Q. What is the core of your new research on managing the pandemic most sustainably?
A. My research is with a team of collaborators led by Michael Kremer. Our main point is that Covid-19 vaccine capacity is enormously valuable because it enables the pandemic to be ended much sooner. The economic value of this is in fact astonishingly large — we estimate that each course of vaccine capacity (which is two doses per person) is actually worth 6,000 dollars on average while it costs just a few dollars.
This is so valuable because the global economy has suffered enormously during the pandemic with costs in four major dimensions — economic, hea lth, human capital and the loss of social happiness and joy.
Vaccination is the way out of this situation. Hence,…