This paper explains why the overall stance of monetary policy is effected by both interest rates and the exchange rate, and hence why a Monetary Conditions Indicator can provide useful information about the stance of policy. Three output gap equations estimated in this paper reveal that the real interest rate and the real exchange rate both affect excess demand but that the real interest rate i...

Should We Extend the Role of Private Social Expenditure? Some people make great claims about the advantages to be gained from greater reliance on the private sector for the provision of social protection. Many of the claims for great macroeconomic advantages do not stand up to scrutiny. However, there is some reason to hope that private provision might promote microeconomic efficiency and servi...

i n the past decades, the effect of different tax amendments on various economic issues has been studied. the majority of these studies have avoided considering shadow economy as part of the calculation and analysis, and an issue, which has received little attention, is the relationship between green tax reforms and shadow economy, as for informal labor, which is well-connected to unemployment ...

abstract research and development (r&d;) spending plays a major role in innovation, raising productivity and increasing economic growth. the purpose of this paper is to investigate the impact of r&d; spending on growth and total factor productivity (tfp) in iran's agricultural sector. we estimate growth and productivity models using auto-regressive distributed lag (ardl) approach and data over ...

BACKGROUND In the day surgery system are intertwined elements of state health policy, health care payers' interests, employers of health care system, as well as the interests and wishes of patients. A problem in the health policy is to find a way to regulate ambulatory and short-term surgical procedures, which are hardly distinguishable, and still fulfil the requirements of transparent financin...

Stephan Spiekermann, Ulf Landmesser, Sergey Dikalov, Martin Bredt, Graciela Gamez, Helma Vasodilation Activity in Patients With Coronary Artery Disease : Relation to Endothelium-Dependent Electron Spin Resonance Characterization of Vascular Xanthine and NAD(P)H Oxidase Print ISSN: 0009-7322. Online ISSN: 1524-4539 Copyright © 2003 American Heart Association, Inc. All rights reserved. is publish...

JEL CLASSIFICATION C26, C99, D03, I18. PSYCINFO CLASSIFICATION 2360; 3920.

We study the effects of 'balance billing', i.e., allowing physicians to charge a fee from patients in addition to the fee paid by Medicare. First, we show that on pure efficiency grounds the optimal Medicare fee under balance billing is zero. An active Medicare policy thus can only be justified when distributional concerns are accounted for. Extending the analysis by Glazer and McGuire, we ther...

Context. Among optical stellar interferometers, the CHARA Array located at Mt Wilson in California offers the potential of very long baselines (up to 330 m) and the prospect of coupling multiple beam combiners. This paper presents the principle and the measured performance of VEGA, Visible spEctroGraph and polArimeter installed in September 2007 at the coherent focus of the array. Aims. With 0....