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Demand For Illicit Drugs By Pregnant Women Hope Corman
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Book Synopsis Optimal Expectations by : Markus Konrad Brunnermeier
Download or read book Optimal Expectations written by Markus Konrad Brunnermeier and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper introduces a tractable, structural model of subjective beliefs. Forward-looking agents care about expected future utility flows, and hence have higher current felicity if they believe that better outcomes are more likely. On the other hand, biased expectations lead to poorer decisions and worse realized outcomes on average. Optimal expectations balance these forces by maximizing average felicity. A small bias in beliefs typically leads to first-order gains due to increased anticipatory utility and only to second-order costs due to distorted behavior. We show that in a portfolio choice problem, agents overestimate the return on their investment and exhibit a preference for skewness. In general equilibrium, agents' prior beliefs are endogenously heterogeneous. Finally, in a consumption-saving problem with stochastic income, agents are both overconfident and overoptimistic.
Book Synopsis What Did the "illigitimacy Bonus" Reward? by : Sanders Korenman
Download or read book What Did the "illigitimacy Bonus" Reward? written by Sanders Korenman and published by . This book was released on 2004 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The Illegitimacy Bonus, ' part of 1996 welfare reform legislation, awarded $100 million in each of five years to the five states with the greatest reduction in the nonmarital birth ratio. Three "states"--Alabama, Michigan, and Washington DC- won bonuses four or more times each, claiming nearly 60% of award monies. However, in none of these three states was the decline in the nonmarital birth ratio linked to increases in proportions married, and only in Michigan was it linked to declines in nonmarital (relative to marital) fertility within demographic groups, behavioral changes that the Illegitimacy Bonus was presumably intended to reward. Shifts in the racial composition of births accounted for 1/3 (Michigan), 2/3 (DC) or all (Alabama) of the decline in the nonmarital birth ratio. The non-marital birth ratio fell most in DC, averaging 1.5 percentage points per year over the award period. However, the number of black children born in DC fell by nearly one half from 1991 to 2001. Changes in population composition alone primarily a decline in the number of black women aged 15 to 34 can account for the entire decline in the nonmarital birth ratio in DC between 1990 and 2000"--National Bureau of Economic Research web site.
Book Synopsis The Impact of Trade on Intraindustry Reallocations and Aggregate Industry Productivity by : Richard E. Baldwin
Download or read book The Impact of Trade on Intraindustry Reallocations and Aggregate Industry Productivity written by Richard E. Baldwin and published by . This book was released on 2004 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Melitz (2003) demonstrates that greater trade openness raises industry productivity via a selection effect and via a production re-allocation effect. Our comment points out that the set-up assumed in the Melitz model displays a trade off between static and dynamic efficiency gains. That is, although freer trade improves industry productivity in a level sense, it harms it in a growth sense. To make this point as simply as possible, we introduce a slight modification to the model that endogenises the growth rate of industry productivity and we show that liberalisation slows growth"--NBER website
Book Synopsis The US Current Account Deficit and Economic Development by : Michael P. Dooley
Download or read book The US Current Account Deficit and Economic Development written by Michael P. Dooley and published by . This book was released on 2004 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We argue that a chronic US current account deficit is an integral and sustainable feature of a successful international monetary system. The US deficit supplies international collateral to the periphery. International collateral in turn supports two-way trade in financial assets that liberates capital formation in poor countries from inefficient domestic financial markets. The implicit international contract is analogous to a total return swap in domestic financial markets. Using market-determined collateral arrangements from these transactions we compute the collateral requirements consistent with recent foreign direct investment in China. The data are remarkably consistent with such calculations. The analysis helps explain why net capital flows from poor to rich countries and recent evidence that net outflows of capital are associated with relatively high growth rates in emerging markets. It also clarifies the role of the reserve currency in the system"--NBER website
Book Synopsis Neoclassical Growth and the Adoption of Technologies by : Diego Comin
Download or read book Neoclassical Growth and the Adoption of Technologies written by Diego Comin and published by . This book was released on 2004 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce a growth model of technology diffusion and endogenous Total Factor Productivity (TFP) levels both at the sector and aggregate level. At the aggregate, the model behaves as the Neoclassical growth model. Our goal is for this model to bridge the gap between the theoretical and empirical studies of technology adoption and economic growth. We bridge this gap in three important directions. First of all, we use our model to show how one unified theoretical framework is broadly consistent with the observed dynamics of both economic growth as well as of many different measures of technology adoption, like adoption rates, capital to output ratios, and output ratios. Secondly, we estimate our model using a broad range of technological adoption measures, covering 17 technologies and 21 industrialized countries over the past 180 years. This allows us to show how its predicted adoption patterns fit those observed in the data. Finally, we estimate the disparities in sectoral productivity levels as well as aggregate TFP that can be attributed to the differences in the range of technologies in use across countries. These disparities are almost completely determined by the quality of the worst technology in use, rather than by the quality of the newest technology that has just been adopted or by the number of technologies in use. Further, we find that the TFP component attributable to the range of technologies used is highly correlated with overall sectoral TFP differences across countries, though the variance is smaller.
Book Synopsis Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the US Business Cycle by : Stephanie Schmitt-Grohé
Download or read book Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the US Business Cycle written by Stephanie Schmitt-Grohé and published by . This book was released on 2004 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies optimal interest-rate rules within a rich, dynamic, general equilibrium model that has been shown to account well for observed aggregate dynamics in the postwar United States. We perform policy evaluations based on second-order accurate approximations to conditional and unconditional expected welfare. We require that interest-rate rules be operational, in the sense that they include as arguments only a few readily observable macroeconomic indicators and respect the zero bound on nominal interest rates. We find that the optimal operational monetary policy is a real-interest-rate targeting rule. That is, an interest-rate feedback rule featuring a unit inflation coefficient, a mute response to output, and no interest-rate smoothing. Contrary to existing studies, we find a significant degree of optimal inflation volatility. A key factor driving this result is the assumption of indexation to past inflation. Under indexation to long-run inflation the optimal inflation volatility is close to zero. Finally, we show that initial conditions matter for welfare rankings of policies.
Book Synopsis Negotiating Free Trade by : Philippe Aghion
Download or read book Negotiating Free Trade written by Philippe Aghion and published by . This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "We develop a dynamic bargaining model in which a leading country endogenously decides whether to sequentially negotiate free trade agreements with subsets of countries or engage in simultaneous multilateral bargaining with all countries at once. We show how the structure of coalition externalities shapes the choice between sequential and multilateral bargaining, and we identify circumstances in which the grand coalition is the equilibrium outcome, leading to worldwide free trade. A model of international trade is then used to illustrate equilibrium outcomes and how they depend on the structure of trade and protection. Global free trade is not achieved when the political-economy motive for protection is sufficiently large. Furthermore, the model generates both building bloc' and stumbling bloc' effects of preferential trade agreements. In particular, we describe an equilibrium in which global free trade is attained only when preferential trade agreements are permitted to form (a building bloc effect), and an equilibrium in which global free trade is attained only when preferential trade agreements are forbidden (a stumbling bloc effect). The analysis identifies conditions under which each of these outcomes emerges"--NBER website
Book Synopsis NBER Reporter by : National Bureau of Economic Research
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2008 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis How Much Might Universal Health Insurance Reduce Socioeconomic Disparities in Health? by : Sandra Lynn Decker
Download or read book How Much Might Universal Health Insurance Reduce Socioeconomic Disparities in Health? written by Sandra Lynn Decker and published by . This book was released on 2004 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: A strong association between lower socioeconomic status (SES) and worse health-- the SES-health gradient-- has been documented in many countries, but little work has compared the size of the gradient across countries. We compare the size of the income gradient in self-reported health in the US and Canada. We find that being below median income raises the likelihood that a middle aged person is in poor or fair health by about 15 percentage points in the U.S., compared to less than 8 percentage points in Canada. We also find that the 7 percentage point gradient difference between the two countries is reduced by about 4 percentage points after age 65, the age at which the virtually all U.S. citizens receive basic health insurance through Medicare. Income disparities in the probability that an individual lacks a usual source of care are also significantly larger in the US than in Canada before the age of 65, but about the same after 65. Our results are therefore consistent with the availability of universal health insurance in the U.S, or at least some other difference that occurs around the age of 65 in one country but not the other, narrowing SES differences in health between the US and Canada.
Book Synopsis Stock Market Trading and Market Conditions by : John Meredith Griffin
Download or read book Stock Market Trading and Market Conditions written by John Meredith Griffin and published by . This book was released on 2004 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Defaultable Debt, Interest Rates and the Current Account by : Mark Aguiar
Download or read book Defaultable Debt, Interest Rates and the Current Account written by Mark Aguiar and published by . This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: "World capital markets have experienced large scale sovereign defaults on a number of occasions, the most recent being Argentina's default in 2002. In this paper we develop a quantitative model of debt and default in a small open economy. We use this model to match four empirical regularities regarding emerging markets: defaults occur in equilibrium, interest rates are countercyclical, net exports are countercyclical, and interest rates and the current account are positively correlated. That is, emerging markets on average borrow more in good times and at lower interest rates as compared to slumps. Our ability to match these facts within the framework of an otherwise standard business cycle model with endogenous default relies on the importance of a stochastic trend in emerging markets"--NBER website
Download or read book Welfare Reform written by Jeff GROGGER and published by Harvard University Press. This book was released on 2009-06-30 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Welfare Reform, Jeffrey Grogger and Lynn Karoly assemble evidence from numerous studies to assess how welfare reform has affected behavior. To broaden our understanding of this wide-ranging policy reform, the authors evaluate the evidence in relation to an economic model of behavior.
Book Synopsis Improving Health in the Community by : Institute of Medicine
Download or read book Improving Health in the Community written by Institute of Medicine and published by National Academies Press. This book was released on 1997-05-21 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: How do communities protect and improve the health of their populations? Health care is part of the answer but so are environmental protections, social and educational services, adequate nutrition, and a host of other activities. With concern over funding constraints, making sure such activities are efficient and effective is becoming a high priority. Improving Health in the Community explains how population-based performance monitoring programs can help communities point their efforts in the right direction. Within a broad definition of community health, the committee addresses factors surrounding the implementation of performance monitoring and explores the "why" and "how to" of establishing mechanisms to monitor the performance of those who can influence community health. The book offers a policy framework, applies a multidimensional model of the determinants of health, and provides sets of prototype performance indicators for specific health issues. Improving Health in the Community presents an attainable vision of a process that can achieve community-wide health benefits.
Book Synopsis Living Mindfully Across the Lifespan by : J. Kim Penberthy
Download or read book Living Mindfully Across the Lifespan written by J. Kim Penberthy and published by Routledge. This book was released on 2020-11-22 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Living Mindfully Across the Lifespan: An Intergenerational Guide provides user-friendly, empirically supported information about and answers to some of the most frequently encountered questions and dilemmas of human living, interactions, and emotions. With a mix of empirical data, humor, and personal insight, each chapter introduces the reader to a significant topic or question, including self-worth, anxiety, depression, relationships, personal development, loss, and death. Along with exercises that clients and therapists can use in daily practice, chapters feature personal stories and case studies, interwoven throughout with the authors’ unique intergenerational perspectives. Compassionate, engaging writing is balanced with a straightforward presentation of research data and practical strategies to help address issues via psychological, behavioral, contemplative, and movement-oriented exercises. Readers will learn how to look deeply at themselves and society, and to apply what has been learned over decades of research and clinical experience to enrich their lives and the lives of others.
Book Synopsis Red Book Atlas of Pediatric Infectious Diseases by : American Academy of Pediatrics
Download or read book Red Book Atlas of Pediatric Infectious Diseases written by American Academy of Pediatrics and published by . This book was released on 2007 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on key content from Red Book: 2006 Report of the Committee on Infectious Diseases, 27th Edition, the new Red Bookr Atlas is a useful quick reference tool for the clinical diagnosis and treatment of more than 75 of the most commonly seen pediatric infectious diseases. Includes more than 500 full-color images adjacent to concise diagnostic and treatment guidelines. Essential information on each condition is presented in the precise sequence needed in the clinical setting: Clinical manifestations, Etiology, Epidemiology, Incubation period, Diagnostic tests, Treatment
Download or read book Drug Abuse Prevention Report written by and published by . This book was released on 1973 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Making Americans Healthier by : Robert F. Schoeni
Download or read book Making Americans Healthier written by Robert F. Schoeni and published by Russell Sage Foundation. This book was released on 2008-01-25 with total page 413 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States spends billions of dollars annually on social and economic policies aimed at improving the lives of its citizens, but the health consequences associated with these policies are rarely considered. In Making Americans Healthier, a group of multidisciplinary experts shows how social and economic policies seemingly unrelated to medical well-being have dramatic consequences for the health of the American people. Most previous research concerning problems with health and healthcare in the United States has focused narrowly on issues of medical care and insurance coverage, but Making Americans Healthier demonstrates the important health consequences that policymakers overlook in traditional cost-benefit evaluations of social policy. The contributors examine six critical policy areas: civil rights, education, income support, employment, welfare, and neighborhood and housing. Among the important findings in this book, David Cutler and Adriana Lleras-Muney document the robust relationship between educational attainment and health, and estimate that the health benefits of education may exceed even the well-documented financial returns of education. Pamela Herd, James House, and Robert Schoeni discover notable health benefits associated with the Supplemental Security Income Program, which provides financial support for elderly and disabled Americans. George Kaplan, Nalini Ranjit, and Sarah Burgard document a large and unanticipated improvement in the health of African-American women following the enactment of civil rights legislation in the 1960s. Making Americans Healthier presents ground-breaking evidence that the health impact of many social policies is substantial. The important findings in this book pave the way for promising new avenues for intervention and convincingly demonstrate that ultimately social and economic policy is health policy. A Volume in the National Poverty Center Series on Poverty and Public Policy
