Heterogeneity in SIR-macro?
Eichenbaum et al. (2020) developed a “SIR-macro” model which is often used as a basis in the recent highly developed literature on covid pandemic. The model embeds a simple economy with the epidemiological SIR part based on Kermack and McKendrick (1927). In reality, the pandemic spread with heterogeneity - including age, region and occupation. Appropriate policy responses should take these heterogeneities into consideration.
What to do on the epi-mmb?
- Model: ERT_21_NK, GP_20, KUX_20, CF_20
- Shocks: Initial infections of 0.1% of the population
- Variables: Consumption, Labour, Output, Susceptibles, Infected, Deaths