A Simple Model of the Production-health Trade-off During an Epidemic

Tommy Andersson, Albin Erlanson (), Robert Östling () and Daniel Spiro
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Albin Erlanson: University of Essex
Robert Östling: Stockholm School of Economics
Authors registered in the RePEc Author Service: Robert Östling

Economics Bulletin, 2022, vol. 42, issue 1, 224 - 231

Abstract: The purpose of this paper is to simplify the standard framework integrating epidemiological and economic concerns. We present a model where a social planner can influence the spread-intensity of an infection wave through a single parameter. The spread-intensity affects both economic activity and population health. We study the planner's optimal trade-off between upholding economic activity and preserving population health and show analytically that the solution has a natural interpretation with intuitive comparative statics.

Keywords: Covid-19 pandemic; SI-model; economic activity; health; optimal policy (search for similar items in EconPapers)
JEL-codes: E2 I1 (search for similar items in EconPapers)
Date: 2022-02-20
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