UK fact of the day
#COVID19 mortality in UK hospital patients has been falling steadily from >6% in March to ~1% now, with similar trends elsewhere. The reasons behind this pattern remain unclear, but #COVID19 Infection Fatality Rates will likely have to be revised downward. tinyurl.com/ybnlmkdz
That is from Francis Balloux. And again here is the source link. And please do not conclude the virus is becoming less dangerous, that is not a necessary implication of the above! Alternative explanations are given at the latter link. Most broadly, I will say it again: if your model does not have long-run elasticities as much greater than short-run elasticities, it is likely to be off in some significant ways.