The U.S. government recently released a report on its research priorities, focusing on issues related to estimating policy impacts and valuing outcomes. Jeffrey Shrader discussed these priorities in a seminar co-sponsored by CHDS and the Harvard Chan School Department of Health Policy and Management and Department of Environmental Health. Shrader is an environmental and labor economist at Columbia University; from 2023 to 2024 he was Senior Advisor at the Office of Information and Regulatory Affairs in the White House and a co-author of the report.
Issued in December 2023, the report, “Advancing the Frontiers of Benefit-Cost Analysis: Federal Priorities and Directions for Future Research” is part of a government-wide effort to improve policymaking by encouraging greater collaboration between government agencies and researchers. It identifies seven areas where research related to estimating the consequences of alternative policies is most needed:
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- Wildfires and extreme weather events
- Public benefit programs
- Nonfatal health risks
- Ecosystem services
- Information and transparency
- Distributional impacts
- Risk analysis
The report also describes how researchers can increase their engagement with government agencies.
Shrader talked in detail about two areas highlighted in the report. The first relates to public benefit programs, such as Medicare and Medicaid and the Supplemental Nutrition Assistance Program (SNAP). Federal policymakers need information on the effect of an intervention, not of the overall policy or program. For example, for Medicare, research is needed on the impacts of changing a feature such as the penalty for drug misclassification. They also need information on the value of the associated changes in welfare, such as decreased health risks and increased earnings.
The second relates to understanding how agency actions affect nonfatal health effects, including both the resulting changes in risk and their economic values. As an example of how to address related challenges, the report cites “Valuing COVID-19 Mortality and Morbidity Risk Reductions,” authored by CHDS’ Lisa Robinson, Michael Eber, and James Hammitt. Substantial additional work is needed, however, to address the multitude of health risks affected by government programs.
Shrader noted that the White House is now working on the 2024 update of the report, which will address many of the issues discussed in the seminar.
Learn more: Read the report, Advancing the Frontiers of Benefit-Cost Analysis: Federal Priorities and Directions for Future Research
Learn more: Read the White House Fact Sheet, Biden-Harris Administration Announces New Initiative to Advance the Frontiers of Benefit-Cost Analysis and Strengthen Government Decision Making
Learn more: Read the report, Valuing COVID-19 Mortality and Morbidity Risk Reductions and the associated journal article, Valuing COVID-19 Morbidity Risk Reductions
Related news: U.S. Updates Influential Economic Evaluation Guidance
Related news: Robinson Teaches “Valuing Life and Health” Course