Special Covid-19 Series, Issue #27

Autore : Action Institute

Data: 15-03-2021

Tipo: Other

Tematica: Action Institute



Hello, Action Institute Community!

While the COVID-19 pandemic is hurting the global economy, we at Action Institute aim at delivering a whole-rounded perspective, cutting through the noise.
Our weekly Special series approaches the effects of the virus from different perspectives: from medical facts to health policy, from economic policy to macroeconomic issues, from politics to financial markets, from technology to the impact on businesses, and more. We encourage our esteemed readers to provide us with feedback and suggestions.

This weekly issue proposes a selection of papers and articles focused on (i) Medical Facts and (ii) Macroeconomic Issues.




“Medicine is a science of uncertainty and an art of probability.”, William Osler


 “Some Covid-19 Vaccines Are Effective After One Dose, Can Be Stored in Normal Freezers, Data Show” (WSJ, Jared S. Hopkins and Bojan Pancevski, February 19th, 2021). According to some studies, BioNTech-Pfizer vaccine is shown to generate a strong response with one dose and to maintain potency in standard freezers for two weeks. These findings could boost arguments in favor of delaying the second dose of the two-shot vaccine. They could also have substantial implications on vaccine policy and distribution around the world, simplifying the logistics of distribution.

 “COVID-19 Vaccines Work. Here’s the Real-World Proof” (Time, Alice Park, February 24th, 2021). This column reviews some encouraging data on the COVID-19 vaccine efficacy. Researches show that vaccines are effective in protecting against infection, lowering people’s chances of getting sick with the disease—especially severe disease—and dropping COVID-19 hospitalization rates.

 “Face-masks can give the immune system a helpful hand” (The Economist, March 6th, 2021). Face-masks help reduce the spread of sars-cov-2, the virus that causes COVID-19. Moreover, several studies have reported the more surprising finding that, even if wearers do become infected, their disease is usually milder. According to the researchers, besides filtering out at least some of the viral particles floating about in the air, masks help keep a person’s mucus levels healthily high.



“Economics has never been a science – and it is even less now than a few years ago.”, Paul Samuelson


 “The impact of COVID-19 on the Internal Market” (Bruegel, J. Scott Marcus et al., March 1st, 2021). This research paper studies the impact of COVID-19 crisis on the European Union’s Internal Market and consumer protection. It analyses the impacts of the different measures introduced at the national and EU level to mitigate the consequences of the pandemic and advises on what further measures should be introduced to reinforce the EU’s Internal Market resilience.

 “The EU’s fiscal stance, its recovery fund, and how they relate to the fiscal rules” (Bruegel, Zsolt Darvas and Guntram B. Wolff, March 4th, 2021). This article analyses the impact of Next Generation EU on the Union’s currently suspended fiscal rules. It concludes that, if not treated as national deficit or debt, joint EU borrowing will substantially ease rules-based fiscal adjustment needs in southern and eastern Europe, but not in western and northern Europe.

 “When and how to unwind COVID support measures to the banking system? (Bruegel, Alexander Lehmann, March 9th, 2021). This paper examines regulatory measures and supervisory practices that have supported public guarantee schemes and moratoria in euro-area countries, with a particular focus on accounting practices and the treatment of non-performing loans. The author identifies several undesirable effects and examines how soon policies can be normalised.

 What can the ECB achieve in a lockdown recession?” (CEPS, Daniel Gros and Farzaneh Shamsfakhr, March 12th, 2021). The following article analyses the characteristics of the current recession caused by government-imposed lockdowns. Due to the different impacts of the recession on different sectors, the authors conclude that the ECB can do little to stimulate the European economy as monetary policy is ineffective against sectoral issues.




Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.

Herbert Hoover […]


Good health is essential to social and economical development and it empowers all of the public sectors.

World Health Organization […]


Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.

Peter Drucker […]

Human Capital

Talent is a source from which water flows constantly renewed. But this source loses its value unless it is properly used.

Ludwig Wittgenstein […]