Analysis of Hybrid Epidemiological-Economic Models of COVID-19 Mitigation Policies

Jessica Carrick-Hagenbarth (), Eric Edlund and Avanti Mukherjee
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Jessica Carrick-Hagenbarth: SUNY Cortland
Eric Edlund: SUNY Cortland
Avanti Mukherjee: SUNY Cortland

Eastern Economic Journal, 2023, vol. 49, issue 4, No 5, 585-612

Abstract: Abstract Some studies have examined the tension between public health benefits and economic costs of interventions in the United States for the COVID-19 pandemic by merging epidemiological and economic models. We extract from these studies a data set consisting of lives saved and the associated costs for each intervention. Our analysis calculates cost–benefit ratios that allow the effectiveness of intervention types to be compared against each other and against the value of the statistical life and the value of the statistical life year. This work identifies patterns in the cost–benefit ratios that illuminate the strengths and weaknesses of different intervention strategies and thereby enhances the practical application of complex theoretical analyses.

Keywords: COVID-19; Health policy interventions; Value of a statistical life; Models (search for similar items in EconPapers)
JEL-codes: I18 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1057/s41302-023-00256-z

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