A time-space integro-differential economic model of epidemic control
Résumé
In this paper we propose a time-space economic model to control the evolution and the spread of a disease. The underlying epidemiological model is formulated as a reaction-diffusion integro-differential partial differential equation. This specific model formulation, supported by empirical data, contains three different terms: a pure diffusion term, a linear growth term, and an integral term. These three terms capture different diffusion channels of a transmissible disease: a local diffusion effect, a temporal effect, and a global diffusion effect. The decision maker aims at deciding the optimal effort to be implemented in order to control the number of infections and, at the same time, minimize the cost of treatment. We analyze the finite horizon case in detail and we provide the closed-form expression of the optimal policy to be implemented to control the epidemic while sustaining economic growth. We also propose two different extensions: The first one considers an infinite horizon model while, the second one, is related to a multi-period framework.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Résumé |
en
In this paper we propose a time-space economic model to control the evolution and the spread of a disease. The underlying epidemiological model is formulated as a reaction-diffusion integro-differential partial differential equation. This specific model formulation, supported by empirical data, contains three different terms: a pure diffusion term, a linear growth term, and an integral term. These three terms capture different diffusion channels of a transmissible disease: a local diffusion effect, a temporal effect, and a global diffusion effect. The decision maker aims at deciding the optimal effort to be implemented in order to control the number of infections and, at the same time, minimize the cost of treatment. We analyze the finite horizon case in detail and we provide the closed-form expression of the optimal policy to be implemented to control the epidemic while sustaining economic growth. We also propose two different extensions: The first one considers an infinite horizon model while, the second one, is related to a multi-period framework.
|
Titre |
it
A time-space integro-differential economic model of epidemic control
|
Auteur(s) |
Carmen Camacho
1, 2
, Rodolphe Desbordes
3
, Davide La Torre
3
1
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
SKEMA Business School
( 214127 )
- Campus Sophia Antipolis 60 rue Dostoïevski 06902 Sophia Antipolis
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Date de publication |
2023
|
Licence |
Paternité
|
Public visé |
Scientifique
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Domaine(s) |
|
Projet(s) ANR |
|
Mots-clés (JEL) |
|
Mots-clés |
en
Epidemics, Macroeconomic outcomes, Mitigation policies
|
DOI | 10.1007/s00199-023-01506-z |
UT key WOS | 001023377000001 |
Loading...