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CIAO DATE: 12/5/2006
Global macroeconomic consequences of pandemic influenza
Warwick McKibbin, Alexandra Sidorenko
February 2006
Abstract
In a major new Analysis, Professor Warwick McKibbin and Dr Alexandra Sidorenko explore the implications of a pandemic influenza outbreak on the global economy.
Their paper examines a range of scenarios (mild, moderate, severe and ultra) that span the historical experience of influenza pandemics of the twentieth century.
Their analysis finds that a pandemic would be expected to lead to: a fall in the labour force; an increase in the cost of doing business; a shift in consumer preferences; and a re-evaluation of country risk.
The paper finds that even a mild pandemic has significant consequences for global output, costing the world 1.4 million lives and approximately US$330 billion in lost output.
