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Vaccines and the Covid-19 pandemic: lessons from failure and success
[‘Many Say They’re Confused About Whether, When to Get Second Booster’]

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  • Scott Duke Kominers
  • Alex Tabarrok

Abstract

The losses from the global Covid-19 pandemic have been staggering—trillions in economic costs, on top of significant losses of life, health, and well-being. The world made significant and successful investments in vaccines to mitigate the pandemic, yet there were missed opportunities, as well. We review what has been learnt about the value of vaccines, the speed at which vaccines can be developed, and the optimal and ethical approaches to vaccine distribution, as well as other issues related to pandemic and emergency preparedness. Surprisingly, spending on vaccines remains far below that which would be justified by the social return. We remain poorly prepared for future pandemics and other emergencies.

Suggested Citation

  • Scott Duke Kominers & Alex Tabarrok, 2022. "Vaccines and the Covid-19 pandemic: lessons from failure and success [‘Many Say They’re Confused About Whether, When to Get Second Booster’]," Oxford Review of Economic Policy, Oxford University Press, vol. 38(4), pages 719-741.
  • Handle: RePEc:oup:oxford:v:38:y:2022:i:4:p:719-741.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grac036
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    References listed on IDEAS

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    1. Susan Athey & Juan Camilo Castillo & Esha Chaudhuri & Michael Kremer & Alexandre Simoes Gomes & Christopher M Snyder, 2022. "Expanding capacity for vaccines against Covid-19 and future pandemics: a review of economic issues [‘Seven Finance & Trade Lessons from COVID-19 for Future Pandemics’]," Oxford Review of Economic Policy, Oxford University Press, vol. 38(4), pages 742-770.
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    1. Emily Cameron-Blake & Helen Tatlow & Bernardo Andretti & Thomas Boby & Kaitlyn Green & Thomas Hale & Anna Petherick & Toby Phillips & Annalena Pott & Adam Wade & Hao Zha, 2023. "A panel dataset of COVID-19 vaccination policies in 185 countries," Nature Human Behaviour, Nature, vol. 7(8), pages 1402-1413, August.

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