Benefits of Coronavirus Suppression: A Cost-Benefit Analysis of the Response to the First Wave of COVID-19 in the United States [June 3, 2021] [open pdf - 529KB]
From the Abstract: "This paper estimates the benefits and costs of state suppression policies to 'bend the curve' during the initial outbreak of COVID-19 in the United States. We employ an approach that values benefits and costs in terms of additions or subtractions to total production. Relative to a baseline in which only the infected and at-risk populations mitigate the spread of coronavirus, we estimate that total benefits of suppression policies to economic output are between $632.5 billion and $765.0 billion from early March 2020 to August 1, 2020. Relative to private mitigation, output lost due to suppression policies is estimated to be between $214.2 billion and $331.5 billion. The cost estimate is based on the duration of nonessential business closures and stay-at-home orders, which were enforced between 42 and 65 days. Our results indicate that the net benefits of suppression policies to slow the spread of COVID-19 are positive and may be substantial. We discuss uncertainty surrounding several parameters and employ alternative methods for valuing mortality benefits, which also suggest that suppression measures had positive net benefits."
2021 Broughel, Kotrous. Posted here with permission. Document is under a Creative Commons license and requires proper attribution and noncommercial use to be shared: [https://creativecommons.org/licenses/by-nc-nd/4.0/]
PLoS ONE (2021), v.16 no.6