Cost-effectiveness evaluations of interventions against infectious diseases are often performed using static models. Well-known static models are Markov models and decision trees. These models use a constant force of infection to estimate number of infected individuals. The dynamic effects of...

To respond to pandemics such as COVID-19, policy makers have relied on interventions that target specific age groups or activities. Such targeting is potentially contentious, so rigorously quantifying its benefits and downsides is critical for designing effective and equitable pandemic control...

How much and when should we limit economic and social activity to ensure that the health-care system is not overwhelmed during an epidemic? We study a setting where ICU resources are constrained while suppression is costly (e.g., limiting economic interaction). Providing a fully analytical...

We study the problem of a policymaker who aims at taming the spread of an epidemic while minimizing its associated social costs. The main feature of our model lies in the fact that the disease's transmission rate is a diffusive stochastic process whose trend can be adjusted via costly...

Climate negotiations have largely failed, so a change of course is required. This requires that a sizable group of experts recommend a small, clear set of policy guideposts that lead to a more cooperative treaty. This papers proposes a set of three guideposts and derives them from an analysis of...

Instruments chosen to pursue climate related targets are not always efficient. In this paper we consider an economy with three climate related targets for its electricity generation: a given share of "green" electricity, a given expansion of "green" electricity, and a given reduction of "black"...

Campaign finance contributions may influence policy by affecting elections or influencing the choices of politicians once in office. To study the trade-offs between these two paths to influence, we use a game in which contributions may affect electoral outcomes and signal policy-relevant...

We provide a framework for analyzing the choice between optimal and robust monetary policy rules in the presence of paradigm uncertainty. We first discuss the conditions on uncertainty that render a robust rule preferable to an optimal rule. Second, we show how the degree of risk aversion of the...

This article presents an integrated assessment of climate change, air pollution, and energy security policy. Basis of our analysis is the MERGE model, designed to study the interaction between the global economy, energy use, and the impacts of climate change. For our purposes we expanded MERGE...