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Verification Results For Age-Structured Models Of Economic-Epidemics Dynamics

Giorgio Fabbri (), Fausto Gozzi and Giovanni Zanco ()
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Giovanni Zanco: Dipartment of Economics and Finance, LUISS University, Rome, Italy

No 2021004, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: In this paper we propose a macro-dynamic age-structured set-up for the analysis of epidemics/economic dynamics in continuous time. The resulting optimal control problem is reformulated in an infinite dimensional Hilbert space framework where we perform the basic steps of dynamic programming approach. Our main result is a verification theorem which allows to guess the feedback form of optimal strategies. This will be a departure point to discuss the behavior of the models of the family we introduce and their policy implications.

Keywords: COVID-19; macro-dynamic models; epidemiological dynamics; Hilbert spaces; verification theorem (search for similar items in EconPapers)
JEL-codes: C61 E60 I10 (search for similar items in EconPapers)
Date: 2021-02-08
New Economics Papers: this item is included in nep-mac and nep-ore
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Related works:
Journal Article: Verification results for age-structured models of economic–epidemics dynamics (2021) Downloads
Working Paper: Verification results for age-structured models of economic–epidemics dynamics (2021) Downloads
Working Paper: Verification Results for Age-Structured Models of Economic-Epidemics Dynamics (2020) Downloads
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