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Economic consequences of pre-COVID-19 epidemics: A literature review

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dc.contributor.author Noy, Ilan
dc.contributor.author Uher, Tomáš
dc.date.accessioned 2021-03-17T01:11:01Z
dc.date.accessioned 2022-07-12T02:55:27Z
dc.date.available 2021-03-17T01:11:01Z
dc.date.available 2022-07-12T02:55:27Z
dc.date.copyright 2021
dc.date.issued 2021
dc.identifier.uri https://ir.wgtn.ac.nz/handle/123456789/21107
dc.description.abstract In 2020, we all realized we should know more about the economic impacts of pandemics. Here, we summarize the contemporary research on the economic consequences of past epidemics and pandemics with a primary focus on highly infectious pathogens such as influenza and Ebola (as distinct from less infectious, but maybe ultimately more lethal or damaging diseases like AIDS). The paper draws exclusively from scientific research relating to events preceding the current COVID-19 crisis, though it does describe the many new studies completed recently in connection to the renewed scientific interest in past events. We do not focus on the on-going COVID-19 global crisis, since we believe it is premature to attempt to provide a thorough summary of our state of knowledge about this event. The economic consequences of epidemics are categorized into macroeconomic, microeconomic, socio-economic, sectoral and long-term impacts. Impact pathways and impact determinants relating to these effects are also described. This body of research suggests that epidemics have a broad range of inter-connected economic consequences through both supply and demand-side channels, with the behavioral response of individuals, communities, societies, and governments being one of the most important determinants of these impact (rather than disease prevalence and progression itself). Furthermore, the economic effects of epidemics can be long-lasting. en_NZ
dc.format pdf en_NZ
dc.language.iso en_NZ
dc.publisher Te Herenga Waka—Victoria University of Wellington en_NZ
dc.relation.ispartofseries SEF Working Paper; 02/2021 en_NZ
dc.subject Pandemics en_NZ
dc.subject Epidemics en_NZ
dc.subject Economic costs en_NZ
dc.title Economic consequences of pre-COVID-19 epidemics: A literature review en_NZ
dc.type Text en_NZ
vuwschema.contributor.unit School of Economics and Finance en_NZ
vuwschema.subject.anzsrcfor 140208 Health Economics en_NZ
vuwschema.type.vuw Working or Occasional Paper en_NZ
vuwschema.subject.anzsrcforV2 380108 Health economics en_NZ
dc.rights.rightsholder http://www.victoria.ac.nz/sef/research/sef-working-papers en_NZ

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