TY  - RPRT
        AU  - Bloom, David E.
AU  - Kuhn, Michael
AU  - Prettner, Klaus
        TI  - Modern Infectious Diseases: Macroeconomic Impacts and Policy Responses
        PY  - 2020/Aug/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 13625
        UR  - https://www.iza.org/publications/dp13625
        AB  - We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late 20th 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 tradeoffs policymakers 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.
        KW  - economic epidemiology
KW  - health
KW  - economic growth
KW  - economic burden of disease
KW  - infectious disease
KW  - influenza
KW  - tuberculosis
KW  - malaria
KW  - HIV/AIDS
KW  - COVID-19
KW  - epidemics
KW  - pandemics
KW  - inequality
KW  - SIR Model
KW  - general equilibrium macroeconomic models
KW  - welfare
KW  - human capital
KW  - health policy
        ER  -