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Tractable Epidemiological Models for Economic Analysis

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  • Niepelt, Dirk
  • Gonzalez-Eiras, Martin

Abstract

We contrast the canonical epidemiological SIR model due to Kermack and McKendrick (1927) with more tractable alternatives that off er similar degrees of "realism" and flexibility. We provide results connecting the diff erent 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

  • Niepelt, Dirk & Gonzalez-Eiras, Martin, 2020. "Tractable Epidemiological Models for Economic Analysis," CEPR Discussion Papers 14791, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:14791
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    References listed on IDEAS

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    1. Fernando Alvarez & David Argente, 2020. "A Simple Planning Problem for COVID-19 Lockdown," Working Papers 2020-34, Becker Friedman Institute for Research In Economics.
    2. 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.
    3. Gonzalez-Eiras, Martin & Niepelt, Dirk, 2020. "On the Optimal "Lockdown" During an Epidemic," CEPR Discussion Papers 14612, C.E.P.R. Discussion Papers.
    4. 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.
    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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    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. Dirk Niepelt & Mart n Gonzalez-Eiras, 2020. "Optimally Controlling an Epidemic," Diskussionsschriften dp2019, Universitaet Bern, Departement Volkswirtschaft.
    3. Peter A.G. van Bergeijk, 2021. "Pandemic Economics," Books, Edward Elgar Publishing, number 20401.
    4. Mart n Gonzales-Eiras, Dirk Niepelt, 2023. "Optimal Epidemic Control," Diskussionsschriften dp2311, Universitaet Bern, Departement Volkswirtschaft.

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    More about this item

    Keywords

    Epidemiology; Sir model; Logistic model; Covid-19;
    All these keywords.

    JEL classification:

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

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