H1N1 influenza in Australia and its macroeconomic effects
Early 2009 saw the emergence of an H1N1 influenza epidemic in North America that spread to eventually become a global pandemic. Previous work has suggested that pandemics can have large macroeconomic effects on highly affected regions; here we estimate what those effects might be for Australia. Our analysis applies the MONASH-Health model: a quarterly computable general equilibrium model of the Australian economy. We simulate the effects of two H1N1 epidemics; the relatively mild 2009 outbreak and also a more severe episode. The analysis supports the assertion that an H1N1 epidemic could have significant short-run macroeconomic effects.
|Date of creation:||Dec 2010|
|Publication status:||Published in Journal of the Asia Pacific Economy, vol. 17, no. 1, 2012, pp. 22-51.|
|Contact details of provider:|| Postal: PO Box 14428, Melbourne, Victoria, 8001|
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- Jong-Wha Lee & Warwick J. McKibbin, 2004.
"Globalization and Disease: The Case of SARS,"
Asian Economic Papers,
MIT Press, vol. 3(1), pages 113-131.
- Jong-Wha Lee & Warwick J. McKibbin, 2003. "Globalization and Disease: The Case of SARS," Departmental Working Papers 2003-16, The Australian National University, Arndt-Corden Department of Economics.
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- Simon Wren-Lewis & Marcus Keogh-Brown, 2009. "The possible macroeconomic impact on the UK of an influenza pandemic," Economics Series Working Papers 431, University of Oxford, Department of Economics.
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