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Childhood vaccinations are an important input to disease prevention, but vaccination rates have declined over the last … impact. Anecdotal evidence on disease outbreaks suggests that they may prompt vaccination behavior. I use newly compiled data … vaccination rate increases among children at school entry following an outbreak in the year prior. A large outbreak in the county …
Persistent link: https://www.econbiz.de/10012456213
The global COVID-19 vaccination campaign is the largest public health campaign in history, with over 2 billion people … understood. Leveraging the staggered rollout of vaccines, we find that the vaccination campaign across 141 countries averted 2 … vaccination in each country proportional to its population, would have saved roughly 670,000 more lives. However, this …
Persistent link: https://www.econbiz.de/10014421238
Recent outbreaks of infectious pathogens such as Zika, Ebola, and COVID-19 have underscored the need for the dependable availability of vaccines against emerging infectious diseases (EIDs). The cost and risk of R&D programs and uniquely unpredictable demand for EID vaccines have discouraged...
Persistent link: https://www.econbiz.de/10012481795
Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock prices was milder among firms with (a) stronger pre-2020...
Persistent link: https://www.econbiz.de/10012482012
This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...
Persistent link: https://www.econbiz.de/10012464794
Externalities play a central role in most theories of economic growth. We argue that international externalities, in … have international knowledge externalities. When calibrated, the hybrid model does a surprisingly good job of generating …
Persistent link: https://www.econbiz.de/10012467678
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
We reexamine several bodies of data on the growth of output, labor, and capital, within the context of a model that admits the possibility of an externality to the capital input. The model is an augmented version of Paul Romer's (1987) reformulation of the Solow model. Unlike Romer, however, we...
Persistent link: https://www.econbiz.de/10012475847
It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon price (the proceeds from which are domestically retained) counters self-interest by incentivizing...
Persistent link: https://www.econbiz.de/10012456478
externalities are strong and bank franchise values are not too low, the private equilibrium can feature excess dividends relative to …
Persistent link: https://www.econbiz.de/10012458955