Optimal Regulation Of Multiply Regulated Industries

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Optimal Regulation of Multiply-regulated Industries

Author : John A. Rizzo
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Optimal Regulation of Multiply-regulated Industries by : John A. Rizzo

Download or read book Optimal Regulation of Multiply-regulated Industries written by John A. Rizzo and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper models the physician services market which is regulated by two government agencies. The Health Care Financing Administration (HCFA) sets Medicare physician fees through the newly implemented Resource Based Relative Value Scale (RBRVS). The Agency for Health Care Policy and Research (AHCPR) sets practice guidelines for quality. We analyze welfare losses which occur when agencies fail to coordinate their regulatory activities. Specifically, we consider the welfare impacts for cost, quality, practice characteristics, and quantity of care. Perceived ills in the market for physician services, such as excessive expenditures and overly intensive treatment, may be traced to coordination failures. Thus, even if physicians were to act as perfect agents for their patients, and even if moral hazard were to be eliminated, coordination failure could cause the critical problems associated with the physician services market to persist. Although the model is applied to the market for physician services, it can be readily generalized to other settings involving multiple regulators.

Journal of Regulatory Economics

Author :
Publisher :
ISBN 13 :
Total Pages : 700 pages
Book Rating : 4.6/5 (8 download)

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Download or read book Journal of Regulatory Economics written by and published by . This book was released on 1995 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Health Care Policy and Regulation

Author : Thomas A. Abbott III
Publisher : Springer Science & Business Media
ISBN 13 : 1461522196
Total Pages : 260 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Health Care Policy and Regulation by : Thomas A. Abbott III

Download or read book Health Care Policy and Regulation written by Thomas A. Abbott III and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: 5 care reforms. Part II: Price Regulation The second partofthis volume examines the role ofprice regulation in controlling health care costs. It contains three chapters. In chapter seven, I examine the alternatives for regulating pharmaceutical prices. In chapter eight, Jack Hadley examines the impactofvarious forms ofhospital price regulation; while in chapter nine,MarkPaulyexaminestheroleofpriceregulation incontrollingphysician fees. Chapter seven focuses on the issue of regulating pharmaceutical prices. There are two key issues examined in this paper. First, is there a clear need for price regulation, and second, can price regulation work in this industry? In response to the first question, I come to the conclusion that the proponents ofprice regulation have not really proven their case. Although the financial returns in the pharmaceu tical industry have been slightly higher than expected during the 1970s and 1980s, there is not overwhelming evidence of"price gouging" or excessive profits on the part of the industry. In response to the second question, the answer is clearly no. The traditional approaches to price regulation will not have the intended affect of eliminating excess profits from the industry while maintaining the incentives for research and development. First, rate-of-return regulation, the most natural approach, would result in many adverse incentives-includingexcessive investment in research and developmentinorderto inflatetheratebaseused tocalculatedtheallowablereturns.

Southern Economic Journal

Author :
Publisher :
ISBN 13 :
Total Pages : 454 pages
Book Rating : 4.:/5 (321 download)

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Download or read book Southern Economic Journal written by and published by . This book was released on 1998 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt:

EBOOK: Health Policy and Economics: Opportunities and Challenges

Author : Peter Smith
Publisher : McGraw-Hill Education (UK)
ISBN 13 : 0335227937
Total Pages : 308 pages
Book Rating : 4.3/5 (352 download)

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Book Synopsis EBOOK: Health Policy and Economics: Opportunities and Challenges by : Peter Smith

Download or read book EBOOK: Health Policy and Economics: Opportunities and Challenges written by Peter Smith and published by McGraw-Hill Education (UK). This book was released on 2004-11-16 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Health economics has made major contributions to the development of health policy in many countries. This book describes those successes and looks forward to the major contributions that health economics can bring to bear on emerging policy issues in health and health care. With contributions from internationally recognized researchers, this book addresses generic policy issues confronting health systems across the developed world. The coverage progresses from micro, patient level issues to macro, whole system issues including: ·Determining cost-effective treatments ·Fair distribution of health care ·Regulatory issues such as performance measurement and incentives ·Revenue distribution ·Decentralization and internationalization of health systems Health Policy and Economics identifies the major contributions that health economics makes to important policy issues in health and health care. It is key reading for policy makers and health managers as well as students and academics with an interest in health policy and health services research. Contributors: Ron L. Akehurst, Karen E. Bloor, Martin Buxton, Karl P. Claxton, Richard Cookson, Diane A. Dawson, Paul Dolan, Mike Drummond, Brian Ferguson, Hugh Gravelle, Maria Goddard, Katharina Hauck, John Hutton, Andrew M. Jones, Rowena Jacobs, Paul Kind, Rosella Levaggi, Guillem López Casanovas, Alan K. Maynard, Nigel Rice, Anthony Scott, Rebecca Shaw, Trevor Sheldon, Andrew D. Street, Mark Sculpher, Matthew Sutton, Peter C. Smith, Adrian Towse, Aki Tsuchiya, Alan H. Williams.

Risk and Return for Regulated Industries

Author : Bente Villadsen
Publisher : Academic Press
ISBN 13 : 0128125888
Total Pages : 362 pages
Book Rating : 4.1/5 (281 download)

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Book Synopsis Risk and Return for Regulated Industries by : Bente Villadsen

Download or read book Risk and Return for Regulated Industries written by Bente Villadsen and published by Academic Press. This book was released on 2017-04-27 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and Return for Regulated Industries provides a much-needed, comprehensive review of how cost of capital risk arises and can be measured, how the special risks regulated industries face affect fair return, and the challenges that regulated industries are likely to face in the future. Rather than following the trend of broad industry introductions or textbook style reviews of utility finance, it covers the topics of most interest to regulators, regulated companies, regulatory lawyers, and rate-of-return analysts in all countries. Accordingly, the book also includes case studies about various countries and discussions of the lessons international regulatory procedures can offer. - Presents a unified treatment of the regulatory principles and practices used to assess the required return on capital - Addresses current practices before exploring the ways methods play out in practice, including irregularities, shortcomings, and concerns for the future - Focuses on developed economies instead of providing a comprehensive global reviews - Foreword by Stewart C. Myers

Working Paper Series

Author :
Publisher :
ISBN 13 :
Total Pages : 448 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Working Paper Series by :

Download or read book Working Paper Series written by and published by . This book was released on 2001 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Regulatory Impact Analysis Best Practices in OECD Countries

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264162151
Total Pages : 280 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Regulatory Impact Analysis Best Practices in OECD Countries by : OECD

Download or read book Regulatory Impact Analysis Best Practices in OECD Countries written by OECD and published by OECD Publishing. This book was released on 1997-12-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first report to look across the OECD membership at how regulatory impact analysis is actually designed and carried out.

The Theory of Competitive Price

Author : George Joseph Stigler
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The Theory of Competitive Price by : George Joseph Stigler

Download or read book The Theory of Competitive Price written by George Joseph Stigler and published by . This book was released on 1946 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Journal of Economic Literature

Author :
Publisher :
ISBN 13 :
Total Pages : 1350 pages
Book Rating : 4.:/5 (318 download)

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Download or read book Journal of Economic Literature written by and published by . This book was released on 1996 with total page 1350 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Monopoly Problems in Regulated Industries

Author : United States. Congress. House. Committee on the Judiciary
Publisher :
ISBN 13 :
Total Pages : 682 pages
Book Rating : 4.0/5 (18 download)

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Book Synopsis Monopoly Problems in Regulated Industries by : United States. Congress. House. Committee on the Judiciary

Download or read book Monopoly Problems in Regulated Industries written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 1957 with total page 682 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Survey of Empirical Research on Nominal Exchange Rates

Author : Jeffrey A. Frankel
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis A Survey of Empirical Research on Nominal Exchange Rates by : Jeffrey A. Frankel

Download or read book A Survey of Empirical Research on Nominal Exchange Rates written by Jeffrey A. Frankel and published by . This book was released on 1994 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: We survey the empirical literature on floating nominal exchange rates over the past decade. Exchange rates are difficult to forecast at short- to medium-term horizons. There is a bit of explanatory power to monetary models such as the Dornbusch 'overshooting' theory, in the form of reaction to 'news' and in forecasts at long-run horizons. Nevertheless, at short horizons, a driftless random walk characterizes exchange rates better than standard models based on observable macroeconomic fundamentals. Unexplained large shocks to floating rates must then, logically, be due either to innovations in unobservable fundamentals, or to non-fundamental factors such as speculative bubbles. The observed difference in exchange rate and macroeconomic volatility under different nominal exchange rate regimes makes us skeptical of the first view. The theory and evidence on speculative bubbles, however, is not conclusive. We conclude with the hope that promising new studies of the microstructure of the foreign exchange market might eventually rise to insights into these phenomena.

Differences in the Uses and Effects of Antidumping Law Across Import Sources

Author : Robert W. Staiger
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Differences in the Uses and Effects of Antidumping Law Across Import Sources by : Robert W. Staiger

Download or read book Differences in the Uses and Effects of Antidumping Law Across Import Sources written by Robert W. Staiger and published by . This book was released on 1994 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the differences in the uses and effects of U.S. antidumping law on imports and domestic output across the major regions exporting to the United States. We attempt to characterize the implications of the use of antidumping law for U.S. imports and domestic output, and to distinguish between 'outcome filers'(firms for which the prospect of an antidumping duty is important), 'process filers'(firms that desire to secure the trade-restricting effects of the investigation process itself) Previously we allowed for the coexistence of outcome- and process-filing industries and found evidence consistent with the process filers' presence in some industries However, we restricted filing strategy to be the same for all imports in that industry regardless of their country of origin. Here we abstract from cross- industry heterogeneity in antidumping filing strategies and explore the heterogeneity of filing strategies against different import-source countries, allowing for domestic firms that may pursue independent filing strategies. We argue that the most likely target countries for process filers are those whose export production is primarily destined for the U.S. and accounts for a relatively large and stable U.S. market share. These characteristics point to Canada and Mexico as countries against which process filing by U.S. firms is likely. We find evidence in the filing behavior and in the nature of the trade impacts suggesting that Mexico and Canada are indeed the most likely targets of antidumping petitions filed by process filers in the United States.

A Time to Sow and a Time to Reap

Author : Elhanan Helpman
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis A Time to Sow and a Time to Reap by : Elhanan Helpman

Download or read book A Time to Sow and a Time to Reap written by Elhanan Helpman and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a model of growth driven by successive improvements in 'General Purpose Technologies' (GPT's), such as the steam engine, electricity, or micro-electronics. Each new generation of GPT's prompts investments in complementary inputs, and impacts the economy after enough such compatible inputs become available. The long-run dynamics take the form of recurrent cycles: during the first phase of each cycle output and productivity grow slowly or even decline, and it is only in the second phase that growth starts in earnest. The historical record of productivity growth associated with electrification, and perhaps also of computerization lately, may offer supportive evidence for this pattern. In lieu of analytical comparative dynamics, we conduct simulations of the model over a wide range of parameters, and analyze the results statistically. We extend the model to allow for skilled and unskilled labor, and explore the implications for the behavior over time of their relative wages. We also explore diffusion in the context of a multi-sector economy.

What Does the Political Economy Literature on Trade Policy (not) Tell Us that We Ought to Know?

Author : Dani Rodrik
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis What Does the Political Economy Literature on Trade Policy (not) Tell Us that We Ought to Know? by : Dani Rodrik

Download or read book What Does the Political Economy Literature on Trade Policy (not) Tell Us that We Ought to Know? written by Dani Rodrik and published by . This book was released on 1994 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three questions lie at the core of the large and distinguished literature on the political economy of trade policy. First, why is international trade not free? Second, why are trade policies universally biased against (rather than in favor of) trade? Third, what are the determinants of the variation in protection levels across industries, countries, and institutional contexts? These questions are handled only imperfectly by the existing literature. Current models treat trade policy as a redistributive tool, but do not explain why it emerges in political equilibrium in preference over more direct policy instruments. Further, existing models do not generate a bias against trade, implying that pro-trade interventions are as likely as trade-restricting interventions. The greatest contribution of the political economy literature may lie in developing a better grasp of normative economic analysis--that is, in helping design policies, rules, and institutions.

Time-varying World Market Integration

Author : Geert Bekaert
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.X/5 (2 download)

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Book Synopsis Time-varying World Market Integration by : Geert Bekaert

Download or read book Time-varying World Market Integration written by Geert Bekaert and published by . This book was released on 1994 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a conditional measure of capital market integration that allows us to characterize both the cross-section and time-series of expected returns in developed and emerging markets. Our measure, which arises from a conditional regime-switching model, allows us to describe expected returns in countries that are segmented from world capital markets in one part of the sample and become integrated later in the sample. Our results suggest that a number of emerging markets exhibit time-varying integration. Interestingly, some markets appear to be more integrated than one might expect based on prior knowledge of investment restrictions. Other markets appear segmented even though foreigners have relatively free access to their capital markets.

A Theory of the Welfare State

Author : Hans-Werner Sinn
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis A Theory of the Welfare State by : Hans-Werner Sinn

Download or read book A Theory of the Welfare State written by Hans-Werner Sinn and published by . This book was released on 1994 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The welfare state can be seen as an insurance device that makes lifetime careers safer, increases risk taking and suffers from moral hazard effects. Adopting this view, the paper studies the trade-off between average income and inequality, evaluating redistributive equilibria from an allocative point of view. It identifies the properties of an optimal welfare state and shows that constant returns to risk taking are likely to imply a redistribution paradox where more redistribution results in more inequality. In general, optimal taxation will either imply that the redistribution paradox is present or that the economy operates at a point of its efficiency frontier where more inequality implies a lower average income.