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The dynamics of economies and infectious disease are inexorably linked: economic well-being influences health (sanitation, nutrition, treatment capacity, etc.) and health influences economic well-being (labor productivity lost to sickness…
In this research, we develop a framework to analyze the interaction between the economy and the Covid-19 pandemic using an extension of SIR epidemic model. At the outset, we assume there are two health related investments including general…
This paper combines a canonical epidemiology model of disease dynamics with government policy of lockdown and testing, and agents' decision to social distance in order to avoid getting infected. The model is calibrated with data on deaths…
Advances in mathematical epidemiology have led to a better understanding of the risks posed by epidemic spreading and informed strategies to contain disease spread. However, a challenge that has been overlooked is that, as a disease becomes…
After the first lockdown in response to the COVID-19 outbreak, many countries faced difficulties in balancing infection control with economics. Due to limited prior knowledge, economists began researching this issue using cost-benefit…
People's cooperation in adopting protective measures is effective in epidemic control and creates herd immunity as a public good. Similarly, the presence of an epidemic is a driving factor for the formation and improvement of cooperation.…
Epidemic models are always simplifications of real world epidemics. Which real world features to include, and which simplifications to make, depend both on the disease of interest and on the purpose of the modelling. In the present paper we…
The potential tradeoff between health outcomes and economic impact has been a major challenge in the policy making process during the COVID-19 pandemic. Epidemic-economic models designed to address this issue are either too aggregate to…
The abrupt outbreak and transmission of biological diseases has always been a long-time concern of humankind. For long, mathematical modeling has served as a simple and yet efficient tool to investigate, predict, and control spread of…
Faced with a dangerous epidemic humans will spontaneously social distance to reduce their risk of infection at a socio-economic cost. Compartmentalised epidemic models have been extended to include this endogenous decision making:…
We create a network model to study the spread of an epidemic through physically proximate and accidental daily human contacts in a city, and simulate outcomes for two kinds of agents - poor and non-poor. Under non-intervention, peak…
During a pandemic, there are conflicting demands arising from public health and economic cost. Lockdowns are a common way of containing infections, but they adversely affect the economy. We study the question of how to minimise the economic…
The initial transient phase of an emerging epidemic is of critical importance for data-driven model building, model-based prediction of the epidemic trend, and articulation of control/prevention strategies. In principle, quantitative models…
We develop a mathematical framework to study the economic impact of infectious diseases by integrating epidemiological dynamics with a kinetic model of wealth exchange. The multi-agent description leads to study the evolution over time of a…
We formulate an optimal control problem to determine the lockdown policy to curb an epidemic where other control measures are not available yet. We present a unified framework to model the epidemic and economy that allows us to study the…
We analyse the economics and epidemiology of different scenarios for a phased restart of the UK economy. Our economic model is designed to address the unique features of the COVID-19 pandemic. Social distancing measures affect both supply…
The spreading of Covid-19 pandemic has highlighted the close link between economics and health in the context of emergency management. A widespread vaccination campaign is considered the main tool to contain the economic consequences. This…
Epidemiological models are an important tool in coping with epidemics, as they offer a forecast, even if often simplistic, of the behavior of the disease in the population. This allows responsible health agencies to organize themselves and…
A simple, but ``classical``, stochastic model for epidemic spread in a finite, but large, population is studied. The progress of the epidemic can be divided into three different phases that requires different tools to analyse. Initially the…
We consider a possibility of socioeconomic collapse caused by the spread of epidemic in a basic dynamical model with negative feedback between the infected population size and a formal collective economic resource. The epidemic-resource…