Belief-driven dynamics in a behavioral SEIRD macroeconomic model with sceptics

0579211 - ÚTIA 2025 RIV NL eng J - Článek v odborném periodiku
Proaño, Ch. R. - Kukačka, Jiří - Makarewicz, T.
Belief-driven dynamics in a behavioral SEIRD macroeconomic model with sceptics.
Journal of Economic Behavior & Organization. Roč. 217, č. 1 (2024), s. 312-333. ISSN 0167-2681. E-ISSN 1879-1751
Institucionální podpora: RVO:67985556
Klíčová slova: Endogenous cycles * COVID-19 pandemic * Bounded rationality * Heterogenous expectations
Obor OECD: Applied Economics, Econometrics
Impakt faktor: 2.2, rok: 2022
Způsob publikování: Open access
http://library.utia.cas.cz/separaty/2023/E/kukacka-0579211.pdf https://www.sciencedirect.com/science/article/pii/S0167268123004110?via%3Dihub

The reluctance of a non-trivial fraction of the population to adhere to social distancing measures - and even to get vaccinated - during the COVID-19 pandemic represented a challenge for imposed public health policies in many countries around the world. Against this background we study the impact of boundedly rational perceptions for the dynamics of epidemics such as the COVID-19 pandemic in a standard epidemic model extended by a stylized macroeconomic dimension similar to Atkeson et al. (2021). We illustrate through which channels misperceptions or even “scepticism” concerning the infectiousness of the disease or its mortality rate may undermine the effectiveness of lockdowns and other public health policies in the long-run.
Trvalý link: https://hdl.handle.net/11104/0348312