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Childhood vaccinations are an important input to disease prevention, but vaccination rates have declined over the last decade due largely to parental fears about vaccine dangers. Education campaigns on the safety of vaccines seem to have little impact. Anecdotal evidence on disease outbreaks...
Persistent link: https://www.econbiz.de/10012456213
, benefits, and risks listed firms in the US and over 80 other countries associate with the spread of Covid-19 and other epidemic … diseases. We identify which firms expect to gain or lose from an epidemic disease and which are most affected by the associated … uncertainty as a disease spreads in a region or around the world. As Covid-19 spread globally in the first quarter of 2020, firms …
Persistent link: https://www.econbiz.de/10012481927
The Covid-19 pandemic has motivated a myriad of studies and proposals on how economic policy should respond to this colossal shock. But in this debate it is seldom recognized that the health shock is not entirely exogenous. Its magnitude and dynamics themselves depend on economic policies, and...
Persistent link: https://www.econbiz.de/10012481977
Does social distancing harm innovation? We estimate the effect of non-pharmaceutical interventions (NPIs)--policies that restrict interactions in an attempt to slow the spread of disease--on local invention. We construct a panel of issued patents and NPIs adopted by 50 large US cities during the...
Persistent link: https://www.econbiz.de/10012482371
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
We answer the question posed by the title by specifying and estimating a simple dynamic model of prices, wages, and short-run and long-run inflation expectations. The estimated model allows us to analyze the direct and indirect effects of product-market and labor-market shocks on prices and...
Persistent link: https://www.econbiz.de/10014322804
The global COVID-19 vaccination campaign is the largest public health campaign in history, with over 2 billion people fully vaccinated within the first 8 months. Nevertheless, the impact of this campaign on all-cause mortality is not well understood. Leveraging the staggered rollout of vaccines,...
Persistent link: https://www.econbiz.de/10014421238
The idea that wages rise relative to alternatives as job seniority accumulates is the foundation of the theory of specific human capital, as well as other widely accepted theories of compensation. The fact that persons with longer job tenures typically earn higher wages tends to support these...
Persistent link: https://www.econbiz.de/10012475740
The financialization view is that increased trading in commodity futures markets is associated with increases in the growth rate and volatility of commodity spot prices. This view gained credence because in the 2000s trading volume increased sharply and many commodity prices rose and became more...
Persistent link: https://www.econbiz.de/10012453945
We use variance decompositions from high-dimensional vector autoregressions to characterize connectedness in 19 key commodity return volatilities, 2011-2016. We study both static (full-sample) and dynamic (rolling-sample) connectedness. We summarize and visualize the results using tools from...
Persistent link: https://www.econbiz.de/10012454997