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

Hojeong Park; Songhee H. Kim

doi:10.1007/s10640-020-00439-8

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

Hojeong Park^*, Songhee H. Kim

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

17 Citations (Scopus)

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 language	English
Pages (from-to)	665-670
Number of pages	6
Journal	Environmental and Resource Economics
Volume	76
Issue number	4
DOIs	https://doi.org/10.1007/s10640-020-00439-8
Publication status	Published - 2020 Aug 1

Bibliographical note

Publisher Copyright:
© 2020, Springer Nature B.V.

Keywords

COVID-19
SIS
Stochastic disease
Vaccination stockpile

ASJC Scopus subject areas

Economics and Econometrics
Management, Monitoring, Policy and Law

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1007/s10640-020-00439-8

Cite this

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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.",

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AU - Kim, Songhee H.

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AB - 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.

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

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

UN SDGs

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