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Tractable Epidemiological Models for Economic Analysis

Author

Listed:
  • Martín Gonzalez-Eiras
  • Dirk Niepelt

Abstract

We contrast the canonical epidemiological SIR model due to Kermack and McKendrick (1927) with more tractable alternatives that offer similar degrees of “realism” and exibility. We provide results connecting the different models which can be exploited for calibration purposes. We use the expected spread of Covid-19 in the United States to exemplify our results.

Suggested Citation

  • Martín Gonzalez-Eiras & Dirk Niepelt, 2020. "Tractable Epidemiological Models for Economic Analysis," CESifo Working Paper Series 8342, CESifo.
    • Handle: RePEc:ces:ceswps:_8342
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    References listed on IDEAS

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    1. Martin S Eichenbaum & Sergio Rebelo & Mathias Trabandt, 2021. "The Macroeconomics of Epidemics [Economic activity and the spread of viral diseases: Evidence from high frequency data]," The Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5149-5187.
    2. Gonzalez-Eiras, Martin & Niepelt, Dirk, 2020. "On the Optimal "Lockdown" During an Epidemic," CEPR Discussion Papers 14612, C.E.P.R. Discussion Papers.
    3. Andrew Atkeson, 2020. "What Will be the Economic Impact of COVID-19 in the US? Rough Estimates of Disease Scenarios," Staff Report 595, Federal Reserve Bank of Minneapolis.
    4. Fernando Alvarez & David Argente & Francesco Lippi, 2020. "A Simple Planning Problem forCOVID-19 Lockdown," EIEF Working Papers Series 2005, Einaudi Institute for Economics and Finance (EIEF), revised Mar 2020.
    5. repec:aei:rpaper:1008561701 is not listed on IDEAS
    6. Daron Acemoglu & Victor Chernozhukov & Ivàn Werning & Michael D. Whinston, 2020. "A Multi-Risk SIR Model with Optimally Targeted Lockdown," CeMMAP working papers CWP14/20, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
    7. Michael Greenstone & Vishan Nigam, 2020. "Does Social Distancing Matter?," Working Papers 2020-26, Becker Friedman Institute for Research In Economics.
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    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Modelling

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    Cited by:

    1. Gonzalez-Eiras, Martín & Niepelt, Dirk, 2022. "The political economy of early COVID-19 interventions in US states," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
    2. Martín Gonzalez-Eiras & Dirk Niepelt, 2020. "Optimally Controlling an Epidemic," CESifo Working Paper Series 8770, CESifo.
    3. Peter A.G. van Bergeijk, 2021. "Pandemic Economics," Books, Edward Elgar Publishing, number 20401, August.
    4. Mart n Gonzales-Eiras, Dirk Niepelt, 2023. "Optimal Epidemic Control," Diskussionsschriften dp2311, Universitaet Bern, Departement Volkswirtschaft.

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    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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