A Study on Herd Immunity of COVID-19 in South Korea: Using a Stochastic Economic-Epidemiological Model

Hojeong Park, Songhee H. Kim

Research output: Contribution to journalArticle

Abstract

Vaccination is an effective measure to control the diffusion of infectious disease such as COVID-19. This paper analyzes the basic reproduction number in South Korea which enables us to identify a necessary level of vaccine stockpile to achieve herd immunity. An susceptible-infected-susceptible model is adopted that allows a stochastic diffusion. The result shows that the basic reproduction number of South Korea is approximately 2 which is substantially lower than those of the other regions. The herd immunity calculated from economic-epidemiological model suggests that at least 62% of the susceptible population be vaccinated when COVID-19 vaccine becomes available.

Original languageEnglish
Pages (from-to)665-670
Number of pages6
JournalEnvironmental and Resource Economics
Volume76
Issue number4
DOIs
Publication statusPublished - 2020 Aug 1

Keywords

  • COVID-19
  • SIS
  • Stochastic disease
  • Vaccination stockpile

ASJC Scopus subject areas

  • Economics and Econometrics
  • Management, Monitoring, Policy and Law

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