A macroeconomic model of an epidemic with silent transmission and endogenous self-isolation / by Antonio Diez de los Rios.
Material type:
TextSeries: Staff Working Paper (Bank of Canada) ; 2020-50Publisher: [Ottawa] : Bank of Canada = Banque du Canada, 2020Copyright date: ©2020Description: 1 online resource (ii, 40 pages)Content type: - text
- computer
- online resource
- Recessions -- Econometric models
- COVID-19 (Disease) -- Economic aspects
- Récessions -- Modèles économétriques
- COVID-19 -- Aspect économique
- Basic reproduction number
- Coronavirus disease 2019
- Epidemic
- Epidemiology
- Infection
- Lagrange multiplier
- Recession
- Steady-state economy
- Transmission (medicine)
- Tuberculosis
- 330.9 15
- cci1icc
Distributed by the Government of Canada Publishing and Depository Services Program (Weekly acquisitions list 2020-49).
"Last updated: November 26, 2020."
Includes bibliographical references.
Unrestricted online access. Unrestricted online access. star CaOONL
Electronic monograph in PDF format.
'We study the interaction between epidemics and economic decisions in a model where (1) agents allocate their time to market and home production and social and home leisure, (2) these activities differ in their degree of contagiousness, (3) some infected individuals are indistinguishable from susceptible individuals, and (4) agents are not necessarily rational. For baseline parameter values for the COVID-19 pandemic, we find that agents partially self-isolate by allocating more time to home activities and that the effective reproduction number of the disease stabilises at one. Detection and isolation of infected individuals severely mitigate the recession caused by the pandemic'--Abstract, page ii.
There are no comments on this title.
