Motesharrei, S.; Rivas, J.; Kalnay, E. "Human and nature dynamics (HANDY): Modelling inequality and use of resources in the collapse or sustainability of societies". Ecological Economics 101 (2014) 90-102
This page provides a structural analysis of POTUS Candidate Rand Paul's
economic policy based on the information at: https://www.randpaul.com/issue/spending-and-debt and also https://www.randpaul.com/issue/taxes The method used is Integrative
Propositional Analysis (IPA)
available:
http://scipolicy.org/uploads/3/4/6/9/3469675/wallis_white_paper_-_the_ipa_answer_2014.12.11.pdf
The model shows Covid-19 situations in Burnie, Tasmania. Under such circumstances, how the state government deals with the pandemic and how economy changes will be illustrated. The relationship between government policy and economic activities under Covid-19 outbreaks will be explained through different variables.
Assumptions
Government policy negatively affects Covid-19 outbreaks and economic activities.
Covid-19 outbreaks also has negative effects on economic growth.
Parameters
There are several fixed and adjusted variables.
1. COVID-19 Outbreaks
Fixed variables: infection rate, recovery rate
Adjusted variables: immunity loss rate
2. Government Policy
Adjusted variables: lockdown, social distancing, testing, vaccination
3. Economic impact
Fixed variables: tourism
Adjusted variables: economic growth rate
Interesting Insights
Tourism seems to be the most effective way to bring back economic growth in Tasmania, and it takes time to recover from Covid-19.
Government policies tend to have negative influences on economic growth.
This model was designed from SIR model(susceptible, infected, revovered) to find out the effect of covid-19 outbreak into economic outcomes via government policy.
Assumptions
The government policy is triggered when number of infected is more than ten.
The government policies will take negative effect into Covid-19 outbreaks and financial system
Adjusted parameter: Immunity loss rate can be change from vaccination rate.
Government policy's parameters
Adjusted parameters: Testing rate(from 0.15 to 0.95), vaccination rate(from 0.3 to 1), travel ban(from 0 to 0.9), social distancing(from 0.1 to 0.8), Quarantine(from 0.1 to 0.9)
Economic's parameters
Fixed parameter: Tourism
Adjusted parameter: Economic growth rate(from 0.3 to 0.5)
Interesting insight
Increase vaccination rate and testing rate will decrease the number amount of infected case and a little bit more negative effect to economic system. However economic system still need a long time to recover in both cases.
BMA708_Assignment 3_ndkvo_520272_COVID-19 outbreak and Burnie economy
this model shows the relationship between economic growth and government debt (just the bailout debt) and the mortgage default burden. At the current rates, the debt will never be paid off.
bailout debt, mortgage defaults and economic growth
