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Accelerating the production of Covid-19 vaccines: The role of adjustment costs

Experience with Covid-19 has shown how vaccinating the population as quickly as possible can be of paramount importance, however with fixed contracts the benefits for early delivery of such vaccines are huge for society, but non-existent for suppliers. Daniel Gros (Centre for European Policy Studies) talks to Tim Philips about why vaccine contracts should have incentives for accelerated production built into them.The paper discussed can be found here:Covid Economics Issue 77: Incentives for accelerating the production of Covid-19 vaccines in the presence of adjustment costs by Claudius Gros & Daniel Gros