Optimal vaccination and herd immunity
Résumé
Herd immunity is a central concept in epidemiology. It refers to a situation where the amount of recovered and immune individuals is high enough to protect susceptibles from contracting the disease. Herd immunity can be obtained naturally when individuals recover from the disease, or artificially after the administration of an appropriate vaccine. The present paper addresses the question of the amount of public spending in medical research to obtain a vaccine which maximizes welfare. Public spending is assumed to reduce the waiting time to discover a vaccine against an infectious disease evolving according to a SIR model. Both linear and logarithmic preferences are considered with and without time discounting. Worth to note, we show that if an economy has a sufficiently performing technology, then the government should invest as much as the initial public budget allows.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Optimal vaccination and herd immunity
|
Résumé |
en
Herd immunity is a central concept in epidemiology. It refers to a situation where the amount of recovered and immune individuals is high enough to protect susceptibles from contracting the disease. Herd immunity can be obtained naturally when individuals recover from the disease, or artificially after the administration of an appropriate vaccine. The present paper addresses the question of the amount of public spending in medical research to obtain a vaccine which maximizes welfare. Public spending is assumed to reduce the waiting time to discover a vaccine against an infectious disease evolving according to a SIR model. Both linear and logarithmic preferences are considered with and without time discounting. Worth to note, we show that if an economy has a sufficiently performing technology, then the government should invest as much as the initial public budget allows.
|
Auteur(s) |
Stefano Bosi
1
, Carmen Camacho
2, 3
, David Desmarchellier
4
1
EPEE -
Centre d'Etudes des Politiques Economiques
( 1042269 )
- 4, boulevard François Mitterrand, 91025 EVRY CEDEX
- France
2
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
3
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
4
BETA -
Bureau d'Économie Théorique et Appliquée
( 1001961 )
- Université de Lorraine, UFR Droit Sciences Economiques et Gestion, 13 place Carnot CO 70026, 54035 Nancy Cedex
Université de Strasbourg, Faculté des Sciences Economiques et de Gestion, 61 avenue de la Forêt Noire 67085 Strasbourg Cedex
- France
|
Date de publication |
2020-08-03
|
Numéro |
41
|
Page/Identifiant |
1-27
|
Public visé |
Scientifique
|
Langue du document |
Anglais
|
Titre de l'ouvrage |
COVID Economics. Vetted and real -time papers
|
Vulgarisation |
Non
|
Audience |
Internationale
|
Nom de la revue |
|
Comité de lecture |
Oui
|
URL éditeur |
https://cepr.org/content/covid-economics-vetted-and-real-time-papers-0
|
Domaine(s) |
|
Éditeur commercial |
|
Mots-clés |
en
COVID-19, Pandemic, Public spending, SIR model
|
Loading...