The human life vs economic loss dilemma: Relation between death rate and the output rate in Europe during the Covid 19 pandemic

I analyze the human life-economic loss dilemma (HELD) trade-off between saving lives ad saving economic activities during the emergency period of Covid 19 pandemic. A new concept labeled HELD Curve, not addressed in the literature so far, is proposed to model the inverse non-linear relation between...

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Detalles Bibliográficos
Autor principal: Bollino, Carlo Andrea
Formato: Online Artículo Texto
Lenguaje:English
Publicado: The Society for Policy Modeling. Published by Elsevier Inc. 2023
Materias:
Article
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10121148/
https://www.ncbi.nlm.nih.gov/pubmed/37216039
http://dx.doi.org/10.1016/j.jpolmod.2023.04.003
Descripción
Sumario:I analyze the human life-economic loss dilemma (HELD) trade-off between saving lives ad saving economic activities during the emergency period of Covid 19 pandemic. A new concept labeled HELD Curve, not addressed in the literature so far, is proposed to model the inverse non-linear relation between loss of economic activity and death rates during the Covid 19 Pandemic in Europe, due to the lockdown policy. Econometric estimation supports this view offering to policymakers a tool to assess the impact of continuing the lockdown. The HELD curve elasticity implies a trade-off of 218 thousand EURO per saved human life.

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