IDEAS home Printed from https://ideas.repec.org/a/gam/jijerp/v18y2021i18p9555-d632963.html
   My bibliography  Save this article

Deciphering the COVID-19 Health Economic Dilemma (HED): A Scoping Review

Author

Listed:
  • Arielle Kaim

    (Department of Emergency and Disaster Management, Faculty of Medicine, School of Public Health, Sackler Tel Aviv University, P.O. Box 39040, Tel Aviv 6139001, Israel
    Israel National Center for Trauma & Emergency Medicine Research, The Gertner Institute for Epidemiology and Health Policy Research, Sheba Medical Center, Ramat-Gan 5266202, Israel)

  • Tuvia Gering

    (Department of Emergency and Disaster Management, Faculty of Medicine, School of Public Health, Sackler Tel Aviv University, P.O. Box 39040, Tel Aviv 6139001, Israel)

  • Amiram Moshaiov

    (School of Mechanical Engineering, Iby and Aladar Fleischman Faculty of Engineering, Tel Aviv University, Tel Aviv 6997801, Israel)

  • Bruria Adini

    (Department of Emergency and Disaster Management, Faculty of Medicine, School of Public Health, Sackler Tel Aviv University, P.O. Box 39040, Tel Aviv 6139001, Israel)

Abstract

Lessons learnt from the initial stages of the COVID-19 outbreak indicate the need for a more coordinated economic and public health response. While social distancing has been shown to be effective as a non-pharmaceutical intervention (NPI) measure to mitigate the spread of COVID-19, the economic costs have been substantial. Insights combining epidemiological and economic data provide new theoretical predictions that can be used to better understand the health economy tradeoffs. This literature review aims to elucidate perspectives to assist policy implementation related to the management of the ongoing and impending outbreaks regarding the Health Economic Dilemma (HED). This review unveiled the need for information-based decision-support systems which will combine pandemic spread modelling and control, with economic models. It is expected that the current review will not only support policy makers but will also provide researchers on the development of related decision-support-systems with comprehensive information on the various aspects of the HED.

Suggested Citation

  • Arielle Kaim & Tuvia Gering & Amiram Moshaiov & Bruria Adini, 2021. "Deciphering the COVID-19 Health Economic Dilemma (HED): A Scoping Review," IJERPH, MDPI, vol. 18(18), pages 1-13, September.
    • Handle: RePEc:gam:jijerp:v:18:y:2021:i:18:p:9555-:d:632963
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1660-4601/18/18/9555/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1660-4601/18/18/9555/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Desierto, Desiree & Koyama, Mark, 2020. "Health vs. Economy: Politically Optimal Pandemic Policy," Journal of Political Institutions and Political Economy, now publishers, vol. 1(4), pages 645-669, November.
    2. Yousefpour, Amin & Jahanshahi, Hadi & Bekiros, Stelios, 2020. "Optimal policies for control of the novel coronavirus disease (COVID-19) outbreak," Chaos, Solitons & Fractals, Elsevier, vol. 136(C).
    3. Andy Sumner & Christopher Hoy & Eduardo Ortiz-Juarez, 2020. "Estimates of the impact of COVID-19 on global poverty," WIDER Working Paper Series wp-2020-43, World Institute for Development Economic Research (UNU-WIDER).
    4. World Bank, "undated". "The Economy in the Time of Covid-19 [La Economía en los Tiempos del Covid-19]," World Bank Publications - Reports 33555, The World Bank Group.
    5. Abba AHmed, Bello, 2020. "Impact of Covid-19 Pandemic on Global Economy," MPRA Paper 103753, University Library of Munich, Germany.
    6. Zhixian Lin & Christopher M. Meissner, 2020. "Health vs. Wealth? Public Health Policies and the Economy During Covid-19," NBER Working Papers 27099, National Bureau of Economic Research, Inc.
    7. Ashraf, Badar Nadeem, 2020. "Economic impact of government interventions during the COVID-19 pandemic: International evidence from financial markets," Journal of Behavioral and Experimental Finance, Elsevier, vol. 27(C).
    8. Caspar Chorus & Erlend Dancke Sandorf & Niek Mouter, 2020. "Diabolical dilemmas of COVID-19: An empirical study into Dutch society’s trade-offs between health impacts and other effects of the lockdown," PLOS ONE, Public Library of Science, vol. 15(9), pages 1-19, September.
    9. Anish Agarwal & Abdullah Alomar & Arnab Sarker & Devavrat Shah & Dennis Shen & Cindy Yang, 2020. "Two Burning Questions on COVID-19: Did shutting down the economy help? Can we (partially) reopen the economy without risking the second wave?," Papers 2005.00072, arXiv.org, revised May 2020.
    10. Adam Brzezinski & David Van Dijcke & Valentin Kecht, 2020. "The Cost of Staying Open: Voluntary Social Distancing and Lockdowns in the US," Economics Series Working Papers 910, University of Oxford, Department of Economics.
    11. Barua, Suborna, 2020. "Understanding Coronanomics: The economic implications of the coronavirus (COVID-19) pandemic," MPRA Paper 99693, University Library of Munich, Germany.
    12. Miles, David & Stedman, Mike & Heald, Adrian, 2020. "Living With Covid-19: Balancing Costs Against Benefits In The Face Of The Virus," National Institute Economic Review, National Institute of Economic and Social Research, vol. 253, pages 60-76, August.
    13. repec:ocp:ppaper:pb20-58 is not listed on IDEAS
    14. David Gershon & Alexander Lipton & Hagai Levine, 2020. "Managing COVID-19 Pandemic without Destructing the Economy," Papers 2004.10324, arXiv.org, revised May 2020.
    15. Jelena Musulin & Sandi Baressi Šegota & Daniel Štifanić & Ivan Lorencin & Nikola Anđelić & Tijana Šušteršič & Anđela Blagojević & Nenad Filipović & Tomislav Ćabov & Elitza Markova-Car, 2021. "Application of Artificial Intelligence-Based Regression Methods in the Problem of COVID-19 Spread Prediction: A Systematic Review," IJERPH, MDPI, vol. 18(8), pages 1-39, April.
    16. Mishra, Mukesh Kumar, 2020. "The World after COVID-19 and its impact on Global Economy," EconStor Preprints 215931, ZBW - Leibniz Information Centre for Economics.
    17. Asger Lau Andersen & Emil Toft Hansen & Niels Johannesen & Adam Sheridan, 2020. "Pandemic, Shutdown and Consumer Spending: Lessons from Scandinavian Policy Responses to COVID-19," Papers 2005.04630, arXiv.org.
    18. Robert Rowthorn & Jan Maciejowski, 2020. "A cost–benefit analysis of the COVID-19 disease," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 36(Supplemen), pages 38-55.
    19. Sharif, Arshian & Aloui, Chaker & Yarovaya, Larisa, 2020. "COVID-19 pandemic, oil prices, stock market, geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the wavelet-based approach," International Review of Financial Analysis, Elsevier, vol. 70(C).
    20. Muhammad Fahad Sattar & Sehrish Khanum & Ahsan Nawaz & Muhammad Muzamal Ashfaq & Muhammad Anas Khan & Muhammad Jawad & Waseem Ullah, 2020. "Covid-19 Global, Pandemic impact on World Economy," Technium Social Sciences Journal, Technium Science, vol. 11(1), pages 165-179, September.
    21. François Vaillancourt, 2020. "COVID-19 and the Health Policy Recession: Whatever it Takes, Grandma or the Economy or What Makes Sense?," CIRANO Papers 2020pe-01, CIRANO.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bin Yang & Naipeng Chao & Cheng-Jun Wang, 2023. "A solid camp with flowing soldiers: heterogeneous public engagement with science communication on Twitter," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-12, December.
    2. Xingtian Chen & Wei Gong & Xiaoxu Wu & Wenwu Zhao, 2021. "Estimating Economic Losses Caused by COVID-19 under Multiple Control Measure Scenarios with a Coupled Infectious Disease—Economic Model: A Case Study in Wuhan, China," IJERPH, MDPI, vol. 18(22), pages 1-19, November.
    3. Moran Bodas & Bruria Adini & Eli Jaffe & Arielle Kaim & Kobi Peleg, 2022. "Lockdown Efficacy in Controlling the Spread of COVID-19 May Be Waning Due to Decline in Public Compliance, Especially among Unvaccinated Individuals: A Cross-Sectional Study in Israel," IJERPH, MDPI, vol. 19(9), pages 1-11, April.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nano Prawoto & Eko Priyo Purnomo & Abitassha Az Zahra, 2020. "The Impacts of Covid-19 Pandemic on Socio-Economic Mobility in Indonesia," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 57-71.
    2. Tsai, I-Chun & Chiang, Ying-Hui & Lin, Shih-Yuan, 2022. "Effect of COVID-19 lockdowns on city-center and suburban housing markets: Evidence from Hangzhou, China," Journal of Asian Economics, Elsevier, vol. 83(C).
    3. Simionescu, Mihaela & Raišienė, Agota Giedrė, 2021. "A bridge between sentiment indicators: What does Google Trends tell us about COVID-19 pandemic and employment expectations in the EU new member states?," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    4. Brum, Matias & De Rosa, Mauricio, 2021. "Too little but not too late: nowcasting poverty and cash transfers’ incidence during COVID-19’s crisis," World Development, Elsevier, vol. 140(C).
    5. Matías Brum & Mauricio de Rosa, 2020. "Too little but not too late. Nowcasting poverty and cash transfers' incidence in Uruguay during COVID-19's crisis," Documentos de Trabajo (working papers) 20-09, Instituto de Economía - IECON.
    6. Afees A. Salisu & Abdulsalam Abidemi Sikiru & Philip C. Omoke, 2023. "COVID-19 pandemic and financial innovations," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(4), pages 3885-3904, August.
    7. Bai, Chenjiang & Duan, Yuejiao & Liu, Congya & Qiu, Leiju, 2022. "International taxation sentiment and COVID-19 crisis," Research in International Business and Finance, Elsevier, vol. 63(C).
    8. Katarzyna Czech & Michał Wielechowski & Pavel Kotyza & Irena Benešová & Adriana Laputková, 2020. "Shaking Stability: COVID-19 Impact on the Visegrad Group Countries’ Financial Markets," Sustainability, MDPI, vol. 12(15), pages 1-19, August.
    9. Kai Fischer & J. James Reade & W. Benedikt Schmal, 2021. "The Long Shadow of an Infection: COVID-19 and Performance at Work," Economics Discussion Papers em-dp2021-17, Department of Economics, University of Reading.
    10. Elgammal, Mohammed M. & Ahmed, Walid M.A. & Alshami, Abdullah, 2021. "Price and volatility spillovers between global equity, gold, and energy markets prior to and during the COVID-19 pandemic," Resources Policy, Elsevier, vol. 74(C).
    11. Elnahass, Marwa & Trinh, Vu Quang & Li, Teng, 2021. "Global banking stability in the shadow of Covid-19 outbreak," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
    12. Bora Aktan, 2022. "Emerging equity market reaction to pandemic prevention policy: Evidence from regression discontinuity design," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 40(2), pages 421-439.
    13. Aviad Tur-Sinai & Netta Bentur & Paolo Fabbietti & Giovanni Lamura, 2021. "Impact of the Outbreak of the COVID-19 Pandemic on Formal and Informal Care of Community-Dwelling Older Adults: Cross-National Clustering of Empirical Evidence from 23 Countries," Sustainability, MDPI, vol. 13(13), pages 1-13, June.
    14. Roee Sarel, 2022. "Crime and punishment in times of pandemics," European Journal of Law and Economics, Springer, vol. 54(2), pages 155-186, October.
    15. Guven, Murat & Cetinguc, Basak & Guloglu, Bulent & Calisir, Fethi, 2022. "The effects of daily growth in COVID-19 deaths, cases, and governments’ response policies on stock markets of emerging economies," Research in International Business and Finance, Elsevier, vol. 61(C).
    16. Katarzyna Czech & Michał Wielechowski, 2021. "Is the Alternative Energy Sector COVID-19 Resistant? Comparison with the Conventional Energy Sector: Markov-Switching Model Analysis of Stock Market Indices of Energy Companies," Energies, MDPI, vol. 14(4), pages 1-17, February.
    17. Chrys Esseau-Thomas & Omar Galarraga & Sherif Khalifa, 2022. "Epidemics, pandemics and income inequality," Health Economics Review, Springer, vol. 12(1), pages 1-15, December.
    18. Cakici, Nusret & Zaremba, Adam, 2021. "Who should be afraid of infections? Pandemic exposure and the cross-section of stock returns," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 72(C).
    19. Szczygielski, Jan Jakub & Charteris, Ailie & Bwanya, Princess Rutendo & Brzeszczyński, Janusz, 2022. "The impact and role of COVID-19 uncertainty: A global industry analysis," International Review of Financial Analysis, Elsevier, vol. 80(C).
    20. Kudaisi, Bosede Victoria & Olomola, P.A., 2021. "Impact of COVID-19 Pandemic Lockdown on Food Intake in Nigeria," African Journal of Economic Review, African Journal of Economic Review, vol. 9(3), June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijerp:v:18:y:2021:i:18:p:9555-:d:632963. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.