H1N1 influenza in Australia and its macroeconomic effects
AbstractEarly 2009 saw the emergence of an H1N1 influenza epidemic in North America that spread to eventually become a global pandemic. Previous work has suggested that pandemics can have large macroeconomic effects on highly affected regions; here we estimate what those effects might be for Australia. Our analysis applies the MONASH-Health model: a quarterly computable general equilibrium model of the Australian economy. We simulate the effects of two H1N1 epidemics; the relatively mild 2009 outbreak and also a more severe episode. The analysis supports the assertion that an H1N1 epidemic could have significant short-run macroeconomic effects.
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Bibliographic InfoPaper provided by Monash University, Centre of Policy Studies/IMPACT Centre in its series Centre of Policy Studies/IMPACT Centre Working Papers with number g-212.
Date of creation: Dec 2010
Date of revision:
Publication status: Published in Journal of the Asia Pacific Economy, vol. 17, no. 1, 2012, pp. 22-51.
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Web page: http://www.monash.edu.au/policy/index.htm
More information through EDIRC
general equilibrium; H1N1 influenza; pandemics;
Find related papers by JEL classification:
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
- E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-03 (All new papers)
- NEP-CMP-2011-01-03 (Computational Economics)
- NEP-HEA-2011-01-03 (Health Economics)
- NEP-TUR-2011-01-03 (Tourism Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Marcus R. Keogh-Brown & Simon Wren-Lewis & W. John Edmunds & Philippe Beutels & Richard D. Smith, 2010.
"The possible macroeconomic impact on the UK of an influenza pandemic,"
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- Simon Wren-Lewis & Marcus Keogh-Brown, 2009. "The possible macroeconomic impact on the UK of an influenza pandemic," Economics Series Working Papers 431, University of Oxford, Department of Economics.
- Jong-Wha Lee & Warwick J. McKibbin, 2004.
"Globalization and Disease: The Case of SARS,"
Asian Economic Papers,
MIT Press, vol. 3(1), pages 113-131.
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