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Tommy Andersson, Albin Erlanson, Robert Östling and Daniel Spiro
''A Simple Model of the Production-health Trade-off During an Epidemic''
( 2022, Vol. 0 No.0 )
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
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
I1 - Health: General
Manuscript Received : May 31 2021 Manuscript Accepted : Feb 20 2022

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