Measuring Quality-Adjusted Inflation Rates for a Heterogeneous Oligopoly

Risk-adjusted indices for measuring the quality of inpatient care.

This article describes a risk-adjustment method for profiling hospitals and physicians on key measures of clinical quality using readily available administrative data. By comparing actual and expected rates of mortality, complications, readmissions, and patient safety events, this method enables providers to identify both favorable and adverse outcomes performance.

“ Measuring Jobfinding Rates and Matching Efficiency with Heterogeneous

Measuring Underlying Inflation

The primary goal of monetary policy in most countries is low infl ation. And a major consideration for the monetary policy decision is the forecast for infl ation over the next couple of years. One important input into these forecasts is a judgment on the current level of infl ationary pressures. But, unfortunately, the data for headline infl ation released each quarter (in Australia) or each m...

Signaling quality through prices in an oligopoly

Firms signal high quality through high prices even if the market structure is highly competitive and price competition is severe. In a symmetric Bertrand oligopoly where products may differ only in their quality, production cost is increasing in quality and the quality of each firm’s product is private information (not known to consumers or to other firms), we show that there exist fully reveal...

Measuring Real Value and Inflation

The most important economic measures are monetary. They have many different names, are derived in different theories and employ different formulas; yet, they all attempt to do basically the same thing: to separate a change in nominal value into a ‘real part’ due to the changes in quantities and an inflation due to the changes in prices. Examples are: real national product and its components, th...