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, on some subgroups of society, at first to the partial exclusion of others. 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 subsequent mortality rate exceeds some threshold value. Outside aid makes DT more attractive; but DT restricts support to fewer families initially and so increases inequality.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5714.
Date of creation: Jun 2006
Date of revision:
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Other versions of this item:
- Bell, Clive & Gersbach, Hans, 2009. "The macroeconomics of targeting: the case of an enduring epidemic," Journal of Health Economics, Elsevier, vol. 28(1), pages 54-72, January.
- 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).
- 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
This paper has been announced in the following NEP Reports:
- NEP-AFR-2006-10-28 (Africa)
- NEP-ALL-2006-10-28 (All new papers)
- NEP-HEA-2006-10-28 (Health Economics)
- NEP-MAC-2006-10-28 (Macroeconomics)
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