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The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA
In view of the sector-wide effect of the nCOVID-19 pandemic in the USA and the probable effect on certain over-the-counter (OTC) pharmaceutical products, the current study examined potential inflation in the pharmaceutical industry arising from the pandemic-related uncertainty. In this case, the USA...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Springer Berlin Heidelberg
2020
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7561703/ https://www.ncbi.nlm.nih.gov/pubmed/33064278 http://dx.doi.org/10.1007/s11356-020-11195-z |
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author | Alola, Andrew Adewale Olowu, Funmilayo Boluwatife |
author_facet | Alola, Andrew Adewale Olowu, Funmilayo Boluwatife |
author_sort | Alola, Andrew Adewale |
collection | PubMed |
description | In view of the sector-wide effect of the nCOVID-19 pandemic in the USA and the probable effect on certain over-the-counter (OTC) pharmaceutical products, the current study examined potential inflation in the pharmaceutical industry arising from the pandemic-related uncertainty. In this case, the USA’s producer price indexes vis-à-vis inflation of the immune-related pharmaceutical items: multivitamin, vitamins nutrients and hematinic (V-N-H), other vitamins (other-V), antidepressant, and antidiabetic were examined alongside the uncertainties arising from the world pandemic and economic policy. Thus, the (Diebold and Yilmaz in Int J Forecast 28(1): 57–66, 2012) result implied that the world pandemic uncertainty contributed a significantly huge shock to the examined pharmaceutical compounds, thus affirming the vulnerability of certain pharmaceuticals to pandemic-related uncertainty. The total spillover increased from 34.2% (with economic policy uncertainty) to 47.6% (when pandemic uncertainty is incorporated). In specific, there are negative net spillovers from the multivitamins, other vitamins, antidiabetic, and antidepressant especially due to high pandemic and economic policy uncertainties. However, the statistical evidence implied that higher uncertainty arising from the pandemic is responsible for the severity of shock received by the indicated pharmaceutical products as against economic policy uncertainty. Thus, a relevant policy inference is posited from the result of the study. |
format | Online Article Text |
id | pubmed-7561703 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2020 |
publisher | Springer Berlin Heidelberg |
record_format | MEDLINE/PubMed |
spelling | pubmed-75617032020-10-16 The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA Alola, Andrew Adewale Olowu, Funmilayo Boluwatife Environ Sci Pollut Res Int Short Research and Discussion Article In view of the sector-wide effect of the nCOVID-19 pandemic in the USA and the probable effect on certain over-the-counter (OTC) pharmaceutical products, the current study examined potential inflation in the pharmaceutical industry arising from the pandemic-related uncertainty. In this case, the USA’s producer price indexes vis-à-vis inflation of the immune-related pharmaceutical items: multivitamin, vitamins nutrients and hematinic (V-N-H), other vitamins (other-V), antidepressant, and antidiabetic were examined alongside the uncertainties arising from the world pandemic and economic policy. Thus, the (Diebold and Yilmaz in Int J Forecast 28(1): 57–66, 2012) result implied that the world pandemic uncertainty contributed a significantly huge shock to the examined pharmaceutical compounds, thus affirming the vulnerability of certain pharmaceuticals to pandemic-related uncertainty. The total spillover increased from 34.2% (with economic policy uncertainty) to 47.6% (when pandemic uncertainty is incorporated). In specific, there are negative net spillovers from the multivitamins, other vitamins, antidiabetic, and antidepressant especially due to high pandemic and economic policy uncertainties. However, the statistical evidence implied that higher uncertainty arising from the pandemic is responsible for the severity of shock received by the indicated pharmaceutical products as against economic policy uncertainty. Thus, a relevant policy inference is posited from the result of the study. Springer Berlin Heidelberg 2020-10-16 2020 /pmc/articles/PMC7561703/ /pubmed/33064278 http://dx.doi.org/10.1007/s11356-020-11195-z Text en © Springer-Verlag GmbH Germany, part of Springer Nature 2020 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic. |
spellingShingle | Short Research and Discussion Article Alola, Andrew Adewale Olowu, Funmilayo Boluwatife The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title | The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title_full | The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title_fullStr | The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title_full_unstemmed | The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title_short | The health scare of COVID-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the USA |
title_sort | health scare of covid-19 amidst pandemics and the immune-related pharmaceutical products spillovers in the usa |
topic | Short Research and Discussion Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7561703/ https://www.ncbi.nlm.nih.gov/pubmed/33064278 http://dx.doi.org/10.1007/s11356-020-11195-z |
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