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Table 10 Robustness checks—baseline using NO2 emissions

From: The effects of COVID-19 vaccines on economic activity

Variables

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

 

Drop late

Drop early

Without

Without

Without

Without

Without

1% winsorize

start after March 1

5% before February 1

APD

EUR

MCD

WHD

AFR

Surprises in vaccines administered (per capita)

0.011918***

0.011192***

0.008219***

0.010750***

0.008216**

0.010365***

0.012232***

0.011289***

 

(0.003)

(0.002)

(0.003)

(0.003)

(0.003)

(0.002)

(0.003)

(0.002)

COVID-19 cases per capita (lag)

0.004288

0.003674

− 0.019220

0.004979

0.020262

0.007671

− 0.007044

0.002204

 

(0.019)

(0.020)

(0.025)

(0.019)

(0.019)

(0.019)

(0.021)

(0.020)

NO2 emissions per capita (lag)

− 0.564944***

− 0.565331***

− 0.582338***

− 0.560856***

− 0.606884***

− 0.548998***

− 0.567048***

− 0.565005***

 

(0.033)

(0.033)

(0.035)

(0.037)

(0.035)

(0.034)

(0.033)

(0.033)

CO emissions per capita (lag)

0.018059

0.018016

0.008404

0.020323

0.041983

0.016742

0.008033

0.017675

 

(0.046)

(0.046)

(0.050)

(0.046)

(0.062)

(0.100)

(0.048)

(0.046)

Containment measures (lag)

− 0.207061

− 0.229113*

− 0.211049

− 0.151022

− 0.354375**

− 0.130982

− 0.252608

− 0.203953

 

(0.123)

(0.129)

(0.138)

(0.129)

(0.155)

(0.128)

(0.155)

(0.122)

Mobility (lag)

0.000842

0.000757

0.000698

0.000383

0.000399

0.001335**

0.000582

0.000699

 

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

(0.001)

Constant

5.976847

6.610367

− 62.995520***

8.405028

− 5.091505

11.078580**

− 5.697044

7.415563

 

(5.387)

(5.448)

(6.169)

(5.249)

(7.801)

(5.231)

(8.123)

(5.213)

Observations

5879

5624

5158

4878

2629

5422

4823

5759

R-squared

0.332

0.333

0.353

0.341

0.344

0.340

0.343

0.333

Country FE

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Time FE

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Health controls and country-time trends

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No. of countries

44

41

39

34

23

40

36

43

  1. Table reports results for Eq. (1). The dependent variable is NO2 emissions per capita. The regressions control for stringency of containment measures, other non-pharmaceutical interventions and health policy controls (one lag), lags of mobility (one lag), lagged new cases, (one lag), lagged NO2 and CO emissions (one lag) country-specific time trends, as well as country and time fixed effects. Standard errors are clustered at the country level. ***, **, and * represent statistically significant at 1, 5, and 10%, respectively