Health care demand price elasticies are often estimated from samples conditioned to include only sike people. This paper shows that not only may such estimates be statistically biased, but even when properly estimated they can only be interpreted as short-run price responses.

Although global economic activity is recovering and output in Europe and Central Asia (ECA) is expected to grow in 2021, containing COVID-19 remains a challenge in the region. Enterprise survey data for the emerging and developing countries in the region show that COVID-19 had a profound and...