Even without renewed Covid-19 restrictions, uncertainty about the health threat from the Omicron variant is likely to deliver a significant hit to economic activity from now through the first half of 2022.
Responses
If world vaccine supply continues to be limited, global social welfare would rise by more if those vaccines were made widely available across Africa (with support for effective delivery) rather than accelerating booster vaccinations in rich countries.
Responses
Imposing travel bans on countries where new Covid-19 variants are discovered will make it less likely that countries will reveal new variants to the rest of the world.