The Effectiveness of Life-Preserving Investments in Times of COVID-19 / Jules H. van Binsbergen, Christian C. Opp.

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van Binsbergen, Jules H

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TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w27382.Publication details: Cambridge, Mass. National Bureau of Economic Research 2020.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: We analyze the effectiveness of preventive investments aimed at increasing agents' life expectancy, with a focus on influenza and COVID-19 mitigation. Maximizing overall life expectancy requires allocating resources across hazards so as to equalize investments' marginal effectiveness. Based on estimates for the marginal effectiveness of influenza vaccines, we determine the level of COVID-19 mitigation investments that would imply such equalization. Given current projections for COVID-19 mitigation costs, our results suggest that wide-spread influenza vaccination would be an effective life-preserving investment.

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Previous	nber w2738 Latin America's Intraregional Trade: Evolution and Future Prospects /	nber w27380 Reconsidering Returns /	nber w27381 Default Options and Insurance Demand /	nber w27382 The Effectiveness of Life-Preserving Investments in Times of COVID-19 /	nber w27383 China’s Import Demand for Agricultural Products: The Impact of the Phase One Trade Agreement /	nber w27384 Does Policy Communication During Covid Work? /	nber w27385 Insider-Outsider Labor Markets, Hysteresis and Monetary Policy /	Next

June 2020.

We analyze the effectiveness of preventive investments aimed at increasing agents' life expectancy, with a focus on influenza and COVID-19 mitigation. Maximizing overall life expectancy requires allocating resources across hazards so as to equalize investments' marginal effectiveness. Based on estimates for the marginal effectiveness of influenza vaccines, we determine the level of COVID-19 mitigation investments that would imply such equalization. Given current projections for COVID-19 mitigation costs, our results suggest that wide-spread influenza vaccination would be an effective life-preserving investment.