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) Health Policy and (ii) Macroeconomic Issues.

“In Public Health, honesty is worth a lot more than hope.”, The Economist.

 “The secret sauce behind Israel’s successful COVID-19 vaccination program” (Brookings, Dany Bahar, January 5th, 2021). This article assesses the critical factors that brought Israel at the top of the list of COVID-19 vaccination efforts. The author suggests that Israel’s vast health infrastructure, developed through heavy public investments, has allowed the country to implement a massive immunization campaign.

 “A ‘bottom-up’ approach for COVID-19 vaccines” (Vox.eu, Anita Shet, Baldeep K. Dhaliwal, David Bloom, January 8th, 2021). The level of mistrust surrounding the COVID-19 vaccines is deeply concerning. According to the authors, a ‘bottom-up’ approach to administering the vaccines is critical for rebuilding trust and addressing inequities.

 “A matter of life and death: governments must speed up vaccination” (Bruegel, Uri Dadush, January 13th, 2021). COVID-19 vaccination in Europe and the United States is moving too slowly. In order to effectively allocate the resources, governments should define clear priorities, by targeting those most at risk, and adopt a managerial approach to administering the vaccines.

 “What do vaccination passports mean for Europe?” (Bruegel, Lionel Jeanrenaud, Mario Mariniello and Guntram B. Wolff, January 20th, 2021). A growing number of countries, including the EU, have been considering the introduction of so-called ‘vaccination passports’. This column argues that the acceptance of this measure depends on whether the vaccination allocation is perceived as fair.

“Economics has never been a science – and it is even less now than a few years ago.”, Paul Samuelson
 
 “Lagarde warns against early tightening of stimulus efforts” (FT, Martin Arnold, January 14th, 2021). In light of the possible early signs of economic recovery this year, Christine Lagarde warns governments and central banks about the risks linked to an early tightening of the stimulus.

 “Lockdowns fuel fears of double-dip recession in eurozone” (FT, Valentina Romei, January 17th, 2021). This article illustrates how, according to data indicators, eurozone nations’ increasing restrictions to tackle COVID-19 pandemic have significantly slowed economic activity, fuelling fears of a double-dip recession in the European-bloc.

 “The impact of Covid-19 on productivity” (Vox.eu, Nicholas Bloom, Philip Bunn, Paul Mizen, Pawel Smietanka, Gregory Thwaites, January 18th, 2021). The COVID-19 shock has had asymmetric effects across sectors of the economy. The authors assess how the spread of the virus and measures to contain it are likely to affect total factor productivity.