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Welfare analysis of HIV/AIDS: Formulating and computing a continuous time overlapping generations policy model

  • Jamsheed Shorish

We introduce a continuous time overlapping generations demographic model, in which a social planner seeks to generate an optimal policy for influencing the demographic change of the underlying population in a neoclassical growth model. The model has the notable feature that the underlying state space is a continuum, leading to a Hamilton-Jacobi-Bellman PDE system which is defined over a Hilbert space generated by the ages of the population cohorts. In this technical report the dynamic programming problem is presented and the numerical approximation using a finite difference approximation is derived. This analysis is part of a larger research program on welfare analysis and policy development for the HIV/AIDS global pandemic.

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File URL: http://www.socialsciences.manchester.ac.uk/medialibrary/economics/discussionpapers/EDP-0709.pdf
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Paper provided by Economics, The University of Manchester in its series The School of Economics Discussion Paper Series with number 0709.

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Date of creation: 2007
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Handle: RePEc:man:sespap:0709
Contact details of provider: Postal: Manchester M13 9PL
Phone: (0)161 275 4868
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Web page: http://www.socialsciences.manchester.ac.uk/subjects/economics/

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  1. Robalino, David A. & Jenkins, Carol & El Maroufi, Karim, 2002. "Risks and macroeconomic impacts of HIV/AIDS in the Middle East and North Africa : why waiting to intervene can be costly," Policy Research Working Paper Series 2874, The World Bank.
  2. Silvia Faggian & Fausto Gozzi, 2004. "On The Dynamic Programming Approach For Optimal Control Problems Of Pde'S With Age Structure," Mathematical Population Studies, Taylor & Francis Journals, vol. 11(3-4), pages 233-270.
  3. R Bonnel, 2000. "HIV/AIDS and Economic Growth: A Global Perspective," South African Journal of Economics, Economic Society of South Africa, vol. 68(5), pages 360-379, December.
  4. David Canning, 2006. "The Economics of HIV/AIDS in Low-Income Countries: The Case for Prevention," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 121-142, Summer.
  5. Frank W. Agbola & Yvonne K. Saini & Maylene Y. Damoense,, 2004. "South Africa: Impact of HIV/AIDS on food demand," International Journal of Social Economics, Emerald Group Publishing, vol. 31(7), pages 721-731, July.
  6. Lilani Kumaranayake & Charlotte Watts, 2001. "Resource allocation and priority setting of HIV|AIDS interventions: addressing the generalized epidemic in sub-Saharan Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(4), pages 451-466.
  7. Jeff DeSimone & Edward J. Schumacher, 2004. "Compensating Wage Differentials and AIDS Risk," NBER Working Papers 10861, National Bureau of Economic Research, Inc.
  8. Lloyd, P J, 1991. "Aids: An Economic Approach to the Choice of Policies," The Economic Record, The Economic Society of Australia, vol. 67(197), pages 126-38, June.
  9. Bell, Clive & Gersbach, Hans, 2009. "The macroeconomics of targeting: the case of an enduring epidemic," Journal of Health Economics, Elsevier, vol. 28(1), pages 54-72, January.
  10. Paulo Brito & Rui Dilao, 2006. "Equilibrium price dynamics in an overlapping-generations exchange economy," Working Papers Department of Economics 2006/27, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
  11. Markus Haacker & N. F. R. Crafts, 2003. "Welfare Implications of HIV/AIDS," IMF Working Papers 03/118, International Monetary Fund.
  12. Emily Oster, 2005. "Sexually Transmitted Infections, Sexual Behavior, and the HIV/AIDS Epidemic," The Quarterly Journal of Economics, MIT Press, vol. 120(2), pages 467-515, May.
  13. Simon Dixon & Scott McDonald & Jennifer Roberts, 2001. "HIV|AIDS and development in Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 13(4), pages 381-389.
  14. Jayne, Thomas S. & Villarrea, Marcela & Pingali, Prabhu L. & Hemrich, Gunter, 2005. "HIV/AIDS and the Agricultural Sector: Implications for Policy in Eastern and Southern Africa," eJADE: electronic Journal of Agricultural and Development Economics, Food and Agriculture Organization, Agricultural and Development Economics Division, vol. 2(2).
  15. McDonald, Scott & Roberts, Jennifer, 2006. "AIDS and economic growth: A human capital approach," Journal of Development Economics, Elsevier, vol. 80(1), pages 228-250, June.
  16. C Arndt & J D Lewis, 2000. "The Macro Implications of HIV/AIDS in South Africa: A Preliminary Assessment," South African Journal of Economics, Economic Society of South Africa, vol. 68(5), pages 380-392, December.
  17. Stephen Dike, 2002. "Research on the Economic Impact of HIV/AIDS in South Africa:Review of Methodology and Lessons Learned," South African Journal of Economics, Economic Society of South Africa, vol. 70(7), pages 606-609, 09.
  18. Céecile Ambert, 2002. "The Economic Impact of HIV/AIDS on the Construction Sector: Supply Side Implications for Housing Policy," South African Journal of Economics, Economic Society of South Africa, vol. 70(7), pages 584-596, 09.
  19. Klaus Deininger & Anja Crommelynck & Gloria Kempaka, 2005. "Impact of AIDS on Family Composition, Welfare, and Investment: Evidence from Uganda ," Review of Development Economics, Wiley Blackwell, vol. 9(3), pages 303-324, 08.
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