2021
DOI: 10.1108/jhr-09-2020-0406
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Estimating worldwide costs of premature mortalities caused by COVID-19

Abstract: PurposeThe purpose of this paper is to provide an estimate of the costs of premature mortality caused by the COVID-19 pandemic.Design/methodology/approachUsing COVID-19 pandemic-derived mortality data for November 9, 2020 (globally 1,303,215 deaths) and applying a country-based value of statistical life (VSL), the worldwide cost of premature mortality was assessed. The cost was assessed based on income groups until November 9, 2020 and projected into the future until March 1, 2021 using three scenarios from th… Show more

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Cited by 3 publications
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“… in time was evaluated by multiplying the total number of close contacts during the infectious period for every new confirmed case in age group ( ) and accounting for the average income of age group during the isolation period ( ), the rate of labor losses during the isolation period ( ), and the estimated number of confirmed cases ( ). Third, the value of a statistical life (VSL) indicates the statistical death cost as dollar units per statistical death during life expectancy 37 . The cost of death for age group in time was calculated by multiplying VSL with the remaining life expectancy for those who died of COVID-19.…”
Section: Methodsmentioning
confidence: 99%
“… in time was evaluated by multiplying the total number of close contacts during the infectious period for every new confirmed case in age group ( ) and accounting for the average income of age group during the isolation period ( ), the rate of labor losses during the isolation period ( ), and the estimated number of confirmed cases ( ). Third, the value of a statistical life (VSL) indicates the statistical death cost as dollar units per statistical death during life expectancy 37 . The cost of death for age group in time was calculated by multiplying VSL with the remaining life expectancy for those who died of COVID-19.…”
Section: Methodsmentioning
confidence: 99%