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mask-wearing serve, in part, as substitutes for social distancing. Provision of a vaccination is the only intervention that … unambiguously reduces both the peak infection level and the herd immunity level of infection. Adoption of vaccination remains … limited in a decentralized equilibrium, with resulting reproductive rate of disease Rt > 1 at the conclusion of vaccination …
Persistent link: https://www.econbiz.de/10012696372
cross-disease effects by using data on neo-natal tetanus vaccination through the Expanded Programme on Immunization of the …
Persistent link: https://www.econbiz.de/10012473661
We discuss and review literature on the macroeconomic effects of epidemics and pandemics since the late 20th century. First, we cover the role of health in driving economic growth and well-being and discuss standard frameworks for assessing the economic burden of infectious diseases. Second, we...
Persistent link: https://www.econbiz.de/10012481305
epidemic model and link valuations to infections via an asset-pricing framework with vaccines. Infections lower earnings growth …
Persistent link: https://www.econbiz.de/10012481801
We build a minimalist model of the macroeconomics of a pandemic, with two essential components. The first is productivity-related: if the virus forces firms to shed labor beyond a certain threshold, productivity suffers. The second component is a credit market imperfection: because lenders...
Persistent link: https://www.econbiz.de/10012481811
Screening interventions can produce very different treatment outcomes, depending on the reasons why patients had been … evaluating the impact of screening on treatment uptake. We apply these insights to several salient empirical examples that … currently diagnosed patients in important ways, leading to lower predicted uptake of recommended treatment if these patients …
Persistent link: https://www.econbiz.de/10012453367
We survey the recent literature on learning in financial markets. Our main theme is that many financial market phenomena that appear puzzling at first sight are easier to understand once we recognize that parameters in financial models are uncertain and subject to learning. We discuss phenomena...
Persistent link: https://www.econbiz.de/10012464003
Malawian epidemic. In the developed framework, people select between different sexual practices while knowing the inherent risk …
Persistent link: https://www.econbiz.de/10012459709
Traditional economic models of vaccination assume that agents free-ride on the vaccination decision of others. These … models show that private vaccination rates are always below the social optimal and even large subsidies cannot achieve … conform to the vaccination decisions of their peers. In this model privately optimal vaccination rates can be higher or lower …
Persistent link: https://www.econbiz.de/10012459135
This paper develops behavioral relationships explaining investors' demands for long-term bonds, using three alternative hypotheses about investors' expectations of future bond prices (yields). The results, based on U.S. 'data for six major categories of bond market investors, consistently...
Persistent link: https://www.econbiz.de/10012478678