by Summary:
Ökonomenstimme, 3 April 2020. HTML. Shorter version published in NZZ. The aggregate Covid-19 shock calls for transfers of the type a pandemic insurance would have brought about. But we must not distort relative prices. They have to reflect scarcity, to provide incentives to overcome it. (This applies within countries but also across.)
Topics:
Dirk Niepelt considers the following as important: Contributions, coronavirus, COVID-19, Incentive, Redistribution, Risk sharing, Scarcity, Switzerland, Transfer
This could be interesting, too:
Ökonomenstimme, 3 April 2020. HTML. Shorter version published in NZZ. The aggregate Covid-19 shock calls for transfers of the type a pandemic insurance would have brought about. But we must not distort relative prices. They have to reflect scarcity, to provide incentives to overcome it. (This applies within countries but also across.)
Topics:
Dirk Niepelt considers the following as important: Contributions, coronavirus, COVID-19, Incentive, Redistribution, Risk sharing, Scarcity, Switzerland, Transfer
This could be interesting, too:
Dirk Niepelt writes The New Keynesian Model and Reality
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Claudio Grass writes Interview with Executive Global: “The Return of Marxism in the West”
Ökonomenstimme, 3 April 2020. HTML. Shorter version published in NZZ.
The aggregate Covid-19 shock calls for transfers of the type a pandemic insurance would have brought about. But we must not distort relative prices. They have to reflect scarcity, to provide incentives to overcome it. (This applies within countries but also across.)