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Designing the Financial Tools to Promote Universal Access to AIDS Care

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Author Info

  • Patarick Leoni

    ()
    (Economics Department, National University of Ireland, Maynooth)

  • Stephane Luchini
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    Abstract

    We argue that reluctance to invest in drug treatments to fight the AIDS epidemics in developing countries is largely motivated by severe losses occurring from the future albeit uncertain appearance of a curative vaccine. We design a set of securities generating full insurance coverage against such losses, while achieving full risk-sharing with vaccine development agencies. In a general equilibrium framework, we show that those securities are demanded to improve social welfare in developing countries, to increase current investment in treatments and the provision of public goods. Even though designed foi AIDS, those securities can also be applied to other epidemics such as Malaria and Tuberculosis.

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    File URL: http://economics.nuim.ie/sites/economics.nuim.ie/files/working-papers/N1711106.pdf
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    Bibliographic Info

    Paper provided by Department of Economics, Finance and Accounting, National University of Ireland - Maynooth in its series Economics, Finance and Accounting Department Working Paper Series with number n1711106.

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    Length: 36 pages
    Date of creation: 2006
    Date of revision:
    Handle: RePEc:may:mayecw:n1711106

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    Postal: Maynooth, Co. Kildare
    Phone: 353-1-7083728
    Fax: 353-1-7083934
    Web page: http://economics.nuim.ie
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    Related research

    Keywords: HIV/Aids funding; security design; therapeutic innovation; health underinvestment; HIV/Aids vaccine;

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    1. Michael Kremer & Edward Miguel & Rebecca Thornton, 2009. "Incentives to Learn," The Review of Economics and Statistics, MIT Press, vol. 91(3), pages 437-456, August.
    2. Palmer, Stephen & Smith, Peter C., 2000. "Incorporating option values into the economic evaluation of health care technologies," Journal of Health Economics, Elsevier, vol. 19(5), pages 755-766, September.
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