Understanding Cross-Country Heterogeneity in Health and Economic Outcomes during the COVID-19 Pandemic: A Revealed-Preference Approach
Daisuke Fujii,
Sohta Kawawaki,
Yuta Maeda,
Masataka Mori and
Taisuke Nakata
Additional contact information
Sohta Kawawaki: University of Tokyo
Yuta Maeda: University of Tokyo
Masataka Mori: Middlebury College
Taisuke Nakata: University of Tokyo
No 41, Working Papers on Central Bank Communication from University of Tokyo, Graduate School of Economics
Abstract:
There is a large heterogeneity in health and macroeconomic outcomes across countries during the COVID-19 pandemic. We present a novel framework to understand the source of this heterogeneity, combining an estimated macro-epidemiological model and the idea of revealed preference. Our framework allows us to decompose the difference in health and macroeconomic outcomes across countries into two components: preference and constraint. We find that there is a large heterogeneity in both components across countries and that some countries such as Japan or Australia are willing to accept a large output loss to reduce the number of COVID-19 deaths.
Keywords: COVID-19; SIR model; epidemiology; value of a statistical life (search for similar items in EconPapers)
JEL-codes: E17 E70 I18 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2022-08
New Economics Papers: this item is included in nep-hea
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Related works:
Working Paper: Understanding Cross-Country Heterogeneity in Health and Economic Outcomes during the COVID-19 Pandemic: A Revealed-Preference Approach (2023)
Working Paper: Understanding Cross-Country Heterogeneity in Health and Economic Outcomes during the COVID-19 Pandemic: A Revealed-Preference Approach (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:upd:utmpwp:041
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