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Growth and Epidemic Diseases

Author

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  • Gersbach, Hans
  • Bell, Clive

Abstract

We study the formation of human capital and its transmission across generations when a society is assailed by an epidemic disease such as AIDS. We establish that the disease can severely retard economic growth, even to the point of leading to an economic collapse. We also show that the epidemic may exacerbate inequality. Pooling health risks in the society puts the society on a ‘make and break’ road.

Suggested Citation

  • Gersbach, Hans & Bell, Clive, 2004. "Growth and Epidemic Diseases," CEPR Discussion Papers 4800, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:4800
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    Cited by:

    1. Lars Jonung & Werner Roeger, 2006. "The macroeconomic effects of a pandemic in Europe - A model-based assessment," European Economy - Economic Papers 2008 - 2015 251, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    2. João Tovar Jalles & Georgios Karras, 2023. "Pandemics and Trade in the 21st Century: Evidence from five Pre-Covid Pandemics," Open Economies Review, Springer, vol. 34(4), pages 895-918, September.

    More about this item

    Keywords

    Human capital; Growth; Aids; Epidemic diseases; Pooling Risks;
    All these keywords.

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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