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Cross-Regional Heterogeneity in Health and Economic Outcomes during the COVID-19 Pandemic: An Analysis of Japan

Author

Listed:
  • Shotaro Beppu

    (University of Tokyo)

  • Daisuke Fujii

    (University of Tokyo and RIETI)

  • Hiroyuki Kubota

    (University of Tokyo)

  • Kohei Machi

    (University of Tokyo)

  • Yuta Maeda

    (University of Tokyo)

  • Taisuke Nakata

    (University of Tokyo)

  • Haruki Shibuya

    (University of Tokyo)

Abstract

Health and macroeconomic outcomes varied substantially across prefectures in Japan during the COVID-19 crisis. Using an estimated macro-epidemiological model as well as the idea of revealed preference, we compute the marginal rate of substitution (MRS) and the conditional trade-off curve between health and economic outcomes in each prefecture. We find that there is a large heterogeneity in the MRS as well as the location and shape of the conditional trade-off curve.

Suggested Citation

  • Shotaro Beppu & Daisuke Fujii & Hiroyuki Kubota & Kohei Machi & Yuta Maeda & Taisuke Nakata & Haruki Shibuya, 2022. "Cross-Regional Heterogeneity in Health and Economic Outcomes during the COVID-19 Pandemic: An Analysis of Japan," CARF F-Series CARF-F-540, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    • Handle: RePEc:cfi:fseres:cf540
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