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The Economics of Viral Outbreaks

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  • Imran Rasul

Abstract

The frequency and complexity of viral outbreaks is increasing over time. The economic costs of outbreaks are severe; this is not only because of increased morbidity and mortality but also because viral outbreaks—representing aggregate health shocks—can severely restrict social interaction and economic exchange. Such aggregate health shocks lead to behavioral and prevalence responses along many margins. We describe some important response channels, discuss emerging empirical results on these margins from a nascent literature, and stress important avenues for future work.

Suggested Citation

  • Imran Rasul, 2020. "The Economics of Viral Outbreaks," AEA Papers and Proceedings, American Economic Association, vol. 110, pages 265-268, May.
    • Handle: RePEc:aea:apandp:v:110:y:2020:p:265-68
    DOI: 10.1257/pandp.20201016
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    Cited by:

    1. Manuel Arias-Maldonado, 2020. "COVID-19 as a Global Risk: Confronting the Ambivalences of a Socionatural Threat," Societies, MDPI, vol. 10(4), pages 1-18, November.
    2. van Bergeijk, P.A.G., 2021. "The political economy of the next pandemic," ISS Working Papers - General Series 678, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    3. Mendolia, Silvia & Stavrunova, Olena & Yerokhin, Oleg, 2021. "Determinants of the community mobility during the COVID-19 epidemic: The role of government regulations and information," Journal of Economic Behavior & Organization, Elsevier, vol. 184(C), pages 199-231.
    4. Aziz N. Berdiev & Rajeev K. Goel & James W. Saunoris, 2022. "Do disease epidemics force economic activity underground? International evidence," Contemporary Economic Policy, Western Economic Association International, vol. 40(2), pages 263-282, April.
    5. David E. Bloom & Michael Kuhn & Klaus Prettner, 2022. "Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses," Journal of Economic Literature, American Economic Association, vol. 60(1), pages 85-131, March.
    6. Hartung, Corinna & Veramendi, Gregory F. & Winter, Joachim, 2022. "The Dynamics of Behavioral Responses During a Crisis," Rationality and Competition Discussion Paper Series 333, CRC TRR 190 Rationality and Competition.
    7. Peter A.G. van Bergeijk, 2021. "Pandemic Economics," Books, Edward Elgar Publishing, number 20401.
    8. Ekhi Atutxa & Iñigo Calvo-Sotomayor & Teresa Laespada, 2021. "The Employment Ecosystem of Bizkaia as an Emerging Common in the Face of the Impact of COVID-19," Social Sciences, MDPI, vol. 10(11), pages 1-19, October.
    9. Bruno Carvalho & Susana Peralta & Joao Pereira dos Santos, 2020. "What and how did people buy during the Great Lockdown? Evidence from electronic payments," Working Papers ECARES 2020-20, ULB -- Universite Libre de Bruxelles.
    10. Syed Abul Basher & A. K. Enamul Haque, 2021. "Public policy lessons from the Covid-19 outbreak: How to deal with it in the post-pandemic world?," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 23(2), pages 234-247, September.
    11. Bruno P. Carvalho & Susana Peralta & João Pereira dos Santos, 2022. "Regional and sectorial impacts of the Covid‐19 crisis: Evidence from electronic payments," Journal of Regional Science, Wiley Blackwell, vol. 62(3), pages 757-798, June.
    12. Hernan Bejarano & Pedro Hancevic & Hector M. Nunez, 2021. "Impacto economico del COVID-19 en negocios pequenos y medianos bajo restricciones voluntarias e impuestas," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 18(2), pages 23-56, Julio-Dic.
    13. Muhammet Deveci & Raghunathan Krishankumar & Ilgin Gokasar & Rumeysa Tuna Deveci, 2023. "Prioritization of healthcare systems during pandemics using Cronbach’s measure based fuzzy WASPAS approach," Annals of Operations Research, Springer, vol. 328(1), pages 279-307, September.
    14. Muller, Seán M., 2021. "The dangers of performative scientism as the alternative to anti-scientific policymaking: A critical, preliminary assessment of South Africa’s Covid-19 response and its consequences," World Development, Elsevier, vol. 140(C).

    More about this item

    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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