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Lee, Chang Hyeong
Stochastic Analysis & Simulation(SAS) Lab
Research Interests
  • Stochastic analysis/computation, epidemic modeling, biological system simulation

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The economic impact of COVID-19 interventions: A mathematical modeling approach

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dc.contributor.author Kim, Jung Eun ko
dc.contributor.author Choi, Heejin ko
dc.contributor.author Choi, Yongin ko
dc.contributor.author Lee, Chang Hyeong ko
dc.date.available 2022-09-16T04:52:46Z -
dc.date.created 2022-09-13 ko
dc.date.issued 2022-09 ko
dc.identifier.citation FRONTIERS IN PUBLIC HEALTH ko
dc.identifier.issn 2296-2565 ko
dc.identifier.uri https://scholarworks.unist.ac.kr/handle/201301/59265 -
dc.description.abstract Prior to vaccination or drug treatment, non-pharmaceutical interventions were almost the only way to control the coronavirus disease 2019 (COVID-19) epidemic. After vaccines were developed, effective vaccination strategies became important. The prolonged COVID-19 pandemic has caused enormous economic losses worldwide. As such, it is necessary to estimate the economic effects of control policies, including non-pharmaceutical interventions and vaccination strategies. We estimated the costs associated with COVID-19 according to different vaccination rollout speeds and social distancing levels and investigated effective control strategies for cost minimization. Age-structured mathematical models were developed and used to study disease transmission epidemiology. Using these models, we estimated the actual costs due to COVID-19, considering costs associated with medical care, lost wages, death, vaccination, and gross domestic product (GDP) losses due to social distancing. The lower the social distancing (SD) level, the more important the vaccination rollout speed. SD level 1 was cost-effective under fast rollout speeds, but SD level 2 was more effective for slow rollout speeds. If the vaccine rollout rate is fast enough, even implementing SD level 1 will be cost effective and can control the number of critically ill patients and deaths. If social distancing is maintained at level 2 at the beginning and then relaxed when sufficient vaccinations have been administered, economic costs can be reduced while maintaining the number of patients with severe symptoms below the intensive care unit (ICU) capacity. Korea has wellequipped medical facilities and infrastructure for rapid vaccination, and the public's desire for vaccination is high. In this case, the speed of vaccine supply is an important factor in controlling the COVID-19 epidemic. If the speed of vaccination is fast, it is possible to maintain a low level of social distancing without a significant increase in the number of deaths and hospitalized patients with severe symptoms, and the corresponding costs can be reduced. ko
dc.language 영어 ko
dc.publisher Frontiers Media S.A. ko
dc.title The economic impact of COVID-19 interventions: A mathematical modeling approach ko
dc.type ARTICLE ko
dc.type.rims ART ko
dc.identifier.doi 10.3389/fpubh.2022.993745 ko
dc.identifier.url https://www.frontiersin.org/articles/10.3389/fpubh.2022.993745/full ko
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