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Safe at Last? LATE Effects of a Mass Immunization Campaign on Households’ Economic Insecurity

Author

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  • Belmonte, A

    (University of Urbino and CAGE)

  • Pickard, H

    (Newcastle University)

Abstract

We study the effects of receiving immunization from Covid-19 on households’ economic insecurity. To provide causal estimates we use a fuzzy regression discontinuity design (RDD) which takes advantage of the United Kingdom’s immunization plan. The plan was primarily based on age, granting differential eligibility to proximate cohorts. We estimate local average treatment effects (LATE) on perceived levels of economic insecurity, today and in the future. We find that immunization triggered less pessimistic financial feelings, among the vaccinated interviewees, particularly when looking at 3 months ahead. Using a differencein-discontinuity design we next document that immunization was more salient for women as well as for large households with children. Our results indicate that the mass immunization campaign against Covid-19 had relevant short-run economic effects, well beyond its expected impact on people’s health

Suggested Citation

  • Belmonte, A & Pickard, H, 2022. "Safe at Last? LATE Effects of a Mass Immunization Campaign on Households’ Economic Insecurity," CAGE Online Working Paper Series 604, Competitive Advantage in the Global Economy (CAGE).
    • Handle: RePEc:cge:wacage:604
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    More about this item

    Keywords

    Economic insecurity; Covid-19 immunization campaign; RDD; difference-indiscontinuity; United Kingdom JEL Classification:: D14; D90; G51; I38;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • G51 - Financial Economics - - Household Finance - - - Household Savings, Borrowing, Debt, and Wealth
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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