The economics of epidemics and contagious diseases: An introduction

Boucekkine, Raouf; Carvajal, Andrés; Chakraborty, Shankha; Goenka, Aditya

doi:10.1016/j.jmateco.2021.102498

Cited by 34 publications

(41 citation statements)

References 64 publications

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“… 5 See, for example, Brauer and Castillo‐Chavez ( 2012 ) and Tang et al ( 2020 ) for overviews of the general compartment disease models, and Boucekkine et al ( 2021 ) for a review of the economics literature using compartment models to analyze disease progressions. …”

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confidence: 99%

A theory of voluntary testing and self‐isolation in an ongoing pandemic

Hellmann

Thiele

2022

J Public Economic Theory

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Beyond Covid‐19, there is a growing interest in what economic structures will be needed to face ongoing pandemics. In this paper, we focus on the diagnostic problem and examine a new paradigm of voluntary self‐testing by private individuals. We develop a dynamic model where individuals without symptoms face daily choices of either taking the risk of going out (to work and socialize), staying at home in self‐isolation, or using a test to verify whether they are infected before going out. Our central insight is that the equilibrium public infection risk falls when home‐based testing becomes cheaper and easier to use, even if they generate both false‐positive (type I error) and false‐negative (type II error) test outcomes. We also show that the presence of naïve individuals actually reduces the equilibrium infection risk in the economy. Overall our model shows that, even if inaccurate, home‐based tests are vital for an economy facing an ongoing pandemic.

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confidence: 99%

A theory of voluntary testing and self‐isolation in an ongoing pandemic

Hellmann

Thiele

2022

J Public Economic Theory

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“…g(y, i) = 0 intersects y-axis atŷ in the non-negative quadrant. Further, ∂g/∂i < 0 ⇒ ∃ī 4 ≤ 0 such thatī 4…”

Section: Equilibria and Local Stabilitymentioning

confidence: 99%

“…More recent contributions include [16,30]. Boucekkine et al [4] contains a comprehensive review of the recent literature. A line of recent literature also looks at the role played by imperfect information about the pandemic from the point of view of both the policymakers and households [12][13][14]14].…”

Section: Introductionmentioning

confidence: 99%

Non-pharmaceutical interventions in a generalized model of interactive dynamics between COVID-19 and the economy

Datta

Saratchand

2021

Nonlinear Dyn

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We use a simple general model of interactive dynamics between the COVID-19 pandemic and the economy to examine the impact of various nonpharmaceutical interventions in the form of restrictions on socio-economic activities like lockdowns, travel restrictions, etc. We mathematically demonstrate that these restrictions might be useful in preventing repeated waves of infection recurrence in the pandemic. These results are general and not dependent on choice of specific functional forms or parameter configurations. We set out briefly the implications of these results for public health interventions.

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“…Our paper contributes to the literature that combines epidemiology and economics to address various issues. The epidemiological framework that we use to model the planning problem is a continuous-time individual-based meanfield model which belongs to the class of theoretical approaches for epidemic modeling on undirected heterogeneous networks; Pastor-Satorras, Castellano, Van Mieghem, and Vespignani (2015) provide a review of these epidemiological models, and Boucekkine, Carvajal, Chakraborty, and Goenka (2021), Fajgelbaum et al (2021), Debnam Guzman, Mabeu, and, Pongou, Tchuente, and Tondji (2022a), Pongou et al (2022b), Nganmeni, Pongou, Tchantcho, andTondji (2022), and the references therein highlight the recent economic contributions to the COVID-19 pandemic. 6 Another contribution by Makris (2021) also extends the classical susceptible-infected-recovered (SIR) model by incorporating heterogeneity in infection-induced mortality rates at the population level.…”

Section: Introductionmentioning

confidence: 99%