We read with interest the Article by Patricia Rodriguez and colleagues1Rodriguez PJ Roberts DA Meisner J et al.Cost-effectiveness of dual maternal HIV syphilis testing strategies in high low prevalence countries: a modelling study.Lancet Glob Health. 2021; 9: e61-e71Summary Full Text PDF PubMed Scopus (2) Google Scholar published The Lancet Global Health which rigorous comprehensive model showe...

The impact of the post-meltdown Federal Reserve policy of ultra-low interest rates and Quantitative Easing (QE) on income and wealth inequality has become an important policy and political issue. Critics have argued that by raising asset prices, near-zero interest rates and QE have significantly contributed to increases in inequality, while practitioners of central banking, counter that the dis...

We provide a simple framework for comparing market allocations with government-regulated allocations. Governments can collect information about individuals’types and enforce transfers across individuals. Markets (without signi…cant government intervention) have to rely on transactions that are ex post bene…cial for individuals. Consequently, governments achieve better risk sharing and consumpti...

Recent sovereign default episodes have been associated with substantial output costs. In this paper, we construct a parsimonious …nite horizon model which captures two key market imperfections: (i) the government’s inability to commit to repay debt; (ii) liquidity constraints in the domestic …nancial sector. We use the model to answer two sets of questions. First, we characterize the optimal so...

Opponents of explicit in‡ation targeting (including ex-Chairman Greenspan) have argued that a commitment to a numerical in‡ation target reduces the policy’s ‡exibility, and may hence increase output volatility. Our paper demonstrates that this claim may fail to account for the anchoring e¤ect of explicit targets on expectations and wages (that has been established empirically in various studies...

Wzx flippases are crucial for bacterial cell surface polysaccharide assembly as they transport undecaprenyl pyrophosphate-linked sugar repeat units from the cytoplasmic to the periplasmic leaflets of the inner membrane (IM) for final assembly. Our recently reported three-dimensional (3D) model structure of Wzx from Pseudomonas aeruginosa PAO1 (WzxPa) displayed a cationic internal vestibule and ...

CMAJ • JANUARY 11, 2011 • 183(1) © 2011 Canadian Medical Association or its licensors E61 While driving to work, a 27-year-old man had a motor vehicle collision; when the police attended the scene they found him to be drowsy and immediately called an ambulance. The man, who was pre viously healthy, presented with slurred speech and rightsided weakness. Earlier that day, he had complained to his...

a r t i c l e i n f o JEL classification: E31 E52 E61 F33 F41 Keywords: Currency union Optimal monetary policy Redistributive monetary policy Financial frictions Interest rate spreads Spread-adjusted Taylor rule We introduce " financial imperfections " – asymmetric net wealth positions, incomplete risk-sharing, and interest rate spreads across member countries – in a prototypical two-country cu...

Monetary and …scal policies interact in many ways. Recently, the stance of …scal policy in a number of countries (including the EU and US) has raised concerns about risks for the outcomes of monetary policy. Our paper …rst shows that these concerns are justi…ed since under an ‘ambitious’…scal policymaker in‡ation bias and lack of monetary policy credibility may obtain in equilibrium even if the...

A prominent theorist of Soviet and East European economics critiques the vision of political and economic processes implicit in shock therapy, defending an alternative, evolutionary approach. The critique of shock therapy rests on both theoretical reasoning and examination of evidence from recent cases. An intensive study of economic change in Poland and Russia since the late-1980s concludes th...