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The SAM Approach to Epidemic Models

In: 50th Celebratory Volume

Author

Listed:
  • Pietro Garibaldi
  • Espen R. Moen
  • Christopher A. Pissarides

Abstract

We discuss the connections between epidemiology models and the search and matching (SAM) approach and draw conclusions about modeling the trade-offs between lockdowns and disease spread. We review the pre-COVID epidemics literature, which was mainly by epidemiologists, and the post-COVID surge in economics papers that use meeting technologies to model the trade-offs. We argue that modeling the decentralized equilibrium with economic trade-offs gives rise to substantially different results from the earlier epidemics literature, but policy action is still welfare-improving because of several externalities.

Suggested Citation

  • Pietro Garibaldi & Espen R. Moen & Christopher A. Pissarides, 2023. "The SAM Approach to Epidemic Models," Research in Labor Economics, in: 50th Celebratory Volume, volume 50, pages 1-23, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rleczz:s0147-912120230000050001
    DOI: 10.1108/S0147-912120230000050001
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    More about this item

    Keywords

    SIR models; matching models; COVID-19; social distancing; herd immunity; externalities; A12; I10; J18; D61-D62;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • I10 - Health, Education, and Welfare - - Health - - - General
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy

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