The macroeconomics of targeting: the case of an enduring epidemic
AbstractWhat is the right balance among policy interventions in order to ensure economic growth over the long run when an epidemic causes heavy mortality among young adults? We argue that, in general, policies to combat the disease and promote education must be concentrated, in certain ways, at first on some subgroups of society. This concentration involves what we term the macroeconomics of targeting. The central comparison is then between programs under which supported families enjoy the benefits of spending on health and education simultaneously (DT), and those under which the benefits in these two domains are sequenced (ST). When levels of human capital are uniformly low at the outbreak, DT is superior to ST if the mortality rate exceeds some threshold value. Outside aid makes DT more attractive; but DT restricts support to fewer families initially and so increases inequality. A summary account of the empirical evidence is followed by an application of the framework to South Africa.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Health Economics.
Volume (Year): 28 (2009)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/505560
Epidemic diseases; HIV/AIDS; Macroeconomics of targeting; Education support; Health policies;
Other versions of this item:
- Bell, Clive & Gersbach, Hans, 2006. "The Macroeconomics of Targeting: The Case of an Enduring Epidemic," IZA Discussion Papers 2393, Institute for the Study of Labor (IZA).
- Bell, Clive & Gersbach, Hans, 2006. "The Macroeconomics of Targeting: The Case of an Enduring Epidemic," CEPR Discussion Papers 5714, C.E.P.R. Discussion Papers.
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- I10 - Health, Education, and Welfare - - Health - - - General
- I20 - Health, Education, and Welfare - - Education - - - General
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
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