2021/09/06 by Basak, Gopal K., Chakraborty, Chandramauli, Das, Pranab Kumar
#Dynamical Systems (math.DS) #FOS: Economics and business #FOS: Electrical engineering #FOS: Mathematics #General Economics (econ.GN) #Optimization and Control (math.OC) #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · doi:10.48550/arxiv.2109.02512
The paper addresses the question of lives versus livelihood in an SIRD model augmented with a macroeconomic structure. The constraints on the availability of health facilities - both infrastructure and health workers determine the probability of receiving treatment which is found to be higher for the patients with severe infection than the patients with mild infection for the specific parametric configuration of the paper. Distinguishing between two types of direct intervention policy - hard lockdown and soft lockdown, the study derives alternative policy options available to the government. The study further indicates that the soft lockdown policy is optimal from a public policy perspective under the specific parametric configuration considered in this paper.