Pierre-Carl Michaud

Affiliated Adjunct Economist
Off Site Office


Ph.D. in economics, Tilburg University; M.Sc. in economics, HEC Montreal; B.A. in business administration, HEC Montreal


Pierre-Carl Michaud is an adjunct economist at RAND. His work focuses on the economics of aging, which includes saving and retirement outcomes as well as health processes. This is funded by various grants from the National Institutes of Aging.

Concurrent Non-RAND Positions

Associate Professor of Economics, Université du Québec à Montréal (UQAM)

Recent Projects

  • R01- The Value of Long-Term Care Insurance to Married and Single Persons
  • R01 - Working Lives, Physiological Dysregulation and International Health Differences
  • R01 Integrated Retirement Models
  • P01- Structural Modeling of Retirement and Savings Behavior across Countries

Selected Publications

Dionne, G., P.-C. Michaud and M. Dahchour, "Separating Moral Hazard from Adverse Selection in Automobile Insurance: Longitudinal Evidence from France," Journal of the European Economic Association (forthcoming)

Michaud, P.-C. , D. Goldman, D. Lakadwalla, Y. Zheng and A. Gailey, "The Value of Medical Interventions to Reduce Obesity," Journal of Health Economics, 2012

Michaud, P-C., and F. Vermeulen, "Collective Labor Supply Models: Identification and Estimation in the Presence of Externalities," Labour Economics, 2011

Michaud, P.-C., K. Tatsiramos, "Fertility and Female Employment Dynamics in Europe: The Effect of Using Alternative Econometric Modeling Assumptions," Journal of Applied Econometrics, 2010

Goldman, D., Y. Zheng, F. Girosi, P.-C. Michaud, S.J. Olshansky, D. Cutler and J. Rowe, "The Benefits of Risk Factor Prevention in Americans Aged 51 and Older," American Journal of Public Health, 2010

Lakdawalla, D., D. Goldman, P.-C. Michaud, N. Sood, R. Lempert, Z. Cong, H. de Vries, I. Gutierrez, "U.S. Pharmaceutical Policy in a Global Marketplace," Health Affairs, 28(1):w138-w150, 2009

Michaud, P.-C. , A. van Soest, "Health and Wealth of Elderly Couples: Causality Tests using Dynamic Panel Data Models," Journal of Health Economics, 27(5):1312-1325, 2008

Brunello, G., P.-C. Michaud and A. Sanz-de-Galdeano, "The Rise of Obesity Across The Atlantic," Economic Policy, 2008

Honors & Awards

  • Eugene Garfield Economic Impact of Health and Medical Research Award, Research in America and the University of Chicago
  • Early Career Research Excellence Award, Université du Québec à Montréal (Canada)