We investigate the effects of an increase in liquidity (a “savings glut”) on the incentives to originate high quality assets, and on the fragility of the financial sector. Originators incur private costs when originating high quality assets. Assets are subsequently distributed in two markets: A private market where informed intermediaries operate, and an exchange where uninformed investors trad...

investment shows a combination of demand of firms and supply household savings and due to the volatile nature reflects short-term fluctuations in the economy of any country. this study examines the effect of abundance natural resources on private sector investment through the economic freedom and five main index (government's size, the structure of property rights, access to sound money, f...

The largest decile of commercial electricity customers comprises half of commercial sector electricity usage. We quantify a substantial split incentives problem that exists when these large rms are on electricity-included property lease contracts. Using exogenous variation in weather shocks, we show that customers on tenant-paid contracts use 6-14% less electricity in summer months. The policy ...

The family health center of a family practice training program was eliminated from the county hospital budget following funding cuts, forcing the program faculty to create an independent nonprofit community clinic in which to train residents and provide care to established patients. A county audit of the new clinic after 2 years' operation showed substantial savings, particularly for administra...

Since July 1, 2007, New Zealanders have had a new option for their retirement savings―KiwiSaver―a type of subsidized, defined contribution retirement savings plan offered by private-sector providers. New labor force entrants in permanent positions who are aged 18 or older are automatically enrolled in a KiwiSaver plan, but are able to opt out of the plan if they wish. Also, all individuals youn...

The purpose of this paper was to examine children's education financing alternatives among households in rural China. Data on education financing was from a household survey conducted in three poverty villages in Guizhou, China. The difference in financing education by households was verified through non-parametric testing. Findings show that private savings is dominant in financing education o...

In this paper, we show that the existence of a large, negative wealth shock and insufficient insurance against such a shock could explain both the limited stock market participation puzzle and the low-consumption–high-savings puzzle. We then conduct an empirical analysis on the relation between household portfolio choices and access to private insurance and various types of government safety ne...

The concept of a medical savings account – in its purest form, a vehicle to allow people to save money to spend on health care – was initially developed in the United States in the 1970s. In the 1980s and 1990s the concept was translated into policy in a handful of countries, either as part of a private health insurance market (South Africa and the US) or to complement publicly-financed health ...

OBJECTIVES To compare costs and clinical benefits of three additional therapies to metformin (MF) for patients with diabetes mellitus type 2 (DM2). METHODS A discrete event simulation model was built to estimate the cost-utility ratio (cost per quality-adjusted life years [QALY]) of saxagliptine as an additional therapy to MF when compared to rosiglitazone or pioglitazone. A budget impact mod...

We investigate a government financed voucher program that allows all Americans to buy health insurance in the private insurance market. We investigate whether health insurance vouchers are able to increase the number of people with health insurance and decrease aggregate health care spending that threatens the solvency of Medicare and Medicaid. We develop a multi-generation dynamic general equi...