Bloom, David, Kuhn, Michael, Prettner, Klaus. 2022. Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses. Journal of Economic Literature. 60 85-131.
BibTeX
Abstract
We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late twentieth century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the economic burden of infectious diseases. Second, we sketch a general theoretical framework to evaluate the trade-offs policy makers must consider when addressing infectious diseases and their macroeconomic repercussions. In so doing, we emphasize the dependence of economic consequences on (i) disease characteristics; (ii) inequalities among individuals in terms of susceptibility, preferences, and income; and (iii) cross-country heterogeneities in terms of their institutional and macroeconomic environments. Third, we study pharmaceutical and nonpharmaceutical policies aimed at mitigating and preventing infectious diseases and their macroeconomic repercussions. Fourth, we discuss the health toll and economic impacts of five infectious diseases: HIV/AIDS, malaria, tuberculosis, influenza, and COVID-19. Although major epidemics and pandemics can take an enormous human toll and impose a staggering economic burden, early and targeted health and economic policy interventions can often mitigate both to a substantial degree.
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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | Journal of Economic Literature |
Citation Index | SSCI |
WU Journalrating 2009 | A+ |
Starjournal | Y |
Language | English |
Title | Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses |
Volume | 60 |
Year | 2022 |
Page from | 85 |
Page to | 131 |
Reviewed? | Y |
URL | https://www.aeaweb.org/articles?id=10.1257/jel.20201642 |
DOI | http://dx.doi.org/10.1257/jel.20201642 |
Open Access | N |
Associations
- People
- Prettner, Klaus (Details)
- External
- Bloom, David (Harvard T.H. Chan Schoon of Public Health, United States/USA)
- Kuhn, Michael (IIASA, Austria)
- Organization
- Economics of Inequality FI (Details)
- Department of Economics (Prettner) (Details)
- Research areas (Ă–STAT Classification 'Statistik Austria')
- 3911 Economics of the health system (Details)
- 5343 Economic theory (Details)
- 5371 Macroeconomics (Details)
- 5404 Demography (Details)