Keyword: innovation

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US

Competition

This week's US Economic Experts Panel statements: A) Industry consolidation and weaker competition in the United States meaningfully constrain innovation and wage growth. B) Americans pay too much for broadband, cable television, and telecommunications services, in part because of a lack of adequate competition.
Europe

Vaccine Development and Distribution

This week's European Economic Experts Panel statements: A) Removing intellectual property protections on Covid-19 vaccines would substantially improve availability of the vaccines in developing countries. B) Removing intellectual property protections on Covid-19 vaccines would have a negative impact on vaccine development efforts for future variants of SARS-CoV-2 or for the next pandemic. C) Without an international agreement that facilitates vaccine trade, countries’ incentives to limit exports of vaccines and/or key production inputs are likely to prolong the adverse effects of the pandemic in advanced countries.
US

Vaccine Development and Distribution

This week's US Economic Experts Panel statements: A) Removing intellectual property protections on Covid-19 vaccines would substantially improve availability of the vaccines in developing countries. B) Removing intellectual property protections on Covid-19 vaccines would have a negative impact on vaccine development efforts for future variants of SARS-CoV-2 or for the next pandemic. C) Without an international agreement that facilitates vaccine trade, countries’ incentives to limit exports of vaccines and/or key production inputs are likely to prolong the adverse effects of the pandemic in advanced countries.
Europe

The Search for a Vaccine

This week’s IGM European Economic Experts Panel statements:   A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society. B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production. C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should have priority in public healthcare funding even in countries where other diseases cause more death and disability.  
US

The Search for a Vaccine

This week’s IGM Economic Experts Panel statements: A) Given the social and regulatory pressures to keep prices down for drugs and vaccines to treat Covid-19, the financial incentives for pharmaceutical companies to invest in such products are below the value of the investment to society. B) Government commitments to pay developers and manufacturers above average costs for an effective vaccine or drug treatments for Covid-19 would accelerate production. C) Given the positive externalities from vaccination, an effective Covid-19 vaccine should be mandatory for every US resident (except those with health exceptions, such as infants and people with compromised immunity) with the cost covered by the federal government.