Modeling to Inform Economy-Wide Pandemic Policy: Bringing Epidemiologists and Economists Together

Michael E. Darden (), David Dowdy, Lauren Gardner, Barton H. Hamilton (), Karen Kopecky, Melissa Marx, Nicholas Papageorge, Daniel Polsky, Kimberly Powers, Elizabeth Stuart and Matthew V. Zahn ()
Additional contact information
Michael E. Darden: The Johns Hopkins Carey Business School
David Dowdy: Johns Hopkins University
Lauren Gardner: Johns Hopkins University
Barton H. Hamilton: Washington University, St. Louis
Melissa Marx: Johns Hopkins University
Daniel Polsky: Johns Hopkins University
Kimberly Powers: North Carolina State University
Elizabeth Stuart: Johns Hopkins University
Matthew V. Zahn: Johns Hopkins University

No 14838, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Facing unprecedented uncertainty and drastic trade-offs between public health and other forms of human well-being, policy makers during the Covid-19 pandemic have sought the guidance of epidemiologists and economists. Unfortunately, while both groups of scientists use many of the same basic mathematical tools, the models they develop to inform policy tend to rely on different sets of assumptions and, thus, often lead to different policy conclusions. This divergence in policy recommendations can lead to uncertainty and confusion, opening the door to disinformation, distrust of institutions, and politicization of scientific facts. Unfortunately, to date, there have not been widespread efforts to build bridges and find consensus or even to clarify sources of differences across these fields, members of whom often continue to work within their traditional academic silos. In response to this "crisis of communication," we convened a group of scholars from epidemiology, economics, and related fields (e.g., statistics, engineering, and health policy) to discuss approaches to modeling economy-wide pandemics. We summarize these conversations by providing a consensus view of disciplinary differences (including critiques) and working through a specific policy example. Thereafter, we chart a path forward for more effective synergy between disciplines, which we hope will lead to better policies as the current pandemic evolves and future pandemics emerge.

Keywords: health outcomes; behavior modeling; COVID-19; public health; epidemiology; economics; health-wealth tradeoffs (search for similar items in EconPapers)
JEL-codes: C8 H0 I1 J (search for similar items in EconPapers)
Pages: 22 pages
Date: 2021-11
New Economics Papers: this item is included in nep-hea, nep-hme and nep-pke
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Citations: View citations in EconPapers (1)

Published - published in: Health Economics, 2022, 31 (7), 1291-1295

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Related works:
Journal Article: Modeling to inform economy‐wide pandemic policy: Bringing epidemiologists and economists together (2022)
Working Paper: Modeling to Inform Economy-Wide Pandemic Policy: Bringing Epidemiologists and Economists Together (2021)
Working Paper: Modeling to Inform Economy-Wide Pandemic Policy: Bringing Epidemiologists and Economists Together (2021)
Working Paper: Modeling to Inform Economy-Wide Pandemic Policy: Bringing Epidemiologists and Economists Together (2021)
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