A Study on Herd Immunity of COVID-19 in South Korea: Using a Stochastic Economic-Epidemiological Model

Hojeong Park () and Songhee H. Kim
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Hojeong Park: Korea University
Songhee H. Kim: Yonsei University

Environmental & Resource Economics, 2020, vol. 76, issue 4, No 9, 665-670

Abstract: Abstract Vaccination is an effective measure to control the diffusion of infectious disease such as COVID-19. This paper analyzes the basic reproduction number in South Korea which enables us to identify a necessary level of vaccine stockpile to achieve herd immunity. An susceptible-infected-susceptible model is adopted that allows a stochastic diffusion. The result shows that the basic reproduction number of South Korea is approximately 2 which is substantially lower than those of the other regions. The herd immunity calculated from economic-epidemiological model suggests that at least 62% of the susceptible population be vaccinated when COVID-19 vaccine becomes available.

Keywords: COVID-19; Vaccination stockpile; SIS; Stochastic disease (search for similar items in EconPapers)
JEL-codes: D81 I18 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10640-020-00439-8

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