Why Is COVID-19 Mortality in Lombardy so High? Evidence from the Simulation of a SEIHCR Model

15 Pages Posted: 15 Apr 2020

See all articles by Carlo A. Favero

Carlo A. Favero

Bocconi University - Department of Finance; Centre for Economic Policy Research (CEPR)

Date Written: April 10, 2020

Abstract

The standard SEIR model based on a parameterization consistent with the international evidence cannot explain the very high COVID-19 related mortality in Lombardy. This paper proposes an extension of the standard SEIR model that is capable of solving the puzzle. The SEIR model features exogenous mortality: once Susceptible individuals become first Exposed, and then Infected, they succumb with a given probability. The extended model inlcudes an Hospitlization process and the possibility that Hospitalized patients, who need to resort to Intensive Care Unit, cannot find availability because the ICU is saturated. This Constraint creates an additional increase in mortality, which is endogenous to the diffusion of the disease. The SEIHCR (H stands for Hospitalization and C stands for Constraint) is capable of explaining the dynamics of COVID-19 related mortality in Lombardy with a paramerization consistent with the international evidence.

Keywords: COVID-19, Mortality, Lombardy, SEIRHC model

JEL Classification: C53, C54

Suggested Citation

Favero, Carlo A., Why Is COVID-19 Mortality in Lombardy so High? Evidence from the Simulation of a SEIHCR Model (April 10, 2020). Available at SSRN: https://ssrn.com/abstract=3566865 or http://dx.doi.org/10.2139/ssrn.3566865

Carlo A. Favero (Contact Author)

Bocconi University - Department of Finance ( email )

Via Roentgen 1
Milano, MI 20136
Italy

HOME PAGE: http://www.igier.unibocconi.it\favero

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
314
Abstract Views
1,659
rank
111,173
PlumX Metrics