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Vaccines and variants: A comment on “optimal age-based vaccination and economic mitigation policies for the second phase of the Covid-19 pandemic”

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  • Brotherhood, Luiz
  • Santos, Cezar

Abstract

This note discusses age-specific vaccination programs designed to curb the Covid-19 pandemic. We first provide some comments on the analysis by Glover et al. (2021b) and point directions where further research can be carried out. Additionally, we adapt the framework from Brotherhood et al. (2021) to assess the effects of different vaccination schemes when more infectious variants can emerge when more infections take place. We find that policy prescriptions crucially depend on taking individual behavioral responses into account and on whether variants can appear.

Suggested Citation

  • Brotherhood, Luiz & Santos, Cezar, 2022. "Vaccines and variants: A comment on “optimal age-based vaccination and economic mitigation policies for the second phase of the Covid-19 pandemic”," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
    • Handle: RePEc:eee:dyncon:v:140:y:2022:i:c:s0165188922000082
    DOI: 10.1016/j.jedc.2022.104303
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    References listed on IDEAS

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    1. Glover, Andrew & Heathcote, Jonathan & Krueger, Dirk, 2022. "Optimal age-Based vaccination and economic mitigation policies for the second phase of the covid-19 pandemic," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
    2. Martin S Eichenbaum & Sergio Rebelo & Mathias Trabandt, 2021. "The Macroeconomics of Epidemics [Economic activity and the spread of viral diseases: Evidence from high frequency data]," Review of Financial Studies, Society for Financial Studies, vol. 34(11), pages 5149-5187.
    3. Jeremy Greenwood & Philipp Kircher & Cezar Santos & Michèle Tertilt, 2019. "An Equilibrium Model of the African HIV/AIDS Epidemic," Econometrica, Econometric Society, vol. 87(4), pages 1081-1113, July.
    4. Michael Kremer, 1996. "Integrating Behavioral Choice into Epidemiological Models of AIDS," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(2), pages 549-573.
    5. Farboodi, Maryam & Jarosch, Gregor & Shimer, Robert, 2021. "Internal and external effects of social distancing in a pandemic," Journal of Economic Theory, Elsevier, vol. 196(C).
    6. Michael Kremer, 1996. "Integrating Behavioral Choice into Epidemiological Models of the AIDS Epidemic," NBER Working Papers 5428, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Brotherhood, Luiz & Kircher, Philipp & Santos, Cezar & Tertilt, Michèle, 2023. "Optimal Age-based Policies for Pandemics: An Economic Analysis of Covid-19 and Beyond," IDB Publications (Working Papers) 13295, Inter-American Development Bank.

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    More about this item

    Keywords

    Covid-19; Vaccines; Variants;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • I10 - Health, Education, and Welfare - - Health - - - General
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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