the test of all combinations of two-region lockdowns .
After revision:  This study examines how governments mitigate the economic losses when they are obliged to implement lockdowns . Through tests of all combinations of two-region lockdowns, we find that coordinated, i.e., simultaneous, lockdowns have less GDP losses than the incoordinated lockdownsthrough the test of all combinations of two-region lockdowns .