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The psychological gains from COVID-19 vaccination

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  • Bagues, Manuel
  • Dimitrova, Velichka

Abstract

We estimate the impact of COVID-19 vaccination on psychological well-being using information from a large-scale panel survey representative of the UK population. Exploiting exogenous variation in the timing of vaccinations, we find that vaccination increases psychological well-being (GHQ-12) by 0.12 standard deviations, compensating for one-half of the deterioration in mental health caused by the pandemic. This improvement persists for at least two months, and is linked to higher engagement in social activities and a decrease in the self-reported likelihood of contracting COVID-19. The main beneficiaries are individuals who became mentally distressed during the pandemic, supporting their prioritization in vaccination roll-outs. Conversely, individuals who harbored concerns about potential vaccine side effects show no improvement in psychological well-being upon vaccination, underscoring the importance of public confidence in vaccine safety and efficacy. Accounting for the improvement in psychological well-being increases the benefits of vaccination by around 50%.

Suggested Citation

  • Bagues, Manuel & Dimitrova, Velichka, 2025. "The psychological gains from COVID-19 vaccination," Journal of Public Economics, Elsevier, vol. 242(C).
    • Handle: RePEc:eee:pubeco:v:242:y:2025:i:c:s0047272725000027
    DOI: 10.1016/j.jpubeco.2025.105304
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    More about this item

    Keywords

    Psychological well-being; COVID-19 vaccination; Instrumental variables and regression discontinuity design;
    All these keywords.

    JEL classification:

    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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