A sustainable pandemic response: The impact of COVID-19 vaccination coverage on economic policy uncertainty

Shi Li, Meng Li and Rongsha Fu

International Review of Economics & Finance, 2024, vol. 92, issue C, 316-332

Abstract: The rise in Economic Policy Uncertainty (EPU) is a manifestation of the unsustainability of response policies to COVID-19. We used panel data from 21 countries to investigate the impact of COVID-19 vaccination coverage on EPU. The results showed that vaccination significantly reduced the EPU. Reducing the spread of the pandemic was not the mechanism. Further analysis indicated that the active response from the government has enhanced this effect, as vaccination has altered unsustainable issues. Our study suggests that vaccines are not alternatives to intervention policies but are complementary, and policymakers should opt for a policy mix.

Keywords: Economic policy uncertainty; COVID-19; Vaccination coverage; Government response (search for similar items in EconPapers)
JEL-codes: E65 F42 F50 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:92:y:2024:i:c:p:316-332

DOI: 10.1016/j.iref.2024.02.055

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