| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14520 |
| DP14520 The Macroeconomics of Epidemics | |
| Martin Eichenbaum; Sérgio Rebelo; Mathias Trabandt | |
| 发表日期 | 2020-03-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We extend the canonical epidemiology model to study the interaction between economic decisions and epidemics. Our model implies that people's decision to cut back on consumption and work reduces the severity of the epidemic, as measured by total deaths. These decisions exacerbate the size of the recession caused by the epidemic. The competitive equilibrium is not socially optimal because infected people do not fully internalize the effect of their economic decisions on the spread of the virus. In our benchmark model, the best simple containment policy increases the severity of the recession but saves roughly half a million lives in the U.S. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Epidemic Covid-19 Recessions Containment policies |
| URL | https://cepr.org/publications/dp14520-5 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543423 |
| 推荐引用方式 GB/T 7714 | Martin Eichenbaum,Sérgio Rebelo,Mathias Trabandt. DP14520 The Macroeconomics of Epidemics. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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