Public Health Events and Economic Growth in a Neoclassical Framework

Public health events (PHEs) have emerged as significant threats to human life and health, as well as affecting economic growth. PHEs such as COVID-19 have led people to reflect on better regular prevention and control (RPC) for PHEs. Firstly, under the background of RPC for PHEs, a neoclassical economic growth model is established from a long-term and macro perspective with the core concept of prevention and control intensity (PCI). Secondly, we obtain the equilibrium solution of the model, with the steady state and the balanced growth path analyzed. Additionally, an algorithm for optimal PCI and marginal propensity to consume (MPC) is given. Finally, the numerical simulation results demonstrate that this model has good interpretability to explore the mechanism of RPC for PHEs on economic growth, and can provide valuable guidance and policy recommendations of RPC for PHEs