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


  • Bagues, Manuel

    (University of Warwick)

  • Dimitrova, Velichka

    (University of Warwick)


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.

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  • Bagues, Manuel & Dimitrova, Velichka, 2021. "The Psychological Gains from COVID-19 Vaccination: Who Benefits the Most?," IZA Discussion Papers 14826, Institute of Labor Economics (IZA).
  • Handle: RePEc:iza:izadps:dp14826

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    Cited by:

    1. Carmen Camacho & Chrysovalantis Vasilakis, 2023. "Antivax and inequality," PSE Working Papers hal-03693126, HAL.
    2. 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).
    3. 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).
    4. Carmen Camacho & Chrysovalantis Vasilakis, 2023. "Antivax and inequality," Working Papers hal-03693126, HAL.
    5. , 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.

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    More about this item


    psychological well-being; COVID-19; vaccination;
    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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