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This paper reviews the literature on incorporating behavioural elements into epidemiological models of pandemics. While modelling behaviour by forward-looking rational agents can provide some insight into the time paths of pandemics, the non-stationary nature of Susceptible-Infected-Removed...
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We use an overlapping generation model to explore the implications of mortality during pandemics for the economy's productive capacity. Under current epidemiological projections for the progression of COVID-19, our model suggests that mortality will have, in itself, at most small effects on...
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The precautionary principle (PP) has been proposed as the proper guide for the decision-making criteria to be adopted in the face of the new catastrophic risks that have arisen in the last decades. This article puts forward a workable definition of the PP based on the so-called a-maximin...
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This report estimates possible macroeconomic effects of a pandemic taking place in the EU in 2006, using a quarterly macroeconomic model. The macroeconomic costs of a pandemic, that is the cost in terms of production lost due to illness and death measured as reductions in GDP growth and/or...
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epidemic will gradually pay the way for a new generation of educated consumers who spend money on products and services that … consumer behaviour during an epidemic is important from theoretical and practical perspectives. StimulusOrganism-Response (S …-O-R) theory provides a useful framework to understand the shifts in customer behaviour due to changes in environment in the …
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