Economic dynamics of epidemiological bifurcations
| Autor: | Kevin X. D. Huang, David Finnoff, David Aadland |
|---|---|
| Rok vydání: | 2020 |
| Předmět: |
Macroeconomics
Economics and Econometrics Rational expectations 050208 finance media_common.quotation_subject 05 social sciences Economic epidemiology Health technology Public policy Indeterminacy (literature) 0502 economics and business Self-fulfilling prophecy Economics 050207 economics Welfare Social Sciences (miscellaneous) Analysis Health policy media_common |
| Zdroj: | Studies in Nonlinear Dynamics & Econometrics. 25:1-18 |
| ISSN: | 1558-3708 1081-1826 |
| Popis: | In this paper, we investigate the nature of rational expectations equilibria for economic epidemiological models, with a particular focus on the behavioral origins and dynamics of epidemiological bifurcations. Unlike mathematical epidemiological models, economic epidemiological models can produce regions of indeterminacy or instability around the endemic steady states due to endogenous human responses to epidemiological circumstance variation, medical technology change, or health policy reform. We consider SI, SIS, SIR and SIRS versions of economic compartmental models and show how well-intentioned public policy may contribute to disease instability, uncertainty, and welfare losses. |
| Databáze: | OpenAIRE |
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