Webinar: Michael Kremer on encouraging the development and manufacturing of vaccines and diagnostics

On Friday, May 1, 2020, Michael Kremer joined the Princeton Bendheim Center for Finance for a webinar on financing vaccines for COVID-19. Kremer is a Professor of Developing Studies in the Department of Economics at Harvard University and a 2019 recipient of the Nobel Prize in Economics.The webinar began with introductions by Markus Brunnermeier, Director of Princeton's Bendheim Center for Finance. Learn more about the COVID-19 webinar series organized by Markus Brunnermeier: https://bcf.princeton.edu/event-direc... Jump to video chapters: Markus Brunnermeier introduction: 1:06 Beginning of Kremer presentation: 10:19 Is it worth building large-scale capacity in parallel with trials? 13:40 Back of the envelope calculations: 17:57 Calculating the optimal number of vaccine candidates: 21:46 Structuring funding: 25:40 Proposed funding structure: 28:27 Calculating required pull funding: 32:39 Pull funding: 34:48 Supply chains: For want of a vial, the vaccine may be lost: 35:48 Could international cooperation be incentive compatible? 37:09 Innovations to speed vaccine trials: 50:01 Conclusion 1:07:19