The COVID-19 pandemic, lifetime consumption, and endogenous discounting under a Stone–Geary-type preference: given the passage of three years

Kei Hosoya

Applied Economics, 2025, vol. 57, issue 35, 5292-5305

Abstract: In this paper, we consider the impact of the COVID-19 pandemic on medium- to long-term lifetime consumption profiles. Previous studies have focused on the attributes of health damage that are the primary determinant of people’s time preference rate. This approach has also been applied to research on the impacts of the COVID-19 pandemic on individual consumption profiles. However, such a framework has one drawback: consumption levels among the aged were estimated to be much lower than they actually were. We address this drawback and further brush up on the existing results by adopting a Stone–Geary-type utility function. Despite this, the key findings based on the analysis are maintained. This paper attempts to make new estimates that also consider the experience of the pandemic over 3 years. Taken together, the negative impact on economic welfare is large in scale and may cause long-term problems in terms of social policy that cannot be overlooked.

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/00036846.2024.2364920 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:57:y:2025:i:35:p:5292-5305

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEC20

DOI: 10.1080/00036846.2024.2364920

Access Statistics for this article

Applied Economics is currently edited by Anita Phillips

More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().