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The impact of stay‐at‐home policies on individual welfare

Ola Andersson, Pol Campos‐Mercade, Fredrik Carlsson (), Florian H. Schneider and Erik Wengström ()

Scandinavian Journal of Economics, 2022, vol. 124, issue 2, 340-362

Abstract: In this paper, we perform a choice experiment assessing the impact of stay‐at‐home policies on individual welfare. We estimate the willingness to accept compensation (WTA) for restricting non‐working hours in Sweden during the COVID‐19 pandemic. The WTA for a one‐month stay‐at‐home policy is about US$480 per person, or 9.1 percent of Sweden's monthly per capita GDP. Stricter lockdowns require disproportionately higher compensation than more lenient ones, indicating that strict policies are cost‐effective only if they are much more successful in slowing the spread of the disease. Moreover, older people have a higher WTA of staying home than the rest of the population.

Date: 2022
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Handle: RePEc:bla:scandj:v:124:y:2022:i:2:p:340-362