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Accelerating Vaccine Innovation for Emerging Infectious Diseases via Parallel Discovery
Barberio, Joseph; Becraft, Jacob; Ben Chaouch, Zied; … - National Bureau of Economic Research - 2022
We analyze the financial performance of a hypothetical portfolio of 120 mRNA vaccine candidates in the preclinical stage targeting 11 emerging infectious diseases. We calibrate the simulation parameters with input from domain experts in mRNA technology and an extensive literature review. We find...
Persistent link: https://www.econbiz.de/10013334345
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The Benefits and Costs of U.S. Employer COVID-19 Vaccine Mandates
Ferranna, Maddalena; Robinson, Lisa A.; Cadarette, Daniel; … - National Bureau of Economic Research - 2022
In 2021, the Biden Administration issued mandates requiring COVID-19 vaccinations for U.S. federal employees and contractors and for some healthcare and private sector workers. Although these mandates have been subject to legal challenges and some have been halted or delayed, rigorous appraisal...
Persistent link: https://www.econbiz.de/10013361993
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Investment in Preventive Care for Children of Middle Eastern Ancestry During the Trump Administration
Danagoulian, Shooshan; Fleming, Owen; Grossman, Daniel; … - National Bureau of Economic Research - 2024
Individuals of Middle Eastern and North African (MENA) ancestry in the US have been targeted by anti-immigrant and counterterrorism policies and have been the focus of vitriolic political rhetoric. Despite this, lack of data identifying MENA individuals has prevented systematic evaluation of the...
Persistent link: https://www.econbiz.de/10014635639
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Should Germany Have Built a New Wall? Macroeconomic Lessons from the 2015-18 Refugee Wave
Busch, Christopher - 2020
In 2015-2016 Germany experienced a wave of predominantly low-skilled refugee immigration. We evaluate its macroeconomic …
Persistent link: https://www.econbiz.de/10012481929
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The Eurocrisis : Muddling Through, or On the Way to a More Perfect Euro Union?
Aizenman, Joshua - 2014
institutions. The euro has operated as a currency without a state, under the dominance of Germany. This has so far allowed the euro … to achieve a number of design objectives, and this may continue, as long as Germany does not shirk its growing … responsibility for the euro's future. Germany's resilience and dominant size within the EU may explain its "muddling …
Persistent link: https://www.econbiz.de/10012458424
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Optimal Monetary Policy with Heterogeneous Agents : Discretion, Commitment, and Timeless Policy
Dávila, Eduardo; Schaab, Andreas - National Bureau of Economic Research - 2023
This paper characterizes optimal monetary policy in a canonical heterogeneous-agent New Keynesian (HANK) model with wage rigidity. Under discretion, a utilitarian planner faces the incentive to redistribute towards indebted, high marginal utility households, which is a new source of inflationary...
Persistent link: https://www.econbiz.de/10014226158
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Helicopter Drops and Liquidity Traps
Amador, Manuel; Bianchi, Javier - National Bureau of Economic Research - 2023
We show that if the central bank operates without commitment and faces constraints on its balance sheet, helicopter drops can be a useful stabilization tool during a liquidity trap. With commitment, even with balance sheet constraints, helicopter drops are irrelevant
Persistent link: https://www.econbiz.de/10014247967
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A Simple Model of a Central Bank Digital Currency
Mishra, Bineet; Prasad, Eswar S. - National Bureau of Economic Research - 2023
We develop a general equilibrium model that highlights the trade-offs between physical and digital forms of retail central bank money. The key differences between cash and central bank digital currency (CBDC) include transaction efficiency, possibilities for tax evasion, and, potentially,...
Persistent link: https://www.econbiz.de/10014250215
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Welfare Assessments with Heterogeneous Individuals
Dávila, Eduardo; Schaab, Andreas - National Bureau of Economic Research - 2022
This paper develops a new approach to make welfare assessments based on the notion of Dynamic Stochastic weights (DS-weights for short). For a large class of dynamic stochastic economies with heterogeneous individuals, we introduce an aggregate additive decomposition that satisfies desirable...
Persistent link: https://www.econbiz.de/10013435133
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u* = √uv
Michaillat, Pascal; Saez, Emmanuel - National Bureau of Economic Research - 2022
Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of labor--both jobseeking and recruiting. The...
Persistent link: https://www.econbiz.de/10013334429