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Abstract
In many countries, the HIV/AIDS epidemic has attained a scale at which the impact on the economy and, even more broadly, on societies, is both evident and very serious. Through its broad economic impact, HIV/AIDS thus becomes an issue for macroeconomic analysis, and policies to prevent the spread of the virus have direct implications for key economic indicators such as economic growth and income per capita,1 and for economic development more generally. However, because the impact is very uneven across individuals or households, an analysis that captures only the main aggregate economic variables would miss many of the microeconomic effects of HIV/AIDS on living standards, which also matter for public policy and which, in turn, affect the main aggregate economic variables, for example through the accumulation of physical and human capital.
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