Modeling the COVID-19 incorporating oil futures
摘要
The COVID-19 pandemic necessitated the production of mathematical models that could explain and thoroughly study various aspects and features of the pandemic. In this work, we utilize mathematical modeling to model COVID-19 spread, also reflecting changes in growth rates over time. Empirically, we use data from January 2020 to May 2022, and according to the results, a significant correlation between confirmed COVID-19 cases and crude oil futures prices is revealed, with linear and non-linear analysis indicating a strong association. The findings highlight the dynamic link between public health crises and global economic factors, pointing out the need for multifaceted risk assessment frameworks that integrate health metrics with economic forecasting for improved resilience against pandemic-caused disruptions.