Welfare Implications of Hiv/Aids

Crafts, Nicholas; Haacker, Markus

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Welfare Implications of Hiv/Aids

IMF Working Paper No. 03/118

22 Pages Posted: 29 Jan 2006

See all articles by Nicholas Crafts

Nicholas Crafts

University of Warwick; Centre for Economic Policy Research (CEPR)

Markus Haacker

International Monetary Fund (IMF) - Research Department

Date Written: June 2003

Abstract

The paper evaluates the impact of HIV/AIDS on welfare in several countries affected by the HIV/AIDS epidemic. Unlike studies focusing on the impact of HIV/AIDS on GDP per capita, we evaluate the impact of increased mortality using estimates of the value of statistical life. Our results illustrate the catastrophic impact of HIV/AIDS in the worst-affected countries and suggest that studies focusing on GDP and income per capita capture only a very small proportion of the welfare impact of HIV/AIDS.

Keywords: Welfare, HIV/AIDS, value of statistical life, Africa

JEL Classification: I10, I30, I31, N37, O10

Suggested Citation: Suggested Citation

Crafts, Nicholas and Haacker, Markus, Welfare Implications of Hiv/Aids (June 2003). IMF Working Paper No. 03/118, Available at SSRN: https://ssrn.com/abstract=879194