604/2022 Alessandro Belmonte and Harry Pickard

We study the effects of receiving immunisation 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 immunisation 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 immunisation triggered less pessimistic financial feelings, among the vaccinated interviewees, particularly when looking at 3 months ahead. Using a difference-in-discontinuity design we next document that immunisation was more salient for women as well as for large households with children. Our results indicate that the mass immunisation campaign against Covid-19 had relevant short-run economic effects, well beyond its expected impact on people’s health.

Public policy and data

The Social Science Research Network

https://dx.doi.org/10.2139/ssrn.4064541