{"title":"疫苗接种在大流行病期间资产定价模型中的作用。","authors":"Yuta Saito","doi":"10.1371/journal.pone.0266511","DOIUrl":null,"url":null,"abstract":"<p><p>This paper examines the effect of pandemic vaccination on asset prices in a simple asset pricing model à la Lucas 1978. In this model, asset prices depend on susceptible individuals' saving motives to insure against a reduction in labour income due to getting they get the virus. Hence distributing vaccine reduces precautionary saving motives and asset prices. This implies that reducing the income gap between susceptible and infected individuals, such as by cash handouts, eases the negative effect of vaccine supply on asset prices.</p>","PeriodicalId":36832,"journal":{"name":"Antitrust Bulletin","volume":"65 1","pages":"e0266511"},"PeriodicalIF":0.0000,"publicationDate":"2022-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9022870/pdf/","citationCount":"0","resultStr":"{\"title\":\"The role of vaccination in a model of asset pricing during a pandemic.\",\"authors\":\"Yuta Saito\",\"doi\":\"10.1371/journal.pone.0266511\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p><p>This paper examines the effect of pandemic vaccination on asset prices in a simple asset pricing model à la Lucas 1978. In this model, asset prices depend on susceptible individuals' saving motives to insure against a reduction in labour income due to getting they get the virus. Hence distributing vaccine reduces precautionary saving motives and asset prices. This implies that reducing the income gap between susceptible and infected individuals, such as by cash handouts, eases the negative effect of vaccine supply on asset prices.</p>\",\"PeriodicalId\":36832,\"journal\":{\"name\":\"Antitrust Bulletin\",\"volume\":\"65 1\",\"pages\":\"e0266511\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2022-04-21\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9022870/pdf/\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Antitrust Bulletin\",\"FirstCategoryId\":\"103\",\"ListUrlMain\":\"https://doi.org/10.1371/journal.pone.0266511\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"2022/1/1 0:00:00\",\"PubModel\":\"eCollection\",\"JCR\":\"Q2\",\"JCRName\":\"Social Sciences\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Antitrust Bulletin","FirstCategoryId":"103","ListUrlMain":"https://doi.org/10.1371/journal.pone.0266511","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2022/1/1 0:00:00","PubModel":"eCollection","JCR":"Q2","JCRName":"Social Sciences","Score":null,"Total":0}
The role of vaccination in a model of asset pricing during a pandemic.
This paper examines the effect of pandemic vaccination on asset prices in a simple asset pricing model à la Lucas 1978. In this model, asset prices depend on susceptible individuals' saving motives to insure against a reduction in labour income due to getting they get the virus. Hence distributing vaccine reduces precautionary saving motives and asset prices. This implies that reducing the income gap between susceptible and infected individuals, such as by cash handouts, eases the negative effect of vaccine supply on asset prices.
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