Globalization and pandemics Pol Antràs, Stephen J. Redding, Esteban Rossi-Hansberg
By: Antràs, Pol
.
Contributor(s): Redding, Stephen | Rossi Hansberg, Esteban.
Material type: 
ArticleSubject(s): GLOBALIZACION (ECONOMIA) | PANDEMIAS | COMERCIO | TURISMO | MODELOS ECONOMETRICOS
In:
The American Economic Review v. 113, n. 4, April 2023, p. 939-981 Summary: We provide theory and evidence on the relationship between globalization and pandemics. Business travel facilitates trade and travel leads to human interactions that transmit disease. Trade-motivated travel generates an epidemiological externality across countries. If infections lead to deaths, or reduce individual labor supply, we establish a general equilibrium social distancing effect, whereby increases in relative prices in unhealthy countries reduce travel to those countries. If agents internalize the threat of infection, we show that their behavioral responses lead to a reduction in travel that is larger for higher-trade-cost locations, which initially reduces the ratio of trade to output.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Artículos | IEF | IEF | OP 234/2023/4-1 (Browse shelf) | Available | OP 234/2023/4-1 |
Browsing IEF Shelves Close shelf browser
| No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | No cover image available | ||
| OP 234/2023/3 The American Economic Review | OP 234/2023/3-1 Partisanship and fiscal policy in economic unions | OP 234/2023/4 The American Economic Review | OP 234/2023/4-1 Globalization and pandemics | OP 234/2023/5 The American Economic Review | OP 234/2023/5(Congreso anual) The American Economic Review | OP 234/2023/5(Congreso)-1 Papers and proceedings of the One Hundred-Fifth Annual Meeting of the American Economic Association |
Resumen.
Bibliografía.
We provide theory and evidence on the relationship between globalization and pandemics. Business travel facilitates trade and travel leads to human interactions that transmit disease. Trade-motivated travel generates an epidemiological externality across countries. If infections lead to deaths, or reduce individual labor supply, we establish a general equilibrium social distancing effect, whereby increases in relative prices in unhealthy countries reduce travel to those countries. If agents internalize the threat of infection, we show that their behavioral responses lead to a reduction in travel that is larger for higher-trade-cost locations, which initially reduces the ratio of trade to output.
Click on an image to view it in the image viewer
There are no comments for this item.