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Global Mortality Benefits of COVID-19 Action

Sunbin Yoo () and Shunsuke Managi

MPRA Paper from University Library of Munich, Germany

Abstract: The rapid spread of COVID-19 motivated countries worldwide to mitigate mortality through actions including social distancing, home quarantine, school closures, and case isolation. We estimate the global mortality benefits of these actions. We use county-level data on COVID-19 from January 2020, project the number of mortalities until September 2020, and calculate the global mortality benefits using the age- and country-specific value of a statistical life (VSL). Implementing all four types of actions above would save approximately 40.76 trillion USD globally, with social distancing accounting for 55% of the benefits. The monetary benefit would be the largest in the US, Japan and China. Our findings indicate that global actions during COVID-19 have substantial economic benefits and must be implemented in response to COVID-19.

Keywords: COVID-19; coronavirus; global mortality benefit; value of a statistical life; epidemic diseases (search for similar items in EconPapers)
JEL-codes: D6 H84 I10 I12 I18 (search for similar items in EconPapers)
Date: 2020-06, Revised 2020-07
New Economics Papers: this item is included in nep-age and nep-hea
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