EconPapers    
Economics at your fingertips  
 

A Macroeconomic Model of an Epidemic with Silent Transmission and Endogenous Self-isolation

Antonio Diez de los Rios ()

Staff Working Papers from Bank of Canada

Abstract: 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.

Keywords: Coronavirus disease (COVID-19); Economic models (search for similar items in EconPapers)
JEL-codes: E1 H0 I1 (search for similar items in EconPapers)
Pages: 57 pages
Date: 2020-11
New Economics Papers: this item is included in nep-mac and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
https://www.bankofcanada.ca/wp-content/uploads/2020/11/swp2020-50.pdf Full text (application/pdf)

Related works:
Journal Article: A macroeconomic model of an epidemic with silent transmission and endogenous self‐isolation (2022) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bca:bocawp:20-50

Access Statistics for this paper

More papers in Staff Working Papers from Bank of Canada 234 Wellington Street, Ottawa, Ontario, K1A 0G9, Canada. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2023-01-25
Handle: RePEc:bca:bocawp:20-50