We analyze the externalities that arise when social and economic interactions transmit
infectious diseases such as COVID-19. Individually rational agents do not internalize that …

The Covid-19 pandemic has motivated a myriad of studies and proposals on how economic
policy should respond to this colossal shock. But in this debate it is seldom recognized that …

To slow the COVID-19 virus, many countries shut down parts of the economy. Older
individuals have the most to gain from slowing virus diffusion. Younger workers in shuttered …

We provide a quantitative analysis of the trade-offs between health outcomes and the
distribution of economic outcomes associated with alternative policy responses to the …

We develop a quantitative framework for exploring how individuals trade off the utility benefit
of social activity against the internal and external health risks that come with social …

ABSTRACT I use a simple SIR model, augmented to include deaths, to elucidate how
pandemic progression is affected by the control of contagion, and examine the key trade-offs …

Negative infectious disease externalities are less prevalent in the absence of government
intervention and less costly to society than is often supposed. That is so for three reasons.(1) …

We use an individual based model and national level epidemic simulations to estimate the
medical costs of keeping the US economy open during COVID-19 pandemic under different …

In this paper, we construct an extended SIR model with agents optimally choosing outdoor
activities. We calibrate the model and match it to the data from the United States. The model …

We develop a novel approach integrating epidemiological and economic models that allows
data-based simulations during a pandemic. We examine the economically optimal opening …