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Articles by Deb, Furceri, Jiménez, Kothari, Ostry, Tawk

The economic effects of COVID-19 vaccines

December 16, 2021

Pragyan Deb, Davide Furceri, Daniel Jiménez, Siddharth Kothari, Jonathan D. Ostry, Nour Tawk 16 December 2021

The effectiveness of vaccines in reducing Covid-19 transmission is well established, but less is known about the effect of vaccine rollouts on economic activity. This column quantifies the economic effects using data on vaccines administered, containment measures, and indicators of economic activity. An increase in vaccination rates per capita has significant economic effects, as measured by increases in daily nitrogen dioxide emissions. Country-specific conditions affect the economic impact of vaccines, with lower economic gains in case of a severe outbreak or if containment measures are in place. Finally, the authors find evidence of

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COVID-19 vaccine rollouts: Drivers and effects on health outcomes

December 13, 2021

Pragyan Deb, Davide Furceri, Daniel Jiménez, Siddharth Kothari, Jonathan D. Ostry, Nour Tawk 13 December 2021

Vaccination is understood to be the way out of the COVID-19 pandemic and the economic crisis it engendered (Gopinath 2020). However, access to and uptake of COVID-19 vaccines, especially in the early phase, has been heterogeneous and uneven. Countries in North America and Europe started vaccinations earlier and are further along than regions such as Africa and the Middle East. Across income groups, advanced economies have vaccinated a much larger share of their populations than emerging and developing economies, on average.
Our empirical analysis (Deb et al. 2021a) uses cross-sectional variation in vaccination rates (as of July 2021) to

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