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The Psychological Gains from COVID-19 Vaccination: Who Benefits the Most?

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  • Bagues, Manuel
  • Dimitrova, Velichka

Abstract

We quantify 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 by 0.12 standard deviation, compensating for around one half of the overall decrease caused by the pandemic. This effect persists for at least two months, and it is associated with a decrease in the perceived likelihood of contracting COVID-19 and higher engagement in social activities. The improvement is 1.5 times larger for mentally distressed individuals, supporting the prioritization of this group in vaccination roll-outs.

Suggested Citation

  • Bagues, Manuel & Dimitrova, Velichka, 2021. "The Psychological Gains from COVID-19 Vaccination: Who Benefits the Most?," CEPR Discussion Papers 16694, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:16694
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    Cited by:

    1. is not listed on IDEAS
    2. Carmen Camacho & Chrysovalantis Vasilakis, 2023. "Antivax and inequality," Working Papers hal-03693126, HAL.
    3. Belmonte, A & Pickard, H, 2022. "Safe at Last? LATE Effects of a Mass Immunization Campaign on Households’ Economic Insecurity," CAGE Online Working Paper Series 604, Competitive Advantage in the Global Economy (CAGE).
    4. Emilio Depetris-Chauvin & Felipe González, 2023. "The Political Consequences of Vaccines: Quasi-experimental Evidence from Eligibility Rules," Documentos de Trabajo 572, Instituto de Economia. Pontificia Universidad Católica de Chile..
    5. Fetzer, Thiemo, 2021. "Measuring the Epidemiological Impact of a False Negative: Evidence from a Natural Experiment," CAGE Online Working Paper Series 596, Competitive Advantage in the Global Economy (CAGE).
    6. Carmen Camacho & Chrysovalantis Vasilakis, 2024. "Transmissible diseases, vaccination, and inequality," PSE-Ecole d'économie de Paris (Postprint) halshs-04805658, HAL.
    7. , 2023. "The Political Consequences of Vaccines: Quasi-experimental Evidence from Eligibility Rules," Working Papers 953, Queen Mary University of London, School of Economics and Finance.

    More about this item

    Keywords

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    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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