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We review economic arguments for using public policy to accelerate vaccine supply during a pandemic. Rapidly vaccinating a large share of the global population helps avoid economic, mortality, and social losses, which in the case of Covid-19 mounted into trillions of dollars. However,...
Persistent link: https://www.econbiz.de/10013334410
Infectious disease is currently the main cause of mortality in the world and has been even more important historically. This paper reviews recent research in economic epidemiology. Specifically, it discusses the occurrence of infectious diseases and the effects of public health interventions...
Persistent link: https://www.econbiz.de/10012471763
payoffs, or because of informational externalities. In the first case, inefficiency manifests itself in excessive non …
Persistent link: https://www.econbiz.de/10012465056
We construct a model of offshoring with externalities and firm heterogeneity. Due to the presence of externalities … externalities can help explain the dynamic process of offshoring, where the most productive firms offshore first and the others …
Persistent link: https://www.econbiz.de/10012466954
of rational addiction are crucial for the design of public policy. In particular, accounting for peer externalities …
Persistent link: https://www.econbiz.de/10012469460
Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...
Persistent link: https://www.econbiz.de/10012470046
Numerous recent studies have indicated that interactions with a tax-distorted labor market increase the cost of pollution regulation. However, these studies have made restrictive assumptions regarding individual preferences and have ignored key links between pollution, human health, and labor...
Persistent link: https://www.econbiz.de/10012470669
externalities. First, an undercapitalized country borrows too much since each firm does not internalize that an increase in …
Persistent link: https://www.econbiz.de/10012457863
outcomes are inefficient. In the case of negative externalities, Pigouvian taxes are one way to correct this market failure …
Persistent link: https://www.econbiz.de/10012459812
costs of subsidizing corporate debt from the existing literature. Our theory also sheds light on why the IRS considers …
Persistent link: https://www.econbiz.de/10012460738