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Social distancing in macroeconomic models

Author

Listed:
  • Yoseph Y. Getachew

Abstract

The paper introduces voluntary social distancing to the canonical epidemiology model, integrated into a conventional macroeconomic model. The model is extended to include treatment, vaccination, and government-enforced lockdown. Infection-averse individuals face a trade-off between a costly social distancing and the risk of getting infected and losing next-period labor income. We find an individual’s social distancing […]

Suggested Citation

  • Yoseph Y. Getachew, 2021. "Social distancing in macroeconomic models," Working Papers 844, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:844
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    File URL: https://econrsa.org/wp-content/uploads/2022/06/working_paper_844.pdf
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    Cited by:

    1. Christian Dreger & Daniel Gros, 2021. "Lockdowns and the US Unemployment Crisis," Economics of Disasters and Climate Change, Springer, vol. 5(3), pages 449-463, October.

    More about this item

    Keywords

    central bank; COVID-19; fiscal policy; lockdown; Macroeconomic Models; macroeconomics; Other Macroeconomic Variables;
    All these keywords.

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H0 - Public Economics - - General
    • I1 - Health, Education, and Welfare - - Health

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