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Positive and Normative Issues of Economic Growth with Infectious Disease

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  • Doriana Delfino
  • Peter J. Simmons

Abstract

This paper uses a variant of the Lotka-Volterra system explaining the dynamic interaction between populations of infected and healthy individuals in which the demographic and epidemiological parameters (the net healthy birth rate, the death rate of the infected and the infection rate) are functions of economic variables and some simple economic growth models to examine deterministic growth paths of the system with an exogenous savings rate. Demographic-epidemiological parameters depend on productive capital which combined with healthy workers produces output. We find that there are generally multiple steady states. The system usually converges to a steady state in which the economy moderates the disease. If capital accumulation is set optimally to maximise welfare then there may be multiple steady states and optimal growth paths generally display four dimensional saddle point properties. Extensions of the framework to allow for density dependent infection, recovery from the disease and alternative social welfare functions are analysed.

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Bibliographic Info

Paper provided by Department of Economics, University of York in its series Discussion Papers with number 00/48.

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Handle: RePEc:yor:yorken:00/48

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Keywords: economic growth; infectious disease; dynamic optimal control.;

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  1. Léonard,Daniel & Long,Ngo van, 1992. "Optimal Control Theory and Static Optimization in Economics," Cambridge Books, Cambridge University Press, number 9780521337465, October.
  2. Dasgupta, Partha, 1974. "On some alternative criteria for justice between generations," Journal of Public Economics, Elsevier, vol. 3(4), pages 405-423, November.
  3. Luft, Harold S, 1975. "The Impact of Poor Health on Earnings," The Review of Economics and Statistics, MIT Press, vol. 57(1), pages 43-57, February.
  4. Grout, Paul A, 1982. "Welfare Economics of Decision Making with Changing Preferences," Review of Economic Studies, Wiley Blackwell, vol. 49(1), pages 83-90, January.
  5. Lee, Lung-Fei, 1982. "Health and Wage: A Simultaneous Equation Model with Multiple Discrete Indicators," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(1), pages 199-221, February.
  6. Bartel, Ann & Taubman, Paul, 1979. "Health and Labor Market Success: The Role of Various Diseases," The Review of Economics and Statistics, MIT Press, vol. 61(1), pages 1-8, February.
  7. Ettner, Susan L., 1996. "New evidence on the relationship between income and health," Journal of Health Economics, Elsevier, vol. 15(1), pages 67-85, February.
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Cited by:
  1. Aditya Goenka & Lin Liu, 2012. "Infectious diseases and endogenous fluctuations," Economic Theory, Springer, vol. 50(1), pages 125-149, May.
  2. Goenka, Aditya & Liu, Lin & Nguyen, Manh-Hung, 2014. "Infectious diseases and economic growth," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 34-53.

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