Economic losses caused by the premature deaths from COVID-19 pandemic

 
PIIS020736760011348-1-1
DOI10.31857/S020736760011348-1
Publication type Article
Status Published
Authors
Occupation: Director of the FBK Strategic Analysis Institute
Affiliation: FBK Strategic Analysis Institute
Address: Russian Federation, Moscow
Occupation: Head of the Department of Management in Healthcare and Sports Industry
Affiliation: State University of Management
Address: Russian Federation, Moscow
Occupation: Professor of the Department of Management in Healthcare and Sports Industry
Affiliation: State University of Management
Address: Russian Federation, Moscow
Journal nameObshchestvo i ekonomika
EditionIssue 9
Pages59-74
Abstract

The study estimated economic losses caused by premature deaths from coronavirus infection for 44 national economies (OECD and BRICS countries). For the calculations the author used an income approach to determining the value of a statistical life, as well as forecast data from the OECD.

According to the calculations, the economic losses from deaths caused by the coronavirus amounted to USD 119.5 billion in the OECD countries, and to USD 37.1 billion in the BRICS countries. The economic losses from deaths in Russia amounted to USD 4.2 billion.

 
Keywordsvalue of a statistical life, economic losses, coronavirus, life expectancy, OECD, BRICS, international comparisons
Received28.09.2020
Publication date29.09.2020
Number of characters35797
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