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economic activity. The increase in economic activity for each vaccination group (measured by consumption) factors into the valuation of vaccinating that group.

For historical consumption data, we rely on the Centre for Monitoring Indian Economy’s Consumer Pyramids Database, a population-representative panel data set with monthly observations sampling 174,000 households in India. Since this data is at the household level, we disaggregate the household level data to age bins using the OECD’s standard formula for this problem.

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