| Item Type |
Journal paper
|
| Abstract |
Using an integrated epi-econ model, we compute the value of vaccines for Covid-19, both under a planner's solution and in competitive equilibrium. The specific model, developed in Boppart, Harmenberg, Hassler, Krusell, and Olsson (2021), factors in not just value-of-life aspects along with standard economic variables but also the value of leisure activities that rely on a social component. We find that the societal value of vaccination is large; we estimate that, translated into monetary terms, the value of vaccinating one young individual in the competitive equilibrium is $17,800. Externalities are large: less than half the societal value is internalized by individuals (assuming
that they act purely in their self-interest). Finally, behavioral responses are important, with a substantial share of the value of vaccines being attributed to people enjoying more socially-oriented leisure when more people are vaccinated. |
| Authors |
Boppart, Timo; Harmenberg, Karl; Krusell, Per & Olsson, Jonna |
| Journal or Publication Title |
Journal of Economic Dynamics and Control |
| Language |
English |
| Subjects |
economics |
| Refereed |
Yes |
| Publisher |
Elsevier |
| Volume |
140 |
| ISSN |
0165-1889 |
| Publisher DOI |
https://doi.org/10.1016/j.jedc.2022.104308 |
| Depositing User |
Prof. PhD Timo Boppart
|
| Date Deposited |
20 Oct 2022 10:39 |
| Last Modified |
02 Feb 2023 01:27 |
| URI: |
https://www.alexandria.unisg.ch/publications/267640 |
Integrated epi-econ assessment of vaccination
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