EconPapers    
Economics at your fingertips  
 

COVID-19 Pandemic and Economic Scenarios For Ontario

Miguel Casares, Paul Gomme and Hashmat Khan ()

No 20-15, Carleton Economic Papers from Carleton University, Department of Economics

Abstract: To study the efficacy of the public policy response to the COVID-19 pandemic, we develop a model of the rich interactions between epidemiology and socioeconomic choices. Preferences feature a "fear of death" that lead individuals to reduce their social activity and work time in the face of the pandemic. The aggregate effect these reductions is to slow the spread of the coronavirus. We calibrate the model, including public policies, to developments in Ontario in spring 2020. The model fits the epidemiological data quite well, including the second wave starting in late 2020. We find that socioeconomic interventions work well in the short term, resulting in a rapid drop off in new cases. The long run, however, is governed chiefly by health developments. Welfare cost calculations point to synergies between the health and socioeconomic measures.

Pages: 49 pages
Date: 2020-08-31, Revised 2021-02-05
New Economics Papers: this item is included in nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published: Carleton Economics Papers

Downloads: (external link)
https://www.carleton.ca/economics/wp-content/uploads/cewp20-15-8.pdf

Related works:
Journal Article: COVID‐19 pandemic and economic scenarios for Ontario (2022) Downloads
Working Paper: COVID-19 Pandemic and Economic Scenarios for Ontario (2021) Downloads
Working Paper: COVID-19 Pandemic and Economic Scenarios for Ontario (2020) 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:car:carecp:20-15

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Carleton Economic Papers from Carleton University, Department of Economics C870 Loeb Building, 1125 Colonel By Drive, Ottawa Ontario, K1S 5B6 Canada.
Bibliographic data for series maintained by Court Lindsay ().

 
Page updated 2025-03-30
Handle: RePEc:car:carecp:20-15