The paper demonstrates that the concepts of dynamic controllability are useful for the theory of economic policy by establishing four propositions. First dynamic controllability is a central concept in stabilization policy. Second, the ability to achieve a target state, even if it cannot be...

Infectious diseases are transmitted from person to person or from vectors such as mosquitoes to people. The uninfected take precautions against these diseases and the infected try to mitigate their symptoms and to get cured. In doing so, people may weigh the costs of illness, prevention and...