This paper evaluates the global welfare consequences of increases in mortality and poverty generated by the Covid-19 pandemic. Increases in mortality are measured in terms of the number of years of life lost (LY) to the pandemic. Additional years spent in poverty (PY) are conservatively...

The Covid-19 pandemic has brought about massive declines in wellbeing around the world. This paper seeks to quantify and compare two important components of those losses - increased mortality and higher poverty - using years of human life as a common metric. We estimate that almost 20 million...

This paper evaluates the global welfare consequences of increases in mortality and poverty generated by the Covid-19 pandemic. Increases in mortality are measured in terms of the number of years of life lost (LY) to the pandemic. Additional years spent in poverty (PY) are conservatively...

There is growing support for using global income poverty measures that account for both own income and relative income. The World Bank has adopted a global line that depends on both. Unfortunately, with preference heterogeneity over own and relative income, the standard poverty indices are not...