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Modeling the Covid-19 Epidemic Using Time Series Econometrics

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  • Adam Golinski
  • Peter Spencer

Abstract

The classic "logistic" model has provided a realistic model of the behavior of Covid-19 in China and many East Asian countries. Once these countries passed the peak, the daily case count fell back, mirroring its initial climb in a symmetric way, just as the classic model predicts. However, in Italy and Spain, and now the UK and many other Western countries, the experience has been very different. The daily count has fallen back gradually from the peak but remained stubbornly high. The reason for the divergence from the classical model remain unclear. We take an empirical stance on this issue and develop a model that is based upon the statistical characteristics of the time series. With the possible exception of China, the workhorse logistic model is decisively rejected against more flexible alternatives

Suggested Citation

  • Adam Golinski & Peter Spencer, 2020. "Modeling the Covid-19 Epidemic Using Time Series Econometrics," Discussion Papers 20/06, Department of Economics, University of York.
    • Handle: RePEc:yor:yorken:20/06
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    References listed on IDEAS

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    1. Peter C. B. Phillips & Shuping Shi & Jun Yu, 2014. "Specification Sensitivity in Right-Tailed Unit Root Testing for Explosive Behaviour," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 76(3), pages 315-333, June.
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    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Modelling > Statistical Modelling

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    Cited by:

    1. Chénangnon Frédéric Tovissodé & Bruno Enagnon Lokonon & Romain Glèlè Kakaï, 2020. "On the use of growth models to understand epidemic outbreaks with application to COVID-19 data," PLOS ONE, Public Library of Science, vol. 15(10), pages 1-14, October.
    2. Girardi, Alessandro & Ventura, Marco, 2023. "The cost of waiting and the death toll in Italy during the first wave of the covid-19 pandemic," Health Policy, Elsevier, vol. 134(C).

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