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  1. Incentives for accelerating the production of Covid-19 vaccines in the presence of adjustment costs
    Author: Gros, Claudius; Gros, Daniel
    Published: 2021
    Publisher:  ifo Institute, Munich, Germany

    Delays in the availability of vaccines are costly as the pandemic continues. However, in the presence of adjustment costs firms have an incentive to increase production capacity only gradually. The existing contracts specify only a fixed quantity to... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 676
    Inter-library loan:
    No inter-library loan

     

    Delays in the availability of vaccines are costly as the pandemic continues. However, in the presence of adjustment costs firms have an incentive to increase production capacity only gradually. The existing contracts specify only a fixed quantity to be supplied over a certain period and thus provide no incentive for an accelerated buildup in capacity. A high price does not change this. The optimal contract would specify a decreasing price schedule over time which can replicate the social optimum.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/233523
    Series: EconPol policy brief ; Vol. 5, 33 (2021, February)
    Subjects: Coronavirus; Impfung; Produktionskapazität; Leistungsanreiz; USA
    Scope: 1 Online-Ressource (circa 19 Seiten), Illustrationen
  2. How fast must vaccination campaigns proceed in order to beat rising Covid-19 infection numbers?
    Author: Gros, Claudius; Gros, Daniel
    Published: 2021
    Publisher:  ifo Institute, Munich, Germany

    We derive an analytic expression describing how health costs and death counts of the Covid-19 pandemic change over time as vaccination proceeds. Meanwhile, the disease may continue to spread exponentially unless checked by Non Pharmacological... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 676
    Inter-library loan:
    No inter-library loan

     

    We derive an analytic expression describing how health costs and death counts of the Covid-19 pandemic change over time as vaccination proceeds. Meanwhile, the disease may continue to spread exponentially unless checked by Non Pharmacological Interventions (NPI). The key factors are that the mortality risk from a Covid-19 infection increases exponentially with age and that the sizes of age cohorts decrease linearly at the top of the population pyramid. Taking these factors into account, we derive an expression for a critical threshold, which determines the minimal speed a vaccination campaign needs to have in order to be able to keep fatalities from rising. Younger countries with fast vaccination campaigns find it substantially easier to reach this threshold than countries with aged population and slower vaccination. We find that for EU countries it will take some time to reach this threshold, given that the new, now dominant, mutations, have a significantly higher infection rate. The urgency of accelerating vaccination is increased by early evidence that the new strains also have a higher mortality risk [1]. We also find that protecting the over 60 years old, which constitute one quarter of the EU population, would reduce the loss of live by 95 percent.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/233524
    Series: EconPol policy brief ; Vol. 5, 34 (2021, March)
    Subjects: Coronavirus; Sterblichkeit; Impfung; Coping-Strategie; EU-Staaten
    Scope: 1 Online-Ressource (circa 18 Seiten), Illustrationen