BACKGROUND In response to the increase in the number of American children without health insurance, new federal and state programs have been established to expand health insurance coverage for children. However, the presence of insurance reduces the price of care for families participating in these programs and stimulates the use of medical services, which leads to an increase in health care co...

and two anonymous referees. Errors remain the responsibility of the authors. We are grateful to Helen Cochrane funded by CMPO, Bristol for collecting some of the data used in this study. Abstract This paper examines the impact of a company's pension contributions on its dividend and investment policies. The effects of shocks to cash flows on these corporate expenditures are identified by change...

Recent empirical work Þnds that R&D expenditures are quite procyclical, even for Þrms that are not credit-constrained during downturns. This has been taken as strong evidence against Schumpeterian-style theories of business cycles that emphasize the idea that downturns in production may be good times to allocate labor towards innovative activities. Here we argue that the procyclicality of R&D i...

This paper models a war of attrition where participants first choose contest investment levels that act as a constraint for how long they can compete. To include a measure of the resource’s transferability to other uses (e.g. other contests), expenditures are a convex combination of investment decisions and their ‘bid’ in the contest. It is shown in the symmetric equilibrium that participants u...

We apply recent advances in time substitution modeling to examine the environmental performance of firms in Sweden’s pulp and paper industry for the years 2002 2008. Our data allow us to estimate the optimal reallocation of environmental investments, expenditures and energy use to simultaneously maximize production output and minimize emissions reductions in the years immediately before and aft...

We study the allocation of investment projects by municipal governments across groups of voters using data from a scal stimulus program carried out in Spain between 2009 and 2011. This program provided municipalities with a large endowment to spend in public investments and required the geocoding of each individual project. Combining these data with disaggregated election information at the cen...

Recent empirical work …nds that R&D expenditures are quite procyclical, even for …rms that are not credit-constrained during downturns. This has been taken as strong evidence against Schumpeterian-style theories of business cycles that emphasize the idea that downturns in production may be good times to allocate labor towards innovative activities. Here we argue that the procyclicality of R&D i...

Empirical analysis of firm-level investment in research and development (R&D) and its effect on innovation patterns and productivity has advanced as a result of innovation surveys in many countries. The weak link in the analysis of these surveys is the empirical model of firm R&D choice. In this paper we summarize how a dynamic, structural model of firm investment can be used to estimate firm d...

Many studies have been conducted on the relationship between education as an indicator of human capital and economic growth in our country. However, there have been a few studies regarding the simultaneous impact of health capital and education indicators on the economic growth of the provinces up to now. In this regard, the present study examined the impact of human health indicators and educa...