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Covid-19 in unequal societies.

Constantino Hevia¹, Manuel Macera¹, Pablo Andrés Neumeyer^1,2

¹Universidad Torcuato Di Tella, Argentina.

Journal of Economic Dynamics & Control

|February 14, 2022

Summary

The COVID-19 pandemic disproportionately affected health and economic outcomes across different socioeconomic groups in Bogotá. Policy interventions could mitigate these unequal impacts.

Area of Science:

Epidemiology
Public Health
Health Economics

Background:

The COVID-19 pandemic has had profound and varied impacts on global populations.
Socioeconomic disparities can significantly influence vulnerability to and recovery from health crises.

Purpose of the Study:

To document the heterogeneous effects of COVID-19 on health and economic outcomes across socioeconomic strata in Bogotá.
To assess the distributional impact of the pandemic.
To evaluate potential policy counterfactuals.

Main Methods:

Utilized a heterogeneous agent quantitative dynamic general equilibrium model.
Intertwined the economic model with a behavioral epidemiological model.
Analyzed data specific to Bogotá.

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Main Results:

COVID-19's health and economic consequences varied significantly across different socioeconomic groups.
The pandemic exacerbated existing socioeconomic inequalities.

Conclusions:

The distributional impact of COVID-19 highlights the need for targeted policies.
Policy counterfactuals suggest that interventions can mitigate the pandemic's unequal effects on health and economy.