Managing the risk of COVID-19 via vaccine passports: Modeling economic and policy implications

The increasing use of vaccine passports (VPs) to certify immunity from the prevailing coronavirus has created positive and negative aspects that have shaken the workings of markets. The VPs are, however, not universally used and not required by all businesses and governments at this point. Given the newness associated with VPs and the ongoing uncertainty of the pandemic, full implications of VPs have not been considered. This paper provides some formal insights into the implications of the use of VPs, borrowing from the established economic theory. Recommendations for public policy are provided.

Automated summary

The increasing use of vaccine passports has had both positive and negative impacts on markets, although not all businesses and governments currently require or utilize them. Due to the novelty of vaccine passports and the ongoing uncertainty of the pandemic, the full implications of their use have not been fully considered. This paper provides formal insights into the implications of vaccine passport usage based on established economic theory and offers recommendations for public policy.