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Trading Off Consumption and COVID-19 Deaths / Robert E. Hall, Charles I. Jones, Peter J. Klenow.
- Format:
- Book
- Author/Creator:
- Hall, Robert E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w27340.
- NBER working paper series no. w27340
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- This note develops a framework for thinking about the following question: What is the maximum amount of consumption that a utilitarian welfare function would be willing to trade off to avoid the deaths associated with the pandemic? The answer depends crucially on the mortality rate associated with the coronavirus. If the mortality rate averages 0.81%, taken from the Imperial College London study, our answer is 41% of one year's consumption. If the mortality rate instead averages 0.44% across age groups, our answer is 28%.
- Notes:
- Print version record
- June 2020.
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