Using daily US county-level data on consumption, employment, mobility, and the coronavirus disease 2019 (COVID-19) cases, this paper investigates the welfare costs of COVID-19. The investigation is achieved by using implications of a model, where there is a trade-off between consumption and COVID-19 cases that are both determined by the optimal mobility decision of individuals. The empirical results show evidence for about 11% of an average (across days) reduction of welfare during the sample period between February and December 2020 for the average county. There is also evidence for heterogeneous welfare costs across US counties and days, where certain counties have experienced welfare reductions up to on average across days and up to in late March 2020 that are further connected to the socioeconomic characteristics of the US counties.

中文翻译：

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COVID-19 的福利费用：来自美国各县的证据

本文使用美国县级有关消费、就业、流动性和 2019 年冠状病毒病 (COVID-19) 病例的每日数据，调查了 COVID-19 的福利成本。该调查是通过使用模型的含义来实现的，其中消费和 COVID-19 病例之间存在权衡，这两者都由个人的最佳流动决策决定。实证结果显示，在 2020 年 2 月至 2020 年 12 月的样本期间，平均县的福利平均（跨天）减少了约 11%。也有证据表明美国各县和天的福利成本不同，其中某些县的平均福利减少了天数和2020 年 3 月下旬，这与美国各县的社会经济特征进一步相关。