Research has indicated that wearing masks can help in limiting the exposure of the Covid virus and in turn generate an immune response in the body. Masks can help in increasing asymptomatic cases and slow the spread of the disease. Macroeconomic influencers share their views on the Covid -19 impact.
Adam Ozimek, chief economist at Upwork, shared an article on how wearing masks can help in providing immunity against the Covid-19 virus. Research published in the New England Journal of Medicine notes that wearing masks can help in reducing the severity of the virus.
Wearing a mask can help in creating a form of inoculation that can generate immunity against the virus and slow its spread as a vaccine is awaited. The research indicates that the amount of virus a person is exposed to determines the severity of the illness.
Masks can help reduce the amount of virus a person is exposed to and induce an immune response, while ensuring that a large proportion of new infections are asymptomatic.
Some public health officials opposed masks early for Peltzman effect reasons. But if this is right, is masks + normal behavior for lower risk populations optimal? cc @tylercowen https://t.co/ONJYY1ymAm
— Adam Ozimek (@ModeledBehavior) September 13, 2020
Colin Williams, professor of public policy at University of Sheffield, shared an article on the rise in Covid-19 cases in the UK. According to research conducted at the Imperial College London, the number of cases is doubling every 7.7 days. At this rate, the UK will have 10,000 new cases each day in the next two weeks.
Although social distancing rules have been tightened, only 46% of adults are maintaining social distancing, according to the Office for National Statistics. Further, as universities start to reopen the infection rate is projected to rise.
— Colin Williams (@Colin_CWilliams) September 13, 2020
David Wessel, director of Hutchins Center on Fiscal & Monetary Policy, shared an article on the Federal Reserve’s recommendation for additional stimulus from the government. Democrats and Republicans in the US are yet to reach a consensus on the next round of stimulus.
Research indicates that increased spending rather than lower rates will stimulate the economy and help in preventing a deeper recession for the US.
Why Fed officials are eager for more stimulus from Congress: new research says spending, not lower rates, would do more to prevent deeper economic scars from the coronavirus pandemic https://t.co/bqiSkWtrD6
— Nick Timiraos (@NickTimiraos) September 13, 2020
Ian Bremmer, a political scientist and author, shared an article on how the composition of foreign students in the US. The US President Donald Trump previously announced at the start of the pandemic that foreign students may be forced to return if universities do not reopen.
India and China account for 52% of all international students arriving in the US. During the 2019-2019 academic year, international students contributed $41bn to the US economy. As universities formalise their plans for the next semester, the future of approximately one million students remains uncertain.
Factors including the pandemic and Trump's policies are making the US a less attractive destination for foreign university students. Where have most US foreign students come from? #GraphicTruth @gzeromedia https://t.co/if1z0555E7
— ian bremmer (@ianbremmer) September 13, 2020
Prof. Steve Hanke
Prof. Steve Hanke, economist at Johns Hopkins University, shared an article on Sudan declaring an economic emergency after the Sudanese dollar declined sharply. The country had declared a national emergency for three months after flooding led to several deaths.
The article notes that officials blamed the manipulation caused by opposing transitional government for the fall in the Sudanese dollar. Sudan is primarily a gold producer and had implemented steps to open up its markets by moving trade to private investors. The move, however, caused people to sell gold above market price aimed at moving the exchange rate. The government is setting up special courts to curb smuggling and other illegal activities.
Amidst massive floods that have destroyed thousands of homes, #Sudan has now declared an economic emergency. The currency is junk & inflation has skyrocketed to 286.14% by my accurate measure. A never-ending death spiral.https://t.co/ZwTxgDRyiU
— Steve Hanke (@steve_hanke) September 13, 2020