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Welfare analysis of HIV/AIDS: Formulating and computing a continuous time overlapping generations policy model

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  • Jamsheed Shorish

Abstract

We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. The model has the notable feature that the underlying state space is a continuum, leading to a Hamilton-Jacobi-Bellman PDE system which is defined over a Hilbert space generated by the ages of the population cohorts. In this technical report the dynamic programming problem is presented and the numerical approximation using a finite difference approximation is derived. This analysis is part of a larger research program on welfare analysis and policy development for the HIV/AIDS global pandemic.

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Paper provided by Economics, The University of Manchester in its series The School of Economics Discussion Paper Series with number 0709.

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Date of creation: 2007
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Handle: RePEc:man:sespap:0709

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Web page: http://www.socialsciences.manchester.ac.uk/subjects/economics/
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  1. Emily Oster, 2005. "Sexually Transmitted Infections, Sexual Behavior, and the HIV/AIDS Epidemic," The Quarterly Journal of Economics, MIT Press, vol. 120(2), pages 467-515, May.
  2. Robalino, David A. & Jenkins, Carol & El Maroufi, Karim, 2002. "Risks and macroeconomic impacts of HIV/AIDS in the Middle East and North Africa : why waiting to intervene can be costly," Policy Research Working Paper Series 2874, The World Bank.
  3. Scott McDonald & Jennifer Roberts, 2004. "Aids and Economic Growth: A Human Capital Approach," Working Papers 2004008, The University of Sheffield, Department of Economics, revised Aug 2004.
  4. Lloyd, P J, 1991. "Aids: An Economic Approach to the Choice of Policies," The Economic Record, The Economic Society of Australia, vol. 67(197), pages 126-38, June.
  5. Simon Dixon & Scott McDonald & Jennifer Roberts, 2001. "HIV|AIDS and development in Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(4), pages 381-389.
  6. Jeff DeSimone & Edward J. Schumacher, 2004. "Compensating Wage Differentials and AIDS Risk," NBER Working Papers 10861, National Bureau of Economic Research, Inc.
  7. Silvia Faggian & Fausto Gozzi, 2004. "On The Dynamic Programming Approach For Optimal Control Problems Of Pde'S With Age Structure," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 233-270.
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