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Coronavirus pandemic and tourism: Dynamic stochastic general equilibrium modeling of infectious disease outbreak

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  • Yang, Yang
  • Zhang, Hongru
  • Chen, Xiang

Abstract

•We propose a DSGE model to examine the impact of the coronavirus outbreak on tourism.•The model is generalizable to any epidemic.•The model supports the policy of providing tourism consumption vouchers for residents.

Suggested Citation

  • Yang, Yang & Zhang, Hongru & Chen, Xiang, 2020. "Coronavirus pandemic and tourism: Dynamic stochastic general equilibrium modeling of infectious disease outbreak," Annals of Tourism Research, Elsevier, vol. 83(C).
    • Handle: RePEc:eee:anture:v:83:y:2020:i:c:s0160738320300578
    DOI: 10.1016/j.annals.2020.102913
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    References listed on IDEAS

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    1. Isoré, Marlène & Szczerbowicz, Urszula, 2017. "Disaster risk and preference shifts in a New Keynesian model," Journal of Economic Dynamics and Control, Elsevier, vol. 79(C), pages 97-125.
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    3. Francois Gourio, 2012. "Disaster Risk and Business Cycles," American Economic Review, American Economic Association, vol. 102(6), pages 2734-2766, October.
    4. Robert E. Hall & Charles I. Jones, 2007. "The Value of Life and the Rise in Health Spending," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(1), pages 39-72.
    5. Robert J. Barro, 2006. "Rare Disasters and Asset Markets in the Twentieth Century," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 121(3), pages 823-866.
    6. Takeshi Yagihashi & Juan Du, 2015. "Health Care Inflation And Its Implications For Monetary Policy," Economic Inquiry, Western Economic Association International, vol. 53(3), pages 1556-1579, July.
    7. Hongru Zhang & Yang Yang, 2019. "Prescribing for the tourism-induced Dutch disease: A DSGE analysis of subsidy policies," Tourism Economics, , vol. 25(6), pages 942-963, September.
    8. Adam Blake & M. Thea Sinclair & Guntur Sugiyarto, 2003. "Quantifying the Impact of Foot and Mouth Disease on Tourism and the UK Economy," Tourism Economics, , vol. 9(4), pages 449-465, December.
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