Chinese are normally believed to be thrifty.However,economic development has had a tremendous impact upon Chinese society,uprooting the long-engraved ideas.With the emergence of the credit cards,spending tomorrow's money becomes a reality.In this way,people are in dilemma:saving money or spending tomorrow's money.Firstly,this paper focuses on the benefits of spending tomorrow's money.Secondly,it shows that spending tomorrow's money is confronted with many challenges.Finally,the paper comes up with some suggestions to solve these problems.
Whillans, Ashley V; Dunn, Elizabeth W; Sandstrom, Gillian M; Dickerson, Sally S; Madden, Kenneth M
Does spending money on others (prosocial spending) improve the cardiovascular health of community-dwelling older adults diagnosed with high blood pressure? In Study 1, 186 older adults diagnosed with high blood pressure participating in the Midlife in the U.S. Study (MIDUS) were examined. In Study 2, 73 older adults diagnosed with high blood pressure were assigned to spend money on others or to spend money on themselves. In Study 1, the more money people spent on others, the lower their blood pressure was 2 years later. In Study 2, participants who were assigned to spend money on others for 3 consecutive weeks subsequently exhibited lower systolic and diastolic blood pressure compared to participants assigned to spend money on themselves. The magnitude of these effects was comparable to the effects of interventions such as antihypertensive medication or exercise. Together, these findings suggest that spending money on others shapes cardiovascular health, thereby providing a pathway by which prosocial behavior improves physical health among at-risk older adults. (PsycINFO Database Record (c) 2016 APA, all rights reserved).
Browning, Martin; Gørtz, Mette
We consider theoretically and empirically the allocation of time and money within the household. The novelty of our empirical work is that we have a survey which provides information on both time use and the allocation of some goods within the household, for the same households. We can consider...
Browning, Martin; Gørtz, Mette
We consider, both theoretically and empirically, the allocation of time and money within the household. The research question is whether a married person who enjoys more leisure than their partner also receives more consumption (which seems to indicate the outcome of power within the household...
Matz, Sandra C; Gladstone, Joe J; Stillwell, David
In contrast to decades of research reporting surprisingly weak relationships between consumption and happiness, recent findings suggest that money can indeed increase happiness if it is spent the "right way" (e.g., on experiences or on other people). Drawing on the concept of psychological fit, we extend this research by arguing that individual differences play a central role in determining the "right" type of spending to increase well-being. In a field study using more than 76,000 bank-transaction records, we found that individuals spend more on products that match their personality, and that people whose purchases better match their personality report higher levels of life satisfaction. This effect of psychological fit on happiness was stronger than the effect of individuals' total income or the effect of their total spending. A follow-up study showed a causal effect: Personality-matched spending increased positive affect. In summary, when spending matches the buyer's personality, it appears that money can indeed buy happiness. © The Author(s) 2016.
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false How can my group spend TAG money? 35.4070 Section 35.4070 Protection of Environment ENVIRONMENTAL PROTECTION AGENCY GRANTS AND OTHER FEDERAL... my group spend TAG money? (a) Your group must use all or most of your funds to procure a technical...
... 50 Wildlife and Fisheries 6 2010-10-01 2010-10-01 false What if I do not spend all the money? 86.73 Section 86.73 Wildlife and Fisheries UNITED STATES FISH AND WILDLIFE SERVICE, DEPARTMENT OF THE... GRANT (BIG) PROGRAM How States Manage Grants § 86.73 What if I do not spend all the money? Funds not...
Dunn, Josh; Derthick, Martha
Since the 1970s, proponents of greater spending in disadvantaged school districts have pursued their goal through litigation in state courts. They have brought suits in 45 of the 50 states. These suits began with claims of equity, which sought to redistribute revenues from rich to poor districts. Disappointed with the results, within a decade the…
Heijink, Richard; Koolman, Xander; Westert, Gert P
Healthcare expenditures rise as a share of GDP in most countries, raising questions regarding the value of further spending increases. Against this backdrop, we assessed the value of healthcare spending growth in 14 western countries between 1996 and 2006. We estimated macro-level health production functions using avoidable mortality as outcome measure. Avoidable mortality comprises deaths from certain conditions "that should not occur in the presence of timely and effective healthcare". We investigated the relationship between total avoidable mortality and healthcare spending using descriptive analyses and multiple regression models, focussing on within-country variation and growth rates. We aimed to take into account the role of potential confounders and dynamic effects such as time lags. Additionally, we explored a method to estimate macro-level cost-effectiveness. We found an average yearly avoidable mortality decline of 2.6-5.3% across countries. Simultaneously, healthcare spending rose between 1.9 and 5.9% per year. Most countries with above-average spending growth demonstrated above-average reductions in avoidable mortality. The regression models showed a significant association between contemporaneous and lagged healthcare spending and avoidable mortality. The time-trend, representing an exogenous shift of the health production function, reduced the impact of healthcare spending. After controlling for this time-trend and other confounders, i.e. demographic and socioeconomic variables, a statistically significant relationship between healthcare spending and avoidable mortality remained. We tentatively conclude that macro-level healthcare spending increases provided value for money, at least for the disease groups, countries and years included in this study.
Hill, Paul T.
Public school funding in the United States is not a product of intelligent design. Funding programs have grown willy-nilly based on political entrepreneurship, interest group pressure, and intergovernmental competition. Consequently, now that Americans feel the need to educate all children to high standards, no one knows for sure how money is used…
Sudulich, M.L.; Wall, M.
We present a novel approach to the study of campaign effectiveness using disaggregated spending returns from the 2007 Irish general election. While previous studies have focused on overall levels of expenditure as a predictor of electoral success, we consider the types of activities on which
Lara B Aknin
Full Text Available Previous research has shown that spending money on others (prosocial spending increases happiness. But, do the happiness gains depend on who the money is spent on? Sociologists have distinguished between strong ties with close friends and family and weak ties--relationships characterized by less frequent contact, lower emotional intensity, and limited intimacy. We randomly assigned participants to reflect on a time when they spent money on either a strong social tie or a weak social tie. Participants reported higher levels of positive affect after recalling a time they spent on a strong tie versus a weak tie. The level of intimacy in the relationship was more important than the type of relationship; there was no significant difference in positive affect after recalling spending money on a family member instead of a friend. These results add to the growing literature examining the factors that moderate the link between prosocial behaviour and happiness.
Aknin, Lara B; Sandstrom, Gillian M; Dunn, Elizabeth W; Norton, Michael I
Previous research has shown that spending money on others (prosocial spending) increases happiness. But, do the happiness gains depend on who the money is spent on? Sociologists have distinguished between strong ties with close friends and family and weak ties--relationships characterized by less frequent contact, lower emotional intensity, and limited intimacy. We randomly assigned participants to reflect on a time when they spent money on either a strong social tie or a weak social tie. Participants reported higher levels of positive affect after recalling a time they spent on a strong tie versus a weak tie. The level of intimacy in the relationship was more important than the type of relationship; there was no significant difference in positive affect after recalling spending money on a family member instead of a friend. These results add to the growing literature examining the factors that moderate the link between prosocial behaviour and happiness.
Research within positive psychology has shown that spending money on other people (prosocial spending) makes you happier than spending it on yourself (proself spending). The present study tested and extended this idea. Also, how an active or a passive choice in spending affect happiness has been tested. Lastly, this study is the first one to test the effect of nudging on happiness by examining the role of choice, defaults in spending. Three measures of subjective well-being (SWB) was used bef...
Heijink, R.; Koolman, X.; Westert, G.P.
Healthcare expenditures rise as a share of GDP in most countries, raising questions regarding the value of further spending increases. Against this backdrop, we assessed the value of healthcare spending growth in 14 western countries between 1996 and 2006. We estimated macro-level health production
Borras, Laurence; Mohr, Sylvia; Boucherie, Maria; Dupont-Willemin, Sophie; Ferrero, François; Huguelet, Philippe
Although most patients with schizophrenia rely on state financial support, little is known about their expenses and how they use the money at their discretion. However, the ability to budget is a predictive factor in rehabilitation. An assessment of financial management skills could make it possible to develop more appropriate psycho-social assistance. Fifty-seven outpatients with schizophrenia treated in the public sector in Geneva, Switzerland took part in the study. Psychosocial, diagnostic, neurocognitive and symptomatological measures were collected. Data were gathered on patients' incomes and quality of life. A prospective analysis of their expenses during a 1-month period was also performed. Median income was 4,125 Swiss francs per month (i.e., 3,372 US dollars). After paying fixed expenses (which were handled with or without the assistance of a representative payee), a mean of 400 Swiss francs remained at their disposal to use as they wished. Seventy-two percent of this money was devoted to the use of psychoactive substances (e.g., cigarettes, alcohol, cannabis) or various drinks in coffee houses, and 28% on leisure activities (trips, sports and other recreational activities). Eighty-four percent of patients would have liked to have more money for leisure activities. The study was well-accepted and led to modification of the treatment plan in 84% of cases. Most of the discretionary money patients received was used for buying substances with addictive properties; this may hinder the practice of activities favouring recovery. Thus, it appears essential to guide patients in the management of their budgets.
... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Monthly report for money... money market funds. (a) Report. Every registered open-end management investment company, or series thereof, that is regulated as a money market fund under § 270.2a-7 must file with the Commission a monthly...
Rucker C. Johnson
Full Text Available Title I funding has been the largest federal program of K–12 education for the past fifty years, the objective being to eliminate the educational disadvantage associated with poverty. I provide new evidence on the long-term effects of school spending from Title I on children's educational and adult economic outcomes. To study effects of Title I, I link school district spending and administrative data on Title I funding to nationally representative data on children born between 1950 and 1977 and followed through 2011. Models include controls for birth cohort and school district fixed effects, childhood family–neighborhood characteristics, and other policies. I find that increases in Title I funding are significantly related to increases in educational attainment, high school graduation rates, higher earnings and work hours, reductions in grade repetition, school suspension or expulsion, incarceration, and reductions in the annual incidence of poverty in adulthood; effects on educational outcomes are more pronounced for poor children.
Alsawaf, Mohammad Anas; Jatoi, Aminah
How much money might cancer patients be spending on-line for nutrition-based complementary and alternative medicine therapies? This question is relevant because over $34 billion per year is spent on complementary and alternative medicine in the United States, and the Internet has facilitated the acquisition of such therapies. We therefore conducted a "patient simulation exercise" in which the Internet was surfed for nutrition-based therapies, which were touted as therapeutic or palliative in the cancer setting. Monthly costs for each agent were calculated. Agents with clinical evidence of efficacy were excluded. A search of 2,500 Web sites and related pages revealed a total of 16 different products. The monthly cost of each ranged from to $4.33 to $263.00. The median cost of a single agent was $27.00 per month. This study emphasizes the need for health care providers to undertake with cancer patients a comprehensive discussion of therapeutic options--including those relevant to nutrition-based complementary and alternative medicine. A compassionate discussion of patients' out-of-pocket costs should be an integral part of that discussion and should be emphasized as an important dimension of patient education efforts.
Nina Ilona Ellinger
Full Text Available The question: ‘What would be the best way to use ten million dollars?’ leads to many other questions when related to anti-trafficking work. What should the money be spent on? Who should be appointed to spend the money? And, perhaps most importantly, who should be the beneficiaries? In other words, are the ten million dollars to prevent trafficking of people meant for activities to stop smuggling of people, to stop unwanted migrants, or to protect and uphold people’s rights when they move across borders and need to be protected from trafficking? Would the money be best spent on anti-trafficking work, or would it be better spent on strengthening the rights of all migrants to minimise the risk of trafficking?
Provides an example for how to set up a pocket spending guide. By filling out the guide and keeping it with you, you can easily see at any time how much money you have available to spend in each category. A pocket spending guide will help you adjust your spending plan to make your money go where you really want it to go.
King, Daniel L; Russell, Alex; Gainsbury, Sally; Delfabbro, Paul H; Hing, Nerilee
Background and aims Social casino games (SCGs) are not technically considered a form of gambling but they do enable players to spend money in a game that is gambling themed or structurally approximate to gambling. It has been theorized that SCGs could be a gateway to gambling activities or otherwise normalize the experience of gambling for young people, particularly when money becomes involved. The aim of this study was to investigate whether adolescents' financial expenditure in SCGs was associated with broader gambling activity, including level of participation, expenditure, and problem gambling symptoms. Methods An online survey was administered to 555 adolescents, including 130 SCG players (78 non-paying and 52 paying users). Results Paying SCG users tended to be employed males who play more frequently and engage in more SCG activities, who report more symptoms of problem gambling and higher psychological distress than non-paying SCG users. Paying SCG users reported more frequent engagement and spending in monetary gambling activities, and two-thirds of SCG payers recalled that their SCG use had preceded involvement in financial gambling. Discussion and conclusions Spending in simulated gambling activities by adolescents may be a risk factor for problem gambling. Although SCGs may currently defy classification as a form of gambling, these activities will likely continue to be scrutinized by regulators for the use of dubious or exploitative payment features offered in a gambling-themed format that is available to persons of all ages.
David Alan Aschauer
This paper contains an investigation of the effects of different means of financing government spending on economic growth, inflation, and welfare. In this setting, two different types of government spending are considered: productive expenditures which provide services to the private sector in its production activities; and unproductive expenditures which have no direct influence on the private economy. In turn, two different forms of finance are considered: proportional income taxation; and...
Fermanich, Mark L.
Evidence suggests that accountability and financial pressures are causing schools across the country to reduce investments in subject areas that are not assessed for accountability purposes. However, due to the design of financial reporting systems in most states, inadequate data are available to analyze spending levels and patterns for specific…
(1) In Canadian office practices, physicians spent 2.2 hours per week interacting with payers, nurses spent 2.5 hours, and clerical staff spent 15.9 hours. In U.S. practices, physicians spent 3.4 hours per week interacting with payers, nurses spent 20.6 hours, and clerical staff spent 53.1 hours. (2) Canadian physician practices spent $22,205 per physician per year on interactions with health plans. U.S. physician practices spent $82,975 per physician per year. (3) U.S. physician practices spend $60,770 per physician per year more (approximately four times as much) than their Canadian counterparts.
French, Eric; Aragon, Maria; Mccauley, Jeremy
Although end-of-life medical spending is often viewed as a major component of aggregate medical expenditure, accurate measures of this type of medical spending are scarce. We used detailed health care data for the period 2009–11 from Denmark, England, France, Germany, Japan, the Netherlands, Taiw...... but to spending on people with chronic conditions, which are associated with shorter life expectancies....
Hess, Frederick M.
According to Frederick Hess, the point of rethinking pay is not to bribe teachers into working harder, but to redefine the contours of education so the profession can attract and retain good teachers. Traditional step-and-lane pay is ill suited to do so in a world of career-changing, scarce talent, and heightened expectations. Well-designed…
French, E.; Klein, Tobias; a., e.
Although end-of-life medical spending is often viewed as a major component of aggregate medical expenditure, accurate measures of this type of medical spending are scarce. We used detailed health care data for the period 2009–11 from Denmark, England, France, Germany, Japan, the Netherlands, Taiwan,
Expenditures on further education (FE) in England were examined as part of the Comprehensive Spending Review (CSR), which was a zero-based budgeting exercise performed by the Labour government for a 3-year period covering 1999-2002. The CSR increased total FE funding by 7% in 1999-2000. When the anticipated 5% increase in FE enrollments and…
Xiao, Yongling; Muser, Erik; Fu, Dong-Jing; Lafeuille, Marie-Hélène; Pilon, Dominic; Emond, Bruno; Wu, Allen; Duh, Mei Sheng; Lefebvre, Patrick
Compared to oral atypical antipsychotics (OAAs), long-acting injectable antipsychotics require less frequent administration, and thus may improve adherence and reduce risk of relapse in schizoaffective disorder (SAD) patients. To evaluate the impact of once monthly paliperidone palmitate (PP) versus OAAs on healthcare resource utilization, Medicaid spending, and hospital readmission among SAD patients. Using FL, IA, KS, MS, MO, and NJ Medicaid data (January 2009-December 2013), adults with ≥2 SAD diagnoses initiated on PP or OAA (index date) were identified. Baseline characteristics and outcomes were assessed during the 12month pre- and post-index periods, respectively. Propensity score matching (PSM) and inverse probability of treatment weighting (IPTW) were used to reduce confounding and compare the estimated treatment effect for PP versus OAA. A total of 10,778 OAA-treated patients and 876 PP-treated patients were selected. Compared to OAAs, PP was associated with significantly lower medical costs (PSM: mean monthly cost difference [MMCD] = -$383, p < 0.001; IPTW: MMCD = -$403, p = 0.016), which offset the higher pharmacy costs associated with PP (PSM: MMCD = $270, p < 0.001; IPTW: MMCD = $350, p < 0.001) and resulted in similar total healthcare cost (PSM: MMCD = -$113, p = 0.414; IPTW: MMCD = -$53, p = 0.697) for PP versus OAA. Reduced risk of hospitalization (PSM: incidence rate ratio [IRR] = 0.85, p = 0.128; IPTW: IRR = 0.96, p = 0.004) and fewer hospitalization days (PSM: IRR = 0.74, p = 0.008; IPTW: IRR = 0.85, p < 0.001) were observed in PP versus OAA patients. Among hospitalized patients, PP was associated with a lower risk of 30 day hospital readmission compared to OAA (IPTW: odds ratio = 0.89, p = 0.041). Limitations The Medicaid data may not be representative of the nation or other states, and includes pre-rebate pharmacy costs (potentially over-estimated). Also
Tsai, Jack; Rosenheck, Robert A
There has long been concern that public support payments are used to support addictive behaviors. This study examined the amount of money homeless veterans spend on alcohol and drugs and the association between public support income, including VA disability compensation, and expenditures on alcohol and drugs. Data were from 1,160 veterans from 19 sites on entry into the Housing and Urban Development-Veterans Affairs Supportive Housing program. Descriptive statistics and nonparametric analyses were conducted. About 33% of veterans reported spending money on alcohol and 22% reported spending money on drugs in the past month. No significant association was found between public support income, VA disability compensation, and money spent on alcohol and drugs. A substantial proportion of homeless veterans spend some income on alcohol and drugs, but disability income, including VA compensation, does not seem to be related to substance use or money spent on addictive substances.
Montgomery County of Maryland — This dataset includes County spending data for Montgomery County government. It does not include agency spending. Data considered sensitive or confidential and will...
Domino, Marisa Elena; Olinick, Joshua; Sleath, Betsy; Leinwand, Sharman; Byrns, Patricia J; Carey, Tim
A state Medicaid program's pharmacy expenditures associated with dispensing one- and three-month supplies of drugs were examined. We simulated the effect of a policy change from a maximum of a 100-day supply of prescription medication to one where only a 34-day supply was allowed. All North Carolina prescription claims from Medicaid enrollees who filled a prescription for at least one of six medication categories during fiscal years 1999 and 2000 were included. The six categories were angiotensin-converting-enzyme inhibitors, antiulcers, antipsychotics, nonsteroidal antiinflammatory drugs, selective serotonin-reuptake inhibitors, and sulfonylureas. The dollar value of the medication wasted, the amount of medication wastage diverted after a change to a shorter prescription length, and the total costs incurred by the increases in prescription refills were calculated. For each therapeutic category, 255,000-783,000 prescription drug claims were analyzed. No valid drug claims were excluded for any reason. Although 5-14% of total drug wastage, attributed to switches of drug therapy, could be saved by dispensing a 34-day supply, this saving could not make up for a larger increase in dispensing costs, as consumers would fill prescriptions more often. In addition, reducing the amount of drug dispensed each time may be costly to consumers through increased transportation and other expenses. Simulated calculation showed that the cost of drug therapy to North Carolina's Medicaid program would probably increase if 34-day rather than 100-day supplies of medications are dispensed to patients.
... for performance, coordination of care, health technology assessment and clinical guidelines, pharmaceutical reimbursement and risk-sharing agreements, and information and communication technology...
Investigate how the food you choose affects the amount of money you spend and your health. Calculate how much money you spend on food, explore motives for your food choices, examine the nutritional quality of the food you buy, and identify easy ways to make healthier, lower cost food choices.
Rachma, Meutia Safrina
There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5)-2010(6), the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not hav...
Rachma, Meutia Safrina
There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5)-2010(6), the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not hav...
L. Randall Wray
This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The role of government as both regulator of private institutions and provider of finance is also discussed, and related topics such as liquidity and saving are explored. We conclude with a look at some of the new innovations in finance, and at the global financial...
City and County of Durham, North Carolina — This map shows the average household spending potential for retail goods in the United States in 2012. Spending potential data measures household consumer spending...
Monga, Ashwani; Zor, Ozum
Consumers are known to spend both time and money. These two resources are often seen as economically comparable because the value of one's time can be equated to a monetary amount, such as one's wage rate. Recent research suggests that even when time and money are economically equivalent, they are psychologically different. We discuss how time (versus money) leads to decision making that is more heuristic rather than systematic, to an orientation that is more emotional rather than value-maximizing, to a thinking process that is more holistic rather than analytic, and to a mindset that is more abstract rather than concrete. Implications arise for a variety of domains such as consumer search, happiness, product evaluation, and charitable giving. Copyright © 2018 Elsevier Ltd. All rights reserved.
The thesis deals with evaluation of ant-money laundering effectiveness. In theoretical part money laundering, FATF (Financial Ask Task Force) and AML(anti-money laundering) are defined. Practical part concentrates on the biggest scandals of the latest years and assessment of AML effectiveness. Based on this evaluation, weak places in AML mechanisms were identified. Additionally, tools of AML improvement were determined.
Houlberg, Kurt; Olsen, Asmus Leth; Pedersen, Lene Holm
This article investigates politicians’ preferences for cutting and spending. The research questions are where do politicians prefer to cut, where do they prefer to spend and how is this influenced by political ideology? These questions are investigated in a large-scale survey experiment fielded...... to Danish local councillors, who are randomly assigned to a decision-making situation, where the block grant provided to their municipality is either increased or reduced. The results show that the politicians’ preferences for cutting and spending are asymmetric, in the sense that the policy areas, which...... are assigned the least cuts when the grant is reduced, are rarely the ones which are assigned extra money when the grant is increased. Areas with well-organised interests and a target group which is perceived as deserving are granted more money, whereas policy areas where the target group is perceived as less...
Punitha, V C; Amudhan, A; Sivaprakasam, P; Rathnaprabhu, V
To explore the influence of pocket money on Dental Caries and Body Mass Index. A cross-sectional study was conducted wherein urban adolescent schoolchildren of age 13-18(n=916) were selected by two stage random sampling technique. Dental caries was measured using the DMFT Index. The children's nutritional status was assessed by means of anthropometric measurements. Body Mass Index using weight and height of children was evaluated using the reference standard of the WHO 2007. RESULTS showed that 50% of children receive pocket money from parents. The average amount received was Rs. 360/month. There was a significant correlation between age and amount of money received (r=0.160, p=.001). The average amount received by male children was significantly higher (Rs. 400) when compared to female children (Rs. 303). It was observed that income of the family (>30,000 Rs./month) and socioeconomic status (Upper class) was significantly dependent on the amount of money received by children (ppocket money or not. When BMI categories and pocket money were considered, statistically significant difference was seen among overweight and obese and normal weight children (ppocket money from parents could influence their eating habits in turn affect general health. Parents and teachers should motivate children on healthy spending of their pocket money.
Hibbert, Kathy; Coulson, Elizabeth
While many high school students confess a desire to develop personal money management skills, statistics tracking the average Canadian's personal debt underscore the need to ensure the youth have the tools they need for financial success. What would it take to motivate teens to learn more about how they spend and manage their money? The authors…
This scientifically representative poll of 1,200 Floridians finds that public opinion about K-12 public education spending is seriously misinformed. Floridians think public schools need more money, but the main reason is that they are badly mistaken about how much money the public schools actually get. Key findings of the study include: (1) Half…
Money markets offer monetary services and short-term finance in the capital market with the credit support of institutional sponsors. Investors finance money market instruments at low interest because their salability on short notice confers an implicit monetary services yield. Low interest attracts borrowers to money markets. The fragile equilibrium depends on collective confidence in the credit quality of instruments supplied to the market. Federal Reserve monetary and credit policies have ...
U.S. Department of Health & Human Services — CMS has released several information products that provide spending information for prescription drugs in the Medicare and Medicaid programs. The CMS Drug Spending...
Meutia Safrina Rachma
Full Text Available There has been a long debate about the endogeneity of money supply. The main objective of this article is to identify whether money supply in Indonesia is an exogenous or an endogenous variable. Using a Vector Autoregressive model and monthly data 1997(5-2010(6, the estimation result shows that money supply in Indonesia is an endogenous variable. The movement of broad money supply does influence the movement of base money and Consumer Price Index. Consequently, the central bank does not have control power on money supply. The bank is only able to maintain the stability and control the movement of broad money supply. Keywords: Endogenous variable, money supply, vector autoregressionJEL classification numbers: E51, E52, E58
Peetz, Johanna; Soliman, Monica
Motivated perception has been shown to affect people's estimates of money (e.g., perceiving coins as larger than real size). In the present research, we examine whether simply varying the size of a picture of money can affect its perceived value and subsequent decisions. Participants presented with a picture of money enlarged by 15% perceived the depicted money as more valuable compared with those seeing a real-size picture (Study 1). When told to imagine their own cash and banked money in the depicted form, participants presented with a picture enlarged by 15% felt more subjectively wealthy and reported fewer intentions to conserve their money compared with those seeing a real-size picture of the same money (Study 2). Together, these studies suggest that judgments about money and even attitudes toward personal spending can be influenced by manipulating the size of a picture of money. © The Author(s) 2016.
From using virtualization technology to accepting lunch payments online, school districts are seeking money-saving methods. In this article, the author discusses some methods used by school districts that allow them to save money from using virtualization technology to accepting lunch payments online.
This chapter provides an overview of the role of the European Union in the emergence, consolidation and development of the governance of money laundering. In particular, it identifies three sets of factors that explain the role of the European Union in the global Anti-Money Laundering (AML) regime...
Roelsgaard Obling, Anne
Book review of: Kevin Roose: "Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits". New York: Grand Central Publishing, 2014. 320 pp.......Book review of: Kevin Roose: "Young Money: Inside the Hidden World of Wall Street's Post-Crash Recruits". New York: Grand Central Publishing, 2014. 320 pp....
Avital, Michel; Hedman, Jonas; Albinsson, Lars
transaction costs by providing seamless real-time payments. In addition, digital legal tender that is based on blockchain technology can provide a foundation for customizable “smart money” which can be used to manage the appropriation of money and its use. In essence, the smart money is a customizable value...
Full Text Available This article is not a comprehensive factual history of money as an economic instrument. It aims rather to present an essential psychological history of the power of money as a social organization or social technology. It explores the catalytic role of money in the development of society and its ever-increasing capacity for accomplishment in both economic and non-economic fields. This perspective focuses attention on the unutilized potential for harnessing the social power of money for promoting full employment, global development and human welfare. The title ‘multiplying money’ is intended to convey the idea that this untapped potential is exponential in nature. In order to recognize it, some fundamental misconceptions about the nature of money, how it is created and on what it is based need to be examined. This is the second article in a series.
Avital, Michel; Hedman, Jonas; Albinsson, Lars
Legal tender in the form of coins and banknotes is expected to be replaced at one point in the future by digital legal tender. This transformation is an opportunity for central banks to rethink the idea of money and overhaul the prevailing payment systems. Digital legal tender is expected to reduce...... exchange instrument that relies on computer protocols to facilitate, verify, and enforce certain conditions for its appropriation as payment, e.g. who may use the money, where, and for what. If we believe that digital legal tender will become ubiquitous, then the emergence and diffusion of smart money...
Money laundering is marginalized phenomenon with high social impact which comes from necessary connection of this activity with illegal activities, especially organized crime. Since the goal of almost every illegal activity is to create profit (and since the biggest profit comes from the activities which are highly dangerous for the society, such as drug trafficking) it is vital for the society to fight money laundering effectively. It is in the best interest of the whole society to fight thi...
De Grauwe, Paul; Polan, Magdalena
We provide evidence indicating that countries with well-developed social security systems do not necessarily face a trade-off between social spending and competitiveness. On average, countries that spend a lot on social needs score well in the competitiveness league. We investigate the importance of a reverse causality from competitiveness to social spending, and find that this is weak. We also present some possible explanations for our empirical finding. Finally, we interpret our findings in...
Macfarlane, Laurie; Ryan-Collins, Josh; Bjerg, Ole; Nielsen, Rasmus; McCann, Duncan
Who has control over the supply of new money and what benefits does it bring? There is now widespread acceptance that in modern economies, commercial banks, rather than the central bank or state, create the majority of the money supply. This report examines ‘seigniorage’ – the profits that are generated through the creation of money. We show that in the UK, commercial bank seigniorage profits amount to a hidden annual subsidy of £23 billion, representing 73% of banks’ profits after prov...
Macfarlane, Laurie; Ryan-Collins, Josh; Bjerg, Ole
Who has control over the supply of new money and what benefits does it bring? There is now widespread acceptance that in modern economies, commercial banks, rather than the central bank or state, create the majority of the money supply. This report examines ‘seigniorage’ – the profits...... that are generated through the creation of money. We show that in the UK, commercial bank seigniorage profits amount to a hidden annual subsidy of £23 billion, representing 73% of banks’ profits after provisions and taxes....
Reed, Elizabeth; Donta, Balaiah; Dasgupta, Anindita; Ghule, Mohan; Battala, Madhusudana; Nair, Saritha; Silverman, Jay; Jadhav, Arun; Palaye, Prajakta; Saggurti, Niranjan; Raj, Anita
Objectives The social positioning (i.e. social status and autonomy) of women in the household facilitates women's access to and decision-making power related to family planning (FP). Women's access to spending money, which may be an indicator of greater social positioning in the household, may also be greater among women who engage in income generating activities for their families, regardless of women's status in the household. However, in both scenarios, access to money may independently afford greater opportunity to obtain family planning services among women. This study seeks to assess whether access to money is associated with FP outcomes independently of women's social positioning in their households. Methods Using survey data from married couples in rural Maharashtra, India (n = 855), crude and adjusted regression was used to assess women's access to their own spending money in relation to past 3 month use of condoms and other forms of contraceptives (pills, injectables, intrauterine device). Results Access to money (59 %) was associated with condom and other contraceptive use (AORs ranged 1.5-1.8). These findings remained significant after adjusting for women's FP decision-making power in the household and mobility to seek FP services. Conclusion While preliminary, findings suggest that access to money may increase women's ability to obtain FP methods, even in contexts where social norms to support women's power in FP decision-making may not be readily adopted.
The science budget will grow by more than 4 per cent over the previous year in each of the next three years. Over the next three months the research councils will battle it out to see how much of these extra funds each will receive. The areas identified by the councils for the extra money include bioinformatics, information technology, nanotechnology and post-genomic research (1 page).
School library budgets are about as miserably low or nonexistent as many librarians have ever seen. The population of school librarians who have not just one, but "many" school libraries to manage is growing. Time and funds are short, and needs for books, programming, and technology are high. Grant money is out there for librarians, and the author…
Woon Gyu Choi; Seonghwan Oh
This paper explores the behavior of money demand by explicitly accounting for the money supply endogeneity arising from endogenous monetary policy and financial innovations. Our theoretical analysis indicates that money supply factors matter in the money demand function when the money supply partially responds to money demand. Our empirical results with U.S. data provide strong evidence for the relevance of the policy stance to the demand for MI under a regime in which monetary policy is subs...
Deleire, Thomas; Kalil, Ariel
Increasing rates of cohabitation in the United States raise important questions about how cohabitation fits in with the definition of family. Answers to this question depend in part upon the extent to which cohabitors behavior differs from that of other family types. Using data from the Consumer Expenditure Survey, we compare the expenditure…
Grubb, W. Norton
The Money Myth is the contention that any education problem requires increased spending and, conversely, that reform is impossible without more funding. However, increased funding works for only certain kinds of school resources. Many reforms require resources that money cannot buy. What is needed are reforms that build the capacity of schools to…
Christensen, Bent Jesper; Gørtz, Mette; Kallestrup-Lamb, Malene
is responsible for more than twice as much spending on health as the richest, and this reverse social gradient is even stronger for long-term care and is stronger among men than among women, especially in hospital expenses. Expenditures in the year (over the three years) before death are nearly 12 times...... (respectively nine times) higher than average, but nevertheless are only 11 per cent (respectively a quarter) of lifetime spending. Out-of-pocket expenses on prescription drugs only amount to 3 per cent of total health expenditures and are less concentrated than these....
Reed, Elizabeth; Donta, Balaiah; Dasgupta, Anindita; Ghule, Mohan; Battala, Madhusudana; Nair, Saritha; Silverman, Jay; Jadhav, Arun; Palaye, Prajakta; Saggurti, Niranjan; Raj, Anita
Objectives The social positioning (i.e. social status and autonomy) of women in the household facilitates women’s access to and decision-making power related to family planning (FP). Women’s access to spending money, which may be an indicator of greater social positioning in the household, may also be greater among women who engage in income generating activities for their families, regardless of women’s status in the household. However, in both scenarios, access to money may independently afford greater opportunity to obtain family planning services among women. This study seeks to assess whether access to money is associated with FP outcomes independently of women’s social positioning in their households. Methods Using survey data from married couples in rural Maharashtra, India (n=855), crude and adjusted regression was used to assess women’s access to their own spending money in relation to past 3 month use of condoms and other forms of contraceptives (pills, injectables, intrauterine device). Results Access to money (59%) was associated with condom and other contraceptive use (AORs ranged: 1.5 – 1.8). These findings remained significant after adjusting for women’s FP decision-making power in the household and mobility to seek FP services. Conclusion While preliminary, findings suggest that access to money may increase women’s ability to obtain FP methods, even in contexts where social norms to support women’s power in FP decision-making may not be readily adopted. PMID:26971270
This review is about the convenience, the benefits, as well as the destructive capacities of money. It deals with various aspects of money creation, with its value, and its appropriation. All sorts of money tend to get corrupted by eventually creating too much of them. In the long run, this renders money worthless and deprives people holding it. This misuse of money creation is inevitable and should come as no surprise. Abusive money creation comes in various forms. In the present fiat money ...
Lara B. Aknin; Christopher P. Barrington-Leigh; Elizabeth W. Dunn; John F. Helliwell; Robert Biswas-Diener; Imelda Kemeza; Paul Nyende; Claire E. Ashton-James; Michael I. Norton
This research provides the first support for a possible psychological universal: human beings around the world derive emotional benefits from using their financial resources to help others (prosocial spending). Analyzing survey data from 136 countries, we show that prosocial spending is consistently associated with greater happiness. To test for causality, we conduct experiments within two very different countries (Canada and Uganda) and show that spending money on others has a consistent, ca...
The econometric analysis of the demand for broad money in Latvia suggests a stable relationship of money demand. The analysis of parameter exogeneity indicates that the equilibrium adjustment is driven solely by the changes in the amount of money. The demand for money in Latvia is characterised by relatively high income elasticity typical for the economy in a monetary expansion phase. Due to stability, close fit of the money demand function and rapid equilibrium adjustment, broad money aggreg...
Full Text Available No abstract available. Article truncated at 150 words. Many years ago there was a Federal whistleblower, Deep Throat, who leaked confidential Government information about the Nixon White House to reporters from the Washington Post. Fans of the book and movie will remember that his famous line was, “Follow the money.” That line came to mind when an article appeared in Health Affairs summarizing the US health care expenditures for 2010 (1. The main gist of the article is that the rate of growth in health care expenditures had slowed to only 3.9% and approximated the slowed growth from 2009 which was 3.8%. Previously the growth had been much larger averaging 7.2% from 2000-8 (2. The article points out that during recession expenditures usually slow but the expected decline in healthcare expenditures usually occurs far after the beginning of the recession. The authors state that the “lagged slowdown in health spending growth from the recent recession occurred more quickly …
Cullinane Thomas, Catherine; Huber, Christopher; Koontz, Lynne
The National Park System covers more than 84 million acres and is comprised of more than 401 sites across the Nation. These lands managed by the National Park Service (NPS) serve as recreational destinations for visitors from across the Nation and around the world. On vacations or on day trips, NPS visitors spend time and money in the gateway communities surrounding NPS sites. Spending by NPS visitors generates and supports a considerable amount of economic activity within park gateway economies. The NPS has been measuring and reporting visitor spending and economic effects for the past 25 years. The 2012 analysis marked a major revision to the NPS visitor spending effects analyses, with the development of the Visitor Spending Effects model (VSE model) which replaced the previous Money Generation Model (see Cullinane Thomas et al. (2014) for a description of how the VSE model differs from the previous model). This report provides updated VSE estimates associated with 2014 NPS visitation.
Böing, Tobias; Stadtmann, Georg
We empirically evaluate the predictive power of money growth measured by M2 for stock returns of the S&P 500 index. We use monthly US data and predict multiperiod returns over 1, 3, and 5 years with long-horizon regressions. In-sample regressions show that money growth is useful for predicting returns. Higher recent money growth has a significantly negative effect on subsequent returns of the S&P 500. An out-of-sample analysis shows that a simple model with money growth as a single predictor ...
Full Text Available Few to almost none sports teams measure the entertainment value they provide to fans in exchange of the money the latter ones spend on admission fees. Scientific literature oversees the issue as well. The aim of this paper is to present a model that can be used for calculating value for money in the context of spectating sports. The research question asks how can value for money be conceptualized and measured for sports marketing purposes? Using financial and sporting variables, the method calculates how much money, on average, a fan had to spend for receiving quality entertainment – defined as won matches – from his favorite team, during the last season of the Romanian first division football championship. The results only partially confirm the research hypothesis, showing that not just price and sporting performances may influence the value delivered to fans, but other factors as well.
Goodman, Lynne S.
'Money makes the world go round', as the song says. It definitely influences decommissioning decision-making and financial assurance for future decommissioning. This paper will address two money-related decommissioning topics. The first is the evaluation of whether to continue or to halt decommissioning activities at Fermi 1. The second is maintaining adequacy of financial assurance for future decommissioning of operating plants. Decommissioning costs considerable money and costs are often higher than originally estimated. If costs increase significantly and decommissioning is not well funded, decommissioning activities may be deferred. Several decommissioning projects have been deferred when decision-makers determined future spending is preferable than current spending, or when costs have risen significantly. Decommissioning activity timing is being reevaluated for the Fermi 1 project. Assumptions for waste cost-escalation significantly impact the decision being made this year on the Fermi 1 decommissioning project. They also have a major impact on the estimated costs for decommissioning currently operating plants. Adequately funding full decommissioning during plant operation will ensure that the users who receive the benefit pay the full price of the nuclear-generated electricity. Funding throughout operation also will better ensure that money is available following shutdown to allow decommissioning to be conducted without need for additional funds
Keywords: money market, monetary policy, money, financial markets. 1. ..... Both sides of the banks' consolidated balance sheet increase by USD 100 million. ... As substantiation of the statement that the KIR substantially influencing the.
Simmel, Georg; Frisby, David; Bottomore, Tom
In The Philosophy of Money, Georg Simmel provides us with a now classic discussion of the social, psychological and philosophical aspects of the money economy, full of brilliant insights into the forms that social relationships take.
Does thinking about time, rather than money, influence how effectively individuals pursue personal happiness? Laboratory and field experiments revealed that implicitly activating the construct of time motivates individuals to spend more time with friends and family and less time working-behaviors that are associated with greater happiness. In contrast, implicitly activating money motivates individuals to work more and socialize less, which (although productive) does not increase happiness. Implications for the relative roles of time versus money in the pursuit of happiness are discussed.
Montgomery County of Maryland — The purpose of this Spending Disclosure Fiscal Year 12 dataset is to allow the public to search and view summary information on payments made to recipients (referred...
Garbinsky, E.; Klesse, A.K.; Aaker, J.
Across five studies, this research reveals that feeling powerful increases saving. This effect is driven by the desire to maintain one’s current state. When the purpose of saving is no longer to accumulate money but to spend it on a status-related product, the basic effect is reversed, and those who
Bracey, Gerald W.
Eric Hanushek's conclusion that money does not matter in public education is debatable. His latest meta-analysis reviews many articles from economics journals, while omitting several published in education journals. He finds no relationship between test results and spending, yet labels schools inefficient. In other research, the Annie Casey…
U.S. Department of Health & Human Services — The "Medicare hospital spending per patient (Medicare Spending per Beneficiary)" measure shows whether Medicare spends more, less or about the same per Medicare...
U.S. Department of Health & Human Services — The "Medicare hospital spending per patient (Medicare Spending per Beneficiary)" measure shows whether Medicare spends more, less or about the same per Medicare...
U.S. Department of Health & Human Services — The "Medicare hospital spending per patient (Medicare Spending per Beneficiary)" measure shows whether Medicare spends more, less or about the same per Medicare...
Thomas, P. J.
Measurement of the utility of money is essential in the insurance industry, for prioritising public spending schemes and for the evaluation of decisions on protection systems in high-hazard industries. Up to this time, however, there has been no universally agreed measure for the utility of money, with many utility functions being in common use. In this paper, we shall derive a single family of utility functions, which have risk-aversion as the only free parameter. The fact that they return a utility of zero at their low, reference datum, either the utility of no money or of one unit of money, irrespective of the value of risk-aversion used, qualifies them to be regarded as absolute scales for the utility of money. Evidence of validation for the concept will be offered based on inferential measurements of risk-aversion, using diverse measurement data.
Capital spending by oil and gas companies in and outside the US will rise in 1998, but that forecast may be jeopardized by the continuing plunge in oil prices. For operations in the US, oil and gas company capital spending is expected to move up in 1998 for the fourth year in a row. If the money is spent, it will be the highest industry investment level since 1985. Strong oil and gas prices and increased volumes have boosted company cash flow and profits the last few years, fueling increased spending. However, the near-term outlook has now been clouded by economic turmoil in a number of Asian countries and the recent collapse of oil prices. The paper discusses oil and gas prices, US upstream spending, US non-exploration and production spending, capital spending in Canada, and spending outside US and Canada
Rowe, Michael; Serowik, Kristin L; Ablondi, Karen; Wilber, Charles; Rosen, Marc I
Social recovery and external money management are important approaches in contemporary mental health care, but little research has been done on the relationship between the two or on application of recovery principles to money management for people at risk of being assigned a representative payee or conservator. Out of 49 total qualitative interviews, 25 transcripts with persons receiving Social Security insurance or Social Security disability insurance who were at risk of being assigned a money manager were analyzed to assess the presence of recognized recovery themes. The recovery principles of self-direction and responsibility were strong themes in participant comments related to money management. Money management interventions should incorporate peoples' recovery-related motivations to acquire financial management skills as a means to direct and assume responsibility for one's finances. Staff involved in money management should receive training to support client's recovery-related goals. (PsycINFO Database Record (c) 2013 APA, all rights reserved).
Alfonso, Y Natalia; Ding, Guiru; Bishai, David
Using cross-country data on gross domestic product and national expenditure on vaccines, we estimate and compare the income elasticity of vaccine expenditure and general curative healthcare expenditure. This study provides the first evidence on the national income elasticity of vaccination spending. Both fixed and random effects models are applied to data from 84 countries from 2010 to 2011. The income elasticities for healthcare expenditure and vaccine expenditure are 0.844 and 0.336, respectively. Despite vaccines' high cost-effectiveness, the national propensity to spend income on vaccines as income increases lags behind general health care. The low income elasticity of vaccine spending means that relying on economic growth alone will provide an unacceptably slow trajectory to achieving high vaccine coverage levels. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.
The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with exist-ing forms of money. This paper evaluates three different scenarios for the imple-mentation of CBDC in terms of their monetary policy...... simultaneously only pursue two out of the following three policy objectives: Free convertibility between CBDC and bank money, parity between CBDC and bank money, and central bank monetary sovereignty, which is the use of monetary policy for anything else than support for commercial bank credit creation...
Faure, Salomon; Gersbach, Hans
We study money creation and destruction in today’s monetary architecture and examine the impact of monetary policy and capital regulation in a general equilibrium setting. There are two types of money created and destructed: bank deposits, when banks grant loans to firms or to other banks and central bank money, when the central bank grants loans to private banks. We show that equilibria yield the first-best level of money creation and lending when prices are flexible, regardless of the monet...
Teles, Caio Augusto Colnago
This pap er analyzes the distribution of money holdings in a commo dity money search-based mo del with intermediation. Intro ducing heterogeneity of costs to the Kiyotaki e Wright ( 1989 ) mo del, Cavalcanti e Puzzello ( 2010) gives rise to a non-degenerated distribution of money. We extend further this mo del intro ducing intermediation in the trading pro cess. We show that the distribution of money matters for savings decisions. This gives rises to a xed p oint problem for the ...
Full Text Available The purpose of this article is to analyze the influence of the money design on willingness to make purchases. In this paper, we focus on three aspects that structure the relation between money and design: the link between design and finance (in general, determinants of design and perspective of currency design. The main research problem explored in this paper is: Does the money design have influence on the willingness to make purchases by employees/employers at design studios, design students and students of economics/management? The main hypothesis is as follows – the more experience in design practice, the more important is money design.
Maria Pia Paganelli
David Hume’s monetary theory has three standard yet inconsistent readings. As a forefather of the quantity theory of money, Hume sees money as neutral. As an inflationist, Hume sees an active positive role for monetary policy. As a monetarist, Hume sees an active positive role for monetary policy only in the short run. This paper reads Hume consistently instead by showing that for Hume money is endogenous and demand-driven. Hume would read the money equation in terms of reverse causation and ...
Khieu Van, Hoang
This study empirically examines the nexus among budget deficit, money supply and inflation by using a monthly data set from January 1995 to December 2012 and a SVAR model with five endogenous variables, inflation, money growth, budget deficit growth, real GDP growth and interest rate. Since real GDP and budget deficit are unavailable on the monthly basis, we interpolate those series using Chow and Lin’s (1971) annualized approach from their annual series. Overall, we found that money growth h...
Niño Philip L. Perculeza
Full Text Available Money, through the years, has been a commodity for everyone. As it is termed in international trade parlance, it is considered to be “sine qua non” or without which, nothing could be done. This study aimed to determine the current status of the spending practices of the teaching personnel in Lyceum of the Philippines University – Batangas; specifically, their profile, spending behavior and their encountered problems related to the forgoing matter. This study is descriptive in nature. It was participated by 161 teaching personnel of LPU-Batangas computed and selected through the G* power series with an effective size of 40 percent and power size of 95 percent. It made use of an adopted and modified questionnaire as its primary data gathering instrument which has three parts. The needed data were encoded, tallied and interpreted using different statistical tools such as frequency distribution, ranking, weighted mean and F-Test; and were further analyzed and interpreted through PASW version 19 using 0.05 alpha levels. From the results, it was concluded that the respondents had an often type of spending on the Basic Necessity. Moreover, overspending is the problem that was most encountered by the respondents. Various recommendations were posted by the researchers including a proposed plan of action that could help improve the spending behavior of the faculty members of LPU Batangas.
Jerald A Schiff; Benedict J. Clements; Sanjeev Gupta
The decline in military spending that began in the mid-1980s continued through 1995, and this decline was widespread both geographically and by level of development. Cuts in military spending appear to have potentially important implications for nonmilitary spending and fiscal adjustment. In contrast to findings for previous periods, military spending has declined more than proportionately in those countries that have reduced total spending. Countries with Fund programs have reduced military ...
Egger, Peter; Köthenbürger, Marko
This paper presents empirical evidence of a positive effect of council size on government spending using a data set of 2,056 municipalities in the German state of Bavaria over a period of 21 years. We apply a regression discontinuity design to avoid an endogeneity bias. In particular, we exploit ...
Egger, Peter; Köthenbürger, Marko
This paper presents empirical evidence of a positive effect of council size on government spending using a dataset of 2,056 municipalities in the German state of Bavaria over a period of 21 years. We apply a regression discontinuity design to avoid an endogeneity bias. In particular, we exploit d...
De Grasse, Robert; Murphy, Paul
Evaluates President Reagan's proposed military buildup in light of the cuts such expenditures would necessitate in approximately 300 domestic programs. Suggests that the dramatic proposed increase in military spending risks higher inflation and slower economic growth. Concludes with a plea for rethinking of Reagan's dramatic shift in national…
Farmer, Lesley; Shontz, Marilyn
This year's "School Library Journal's" spending survey showed that, despite the recession, the vast majority of media centers around the country have retained their credentialed media specialists. For example, almost 85% of elementary schools and more than 95% of middle and high schools have a full-time certified librarian. In addition, salaries…
Antal, Miklós; Bergh, Jeroen C.J.M. van den
It is well-known that energy conservation can lead to rebound effects that partly offset the original energy savings. One particular rebound mechanism is re-spending of money savings associated with energy savings on energy intensive goods or services. We calculate the average magnitude of this “re-spending rebound” for different fuels and countries, and for both energy and carbon (CO 2 ) emissions. We find that emerging economies, neglected in past studies, typically have larger rebounds than OECD countries. Since such economies play an increasingly important role in the global economy the re-spending rebound is a growing concern. The re-spending effect is generally larger for gasoline than for natural gas and electricity. Paradoxically, stronger financial incentives to conserve energy tend to increase the rebound. This suggests that with climate regulation and peak oil the re-spending rebound may become more important. We discuss the policy implications of our findings. - highlights: • Energy and carbon rebound due to re-spending of money savings is analyzed. • The average magnitude of this rebound is calculated for several countries. • Emerging economies typically have substantially larger rebounds than OECD countries. • The effect is generally stronger for gasoline than for natural gas and electricity. • Policy conclusions are drawn
istence of thresholds (a.k.a., critical prices) (for every set). The result in Theorem 3.4 relates to the characterization of truthful CAs with money and no...with money and no verification, each bidder optimizes her valu- ation minus the critical price over all her demanded sets; in the setting without money...auctions. ICALP, pp. 90-101, 2010.  P. Briest, P. Krysta, and B. Vöcking. Approximation techniques for utilitarian mechanism design. STOC, pp. 39-48
This paper studies the problem of monitoring the monitor in a model of money and banking with aggregate uncertainty. It shows that when inside money is required as a means of bank loan repayment, a market of inside money is entailed at the repayment stage and generates information-revealing prices that perfectly discipline the bank. The incentive problem of a bank is costlessly overcome simply by involving inside money in repayment. Inside money distinguishes itself from outside money by its ...
Previously, I studied [Physica D 82, 180-194 (1995)] the emergence and collapse of money in a computer simulation model. In this paper I will revisit the same topic, building a model in the same line. I discuss this problem from the viewpoint of chaotic itinerancy. Money is the most popular system for evading the difficulty of exchange under division of labor. It emerges autonomously from exchanges among selfish agents which behave as automata. And such emergent money collapses autonomously. I describe money as a structure in economic space, explaining its autonomous emergence and collapse as two phases of the same phenomenon. The key element in this phenomenon is the switch of the meaning of strategies. This is caused by the drastic change of environment caused by the emergence of a structure. This dynamics shares some aspects with chaotic itinerancy.
Gino, Francesca; Mogilner, Cassie
Money, a resource that absorbs much daily attention, seems to be involved in much unethical behavior, which suggests that money itself may corrupt. This research examined a way to offset such potentially deleterious effects-by focusing on time, a resource that tends to receive less attention than money but is equally ubiquitous in daily life. Across four experiments, we examined whether shifting focus onto time can salvage individuals' ethicality. We found that implicitly activating the construct of time, rather than money, leads individuals to behave more ethically by cheating less. We further found that priming time reduces cheating by making people reflect on who they are. Implications for the use of time primes in discouraging dishonesty are discussed.
Martin, Michael F; Morrison, Wayne M
.... The recent large inflow of financial capital into China, commonly referred to as "hot money," has led some economists to warn that such flows may have a destabilizing effect on China's economy...
Wray, L. Randall
This paper argues that the usual framing of discussions of money, monetary policy, and fiscal policy plays into the hands of conservatives. That framing is also largely consistent with the conventional view of the economy and of society more generally. To put it the way that economists usually do, money "lubricates" the market mechanism-a good thing, because the conventional view of the market itself is overwhelmingly positive. Acknowledging the work of George Lakoff, this paper takes the pos...
Virtually all financial innovation in the U.S. money market during the past 20 years has centered on interest rate derivatives, including futures and swaps. Furthermore, money market futures--especially futures contracts on Eurodollar time deposits--have been at the vanguard of the recent explosion of trading activity in interest rate derivatives. While futures markets traditionally have been viewed as markets for the transfer of price risk, recent research shows that they may serve other imp...
The source of money has been shown to be important for how money is spent. In addition, sudden wealth is often associated with social and psychological risks. This article investigates if conceptions of lottery prize money--as a special kind of money--imply restrictions on how it can be spent. Analysis of interviews with lottery winners shows that interviewees use earmarking of the prize money as a strategy for avoiding the pitfalls associated with a lottery win. Conceptions of lottery prize money as 'a lot' or as 'a little', as shared or personal, and as an opportunity or a risk, influences the ends for which it is earmarked: for self-serving spending, a 'normal' living standard, paying off loans, saving for designated purposes, or for economic security and independence. Clearly defining and earmarking lottery prize money thus helps lottery winners construe their sudden wealth, not as a risk, but as 'pennies from heaven.' © London School of Economics and Political Science 2014.
Full Text Available This article investigates inequality in parental spending on young children over the period from 1972 to 2010. I find increased spending among parents at the top of the income distribution but little change among parents at the bottom of the income distribution. The gap in spending is equally attributable to increased spending on center-based care for preschool-age children and spending on enrichment goods and activities. The article examines potential causes of increased spending, including income, parental education, and wife’s work status, using decomposition analysis. Results indicate that higher incomes are the largest cause of the increased gap in spending but that increases in wife’s earnings, college completion, and wife’s work hours are also important for growth in spending.
Calomiris, Charles W; Domowitz, Ian
Various domestic financial assets in Brazil have provided relatively liquid nonmonetary alternatives. Monthly money demand estimates, which include domestic asset opportunity costs and take account of T-bill repurchase agreements in a dynamic error-correction model, demonstrate the importance of domestic substitutes in explaining money holdings. Money demand appears responsive and stable. Moreover, T-bills and indexed bonds have acted as an alternative to central bank liabilities as a source ...
Seitz, Michael; Tarasov, Alexander; Zakharenko, Roman
This paper develops a quantitative model of trade, military conflicts, and defense spending. Trade liberalization between two countries reduces probability of an armed conflict between them, causing both to cut defense spending. This in turn causes a domino effect on defense spending by other countries. As a result, both countries and the rest of the world are better off. We estimate the model using data on trade, conflicts, and military spending. We find that, after reduction of costs of tra...
In this paper, the author deals with: (1) Definition of government; incentive structure under government: taxation, war and territorial expansion. (2) Origin of money; government and money; the devolution of money from commodity to fiat money. (3) International politics and monetary regimes; monetary imperialism and the drive toward a one-world central bank and fiat currency.
The paper relaxes the one unit storage capacity imposed in the basic search-theoretic model of fiat money with indivisible real commodities and indivisible money. Agents can accumulate as much money as they want. It characterizes the stationary distributions of money and shows that for reasonable parameter values (e.g. production cost, discounting, degree of specialization) a monetary equilibrium exists. There are multiple stationary distributions of a given amount of money, which differ in t...
Cook, Timothy Q., Ed.
This booklet is a compilation of articles on money market instruments which were published in the "Monthly Review" of the Federal Reserve Bank of Richmond from 1964-1967. They have been revised to include recent changes in the various markets, as well as to reflect currently applicable laws and regulations. The articles are titled: The Money…
Fiat money is a creation of both the state and society. Its value is supported by expectations which are conditioned by the dynamics of trust in government, the socio-economic structure and by outside events such as wars, plagues or political unrest. The micro-management of a dynamic economy is not far removed in difficulty from the micro-management of the weather. However, money and the financial institutions and instruments of a modern economy provide the means to influence expectations and...
Full Text Available This paper investigates the nexus between economic growth and defense spending for three adjacent countries, namely Greece, Turkey and Cyprus. Greece and Cyprus, members-countries of European Union spend much more money than other member countries of EU relatively to their GDP. Turkey is in accession negotiations with EU and is among the top 15 countries with the highest military expenditure. These three countries are particularly interesting case studies because of their high military burdens and the bad relations between them (Greece and Cyprus opposite Turkey. The empirical analysis is based on panel data analysis of data over the period 1960 – 2006.
Batikas, Michail; Claussen, Jörg; Peukert, Christian
Online copyright enforcement, in the form of either direct action against the supply- side (via website shutdowns) or the demand-side (via individual lawsuits against users), has not been very effective in reducing piracy. Regulators have therefore put forward the so called “follow the money...
Fehr, Ernst; Tyran, Jean-Robert
Economists long considered money illusion to be largely irrelevant. Here we show, however, that money illusion has powerful effects on equilibrium selection. If we represent payoffs in nominal terms, choices converge to the Pareto inferior equilibrium; however, if we lift the veil of money...... by representing payoffs in real terms, the Pareto efficient equilibrium is selected. We also show that strategic uncertainty about the other players' behavior is key for the equilibrium selection effects of money illusion: even though money illusion vanishes over time if subjects are given learning opportunities...... in the context of an individual optimization problem, powerful and persistent effects of money illusion are found when strategic uncertainty prevails...
Afonso, António; Schuknecht, Ludger; Tanzi, Vito
In this paper we examine the impact of public spending, education, and institutions on income distribution in advanced economies. We also assess the efficiency of public spending in redistributing income by using a DEA (Data Envelopment Analysis) nonparametric approach. We find that public policies significantly affect income distribution, notably via social spending, and indirectly via high quality education/human capital and via sound economic institutions. Moreover, for our set of OECD cou...
Levintal, Oren; Zeira, Joseph
This paper tells the story of how paper money evolved as a result of lending by banks. While lending commodity money requires holding large reserves of commodity money to ensure liquidity, issuing convertible paper money reduces these costs significantly. The paper also examines the possibility of issuing inconvertible notes and shows that while they further reduce the cost of borrowing they also have adverse effects on the stability of the banking system. As a result, governments often inter...
Alberto E. Chong; Florencio López-de-Silanes
The recent wave of terrorist attacks has increased the attention paid to money laundering activities. Using several methodologies, this paper investigates empirically the determinants of money laundering and its regulation in over 80 countries by assembling a cross-country dataset on proxies for money laundering and the prevalence of feeding activities. The paper additionally constructs specific money laundering regulation indices based on available information on laws and their mechanisms of...
Social entrepreneurship is popular in current academics and other media. This thesis adds to this literature by discovering what the drivers are for sustainable social entrepreneurship. Several stakeholders were identified, creating profiles of the key players in social entrepreneurship. These stakeholders uncovered key factors that represent the drivers for sustainable social entrepreneurship. Key factors were then aligned along the two dimensions: Money and Mission. This crea...
Selahattin Togay; Nezir Kose
In this study, the endogenous money hypothesis is examined for the Argentinean economy employing exogeneity tests by using monthly data for the time period 1991-2001 within the frame of money and price relationship in a Currency Board-like system. Empirical results support the hypothesis which suggests that money supply is endogenous.
Reed, Sherrie; Rose, Heather
Examining resource allocation practices, including savings, of charter schools is critical to understanding their financial viability and sustainability. Using 9 years of finance data from California, we find charter schools spend less on instruction and pupil support services than traditional public schools. The lower spending on instruction and…
Delaney, Jennifer A.; Doyle, William R.
This paper explores the role that state spending on higher education capital outlays plays in state budgets by considering the functional form of the relationship between state spending on higher education capital outlays and four types of state expenditures. Three possible functional forms are tested: a linear model, a quadratic model, and the…
H.P. van Dalen (Hendrik); O.H. Swank (Otto)
textabstractands. The time series analysis, covering the period 1953–1993, allows for different types of government spending. In general, spending is inspired by ideological and opportunistic motives: all government expenditure categories show an upward drift during election times and the partisan
Kenney, Catherine T.
Although developing-country research has found that spending on children varies depending on which parent controls income, developed-country research tends to ignore intrahousehold allocation. This study uses Fragile Families and Child Wellbeing Study data (N = 1,073 couples) to analyze how mothers versus fathers controlling money affects U.S.…
Oliveira-Castro, Jorge M.; Foxall, Gordon R.; Wells, Victoria K.
Previous applications of the matching law to the analysis of consumer brand choice have shown that the amount of money spent purchasing a favorite brand tends to match the quantity bought of the favorite brand divided by the quantity bought of all other brands. Although these results suggest matching between spending and purchased quantity,…
N. Schenk (Niels); P.A. Dykstra (Pearl); I. Maas (Ineke)
textabstractABSTRACT This article uses a comprehensive theoretical framework to explain why parents send money to particular children, and examines whether intergenerational solidarity is shaped by spending on various welfare domains or provisions as a percentage of gross domestic product. The
This fringe benefit plan saves money for both employers and employees, provides a better fit for employees' actual benefit needs, and allows employees to choose options from a menu of benefits. One option is a flexible spending plan. Employees place a portion of their before-tax income into a special account from which allowable expenses are paid…
This paper explores general equilibrium consumption choices and interest rate determination in a deterministic two-period model in which the production side explicitly describes the thermodynamic process unavoidably connected with production, as argued by Georgescu Roegen. A simple energy based production process is modeled, which is not in a stationary state. The resulting production function is time dependent. In neoclassical general equilibrium the thermodynamic implication of the production process, i.e., the production of waste, will not be taken into account by decision making agents. For welfare optimality, the resulting externality needs to be corrected by a social planner, or through the use of environmental related taxation. However, it is shown that imposing energy as a medium of exchange (money) in the same economy makes agents 'energy conscious' and decreases the externality associated with entropic waste through a market mechanism, without the need for intervention. In the limit case in which production occurs in thermodynamic equilibrium, no entropic waste is produced, and the model collapses to the nested neoclassical model. A contribution of the proposed approach is the determination of energy (money) prices in general equilibrium. Despite the fact that energy does not enter the agents' utility function, and therefore has no direct value, money prices and interest rate can be fully characterized in the model due precisely to the production technology adopted. In this competitive equilibrium the market interest rate will be greater than the real interest rate. The change in the numeraire and medium of exchange used affects the economy due to the non stationarity of the production process, but has no effect in the limit case in which the productive process reaches a steady state. (author)
Competing claims are made about the amount of money that pharmaceutical companies spend on research and development (R&D) versus promotion. This study investigates this question in the Canadian context. Two methods for determining industry-wide figures for spending on promotion were employed. First, total industry spending on detailing and journal advertising for 2013-2016 was abstracted from reports from QuintilesIMS. Second, the mean total promotion spending for the years 2002-2005 was used to estimate total spending for 2013-2016. Total industry spending on R&D came from the Patented Medicine Prices Review Board (PMPRB). R&D to promotion spending using each method of determining the amount spent on promotion was compared for 2013-2016 inclusive. Data on the 50 top promoted drugs, the amounts spent, the companies marketing these products and their overall sales were abstracted from the QuintilesIMS reports. Spending on R&D and promotion as a percent of sales was compared for these companies. Industry wide, the ratio of R&D to promotion spending went from 1.43 to 2.18 when promotion was defined as the amount spent on detailing and journal advertising for the 50 most promoted drugs. Calculating total promotion spending from the mean of the 2002-2005 figures the ratio was 0.88 to 1.32 for the 50 most promoted drugs. For individual companies marketing one or more of the 50 most promoted drugs, mean R&D spending ranged from 3.7% of sales to 4.1% compared to mean promotion spending that went from 1.7 to 1.9%. The ratio of spending on R&D to promotion varied from 2.11 to 2.32. Eight to 10 companies per year spent more on promotion than on R&D. Depending on the method used to determine promotion spending, industry-wide the ratio of R&D spending to promotion ranges from 1.45 to 2.18 (sales representatives and journal advertising only) or from 0.88 to 1.32 (total promotion spending estimated based 2003-2005 data.) For the individual companies promoting one or more of the
Tracing life stories and family histories back to rural Punjab, I explore the development and processes of upward social mobility of the Pakistani community in Denmark from the 1960s onwards. I suggest that social mobility among Pakistani immigrants and their descendants must be seen as the outcome...... of the Danish labour market during the late 1970s and 1980s pushed them into two different long-term strategies of money or education respectively. This created a split in the Pakistani community between educated and non-educated families and shaped the second generation’s way of life in terms of, for example...
No abstract available. Article truncated at 150 words. Many years ago there was a Federal whistleblower, Deep Throat, who leaked confidential Government information about the Nixon White House to reporters from the Washington Post. Fans of the book and movie will remember that his famous line was, “Follow the money.” That line came to mind when an article appeared in Health Affairs summarizing the US health care expenditures for 2010 (1). The main gist of the article is that the rate of growt...
Hartman, Micah; Martin, Anne B; Espinosa, Nathan; Catlin, Aaron; The National Health Expenditure Accounts Team
Total nominal US health care spending increased 4.3 percent and reached $3.3 trillion in 2016. Per capita spending on health care increased by $354, reaching $10,348. The share of gross domestic product devoted to health care spending was 17.9 percent in 2016, up from 17.7 percent in 2015. Health spending growth decelerated in 2016 following faster growth in 2014 and 2015 associated with coverage expansions under the Affordable Care Act (ACA) and strong retail prescription drug spending growth. In 2016 the slowdown was broadly based, as spending for the largest categories by payer and by service decelerated. Enrollment trends drove the slowdown in Medicaid and private health insurance spending growth in 2016, while slower per enrollee spending growth influenced Medicare spending. Furthermore, spending for retail prescription drugs slowed, partly as a result of lower spending for drugs used to treat hepatitis C, while slower use and intensity of services drove the slowdown in hospital care and physician and clinical services.
McClanahan, T R; Rankin, P S
We used linear and multivariate models to examine the associations between geography, biodiversity, per capita economic output, national spending on conservation, governance, and cultural traits in 55 countries. Cultural traits and social metrics of modernization correlated positively with national spending on conservation. The global distribution of this spending culture was poorly aligned with the distribution of biodiversity. Specifically, biodiversity was greater in the tropics where cultures tended to spend relatively less on conservation and tended to have higher collectivism, formalized and hierarchical leadership, and weaker governance. Consequently, nations lacking social traits frequently associated with modernization, environmentalism, and conservation spending have the largest component of Earth's biodiversity. This has significant implications for setting policies and priorities for resource management given that biological diversity is rapidly disappearing and cultural traits change slowly. Therefore, we suggest natural resource management adapt to and use characteristics of existing social organization rather than wait for or promote social values associated with conservation spending. Supporting biocultural traditions, engaging leaders to increase conservation commitments, cross-national efforts that complement attributes of cultures, and avoiding interference with nature may work best to conserve nature in collective and hierarchical societies. Spending in modernized nations may be a symbolic response to a symptom of economic development and environmental degradation, and here conservation actions need to ensure that biodiversity is not being lost. © 2016 Society for Conservation Biology.
The research used to bolster former U.S. Secretary of Education William Bennett's contention that spending does not affect student achievement was a 1986 article by Eric Hanushek. A reanalysis of Hanushek's data contradicts Bennett's claim. Because of the attenuation problem, the spending-achievement correlation is even stronger than the…
Pollin, Robert; Garrett-Peltier, Heidi
This study focuses on the employment effects of military spending versus alternative domestic spending priorities. The authors begin by introducing the basic input-output modeling technique for considering issues such as these in a systematic way. They then present some simple alternative spending scenarios-namely, devoting $1 billion to the military versus the same amount of money spent for five alternatives: tax cuts that produce increased levels of personal consumption; health care; education; mass transit; and construction targeted at home weatherization and infrastructure repair. The first conclusion in assessing such relative employment effects is straightforward: $1 billion spent on personal consumption, health care, education, mass transit, and construction for home weatherization/infrastructure will all create more jobs in the U.S. economy than would the same $1 billion spent on the military. The authors then examine the pay level of jobs created through these alternative spending priorities and assess the overall welfare effects of the alternative employment outcomes. Combining these alternative domestic spending categories in an effective way can also generate a higher level of compensation for working people in the United States and a better average quality ofjobs.
Welfare ranking of policy instruments is addressed in a two-sector Ramsey model with monopoly pricing in one sector as the only distortion. When government spending is restricted, i.e. when a government is unable or unwilling to finance the required costs for implementing the optimum policy...... effectiveness canexceed the welfare loss from introducing new distortions. Moreover, it is found that the investment subsidy is gradually phased out of the welfare maximizing policy, which may be a policy combining the two subsidies, when the level of government spending is increased.Keywords: welfare ranking......, indirect and direct policy instruments, restricted government spending JEL: E61, O21, O41...
Yougui Wang; Ning Ding; Ning Xi
Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of individual agents, a pile of money and a specific trading rule. Whatever the trading rule is, the most noteworthy fact is that money is always transferred from one agent to another in the transferring process. So we call them money transfer models. Besides e...
In this paper I consider a monetary growth model in which banks provide liquidity, and the government fixes a constant rate of money creation. There are two underlying assets in the economy, money and capital. Money is dominated in rate of return. In contrast to other papers with a larger set of government liabilities, I find a unique equilibrium when agents' risk aversion is moderate. However, indeterminacies and endogenous volatility can be observed when agents are relatively risk averse.
Gavinsky, Dmitry [NEC Laboratories America, Princeton, NJ (United States)
We propose and construct a quantum money scheme that allows verification through classical communication with a bank. This is the first demonstration that a secure quantum money scheme exists that does not require quantum communication for coin verification. Our scheme is secure against adaptive adversaries - this property is not directly related to the possibility of classical verification, nevertheless none of the earlier quantum money constructions is known to possess it.
We propose and construct a quantum money scheme that allows verification through classical communication with a bank. This is the first demonstration that a secure quantum money scheme exists that does not require quantum communication for coin verification. Our scheme is secure against adaptive adversaries - this property is not directly related to the possibility of classical verification, nevertheless none of the earlier quantum money constructions is known to possess it
... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for... Laundering Programs Anti-Money Laundering Programs § 103.125 Anti-money laundering programs for money..., and maintain an effective anti-money laundering program. An effective anti-money laundering program is...
Musgrave, Ralph S.
The majority of the money supply is issued by private banks, not central banks. However a system that restricts money creation to central banks has been advocated for many years by leading economists. There is no reason interest rates would not be at some sort of genuine free market rate under the latter system. In contrast, when private bank money is allowed, those banks undercut the free market rate of interest because it costs them nothing to come by the money they lend out: they effective...
Full Text Available In the activity of the modern economy, the availability of money as a means of transaction is very important, because with the money as a means to pay consumers can easily to get the basic material needs are required, the manufacturer can provide the raw materials of labor for production, and distributors can obtain a variety of merchandise to be delivered at the end consumer. The pattern of use of money is influenced by the attitude of the public in the transaction. Researchers assume, that there are differences among communities, either by group differences in income, educational differences, ethnic differences, differences in profession, and perhaps even religious differences embraced. So as to provide information to the monetary authorities, to enrich the theory of demand for money based economic agents in Indonesia, and for the application of the theory of demand for money, the researchers felt the need to study patterns of use of money. Qualitative research, in addition to knowing whether the variables that affect the demand for money as the above theory is still relevant for economic actors in Indonesia at this time, or even are new variables, as well as the motive of money demand. Keywords: Demand for money, Keynes Theory, qualitative method
DeLeire, Thomas; Kalil, Ariel
Cohabitation is an increasingly prevalent living arrangement in the United States. Although the effects of living in a cohabiting arrangement on child wellbeing are not fully understood, the literature on children growing up in cohabiting families suggests that they have poorer developmental outcomes than do those growing up in married-parent…
Hyde, Sandra Teresa
In this article, I explore a Chinese residential therapeutic community I call Sunlight in order to understand its quotidian therapies, its fraught nature binding China's past with its future, and the to care for the self under postsocialism. Reviewing Sunlight ethnographically allows for broader theoretical exploration into how China's economic transition created tensions between capitalism, socialism, and communism; between individual and community, care and coercion, and discipline and freedom. Sunlight blended democratic, communal, and communist values that in several ways transition drug addicts into a market-socialist society. In focusing on the socialist transition to capitalism much work concentrates on the neoliberal transition as the only path out of communism rather than exploring its exceptions. In exploring China as an exception, I ask: What do the residents, peer-educators and administrators reveal in their stories and reactions to community-based therapeutics of care and what happens when their notions of care clash?
Raphael T Mpofu
Full Text Available The study looked at the relationship between GDP per capita and health expenditure per capita as well as that of GDP per capita and education expenditure per capita in South Africa between 1994 and 2012. Adolph Wagner’s “Law” proposes that a state will increase its government expenditure relatively to the national income (Henrekson, 1993. Any change in the amount of health expenditure will influence the per capita health expenditure in a country. In this study, using the Human Development Index (HDI as the yardstick for Quality of Life (QoL, the concepts of Standard of Living (SoL and per capita income were examined closely in relation to the role of government in its public expenditure programmes and how these programmes in turn influenced QoL. In particular, the role of government expenditure on health and education seems to signify the commitment of a government in improving the HDI or QoL. Using data on government expenditure in South, the relationships amongst these variables were examined. Since Quality of Life is related to health expenditure per capita, then QoL too should change as government health expenditure increases. The same is expected of an increase in education expenditure. From the study results, it is clear that total tax revenue has increased sharply since 2000 and at a much faster rate than its contribution to GDP but the government deficit has also burgeoned in tandem with government revenue collection as if in tango. The reality is that government expenditure has increased sharply since 1993 but has this been directed at QoL? Public service protests tell a different story. The departments of Cooperative Governance and Traditional Affairs and the Police seem to be receiving the largest revenue votes, raising the question of whether there is real value added and whether this expenditure is warrantied in terms of SoL.
Full Text Available Charitable foundations are a critical part of public services. However, there is a large gap between the locations and expenditures of charitable foundations and the real population needs for most nations. Three types of Chinese local charity foundations, i.e., those for poverty, education and medical assistance, are used as examples to explore the distinct gaps. The spatial distributions of local charity foundations are characterized by spatial scan statistics and spatial autocorrelation models. The local population needs of charitable assistance for poverty, education and medical services are quantified with their respective weighted proxy indexes of the current conditions. Thus, the nonlinear relationships between population needs and the expenditures of local charitable foundations are described with generalized additive models. The results show that both the participation rate and the charity expenditures of the foundations are highly clustered within a few cities where the population needs are relatively small and are furthermore rare among the other cities. The charity expenditures of local foundations are nonlinearly correlated with the current conditions of socioeconomic development, education and medical levels due to the diverse development stages of the cities. This study provides quantitative evidence for local authorities and charitable foundations to make targeted and constructive decisions to gradually reduce the distinct gaps.
Examined whether Michigan's elementary charter schools' expenditures differ from those of comparable-enrollment local districts. During 1995-96, charters spent an average of 57 percent of revenues on instruction and about 43 percent on support services, compared to 65 and 35 percent for comparable districts. Charters' administrative expenditures…
Weatherly, Jeffrey N.; Derenne, Adam; Terrell, Heather K.
Evidence in the research literature indicates people may treat "won" money differently than they would their own money. The present study had a sample of 648 college students complete a delay-discounting task that involved the hypothetical monetary amounts of $1,000 or $100,000. Participants were asked repeatedly what amount they would…
U.S. Department of Health & Human Services — The Geographic Variation Dashboards present Medicare fee-for-service per-capita spending at the state and county level in an interactive format. We calculated the...
Money laundering has been studied for many years, but mainly by lawyers and criminologists. This dissertation presents a number of ways on how an economist – mainly in a multidisciplinary fashion – can contribute to this field of research. This dissertation answers four important questions about money laundering: Why should we fight money laundering? How is money laundered? In which sectors is money laundered? And how can we fight money laundering? The literature mentions 25 effects of money ...
Ig. Sigit Murwito; Boedi Rheza; Sri Mulyati; Elizabeth Karlinda; Ratnawati Muyanto
We study on how a larger local government budget on infrastructure does not reflect into good quality of road in forty-one district/city across Indonesia given the fact of low infrastructure quality and low government spending on infrastructure. This study excels its preceded studies done by Tanzi and Davoodi (1997) at country level. The methodology used is a combination of quantitative and qualitative approach since our main research query is to seek facts on why a larger government spending...
Abu-Qarn, A. S.; Dunne, J. P.; Abdelfattah, Y.; Zaher, S.
Egypt plays a pivotal role in the security of the Middle East as the doorway to Europe and its military expenditure reflects its involvement in the machinations of such an unstable region, showing considerable variation over the last forty years. These characteristics make it a particularly interesting case study of the determinants of military spending. This paper specifies and estimates an econometric model of the Egyptian demand for military spending, taking into account important strategi...
Full Text Available Abstract This study considers three questions: 1. What are the Canadian public’s prioritization preferences for new government spending on a range of public health-related goods outside the scope of the country’s national system of health insurance? 2. How homogenous or heterogeneous is the Canadian public in terms of these preferences? 3. What factors are predictive of the Canadian public’s preferences for new government spending? Data were collected in 2008 from a national random sample of Canadian adults through a telephone interview survey (n =1,005. Respondents were asked to rank five spending priorities in terms of their preference for new government spending. Bivariate and multivariable logistic regression analyses were conducted. As a first priority, Canadian adults prefer spending on child care (26.2%, followed by pharmacare (23.1%, dental care (20.8%, home care (17.2%, and vision care (12.7%. Sociodemographic characteristics predict spending preferences, based on the social position and needs of respondents. Policy leaders need to give fair consideration to public preferences in priority setting approaches in order to ensure that public health-related goods are distributed in a manner that best suits population needs.
Lassman, David; Sisko, Andrea M; Catlin, Aaron; Barron, Mary Carol; Benson, Joseph; Cuckler, Gigi A; Hartman, Micah; Martin, Anne B; Whittle, Lekha
As the US health sector evolves and changes, it is informative to estimate and analyze health spending trends at the state level. These estimates, which provide information about consumption of health care by residents of a state, serve as a baseline for state and national-level policy discussions. This study examines per capita health spending by state of residence and per enrollee spending for the three largest payers (Medicare, Medicaid, and private health insurance) through 2014. Moreover, it discusses in detail the impacts of the Affordable Care Act implementation and the most recent economic recession and recovery on health spending at the state level. According to this analysis, these factors affected overall annual growth in state health spending and the payers and programs that paid for that care. They did not, however, substantially change state rankings based on per capita spending levels over the period. Project HOPE—The People-to-People Health Foundation, Inc.
Full Text Available Expansionary fiscal policy is mired in controversy. Its proponents suggest that during recession, it stimulates investors’ activity and has a stabilizing effect on economic growth. However, its opponents point to the costs associated with the budget deficit and public debt handling. Increased public spending may result in an increase in the interest rates, which may, in turn, hinder private investment and weaken the multiplier effect of public spending. The following study examines how private spending and market interest rates reacted to changes in public spending in Poland. The study has shown that public spending stimulates private spending, which is consistent with the Keynesian model, but it also leads to an increase in market interest rates, which is consistent with the neoclassical model.
This paper discusses the structure of the new mobile money ecosystem and the roles of its key players. Mobile money is an evolving sector both in volume and in economic impact especially in the developing world. The paper is an exploratory study that investigates the structure of the ecosystem, p...
Bijleveld, E.H.; Aarts, H.A.G.
The Psychological Science of Money brings together classic and current findings on the myriad ways money affects brain, mind, and behavior to satisfy not only our needs for material gain, but also for autonomy and self-worth. Leading experts trace the links between early concepts of value and modern
Bijleveld, E.H.; Aarts, H.A.G.; Bijleveld, E.H.; Aarts, H.A.G.
A thriving field of inquiry, the psychological science of money has recently witnessed an upsurge in research attention. In the present volume, we bring together and integrate a number of theoretical perspectives on the question of ‘how does money affect people’s mind, brain, and behavior?’
Full Text Available Considered as an axiomatic basis of classical, neoclassical, and monetarist theories, the long-run money neutrality assumption does not always seem to be verified. Indeed, in our view, the money, in the sense of M2, can constitute a long-run channel of growth transmission. Thus, this paper examines the long-term relationship among money supply (M2, income (GDP, and prices (CPI. The subprime crisis in 2007 has shown that the demand for money does not only meet motives of transaction, precaution, and speculation but also of fictional or quasi-fictional future demands due to the fact that they are created without real counterparts. The capacity of production systems in developed countries to respond to increases in money supply by creating more wealth, involves the assumption of money neutrality in the long-run. However, in developing countries, the excess of money supply may lead to inflation trends. The present study has confirmed the long-term non-neutrality of money supply in the USA, and its neutrality in Gabon and Morocco.
There remains a long-standing argument regarding the need for money management strategies to control poor spending habits among people with substance use disorders. The objective was to review issues relevant to the design and implementation of money-management-based interventions for substance abuse. Using a comparative, cross-cultural framework of anthropology, this manuscript examines three challenges for the design and implementation of money management interventions for substance abuse: (i) clients may not trust mental health centers to manage their money, (ii) clients may have different economic perspectives from clinicians and researchers, and (iii) clients may obtain substances through informal networks of exchange. This article clarifies the inherently complex symbolic and social dimensions of money and addiction and illustrates the need for researchers and clinicians to be mindful of the cultural assumptions that underlie money management interventions for substance abuse. Using an anthropological approach toward understanding the issues surrounding money management for individuals struggling with addiction and mental illness has the potential to strengthen the design and implementation of money-management-based interventions in a manner that is acceptable and meaningful for this target population.
"Photographing money" is a self-service model under the mobile Internet. The task pricing is reasonable, related to the success of the commodity inspection. First of all, we analyzed the position of the mission and the membership, and introduced the factor of membership density, considering the influence of the number of members around the mission on the pricing. Multivariate regression of task location and membership density using MATLAB to establish the mathematical model of task pricing. At the same time, we can see from the life experience that membership reputation and the intensity of the task will also affect the pricing, and the data of the task success point is more reliable. Therefore, the successful point of the task is selected, and its reputation, task density, membership density and Multiple regression of task positions, according to which a nhew task pricing program. Finally, an objective evaluation is given of the advantages and disadvantages of the established model and solution method, and the improved method is pointed out.
Jakob von Uexkull
Full Text Available The widespread failure to understand money creation plays a key role in the current policy impasse. In a world ruled by money, this failure disempowers and prevents serious consideration of alternatives. The key reasons why we are not moving faster in tackling the global crises are, we are told, because it is too expensive, there is not enough money, it is not (yet profitable enough to do etc. Within the current global monetary framework, this is largely true. Therefore, any realistic plan to change course before we are overwhelmed by the inter-linked environmental, social and security threats facing us, is to change this framework to ensure that money becomes our servant again. The current debt crisis offers an opportunity to replace discredited debt-based money created by private banks in their interest with government-created debt-free money benefitting all, which can be used to fund a global emergency programme.“We know now that government by organised money is just as dangerous as government by organised mob.” — President F.D. Roosevelt, 31.10.36“The essence of the contemporary monetary system is creation of money, out of nothing, by private banks’ often foolish lending. Why is such privatisation of a public function right and proper, but action by the central bank to meet pressing public need, a road to catastrophe?” — Martin Wolf, ‘Financial Times’, 9.11.10“The obvious way to reduce our public and private debts is to stop having all our money created as debt.” — James Robertson, ‘Future Money’
The paper discovers microeconomic mechanism of Veblen effect as well as of Giffen case as results of the negative marginal utility of money. The marginal utility of consumption also becomes negative. The total consumption-leisure utility is increased due to the increase in leisure time. This overall effect results in the phenomenon of money illusion on the macroeconomic level. This general effect has deep historical and institutional grounds and, in order to minimize its disequilibrium econom...
Andrew B. Whinston; Paula Hernandez-Verme; Haibo Huang
Temzelides and Williamson (2001) provides valuable contribution into the private money literature, however, as pointed out by Schreft (2001), while the model provides insight about historical experiences with private paper monies, it does not provide a clear insight on how a modern system of private electronic money would work and how the necessary network shall function. Our target of this paper is to fill in that gap. We present a model with two types of private electronic currencies with o...
McPherson, Michael F
This project investigates the year-end rush to spend and the origins. A secondary examination considers the feasibility of using carryover incentives to extend the obligation period by up to twelve months...
Full Text Available This text deals with the importance of studying environment public spending. Initially, we discuss the concept of environment public spending and how it became a public accounting function. Later, an analysis of several studies on the theme was carried out to promote a discussion on the environment public funds allocated by governments. Next, a discussion on the relevance of the theme and the need for further studies is presented, since investments on environment management still need to be better allocated and duly dimensioned. Currently, transparence in public spending has promoted the realization of more studies, leading to a more careful observation of environmental issues by the society, showing that these issues still need more attention from the goverment.
Full Text Available This paper evaluates the factors responsible for maintaining substantial military expenditures in Greece and Turkey. The presented research encompasses theoretical and empirical aspects. First, defense spending by both countries was analyzed based on statistical data from international sources. Next, the theoretical determinants of budgetary spending are reviewed, which consider political, economic and military factors behind high expenditures on the army in Greece and in Turkey. Finally, Granger causality tests is applied to determine whether a causal relation between variables exists in the case of these two countries.
Assaf, A. George; Josiassen, Alexander; Mattila, Anna S.
Hotel managers and investors commonly analyze the impact of advertising spending on firm performance. This paper investigates such an impact using a comprehensive framework incorporating the moderating effects of hotel size and star ratings. We estimated sales performance via dynamic, stochastic...... frontier modelling. Using longitudinal data from a sample of Slovenian and Croatian hotels, we demonstrate that advertising spending has a positive impact on hotel sales performance, and that the relationship strengthens for larger hotels and hotels with higher star ratings. Theoretical and managerial...
Borger, Christine; Rutherford, Thomas F; Won, Gregory Y
We present a dynamic general equilibrium model of the U.S. economy and the medical sector in which the adoption of new medical treatments is endogenous and the demand for medical services is conditional on the state of technology. We use this model to prepare 75-year medical spending forecasts and a projection of the Medicare actuarial balance, and we compare our results to those obtained from a method that has been used by government actuaries. Our baseline forecast predicts slower health spending growth in the long run and a lower Medicare actuarial deficit relative to the previous projection methodology.
Holahan, John; Ghosh, Arunabh
Growth in Medicaid spending averaged 10.2 percent per year between 2000 and 2003, resulting in a one-third increase in program spending. Spending growth was lower from 2002 to 2003 because of slower growth in enrollment and in spending per enrollee, particularly for acute care services, and declines in disproportionate-share hospital (DSH) payments and upper payment limit (UPL) programs. For the entire 2000-2003 period, Medicaid spending increases were largely driven by enrollment growth, much of which was attributable to the economic downturn. Increases in spending per enrollee over the period were faster than inflation but slower than increases in private insurance spending.
What are the drivers behind the anti-money laundering (AML) governance framework? Who are the actors and institutions, and what is the policy content? This chapter provides an overview of the processes and mechanisms of AML policy-making. AML is often presented as a financial problem, and something......, moreover, that is key to debates about international political economy (IPE) since it goes to the heart of the integrity of the financial system and also, at least in principle, aims to impose controls on the movement of money. Yet, as a policy concern, thinking about money laundering was developed away...... from traditional settings for the regulation of global finance. Instead, AML policies were driven by and linked to the public policy objectives of law and order. As a result, the governance of money laundering encompasses a broad set of goals, techniques and professional knowledge. It brings together...
... them. The National Money Laundering Strategy for 2007 identifies areas in which the U.S. government will work to revise, enhance, or renew efforts to enforce existing Federal laws and regulations...
Fahd Boundi Chraki
Full Text Available The aim of this paper is to examine the link between Marx's monetary theory and its explanation of value, production and circulation. For this, it presents the basic theoretical elements that allow a critique of the quantitative theory, the Chartalist conception of the genesis of money and the post-Keynesian theory of endogenous money. Then, from a Marxist perspective, it analyzes the controversial relationship between the monetization of public debt and the increase in the general level of prices.
Tan, Timothy M; Spiegel, Paul; Haskew, Christopher; Greenough, P Gregg
Numerous simultaneous complex humanitarian emergencies strain the ability of local governments and the international community to respond, underscoring the importance of cost-effective use of limited resources. At the end of 2011, 42.5 million people were forcibly displaced, including 10.4 million refugees under the mandate of the United Nations High Commissioner for Refugees (UNHCR). UNHCR spent US$1.65 billion on refugee programs in 2011. We analyze the impact of aggregate-level UNHCR spending on mortality of refugee populations. Using 2011 budget data, we calculated purchasing power parity adjusted spending, disaggregated by population planning groups (PPGs) and UNHCR Results Framework objectives. Monthly mortality reported to UNHCR's Health Information System from 2011 to 2012 was used to calculate crude (CMR) and under-5 (U5MR) mortality rates, and expressed as ratios to country of asylum mortality. Log-linear regressions were performed to assess correlation between spending and mortality. Mortality data for 70 refugee sites representing 1.6 million refugees in 17 countries were matched to 20 PPGs. Median 2011 spending was $623.27 per person (constant 2011 US$). Median CMR was 2.4 deaths per 1,000 persons per year; median U5MR was 18.1 under-5 deaths per 1,000 live births per year. CMR was negatively correlated with total spending ( p = 0.027), and spending for fair protection processes and documentation ( p = 0.005), external relations ( p = 0.034), logistics and operations support ( p = 0.007), and for healthcare ( p = 0.046). U5MR ratio was negatively correlated with total spending ( p = 0.015), and spending for favorable protection environment ( p = 0.024), fair protection processes and documentation ( p = 0.003), basic needs and essential services ( p = 0.027), and within basic needs, for healthcare services ( p = 0.007). Increased UNHCR spending on refugee populations is correlated with lower mortality
Seyed Ali Enjoo
commercialism of knowledge and education which is contrary to their culture and also against fair distribution of educational opportunities is probable. (4-6 In this condition the pressure of stigma on the student with lower scores in theentrance and the other examinations is not ethically acceptable either.The other problem of this type of private financial support in higher education is the matter of distinguishing the clear border between public sector incomes regarding the private one. Some similar studies in combining public and private healthcare services showed that it is the private sector that finally has income from the public one contrary to the presuppositions. (7From another view supporters of self-governing branch (previously called international branch, while it doesn’t have real international students, faculty members or staffs could state some benefits for private contribution to public sector higher education such as taking financial resources from private to the public, preventing capital leakage of rich people in the country to abroad. More over, It is said that “it is better to spend your money to attain knowledge and degree comparing with thosewho spend their talents and academic knowledge and degree to attain money in an unethical way”; namely if rich persons tend to spend their money to improve their family members knowledge and to help the scientific sector of the public, it would be appreciated as a good practiceand act. on the other hand, could see some talent students or graduates who committed immoral practices such as a case in which a doctor explicitly states to the laboratory or other Para clinics colleague: “how much do Iget if I send you patients?” (8Conclusion: Entering best fields of best universities by the lower cut off scores comparing other similar applicant merely because of parents’ economic status could consider as an exemplary of unequal opportunity for equal ones. Helping public science sector of the society via paid
357 B SPENDING OPTIONS BY BUDGET FUNCION ...... 363 TABLES 1. Baseline Deficit Projections, Fiscal Years 1993-2004...direct control of the Congress. abled beneficiaries and beneficiaries with end-stage renal disease. Nonhealth changes enacted in The total that is
Emanuel, Richard; Adams, Jim; Baker, Kim; Daufin, E. K.; Ellington, Coke; Fitts, Elizabeth; Himsel, Jonathan; Holladay, Linda; Okeowo, David
This study sought to assess how college students spend their time communicating and what impact, if any, communications devices may be having on how that time is spent. Undergraduates (N = 696) at four southeastern colleges were surveyed. Results revealed that listening comprises 55.4% of the total average communication day followed by reading…
Chu V. Nguyen
The asymmetric, cointegrating relationship between the return on equity market and the narrowly defined money supply is documented. In fact, equity return and the monthly percentage change in the Colombian money supply M1 spread adjusts to the threshold value slower when a contractionary countercyclical policy action or an economic shock causes the money supply M1 to fall relative to the share price index, widening their spread, than when an expansionary countercyclical monetary policy action...
Full Text Available The goal of the entry: “Feasibility of selected private money” is the assessment of practicability of selected private money types as future currency especially in terms of attributes that the currency should meet to fulfil all claims required by its users. In the first step the features that the widely used currency has to have will be described and it will be analysed which of these features are characteristic for nowadays currencies (Czech crown and Euro too. In the second step private (unnationalized money will be described as well as several concepts derived from it. The paper will concern mainly on Hayek’s concept of private money and on particular variations of Local exchange trading systems. In the next part there will be pointed out good and bad features of these types of money, mainly from the view of characteristics that the proper currency should have. At the end it will be carried out the comparison of bad and good effects resulting from using of particular currencies types and I will decide about the applicability of analysed private money types. The paper uses the standard methods of scientific work. Firstly, the method of description is used to describe the development of private money concepts and characteristic features that the currency should have. Then, a comparative analysis is used to discuss the differences between contemporary currencies and unnationalized currencies as well as between required and real features of particular private money. At the end the method of synthesis, deduction and induction is used.
Bergstra, J.A.; de Leeuw, K.
The famous new money Bitcoin is classified as a technical informational money (TIM). Besides introducing the idea of a TIM, a more extreme notion of informational money will be developed: exclusively informational money (EXIM). The informational coins (INCOs) of an EXIM can be in control of an agent
Cuckler, Gigi; Martin, Anne; Whittle, Lekha; Heffler, Stephen; Sisko, Andrea; Lassman, Dave; Benson, Joseph
Provide a detailed discussion of baseline health spending by state of residence (per capita personal health care spending, per enrollee Medicare spending, and per enrollee Medicaid spending) in 2009, over the last decade (1998-2009), as well as the differential regional and state impacts of the recent recession. State Health Expenditures by State of Residence for 1991-2009, produced by the Centers for Medicare & Medicaid Services' Office of the Actuary. In 2009, the 10 states where per capita spending was highest ranged from 13 to 36 percent higher than the national average, and the 10 states where per capita spending was lowest ranged from 8 to 26 percent below the national average. States with the highest per capita spending tended to have older populations and the highest per capita incomes; states with the lowest per capita spending tended to have younger populations, lower per capita incomes, and higher rates of uninsured. Over the last decade, the New England and Mideast regions exhibited the highest per capita personal health care spending, while states in the Southwest and Rocky Mountain regions had the lowest per capita spending. Variation in per enrollee Medicaid spending, however, has consistently been greater than that of total per capita personal health care spending or per enrollee Medicare spending from 1998-2009. The Great Lakes, New England, and Far West regions experienced the largest slowdown in per person health spending growth during the recent recession, largely as a result of higher unemployment rates. Public Domain.
Cuckler, Gigi; Martin, Anne; Whittle, Lekha; Heffler, Stephen; Sisko, Andrea; Lassman, Dave; Benson, Joseph
Objective Provide a detailed discussion of baseline health spending by state of residence (per capita personal health care spending, per enrollee Medicare spending, and per enrollee Medicaid spending) in 2009, over the last decade (1998–2009), as well as the differential regional and state impacts of the recent recession. Data Source State Health Expenditures by State of Residence for 1991–2009, produced by the Centers for Medicare & Medicaid Services' Office of the Actuary. Principal Findings In 2009, the 10 states where per capita spending was highest ranged from 13 to 36 percent higher than the national average, and the 10 states where per capita spending was lowest ranged from 8 to 26 percent below the national average. States with the highest per capita spending tended to have older populations and the highest per capita incomes; states with the lowest per capita spending tended to have younger populations, lower per capita incomes, and higher rates of uninsured. Over the last decade, the New England and Mideast regions exhibited the highest per capita personal health care spending, while states in the Southwest and Rocky Mountain regions had the lowest per capita spending. Variation in per enrollee Medicaid spending, however, has consistently been greater than that of total per capita personal health care spending or per enrollee Medicare spending from 1998–2009. The Great Lakes, New England, and Far West regions experienced the largest slowdown in per person health spending growth during the recent recession, largely as a result of higher unemployment rates. PMID:22340779
Bonke, Jens; Hussain, M. Azhar; Munk, Martin David
This paper describes intergenerational earnings and income mobility among top-income households in Denmark. Access to administrative registers allowed us to look at very small fractions of the populations, and to distinguish between sons and daughters and to observe their spouses’ incomes. At the....... At the top of the income distribution we find a correlation of 0.763 between father and mother’s pooled income and that of their son and daughter-in-law’s pooled income, which indicates that money marries money....
The Bank of England recently initiated a new survey of the sterling money market on behalf of the Money Market Liaison Group. This market — where short-term wholesale borrowing and lending in sterling takes place — plays a central role in the Bank’s pursuit of its monetary and financial stability objectives. Participants include banks, other financial institutions and non-financial companies, who use the market to manage their liquidity, by investing over short periods and raising short-term ...
Chen, Christopher T; Li, Ling; Brooks, Gabriel; Hassett, Michael; Schrag, Deborah
To characterize spending patterns for Medicare patients with incident breast, prostate, lung, and colorectal cancer. 2007-2012 data from the Surveillance, Epidemiology, and End Results Program linked with Medicare fee-for-service claims. We calculate per-patient monthly and yearly mean and median expenditures, by cancer type, stage at diagnosis, and spending category, over the years of diagnosis and death. Over the year of diagnosis, mean spending was $35,849, $26,295, $55,597, and $63,063 for breast, prostate, lung, and colorectal cancer, respectively. Over the year of death, spending was similar across different cancer types and stage at diagnosis. Characterization of Medicare spending according to clinically meaningful categories may assist development of oncology alternative payment models and cost-effectiveness models. © Health Research and Educational Trust.
Full Text Available The paper presents the money laundering and terrorist financing prevention system in Croatia. The basic concepts are defined, the principles and fundamentals of international regulations analysed, and the regulatory system in Croatia covered by statute and money laundering prevention Regulations is presented, in conjunction with a description of the organisation, remit and international actions of the Money Laundering Prevention Office.The infiltration of dirty money is a crucial problem from national economies. The purchase of shares, of real estate, the establishment of dirty investment funds and the use of the banking system for the embedding of such resources is a danger to the credibility of a whole country, and in particular to the security of the financial and banking system. Croatia has adopted statutory measures aimed at the effective detection and prevention of suspicious financial transactions, in other words the prevention of money laundering.Launderers constantly find new ways, make use of new non-financial channels and expand their activities to real estate, artworks and insurance. Hence it is necessary to keep up with European approaches and recommendations, to strive for further improvement of the laws and the modernisation of the system, and to adopt new regulations harmonised with international standards, particularly with Directive 2005/60/EC.
Tan Juat Hong
The paper investigates the causal relationships between government spending and revenue for Malaysia. The study uses annual data, a Johansen cointegration test and an error-correction model. A preliminary test shows that government revenue and expenditure are cointegrated. Empirical results support the spend-and-tax hypothesis. Furthermore, they underscore the fact that fiscal policy may not be effective enough to curb the rising budget deficits over the long term and may even reduce private ...
Seth Carpenter; Selva Demiralp
The transmission mechanism of monetary policy has received extensive treatment in the macroeconomic literature. Most models currently used for macroeconomic analysis exclude money or else model money demand as entirely endogenous. Nevertheless, academic research and many textbooks continue to use the money multiplier concept in discussions of money. We explore the institutional structure of the transmission mechanism beginning with open market operations through to money and loans to document...
Oguzhan Cepni; Ibrahim Ethem Guney
There is a long discussion among academics and central bankers about the theories of money supply. According to the exogenous view, central banks have the full control over money supply via policy actions including the adjustments of interest rates and reserve ratios, both of which alter commercial banks’ lending decisions. However, the theory of endogenous money supply emphasizes the role of demand for bank loans in money creation. More specifically, banks create money by meeting the demand ...
Koerner, Susan Silverberg; Korn, Marcella; Dennison, Renee Peltz; Witthoft, Sara
The present research examined adolescents' views of their future with respect to money and financial well-being via an open-ended question and inductive content analysis. The participants were adolescents (N = 255) whose parents were divorced between 5 and 24 months at the time of data collection. The most common worries pertained to (a) being…
The Enron Corporation went from a $65 billion dollar market capitalization to bankruptcy in just 16 months. Using statistical techniques for extracting the implied probability distributions built into option prices, I examine the market's expectation of Enron's risk of collapse. I find that the "smart money" remained far too optimistic about the stock until just weeks before their bankruptcy filing.
Full Text Available The purpose of this article is to explore the development of Russian military spending in light of weak and negative growth of the Russian economy and to look at the reasons for the economic decline that has developed after the economic crisis in 2009 and is due to long-term internal structural factors that have existed since the mid-2000s. The confidence crisis resulting from Russia's aggression against Ukraine 2014, Western sanctions and falling oil prices has further aggravated these tendencies and the economy is now contracting. The main conclusions are that the share of the defense budget in GDP has risen substantially, but there is still a trade-off between defense and other public spending in the budget. Political reform would be necessary to implement market institutions and revive the economy.
Full Text Available Most buyers on the business spending markets use one or more of the following buying methods: description, inspection, sampling and negotiating. Products are usually standardized according to their characteristics (size, shape, weight or color. The buyer is able to buy only depending in the description or quantity or other characteristic. In some cases buyer may specify business brand or its equivalent when describing desired product.
Leider, Jonathon P
Accurate information on how much the United States spends on public health is critical. These estimates affect planning efforts; reflect the value society places on the public health enterprise; and allows for the demonstration of cost-effectiveness of programs, policies, and services aimed at increasing population health. Yet, at present, there are a limited number of sources of systematic public health finance data. Each of these sources is collected in different ways, for different reasons, and so yields strikingly different results. This article aims to compare and contrast all 4 current national public health finance data sets, including data compiled by Trust for America's Health, the Association of State and Territorial Health Officials (ASTHO), the National Association of County and City Health Officials (NACCHO), and the Census, which underlie the oft-cited National Health Expenditure Account estimates of public health activity. In FY2008, ASTHO estimates that state health agencies spent $24 billion ($94 per capita on average, median $79), while the Census estimated all state governmental agencies including state health agencies spent $60 billion on public health ($200 per capita on average, median $166). Census public health data suggest that local governments spent an average of $87 per capita (median $57), whereas NACCHO estimates that reporting LHDs spent $64 per capita on average (median $36) in FY2008. We conclude that these estimates differ because the various organizations collect data using different means, data definitions, and inclusion/exclusion criteria--most notably around whether to include spending by all agencies versus a state/local health department, and whether behavioral health, disability, and some clinical care spending are included in estimates. Alongside deeper analysis of presently underutilized Census administrative data, we see harmonization efforts and the creation of a standardized expenditure reporting system as a way to
This paper analyses some of the results of a survey of public opinion carried out in Ireland in the early Autumn of 1989. The survey itself was an innovation in the political economy of taxation and public spending in Ireland in that it was the first time a fully articulated exercise was mounted to establish the actual preferences of the population over specified areas of the economics of the public sector.[extract
important part of regional growth. UI ACCA 9o1n For ’NDis i - Dljt s i-: . TABLE OF CONTENTS I. INTRODUCTION .. .. .. .... ..... .... .... .... ..... .. 7...Mideast and Great Lakes, all show spending to taxation ratios of less than one on a per capita basis, yet the Southwest and Rocky Mountain states have...because businesses look beyond the obvious nominal rate and locate according to effective rates of taxation , ie. actual tax liability. In addition, tax
This paper locates the endogenous money approach in a circuitist framework. It argues for the significance of the credit creation process for the evolution of the economy and the absence of any notion of â€˜neutrality of moneyâ€™. Clearing banks are distinguished from other financial institutions as the providers of initial finance in a circuit whereas other financial institutions operate in a final finance circuit. Financialization is here viewed in terms of the growth of financial assets an...
Brad T Klontz
Full Text Available Much of the existing literature on financial behavior focuses on basic money management tasks (e.g., balancing a checkbook. However, it can be equally important to identify problematic financial behaviors that can sabotage one’s financial health. The purpose of this study was to create an assessment tool that can be used by mental health and financial professionals to identify disordered money behaviors that may impede on progress towards one’s financial goals. This study asked 422 respondents to indicate their agreement with disordered money behaviors, including compulsive buying, pathological gambling, compulsive hoarding, workaholism, financial enabling, financial dependence, financial denial, and financial enmeshment, which were correlated with demographic characteristics and financial outcomes. The results identified eight subscales derived from 68 disordered money behavior items. All eight subscales were found to have high reliability in measuring disordered behaviors, and six were associated with negative financial health indicators (e.g. less net worth, less income, and/or more revolving credit.
Leung, Gabriel M; Tin, Keith Y K; Chan, Wai-Sum
To derive actuarial projection estimates of Hong Kong's total domestic health expenditure to the year 2033. Disaggregating health expenditure by age, sex, unit cost and utilisation level, we estimated future health spending by projecting utilisation (by public/private, inpatient/outpatient care) to reflect demographic changes and associated increase in demand (from higher expectations and greater intensity of care), and then multiplying such by the projected unit costs (incorporating the impact of key cost drivers such as public expectations, technological changes and potential productivity gains) to obtain total expenditure estimates. The model was most sensitive to the excess health care price inflation rate, i.e. the annual price/cost growth of medical goods and services over and above per capita GDP growth. Population ageing and growth per se, without taking into account related technologic innovation for chronic conditions that particularly afflict older adults, contribute relatively little to overall spending growth. Given the model assumptions, it is possible to limit total health spending to below 10% of GDP by 2033, where the public share would gradually decline from the current 57% to between 46% and 49%. Expenditure control through global budgeting, technology assessment and demand-side constraints should be considered although their effectiveness remains inconclusive.
Alberini, Anna; Chiabai, Aline
We use data from a survey of residents of five Italian cities conducted in late spring 2004 to estimate the discount rates implicit in (1) money versus future risk reductions and (2) money versus money tradeoffs. We find that the mean personal discount rate is 0.3-1.7% in (1) and 8.7% in (2). The latter is lower than the discount rates estimated in comparable situations in many recent studies, greater than market interest rates in Italy at the time, and exhibits modest variation with age and gender. The discount rate implicit in money versus risk tradeoffs is within the range of estimates from studies in the United States and Europe, and does not depend on observable individual characteristics. We use split samples to investigate whether a completely abstract risk reduction - one where the risk reduction delivery has been stripped of all specifics, so that respondents should focus on the risks without being distracted by details - results in WTP and discount figures comparable to those from an identified delivery mechanism (a medical test). We find that while WTP for an immediate risk reduction is 42-73% higher with the abstract risk reduction, the discount rate in the money versus risk tradeoffs and the variance of the error term in the WTP equation are the same across the two variants of the questionnaire.
Jeremy D Goldhaber-Fiebert
Full Text Available Adherence is crucial for public health program effectiveness, though the benefits of increasing adherence must ultimately be weighed against the associated costs. We sought to determine the relationship between investment in community health worker (CHW home visits and increased attendance at cervical cancer screening appointments in Cape Town, South Africa.We conducted an observational study of 5,258 CHW home visits made in 2003-4 as part of a community-based screening program. We estimated the functional relationship between spending on these visits and increased appointment attendance (adherence. Increased adherence was noted after each subsequent CHW visit. The costs of making the CHW visits was based on resource use including both personnel time and vehicle-related expenses valued in 2004 Rand. The CHW program cost R194,018, with 1,576 additional appointments attended. Adherence increased from 74% to 90%; 55% to 87%; 48% to 77%; and 56% to 80% for 6-, 12-, 24-, and 36-month appointments. Average per-woman costs increased by R14-R47. The majority of this increase occurred with the first 2 CHW visits (90%, 83%, 74%, and 77%; additional cost: R12-R26.We found that study data can be used for program planning, identifying spending levels that achieve adherence targets given budgetary constraints. The results, derived from a single disease program, are retrospective, and should be prospectively replicated.
Full Text Available L'analisi della definizione degli aggregati monetari ha avuto un ruolo di primo piano nel dibattito sul denaro negli anni Sessanta e la prima metà degli anni Settanta . I problemi connessi con il rapporto tra denaro e quasi- denaro ha importanti implicazioni per i vari aspetti fondamentali della teoria monetaria e della politica monetaria . In Italia , per motivi legati alla peculiarità del quadro istituzionale , il problema in questione non ha ricevuto molta attenzione . Solo di recente , a seguito della diffusione di strumenti di mercato monetario , molti partiti hanno sollevato la questione per quanto riguarda l'inclusione di questi strumenti nella definizione dello stock del denaro . Dopo aver spiegato la natura del problema , il presente lavoro fornisce un'analisi empirica della questione .The analysis of the definition of monetary aggregates has had a leading role in the debate on money in the sixties and the first half of the seventies. The problems associated with the relationship between money and quasi-money has important implications for various fundamental aspects of monetary theory and monetary policy. In Italy, for reasons related to the peculiar institutional framework, the issue in question has not received much attention. Only recently, as a result of the diffusion of money market instruments, have many parties raised the question regarding the inclusion of these instruments in the definition of the stock of money. After explaining the nature of the problem, the present work provides an empirical analysis of the issue.JEL: E42, E52
Apr 1, 2010 ... Book cover Primary Healthcare Spending: Striving for Equity under Fiscal Federalism ... Primary Healthcare Spending is an important reference for ... field of health policy and health economics, agencies involved in providing ...
Assaf, A. George; Josiassen, Alexander; Ahn, Jin Sun
This article investigates the potential of corporate social responsibility (CSR) to influence the link between advertising spending and firm performance. Drawing upon the literature of CSR, we hypothesize that CSR positively moderates the relationship between advertising spending and firm perform...
Russian nuclear power stations are owed more than 100 billion rubles, according to Yevgeniy Ignatenko, vice president of the state-owned utility organization Rosenergoatom, which is responsible for operation of nuclear power stations. A Russian grid company, which came into existence at the beginning of 1993, is supposed to collect money from consumers and pay the power stations for the electricity that they have supplied, but Ignatenko complains that this company has paid less than half of the money it owes for the first eight months of the year
This thesis points to a possible weakness of the empirical literature on corruption and government spending. That corruption affects the composition of government spending, and in particular that it affects education and health spending adversely, seems to be empirically well established. However, there exist additional literature closely related to corruption and government spending, treating(i) a relationship between corruption and decentralization, and (ii) a relationship between decentral...
Coups d'etat continue to be common around the world, often leading to changes in leaders and institutions. We examine the relationship between military spending and coups and find that (i) successful coups increase military spending by more than failed attempts, and (ii) coups are more likely when military spending as a share of GDP is relatively low. Our identification strategy exploits the conditional independence between a coup's outcome and the change in military spending that follows it....
Full Text Available The article focuses on the amount of military spending in the Slovak Republic. In the first part, the terms of defense expenditure and military spending are defined. The second part focuses on the evolution of military spending in the Slovak Republic so far and the future prospects, as well as on the structure of military spending. The final part covers the amount of defense expenditure in relation to the objectives and tasks of the Armed Forces of the Slovak Republic.
Total capital and exploration spending by the Canadian petroleum industry is estimated at $6.579 billion in 1993, a drop of 4.7% from estimated 1992 outlays. Last year Canadian capital spending of $6.9 billion represented a drop of 8.9% from 1991 outlays, according to an Oil and Gas Journal survey. All survey related spending estimates in this paper are in U.S. dollars. All individual company spending estimates are in Canadian dollars
Many school districts are becoming aggressively entrepreneurial in their efforts to raise money. One district serves as the Internet service provider for their area, another rents buses and drivers to community groups. A sidebar describes a controversial deal between Coca-Cola and the Colorado Springs School District. (MLF)
Gedik, H.; Voss, T.A.; Voss, A.
Money is one of the most frequently passed items in the world. The aim of this study was to ascertain the survival status of bacteria including Staphylococcus aureus, Escherichia coli, and Vancomycin- Resistant Enterococci (VRE) on banknotes from different countries and the transmission of bacteria
Delgadillo, Lucy M.; Bushman, Brittani S.
Use of the Money Habitudes exercise has gained popularity among various financial professionals. This article reports on the reliability of this resource. A survey administered to young adults at a western state university was conducted, and each Habitude or "domain" was analyzed using Cronbach's alpha procedures. Results showed all six…
If money truly does not matter, and disadvantage cannot be quantified in terms of valuable social or economic goods, then questions of justice become aridly academic. How are resources to be valued? Faulty research design skewed Eric Hanushek's results. More precisely designed studies are revealing relationships between school expenditures and…
Studies by psychologists, sociologists and economists indicate that increases in incomes beyond about US$4,000 are not related to happiness nor significantly with the objective quality-of-life indicators (which increase with scientific and technological breakthroughs at the global level). Yet everyone wants more money. This may be explained by environmental disruption, relative-income effects, inadequate recognition of adaptation effects, and the materialistic bias due to our accumulation ins...
Wang, Yougui; Xu, Yan; Liu, Li
In this paper we present the relation between Keynesian multiplier and the velocity of money circulation in a money exchange model. For this purpose we modify the original exchange model by constructing the interrelation between income and expenditure. The random exchange yields an agent's income, which along with the amount of money he processed determines his expenditure. In this interactive process, both the circulation of money and Keynesian multiplier effect can be formulated. The equilibrium values of Keynesian multiplier are demonstrated to be closely related to the velocity of money. Thus the impacts of macroeconomic policies on aggregate income can be understood by concentrating solely on the variations of money circulation.
Brown, P.; Bulte, E.H.; Zhang, X.
Focusing on a remote area in rural China, we use a panel census of households in 26 villages to show that socially observable spending has risen sharply in recent years. We demonstrate that such spending by households is highly sensitive to social spending by other villagers. This suggests that
Objective Up to 50% of pregnancies are unintended in the United States, and the healthcare costs associated with pregnancy are the most expensive among hospitalized conditions. The current study aims to assess Medicaid spending on various methods of contraception and on pregnancy care including unintended pregnancies. Methods We analyzed Medicaid health claims data from 2004 to 2010. Women 14–49 years of age initiating contraceptive methods and pregnant women were included as separate cohorts. Medicaid spending was summarized using mean all-cause and contraceptive healthcare payments per patient per month (PPPM) over a follow-up period of up to 12 months. Medicaid payments were also estimated in 2008 per female member of childbearing age per month (PFCPM) and per member per month (PMPM). Medicaid payments on unintended pregnancies were also evaluated PFCPM and PMPM in 2008. Results For short-acting reversible contraception (SARC) users, all-cause payments and contraceptive payments PPPM were respectively $365 and $18.3 for oral contraceptive (OC) users, $308 and $19.9 for transdermal users, $215 and $21.6 for vaginal ring users, and $410 and $8.8 for injectable users. For long-acting reversible contraception (LARC) users (follow-up of 9–10 months), corresponding payments were $194 and $36.8 for IUD users, and $237 and $29.9 for implant users. Pregnancy cohort all-cause mean healthcare payments PPPM were $610. Payments PFCPM and PMPM for contraceptives were $1.44 and $0.54, while corresponding costs of pregnancies were estimated at $39.91 and $14.81, respectively. Payments PFCPM and PMPM for contraceptives represented a small fraction at 6.56% ($1.44/$21.95) and 6.63% ($0.54/$8.15), respectively of the estimated payments for unintended pregnancy. Conclusions This study of a large sample of Medicaid beneficiaries demonstrated that, over a follow-up period of 12 months, Medicaid payments for pregnancy were considerably higher than payments for either SARC or
Full Text Available The issue of whether government expenditure helps or hinders economic growth is still debatable. This study examines the contribution of government spending towards economic growth in South Africa using annual data from 1980 – 2014. The cointegration approach and Vector Error Correction Model were used to analyse the data. The cointegration test results indicate that there is long run relationship between government expenditure and economic growth in South Africa. The VECM outcome indicates a positive and significant link between economic growth and expenditure on the long run. There is a positive and significant relationship between exchange rate and economic growth and a significant and negative relationship between economic growth and private consumption. Based on these findings, the correlation between government expenditure and economic growth showed that there is positive relationship on the long run in South Africa, while there is a negative and significant relationship between government spending and economic growth on the short run. More spending should therefore be directed towards important sectors such as infrastructural development and industrial development in order to accelerate economic growth. There is also a need for fiscal policy to be used as an instrument to regulate the amount of money in the economy.
Constantiou, Ioanna; Legarth, Morten Fosselius; Birch Olsen, Kasper
This study investigates user behaviour in massively multiplayer online games from the perspective of their intentions to engage in real money trading. Players who engage in real money trading purchase resources instead of spending time to acquire them in the game. This behaviour influences not just...... a set of behavioural determinants grounded in empirical research on online games. The study’s findings indicate that a player’s social status and the disinhibiting effects of online play are positive influences on players’ intentions to engage in real money trading, while perceived fairness, anticipated...... regret and uncertainty about the seller’s behaviour are negative influences. Interestingly, neither the perceived enjoyment nor the potential punishments influence intentions...
Lim, Vivien K G; Sng, Qing Si
A structural model focusing on the spillover effect of parental perceived job insecurity on money anxiety was developed and tested. The crossover effect of parents' money anxiety on their children's money anxiety, money motives, and motivation to work was also examined. Data were collected from a sample of undergraduates and their parents. Results of structural equation modeling analyses supported a spillover effect of paternal perceived job insecurity on paternal money anxiety. However, maternal perceived job insecurity was not significantly associated with maternal money anxiety. Results also supported a crossover effect of parental money anxiety on youths' money anxiety. Youths' money anxiety was significantly related to youths' negative money motives. In turn, youths' negative money motives were associated with their intrinsic motivation to work. Implications of the findings are discussed. (c) 2006 APA, all rights reserved
Full Text Available There is a long discussion among academics and central bankers about the theories of money supply. According to the exogenous view, central banks have the full control over money supply via policy actions including the adjustments of interest rates and reserve ratios, both of which alter commercial banks’ lending decisions. However, the theory of endogenous money supply emphasizes the role of demand for bank loans in money creation. More specifically, banks create money by meeting the demand of economic agents. In this study, we investigate which of the money supply theories holds in Turkish economy for the period 2006-2015 by employing cointegration and causality tests. Our findings show that the causality runs from bank loans to money supply both in the short and long terms, which supports the endogenous view in a sense that central bank and the banks fully meet the total demand for money in Turkish economy.
New forms of mobile-based financial applications - known as mobile money ... and shared with teams presently implementing socially-motivated mobile money ... IWRA/IDRC webinar on climate change and adaptive water management.
Keohane, Laura M; Gambrel, Robert J; Freed, Salama S; Stevenson, David; Buntin, Melinda B
To analyze the sources of per-beneficiary Medicare spending growth between 2007 and 2014, including the role of demographic characteristics, attributes of Medicare coverage, and chronic conditions. Individual-level Medicare spending and enrollment data. Using an Oaxaca-Blinder decomposition model, we analyzed whether changes in price-standardized, per-beneficiary Medicare Part A and B spending reflected changes in the composition of the Medicare population or changes in relative spending levels per person. We identified a 5 percent sample of fee-for-service Medicare beneficiaries age 65 and above from years 2007 to 2014. Mean payment-adjusted Medicare per-beneficiary spending decreased by $180 between the 2007-2010 and 2011-2014 time periods. This decline was almost entirely attributable to lower spending levels for beneficiaries. Notably, declines in marginal spending levels for beneficiaries with chronic conditions were associated with a $175 reduction in per-beneficiary spending. The decline was partially offset by the increasing prevalence of certain chronic diseases. Still, we are unable to attribute a large share of the decline in spending levels to observable beneficiary characteristics or chronic conditions. Declines in spending levels for Medicare beneficiaries with chronic conditions suggest that changing patterns of care use may be moderating spending growth. © Health Research and Educational Trust.
The term digital money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency, thereby affecting the money supply. This paper studies the effect of replacing central bank currency on the narrowly defined stock of money under various assumptions regarding regulatory policies and monetary operations of central banks and the reaction of the banking system.
Negoescu Gheorghe; Radu Riana Iren
In full times of crisis, money has become increasingly more important. We put the issue to analyze whether money can be considered a form of energy. The article is taking into consideration the conservation of energy and for money is due to kinetic energy during the boom and to potential energy during the crisis. In the article is also made an illustration of the energetic content of money at a company’s level.
Louis-Philippe Rochon; Sergio Rossi
The purpose of this paper is to shed light on the endogenous nature of money. Contrary to the established post-Keynesian, or evolutionary, view, this paper argues that money has always been endogenous, irrespective of the historical period. Instead of the evolutionary theory of money and banking that can be traced back to Chick (1986), this paper puts forward a revolutionary definition of endogenous money consistent with many aspects of post-Keynesian economics as well as with the monetary ci...
The endogenous theory of money, developed by Basil Moore, argues that the supply of central bank money in modern economies is not under the control of the central bank. According to this view, a central bank typically supplies cash reserves automatically on demand at its minimum lending rate, resulting in a clearly horizontal money supply function. While the paper agrees with Moore that the supply of central bank money cannot be determined exogenously by the central bank, it wonders whether t...
Portuese, Aurelien; MacNeil, Iain
Money market funds are widely used by all types of investors, including households, corporate treasurers, pension funds, or insurance companies, who regard money market funds as a ‘safe’ short-term liquid asset class for investing cash. In this case they are proxies to cash deposits. Money market funds are themselves key lenders to issuers of short dated high quality money market instruments. They provide an important source of funding for a variety of institutions such as sovereigns, banks, ...
Tang, Thomas Li-Ping
Money has significant impacts on people's motivation and their work-related behavior in organizations. This study was conducted to develop the Money Ethic Scale (MES) and to examine the initial nomological network of the scale. A 25-page questionnaire on attitudes toward money was distributed to 1,200 subjects, including students and faculty of a…
We extend the two-period-lived-agent overlapping generations model with endogenous fertility and demand for money to understand whether and how the introduction of a money sector modifies what we have so far learned about fertility behaviours. It is shown that the existence of money may tend to exacerbate existing problems of either under-population or over-population.
... contain adverse effects on the capital markets and other money market funds. In addition, throughout the... acquisition of second tier securities by money market funds might have a negative effect on those issuers of...; Treasury Strategies Comment Letter. Commenters asserted that eliminating money market funds' ability to...
Full Text Available The importance of money and the role they hold in the economy can be seen as the keystone of economic life. For a better understanding of the essence of the monetary phenomena it is especially important to turn to history and see how money was born. By turning to their origins, we discover the real fundaments of monetary issues. Only after such a systematic analysis we will be able to suggest the appropriate solutions for the current monetary issues. Therefore, in this study I will research the origin of money and their functionality on the market.The aim of this paper is to analyse the origin of money as a social institution. The appearance and use of money has prehistoric roots. People have turned to the usage of money out of need to facilitate trade. During thousands of years money has known different forms going from money as merchandise, to coins and later to paper money and electronic currency. In this study I have analysed the role of natural money, as well as their production and functionality on the market. The main questionto be answered is whether the production and functionality of paper money nowadays is the consequence of the free market, having the Austrian’s School liberal perspective as a starting point. This methodological approach demonstrates that money is and will remain a social institution and the implication of the authorities in the currency issuing, even from ancient times, has caused distortions in the economic activity.
Tang, Thomas Li-Ping
Despite the fact that money is important in everyday life, there is a dearth of empirical material and research concerning the meaning of money and people's attitudes towards money in the psychological literature. This study examined the underlying concepts or beliefs people hold about money and the extent to which different needs can be fulfilled…
Muhammad Arshad Khan
Full Text Available This paper tests the constancy and stationarity of mechanic version of the money multiplier model for Pakistan using monthly data over the period 1972M1-2009M2. We split the data into pre-liberalization (1972M1-1990M12 and post-liberalization (1991M1-2009M2 periods to examine the impact of financial sector reforms. We first examine the constancy and stationarity of the money multiplier and the results suggest the money multiplier remains non-stationary for the entire sample period and sub-periods. We then tested cointegration between money supply and monetary base and find the evidence of cointegration between two variables for the entire period and two sub-periods. The coefficient restrictions are satisfied only for the post-liberalization period. Two-way long-run causality between money supply and monetary base is found for the entire period and post-liberalization. For the post-liberalization period the evidence of short-run causality running from monetary base to money supply is also identified. On the whole, the results suggest that money multiplier model can serve as framework for conducting short-run monetary policy in Pakistan. However, the monetary authority may consider the co-movements between money supply and reserve money at the time of conducting monetary policy.
Full Text Available This essay examines the evolution in the meaning and usage of two types of special currencies: pin money and mad money. At the start of the twentieth century, both currencies were considered a woman’s money. By the end of the century, however, both pin money and mad money had lost a large measure of their original gendered connotations. By situating the evolving meanings of these currencies alongside concepts of domesticity, virtuous womanhood, and a woman’s proper place, this essay strives to illuminate the rise and fall of pin money and mad money as uniquely “women’s dollars."
I study money creation in versions of the Trejos-Wright (1995) and Shi (1995) models with indivisible money and individual holdings bounded at two units. I work with the same class of policies as in Deviatov and Wallace (2001), who study money creation in that model. However, I consider an alternative notion of implementability–the ex ante pairwise core. I compute a set of numerical examples to determine whether money creation is beneficial. I find beneficial e?ects of money creation if indiv...
Brüggemann, Imke; Nautz, Dieter
Recently, the Bundesbank claimed that monetary targeting has become considerably more diffcult by the increased volatility of short-term money growth. The present paper investigates the impact of German money growth volatility on income velocity and money demand in view of Friedman's money growth volatility hypothesis. Granger-causality tests provide some evidence for a velocity-volatility linkage. However the estimation of volatility-augmented money demand functions reveals that - in contras...
Corina – Maria ENE
Full Text Available The mainly goal of money laundering is to carry out more and more illegal economic transactions or activities to produce individual or groups gains and then to legitimate them. Money laundering converts illicit source of money generated by criminal activities in order to hide the connection between money and their original illegal activities. This is one of money laundering side. The second side implies corruption. While money laundering is a passing channel for illicit funds due to its criminal origin source, such funds may derive from corruption offences. All corruption’s forms represent the most important illicit funds branches for money laundering process. Corrupt people methods used to exploit the national and international financial system reflect the relationship between those two criminal activities. Criminals achieve their personal interests by hiding their corruption proceeds and transfer these gains to official economies. Corruption spread in any society entails money laundering spread, and the converse, too. There is a quite “indecent” relationship between money laundering and corruption. This paper tries to identify the multiple connections between the two phenomenons showing the negative impacts these criminal behaviours are having on the national and international economy. We conclude by highlighting the necessity of a multidisciplinary approach in order to fight against money laundering and corruption by integrating these problem frameworks at national level. International community must focus their resources on money laundering and corruption risks areas and maximize their response impact.
Robinson, James C; Whaley, Christopher M; Brown, Timothy T
Background In the United States, prices for therapeutically similar drugs vary widely, which has prompted efforts by public and private insurers to steer patients toward the lower-priced options. Under reference pricing, the insurer or employer establishes a maximum contribution it will make toward the price of a drug or procedure, and the patient pays the remainder. Methods We used difference-in-differences multivariable regression methods to analyze changes in prescriptions and pricing for 1302 drugs in 78 therapeutic classes in the United States, before and after implementation of reference pricing by an alliance of private employers. We assessed trends for the study group relative to those for an employee group that was not subject to reference pricing. The study included 1,122,741 prescriptions that were reimbursed during the period from 2010 through 2014. Results Implementation of reference pricing was associated with a higher percentage of prescriptions that were filled for the lowest-priced reference drug within its therapeutic class (difference in probability, 7.0 percentage points; 95% confidence interval [CI], 4.0 to 9.9), a lower average price paid per prescription (-13.9%; 95% CI, -23.8 to -2.7), and a higher rate of copayment by patients (5.2%; 95% CI, 0.2 to 10.4) than in the comparison group. During the first 18 months after implementation, spending for employers was $1.34 million lower and the amount of copayments for employees was $0.12 million higher than in the comparison group. Conclusions Implementation of reference pricing was associated with significant changes in drug selection and spending for a population of patients covered by employment-based insurance in the United States. (Funded by the Agency for Healthcare Research and Quality and the Genentech Foundation.).
A healthy, well-fed, educated populace is synonymous with a prospering economy. Yet, when planning their budgets, governments tend to emphasize infrastructural/industrial projects and defence rather than investing in health, education and other social programmes to eliminate the widespread poverty and high mortality of its population, which would assure a more promising future in the long-term. As citizens, nurses are responsible for initiating and supporting action to meet the health and social needs of the public. And in keeping with ICN's 1989 resolution on nuclear war, INR presents some facts on social and defence spending to show how health needs are often being deprived by emphasis on others sectors, particularly defence. The aim is "to encourage nurses to critically appraise expenditure on health and welfare at a national and global level in relation to that spent on conventional and nuclear arms and to assist nurses to develop strategies of action to contribute to international peace."
Ma, J; Zhu, J; Li, N; He, Y; Cai, Y; Qiao, Y; Redmon, P; Wang, Z
To estimate the proportion of smokers that could potentially have been prevented from smoking by limiting the amount of pocket money received by Chinese adolescents. Cross-sectional study. Current smoking, ever smoking and the amount of pocket money were determined through self-administered questionnaires among 12,708 adolescents (aged 12-18 years) from 21 schools in Shanghai, China. Adjusted odds ratios for current smoking ranged from 2.0 [95% confidence interval (CI) 1.5-2.7] for adolescents receiving 200-399 Reminbin (RMB)/month as pocket money to 6.5 (95% CI 3.3-12.7) for those receiving ≥1000 RMB/month, compared with those receiving pocket money (≥200 RMB/month) for current smoking was 50.4% (95% CI 42.2-57.4), and adjusted PAR% was 43.3% (95% CI 30.7-53.1). Approximately half of current smokers may have been prevented from smoking if pocket money was limited to pocket money was reduced further. It is recommended that future intervention programmes should target parents to reduce the amount of pocket money in China. Copyright © 2013 The Royal Society for Public Health. Published by Elsevier Ltd. All rights reserved.
Chinese excessive liquidity problems are more serious than other main countries. The upgrading industrial structure and the increasing opening degree lead to the excessive money demand and higher money demand elasticity. Bad credits weaken money supply effectiveness and lead to illusive increasing money. We set up the money market disequilibrium model under the condition of the excessive liquidity. The imbalance between money demand and money supply is the key of Chinese excessive liquidity p...
Full Text Available This paper proposes an alternative dynamic model of government spending in Indonesia. The model is based on short term disequilibrium assumption, in which multi period of shocks variables may play an important role. This research applies a loss function approach and uses optimum shock variables as the determinant for government spending during 1970-2010. The result shows that real GDP, population, and multi period shock of government spending are statistically significant. It provides evidence of the impact of multi period shocks to the realization of government spending. It implies that government faces a serious disequilibrium in determining their spending both in short and long terms.Keywords: Fiscal, government spending, deficit budget, shockJEL classification numbers: H53, H62, C22
The objective of this study was to estimate the dollar amount of nongovernment philanthropic spending on public health activities in the United States. Health expenditure data were derived from the US National Health Expenditures Accounts and the US Census Bureau. Results reveal that spending on public health is not disaggregated from health spending in general. The level of philanthropic spending is estimated as, on average, 7% of overall health spending, or about $150 billion annually according to National Health Expenditures Accounts data tables. When a point estimate of charity care provided by hospitals and office-based physicians is added, the value of nongovernment philanthropic expenditures reaches approximately $203 billion, or about 10% of all health spending annually.
Sugata Ghosh; Andros Gregoriou
In an endogenous growth model with two public goods, we analytically derive the optimal composition of government spending in the presence of corruption. Although corruption results in a loss of productivity per se, an increase in corruption in the category of public spending that is harmed relatively more by corruption could have a favourable effect on growth, as it would encourage a benevolent government to divert spending towards the public good that is more productive, net of corruption.
Pressler, T. G. Jr.
The information required by investment banks from private E and P companies regarding private financing, sales, mergers or acquisitions, was discussed. A bank will always refer to a company's reserve report in its evaluation. Using this and other information at its disposal, the principal role of the investment bank is to advise clients in regard to financial transactions, to help them receive a fair value and to steer them in the direction where the required funds are most likely to be available ('go where the money is'), be it in public or private markets, or through a sale, or merger
Recent rapid spending growth for retail drugs has largely arisen from increased use of new drugs, rather than from increasing prices of existing drugs. A sizable shift in the payment from consumers to third parties has also contributed to faster growth. Strategies such as negotiating for rebates and using tiered copayments have sought to slow spending growth but simultaneously have complicated the estimation of spending in the National Health Accounts (NHA). NHA estimates show that retail pharmaceuticals' share of health spending is not much different than it was in 1960, although its share of gross domestic product (GDP) has tripled.
Full Text Available Abstract Background At the MDG Summit in September 2010, the UN Secretary-General launched the Global Strategy for Women's and Children's Health. Central within the Global Strategy are the ambitions of "more money for health" and "more health for the money". These aim to leverage more resources for health financing whilst simultaneously generating more results from existing resources - core tenets of public expenditure management and governance. This paper considers these ambitions from a human resources for health (HRH perspective. Methods Using data from the UK Department for International Development (DFID we set out to quantify and qualify the British government's contributions on HRH in developing countries and to establish a baseline.. To determine whether activities and financing could be included in the categorisation of 'HRH strengthening' we adopted the Agenda for Global Action on HRH and a WHO approach to the 'working lifespan' of health workers as our guiding frameworks. To establish a baseline we reviewed available data on Official Development Assistance (ODA and country reports, undertook a new survey of HRH programming and sought information from multilateral partners. Results In financial year 2008/9 DFID spent £901 million on direct 'aid to health'. Due to the nature of the Creditor Reporting System (CRS of the Organisation for Economic Co-operation and Development (OECD it is not feasible to directly report on HRH spending. We therefore employed a process of imputed percentages supported by detailed assessment in twelve countries. This followed the model adopted by the G8 to estimate ODA on maternal, newborn and child health. Using the G8's model, and cognisant of its limitations, we concluded that UK 'aid to health' on HRH strengthening is approximately 25%. Conclusions In quantifying DFID's disbursements on HRH we encountered the constraints of the current CRS framework. This limits standardised measurement of ODA on HRH
Campbell, James; Jones, Iain; Whyms, Desmond
At the MDG Summit in September 2010, the UN Secretary-General launched the Global Strategy for Women's and Children's Health. Central within the Global Strategy are the ambitions of "more money for health" and "more health for the money". These aim to leverage more resources for health financing whilst simultaneously generating more results from existing resources - core tenets of public expenditure management and governance. This paper considers these ambitions from a human resources for health (HRH) perspective. Using data from the UK Department for International Development (DFID) we set out to quantify and qualify the British government's contributions on HRH in developing countries and to establish a baseline.. To determine whether activities and financing could be included in the categorisation of 'HRH strengthening' we adopted the Agenda for Global Action on HRH and a WHO approach to the 'working lifespan' of health workers as our guiding frameworks. To establish a baseline we reviewed available data on Official Development Assistance (ODA) and country reports, undertook a new survey of HRH programming and sought information from multilateral partners. In financial year 2008/9 DFID spent £901 million on direct 'aid to health'. Due to the nature of the Creditor Reporting System (CRS) of the Organisation for Economic Co-operation and Development (OECD) it is not feasible to directly report on HRH spending. We therefore employed a process of imputed percentages supported by detailed assessment in twelve countries. This followed the model adopted by the G8 to estimate ODA on maternal, newborn and child health. Using the G8's model, and cognisant of its limitations, we concluded that UK 'aid to health' on HRH strengthening is approximately 25%. In quantifying DFID's disbursements on HRH we encountered the constraints of the current CRS framework. This limits standardised measurement of ODA on HRH. This is a governance issue that will benefit from further
Fijat Ljiljana M.
Full Text Available Sport is firmly connected to politics in the whole world, the Republic of Serbia being no exception. Pronounced motives of profit in sport led to the appearance of new problems, like money laundering and business and moral unreliability of the participants. Some of anomalies are connected with politically exposed persons (PEP. Offering services within the banking industry, especially considering the private banking, entails a higher degree of discretion and confidentiality in comparison with the ordinary clients. Misuse of these business relationships by PEP has been identified. This paper surveys the statistically significant differences between domestic banks and the domestic banks with the foreign capital in relation to the groups of procedures concerning PEP based on the Recommendation 6 of the Financial Action Task Force on Money Laundering - FATF. Although the domestic banks with the foreign capital were obliged to apply the procedures related to the FATF's Recommendations to the same extent as the Main Office, significant differences between domestic and foreign banks were not found, in terms of Recommendation 6. Inadequacy of regulations and lack of enforcement procedures jeopardize the program of reforms, threatening, the privatisation in sports.
Chen, Zurong; Feng, Jingchun; Wang, Yuting; Xue, Song
We study on PPP mode’s applications motivation in the field of water conservancy project, on the basis of analyzing Friedman’s “money service” theory, for the disadvantages of traditional investment mode in water conservancy project field. By analyzing the way of government and social capital spending money in PPP projects, we get conclusion that both of which are the way of “spending their own money to do their own thing”, which fully reflects that the two sides are a win-win partnership in PPP mode. From the application motivation, PPP mode can not only compensate for the lack of local funds, improve the investment efficiency of the government, but also promote marketization and the supply-side structural reforms.
Dorothy B. Durband
Full Text Available A commonly held view is that arguments about money are associated with marital problems, but relatively little is known about the nature of arguing about money within marriage. Using data from the National Longitudinal Survey of Youth 1979 (NLSY79, this study uses a collective bargaining approach to examine the role of money arguments in marriage. The sample (N = 1,371 consists of married women. A collective bargaining framework provides a context for understanding money arguments within the marital relationship. Results indicate that costly communication is the dominant predictor of money arguments, followed by level and proportion of wife’s income, and household net worth. Because results suggest that both communication and financial resources are important components to understanding money arguments within marriage, a combination of professionals trained in marital therapy and/or financial planning is required for couples interested in seeking assistance to increase their satisfaction and/or avoid divorce.
Full Text Available The role, which money demand function plays in monetary policy formulation has attracted a lot of research studies to analyze this macroeconomic phenomenon. In the wake of current global and local economic and political upheavals, it is imperative to revisit the stability of money demand function. The study used the time series data and applied latest econometric techniques to find out the long run and short run money demand relationship. Moreover, all the three official monetary aggregates were used for finding out the most stable monetary demand relationship, which could provide correct signals for monetary policy formulation. The study found that broader monetary aggregate (M2 was the proper aggregate, which provided stable money demand function for Pakistan. The real GDP was positively related to the demand for real balances, while opportunity cost of money was negatively related. The study found that the role of financial innovation, in explaining the demand for money warrants attention in formulating monetary policy.
The endogenous money theory constitutes the core element of the post-keynesian monetary theory. The first formulation of this theory can be found in the works of Kaldor published in the 1970s. Taking these studies as a starting point, the post-keynesians elaborated two versions of the endogenous money theory which differ in their assumptions about the behaviour of the monetary authorities and the banking system, and hence offer different conclusions about the slope of the money supply curve. ...
David Andolfatto; Ed Nosal
We construct a simple environment that combines a limited communication friction and a limited information friction in order to generate a role for money and intermediation. We ask whether there is any reason to expect the emergence of a banking sector (i.e., institutions that combine the business of money creation with the business of intermediation). In our model the unique equilibrium is characterized, in part, by the existence of an agent that: (1) creates money (a debt instrument that ci...
Hassan, Shahid; Ali, Umbreen; Dawood, Mamoon
This study investigates the factors such as interest rate, GDP per capita, exchange rate, fiscal deficit, urban and rural population to determine money demand function for Pakistan over the period from 1972-2013. We use ARDL Bound Testing approach in order to test long run relation between money demand and its factors whereas both long and short run coefficients will be found using similar approach. The results show that real interest rate exerts significant and negative effect upon money dem...
Camelia ŞERBAN MORĂREANU
Preventing and combating money laundering, the product of the transnational organized crime, in general, is one of the most efficient means of stopping this activity, which is a threat for the national or international economic operations. The penal incrimination and sanction of money laundering is a useful instrument for the accountability of all categories of offenders, but also with the purpose of imposing more severe sanctions for those who commit offences generating dirty money, behind s...
The study estimates the dynamic demand for money (M2) function in Pakistan by employing cointegration analysis and error correction mechanism. The parameters of preferred model are found to be super-exogenous for the relevant class of interventions. It is found that the rate of inflation is an important determinant of money demand in Pakistan. The analysis reveals that the rates of interest, market rate, and bond yield are important for the long-run money demand behaviour. Since the preferred...
McLeay, Michael; Radia, Amar; Thomas, Ryland
This article explains how the majority of money in the modern economy is created by commercial banks making loans. Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits. The amount of money created in the economy ultimately depends on the monetary policy of the central bank. In normal times, this is carri...
Full Text Available The existence of a stable relationship between money demand and its determinants is important for the efficiency of monetary policy. In this paper we carried a preliminary analysis on the variables that can influence money demand in five Central and Eastern European countries (Bulgaria, Czech Republic, Hungary, Poland and Romania in order to determine which characteristics define the evolution of money demand and its determinants, and how volatile they are. The results indicate a number of similarities in terms of monetary development and also suggest that some additional variables that may influence money demand in this specific sample.
Wolla, Scott A.
They say that "money makes the world go round." Just imagine a world without money as our method of payment for everyday transactions. Without money, we would all need to barter for necessary goods and services. For example, suppose an accountant needs to have her car fixed. Under a barter system, she would have to find someone who needed some tax advice in exchange for car repairs. The search to find a barter partner is time consuming and wasteful. Money solves this problem and many others. ...
L. Randall Wray
This paper integrates the various strands of an alternative, heterodox view on the origins of money and the development of the modern financial system in a manner that is consistent with the findings of historians and anthropologists. As is well known, the orthodox story of money's origins and evolution begins with the creation of a medium of exchange to reduce the costs of barter. To be sure, the history of money is "lost in the mists of time," as money's invention probably predates writing....
The aim of this study was to investigate the budgeting and spending habits of university students at a South African university. In addition, the study examined if there is a significant gender difference in the budgeting and spending habits of university students. The study adopted a quantitative research approach with a ...
Diris, R.; Vandenbroucke, F.; Verbist, G.
This study assesses the role of social spending in relation to child poverty in European welfare states. Using macro-level panel data from EU SILC 2005-2012, we analyze the effect of the size of social spending and the effect of how those benefits are targeted. We separately estimate the effect of
Primary Healthcare Spending : Striving for Equity under Fiscal Federalism. Couverture du livre Primary Healthcare Spending: Striving for Equity under Fiscal Federalism. Auteur(s) : Okore Apia Okorafor. Maison(s) d'édition : UCT Press, CRDI. 1 avril 2010. ISBN : 9781919895215. 200 pages. e-ISBN : 9781552504895.
The recession of 2007–2009 has led to renewed interest in forecasting discretionary consumer spending and whether marketing variables contain predictive content. Using the ACSI customer satisfaction index and both linear and nonlinear methods, this note suggests the index fails to enhance our understanding of the temporal evolution of discretionary spending.
Ittersum, van K.; Wansink, B.; Pennings, J.M.E.; Sheehan, D.
Although interest in smart shopping carts is increasing, both retailers and consumer groups have concerns about how real-time spending feedback will influence shopping behavior. Building on budgeting and spending theories, the authors conduct three lab and grocery store experiments that robustly
van Ittersum, Koert; Wansink, B.; Pennings, J.M.E.; Sheehan, D.
Although interest in smart shopping carts is increasing, both retailers and consumer groups have concerns about how real-time spending feedback will influence shopping behavior. Building on budgeting and spending theories, the authors conduct three lab and grocery store experiments that robustly
van Ittersum, Koert; Wansink, B.; Pennings, J.M.E.; Sheehan, D.
Although interest in smart shopping carts is increasing, both retailers and consumer groups have concerns about how real-time spending feedback will influence shopping behavior. Building on budgeting and spending theories, the authors conduct three lab and grocery store experiments that robustly
Gebregziabher, Fiseha Haile; Niño-Zarazúa, Miguel
Notwithstanding the unprecedented attention devoted to reducing poverty and fostering human development via scaling up social sector spending, there is surprisingly little rigorous empirical work on the question of whether social spending is effective in achieving these goals. This paper examines...
Easter, Jon C; Thorpe, Kenneth
Chronic diseases increase utilization and avoidable drug-sensitive spending, but little is done to optimize medication use and drive value. Value-based approaches to health care financing should shift focus to drug-sensitive spending to balance patient access and quality improvement with cost containment. ©2018 by the North Carolina Institute of Medicine and The Duke Endowment. All rights reserved.
Vladislav Yakovlevich Fokin
Full Text Available The paper presents a classification of region’s municipalities that differ according to two criteria – the structure and level of incomes, and the level of consumer spending. The author investigated the combination of income sources (wages, pensions and unemployment benefits that form in the aggregate the amount of disposable money income of the people who live in the administrative-territorial units of Perm Krai. The author also analyzed the influence of people’s incomes on retail trade turnover in the region’s municipalities. The data were collected, grouped and analyzed; they show that the level of people’s income in large and medium cities, which are industrial centers, exceeds considerably the values of these indicators registered in rural municipalities, single-industry settlements and depressed areas. The reason for this lies in low wages of working population, a large proportion of retirees and the unemployed in the rural areas, single-industry settlements and depressed areas. The article defines nine types of territorial entities in the region that differ in level and structure of income and consumer spending in the municipalities. The author concludes that the territorial differentiation of municipal formations influences the formation of stratified population groups distinguished by the level of income and consumption. The solution to this problem requires joint efforts by the regional administration and municipal authorities to develop management actions with regard to specific features of each municipality
Koontz, Lynne; Cullinane Thomas, Catherine; Ziesler, Pamela; Olson, Jeffrey; Meldrum, Bret
This paper provides an overview of the evolution, future, and global applicability of the U.S. National Park Service's (NPS) visitor spending effects framework and discusses the methods used to effectively communicate the economic return on investment in America's national parks. The 417 parks represent many of America's most iconic destinations: in 2016, they received a record 331 million visits. Competing federal budgetary demands necessitate that, in addition to meeting their mission to preserve unimpaired natural and cultural resources for the enjoyment of the people, parks also assess and showcase their contributions to the economic vitality of their regions and the nation. Key approaches explained include the original Money Generation Model (MGM) from 1990, MGM2 used from 2001, and the visitor spending effects model which replaced MGM2 in 2012. Detailed discussion explains the NPS's visitor use statistics system, the formal program for collecting, compiling, and reporting visitor use data. The NPS is now establishing a formal socioeconomic monitoring (SEM) program to provide a standard visitor survey instrument and a long-term, systematic sampling design for in-park visitor surveys. The pilot SEM survey is discussed, along with the need for international standardization of research methods.
Griskevicius, Vladas; Tybur, Joshua M; Ackerman, Joshua M; Delton, Andrew W; Robertson, Theresa E; White, Andrew E
The ratio of males to females in a population is an important factor in determining behavior in animals. We propose that sex ratio also has pervasive effects in humans, such as by influencing economic decisions. Using both historical data and experiments, we examined how sex ratio influences saving, borrowing, and spending in the United States. Findings show that male-biased sex ratios (an abundance of men) lead men to discount the future and desire immediate rewards. Male-biased sex ratios decreased men's desire to save for the future and increased their willingness to incur debt for immediate expenditures. Sex ratio appears to influence behavior by increasing the intensity of same-sex competition for mates. Accordingly, a scarcity of women led people to expect men to spend more money during courtship, such as by paying more for engagement rings. These findings demonstrate experimentally that sex ratio influences human decision making in ways consistent with evolutionary biological theory. Implications for sex ratio effects across cultures are discussed.
Luca Arciero; Ronald Heijmans; Richard Heuver; Marco Massarenti; Cristina Picillo; Francesco Vacirca
This paper develops a methodology, based on Furfine (1999), to identify unsecured interbank money market loans from transaction data of the most important euro processing payment system, TARGET2, for maturity ranging from one day (overnight) up to three months. The implementation has been verified with (i) interbank money market transactions executed on the Italian trading platform e-MID and (ii) aggregated reporting by the EONIA panel banks. The Type 2 (false negative) error for the best per...
Snyder, Angela; Marton, James; McLaren, Susan; Feng, Bo; Zhou, Mei
Treating youth with serious emotional disturbances (SED) is expensive often requiring institutional care. A significant amount of recent federal and state funding has been dedicated to expanding home and community-based services for these youth as an alternative to institutional care. High Fidelity Wraparound (Wrap) is an evolving, evidence-informed practice to help sustain community-based placements for youth with an SED through the use of intensive, customized care coordination among parents, multiple child-serving agencies, and providers. While there is growing evidence on the benefits of Wrap, few studies have examined health care spending associated with Wrap participation and none have examined spending patterns after the completion of Wrap. Merging health care spending data from multiple agencies and programs allows for a more complete picture of the health care costs of treating these youth in a system-of-care framework. (i) To compare overall health care spending for youth who transitioned from institutional care into Wrap (the treatment group) versus youth not receiving Wrap (the control group) and (ii) to compare changes in health care spending, overall and by category, for both groups before (the pre-period) and after (the post-period) Wrap participation. The treatment group (N=161) is matched to the control group (N=324) temporally based on the month the youth entered institutional care. Both total health care spending and spending by category are compared for each group pre- and post-Wrap participation. The post-period includes the time in which the youth was receiving Wrap services and one year afterwards to capture long-term cost impacts. In the year before Wrap participation, the treatment group averaged USD 8,433 in monthly health care spending versus USD 4,599 for the control group. Wrap participation led to an additional reduction of USD 1,130 in monthly health care spending as compared to the control group in the post-period. For youth
Executive summary: 1. This is the second report on a study investigating how demand for food products with varying degrees of convenience depends on disposable income and disposable time. 2. Both absolute and relative expenditures on convenient food decrease with disposable time and increase...... in Denmark. This contrasts with Sweden, where higher education leads to more expenditure on fast food. This may indicate a slower pace of modernisation of eating habits in Denmark than in Sweden. 6. Ownership of microwave ovens and dishwashers means more expenditure on fast meals. Ownership of a freezer...... means reduced expenses on most kinds of foodstuffs, possibly due to obtaining quantity discounts. 7. Ownership of household appliances and hiring domestic help decreases the probability of eating out. 8. Singles spend money on meals away from home more frequently than couples, whereas the spending...
Full Text Available Lawyers are not immune to committing offences and the provisions of criminal law apply to them accordingly. The criminal liability of lawyers represents a natural aspect in the rule of law. Lawyers involved as defendants in criminal cases do not benefit from any special status or privileges compared to other defendants. In the international context of the fight against money laundering, the community law has submitted the profession of lawyer to two obligations concerning vigilance and denouncement. The assimilation of lawyer’s profession to financial or non-regulated professions entails the deformation of rules and principles specific to lawyers, as well as discussing the bases of any democratic society: the professional secrecy of lawyers and their independence.
Bille, Trine; Løyland, Knut; Holm, Anders
on the supply of arts hours. This finding supports arts policy and shows the impact of art grants on artists’ motivation to work on their arts. The causality of wages on supply is demonstrated by estimating the effects of wage shocks (grants) on arts labor supply using fixed-effect and difference......This paper assesses the relative impact of work for money or work for passion on Norwegian artists by examining artists’ labor supply. Our contribution is twofold. The first is to test the work-preference model and the second is to investigate the impact of arts grants on artists’ labor supply...... adds to the literature by estimating the significance of these various income sources on the time allocated to arts work, non-arts work, and leisure. The results provide convincing evidence for the work-preference model, and ad hoc evidence shows that art grants have a significant positive effect...
Bennett, A.F.; Cryer, Bob; Carlisle, Kenneth; Dean, Paul.
The debate concerns the authorisation of payment of the money required to reorganise the atomic weapons establishment in the United Kingdom provided for in the Atomic Weapons Establishment Bill in progress through Parliament. In the Bill the contractorisation of the establishment is recommended and some sort of Government owned company operated scheme set up. The debate lasted about half an hour and is reported verbatim. The issues raised concerned the actual sums likely to be incurred in the formation of a Company to carry out the designated activities of the Bill. These are connected with the research, development, production or maintenance of nuclear devices and the premises needed. The government spokesman suggested the sums required to support the Bill would not be large and the resolution was agreed to without a vote. (UK)
Full Text Available Abstract Background Belarus has a focused HIV epidemic concentrated among injecting drug users, female sex workers and men who have sex with men. However, until 2008, Belarus had no way of evaluating HIV spending priorities. In 2008, Belarus committed to undertaking a comprehensive National AIDS Spending Assessment (NASA in order to analyze HIV spending priorities. NASA was used to 'follow the money' from the funding sources to agents and providers, and eventually to beneficiary populations. Findings Belarus spent the majority of its funding on prevention, diagnosis and treatment of sexually transmitted infections and on securing the blood supply. International donors and NGOs working within Belarus spent the majority of their funding on preventative activities for high risk groups while Global Fund to Fight AIDS, Tuberculosis, and Malaria (GFATM solely funded antiretroviral treatment. Conclusions The data and experience obtained through conducting NASA will help build capacity for future resource tracking activities for HIV and other health priorities. This experience established the foundation for enhanced and future consistent quality-reporting of National Health Accounts. Monitoring the flow of resources for Belarus' HIV response provides valuable strategic information that can improve operations and planning as well as mobilize greater resources. NASA offers Belarusian policy makers an overview of HIV activities that merit their priority attention. In addition, the findings from Belarus are particularly relevant for the rest of the Commonwealth of Independent States due to their similar epidemiological profiles and centrally planned systems. The Belarusian government faces future challenges, especially in increasing public investments in HIV prevention for female sex workers and their clients, men who have sex with men, and among intravenous drug users.
Full Text Available The future science of Economics must be human-centered, value-based, inclusive, global in scope and evolutionary in perspective. It needs to be fundamentally interdisciplinary to reflect the increasingly complex sectoral interconnections that characterize modern society. It must also be founded on transdisciplinary principles of social existence and human development that constitute the theoretical foundation for all the human sciences. This paper examines three fundamental aspects of modern economy to illustrate the types of issues and perspectives relevant to a reformulation of Economics framed within a broader political, social, cultural, psychological and ecological context. It examines the social forces responsible for the present functioning of economies, which can be effectively addressed and controlled only when they are made conscious and explicit. Whatever the powers that have shaped its development in the past, the rightful aim of economic science is a system of knowledge that promotes the welfare and well-being of all humanity. Markets and money are instruments for the conversion of social potential into social power. They harness the power of organization to transform human energies into the capacity for social accomplishment. The distribution of rights and privileges in society determines how these social institutions function and who benefits. Freedom means access to social power and is only possible in the measure all forms of that power—political, economic and social—are equitably distributed. The current system is inherently biased in favor of privileged elites reinforcing domination by the more powerful. The emergence of the individual is the vanguard of social evolution and the widest manifestation of creative individuality is its pinnacle. This emergence can only be fully achieved in conditions of freedom and equality. Economic theory needs to make explicit the underlying forces determining the distribution of power and
Sanford E. DeVoe; Jeffrey Pfeffer; Byron Y. Lee
The authors investigate how the amount and source of income affects the importance placed on money. Using a longitudinal analysis of the British Household Panel Survey and evidence from two laboratory experiments, they found that larger amounts of money received for labor were associated with individuals placing greater importance on money; but this effect did not hold for money not related to work. The longitudinal survey analysis demonstrated these differential effects of the source of inco...
Anti-money laundering policy has become a major issue in the Western world, especially in the United States after 9-11. Basically all countries in the world are more or less forced to cooperate in the global fight against money laundering. In this paper, the criminalization of money laundering is
Tang, Thomas Li-Ping; Kim, Jwa K.
Money has been recognized as an important factor to attract, retain, and motivate employees and has significant impacts on people's behavior, performance, and effectiveness in organizations. Created to evaluate the validity of the Money Ethic Scale, this study investigates the measurement and dimensionality of money attitudes through…
Cockx, Lara; Francken, Nathalie
In line with the rising interest in harnessing natural resource revenues for economic and human development through productive government investments, this paper aims to address an important blind spot in our understanding of the “resource curse” by contributing innovative insights on how natural resource wealth impacts government priorities and expenditure practices. Using a large panel dataset of 140 countries covering the period from 1995 to 2009, we find an adverse effect of resource dependence on public education expenditures relative to GDP that is robust to controlling for a range of additional covariates. Furthermore, our findings indicate that this resource curse effect on the government prioritization of education mainly stems from point-source natural resources. These results are of particular importance for the sustainable management of natural resource wealth in developing countries, as they could achieve especially high returns by investing resource revenues in public goods such as education. While this paper underlines the importance of institutions and government accountability, our findings also raise questions on the role of the private sector as a partner in development, as the extractives industry could consider increasing funding for education through Corporate Social Responsibility (CSR) initiatives. - Highlights: •We use a panel dataset of 140 countries covering the period from 1995 to 2009. •We find an inverse relationship between resource dependence and education spending. •The effect of resource dependence is robust to controlling for several covariates. •Indirect effects through a decline in accountability and the service industry. •This curse mainly stems from point-source resource dependence.
Kim, Hugh Hoikwang; Maurer, Raimond; Mitchell, Olivia S.
Many households display inertia in investment management over their life cycles. Our calibrated dynamic life cycle portfolio choice model can account for such an apparently ‘irrational’ outcome, by incorporating the fact that investors must forgo acquiring job-specific skills when they spend time managing their money, and their efficiency in financial decision making varies with age. Resulting inertia patterns mesh well with findings from prior studies and our own empirical results from Panel Study of Income Dynamics (PSID) data. We also analyze how people optimally choose between actively managing their assets versus delegating the task to financial advisors. Delegation proves valuable to both the young and the old. Our calibrated model quantifies welfare gains from including investment time and money costs as well as delegation in a life cycle setting. PMID:28344380
... 7 Agriculture 15 2010-01-01 2010-01-01 false Money laundering. 3560.462 Section 3560.462 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, DEPARTMENT OF... Other Actions § 3560.462 Money laundering. The Agency will act in accordance with U.S. Code Title 18...
Baker, Bruce D.
This second edition policy brief revisits the long and storied literature on whether money matters in providing a quality education. It includes research released since the original brief in 2012 and covers a handful of additional topics. Increasingly, political rhetoric adheres to the unfounded certainty that money does not make a difference in…
Rørdam, Kirsten Bonde; Bech, Morten Linnemann
This paper presents the first topological analysis of Danish money market flows. We analyze the structure of two networks with different types of transactions. The first network is the money market network, which is driven by banks' behavior on the interbank market, the second is the network...
This paper explores an essential but neglected aspect of recent discussions of the banking and financial system, namely money itself. Specifically, I take up a distinction drawn by Susan Strange which has never been fully elaborated: between a financial system that is global, and an international monetary system that remains largely territorial. I propose a sociological elaboration of this distinction by examining each category, 'finance' and 'money', in terms of its distinctive orientation to risk and debt. Money is distinguished by its high degree of liquidity and low degree of risk, corresponding to expectations that derive from its status as a 'claim upon society'- a form of socialized debt. But as Strange argued, these features of money are being undermined by the proliferation of sophisticated instruments of financial risk management -'strange money'- that, as monetary substitutes, both weaken states' capacity to manage money, and more broadly, contribute to 'overbanking'. The ultimate danger, according to Strange, is the 'death of money'. The paper concludes by exploring the implications of the distinction for sociological arguments about the changing nature of money. © London School of Economics and Political Science 2011.
Pearlman, Sarah; Rebelein, Robert P.
In this article, the authors outline a classroom exercise involving goldsmiths designed to improve undergraduate students' understanding of how banks create money. This concept is important to macroeconomics and money and banking courses, yet students frequently struggle with it, largely due to the nonphysical nature of deposits and reserves.…
The main objective of this paper is to discuss a complex and yet not taken in consideration global public good: money. Money is a social convention created and accepted by people in order to facilitate economic transactions, being a symbol, without an int
In June 1993 the "Wall Street Journal" carried a table of data prepared by the Heritage Foundation that listed the states in order of the average amount they expend on each public school student. The table also contained each state's rank on the average score on the Scholastic Aptitude Test (SAT) and the rank of each state in the average…
Kim, Hyoun S; Hollingshead, Samantha; Wohl, Michael J A
Social casino games are online gambling-like games found on social networking sites. They are initially free to play, however, players are encouraged to make micro-transactions (i.e., in-game purchases) for additional game credits or functionality. As a result, they generate billions of dollars in revenue. Yet, little is known as to who purchases virtual credits, let alone why. In the present research, we assessed whether there are individual differences (impulsivity, reward sensitivity, competitiveness, and problem gambling severity) between who is and who is not likely to make micro-transactions during social casino game play. Moreover, we examined possible motivations for making micro-transactions (e.g., extend play, win back lost credits) and whether the individual difference variables of interest predict reported motivation(s) for making micro-transactions. Results showed that social casino gamers who engaged in micro-transactions reported significantly higher levels of impulsivity, reward sensitivity and problem gambling severity, but not competitiveness. In terms of motivation to make micro-transactions, desire to extend play was endorsed most frequently, followed by a desire to access additional features, chasing lost credits, and to speed up play. Lastly, among participants who made micro-transactions, reward sensitivity predicted making micro-transactions to chase lost credits. These results suggest the personality make-up of social casino gamers is important to understand who is likely to make micro-transactions as well as their motivation to do so-information that could prove useful for regulation of the industry.
Islam Mohammad Saiful
Full Text Available The purpose of the study is to identify the main reasons of money laundering in Bangladesh among the twenty seven predicate offences of money laundering prescribed by Bangladesh Bank and position of Bangladesh among South Asian Countries regarding anti-money laundering practices. Besides, an anti-money laundering model has been developed to combat against money laundering as 14 percent bankers think that only existing know your customer form and transaction profile of banking sector are not enough to detect money laundering. To conduct the study, 91 bankers have been surveyed to take response through structured questionnaire regarding their opinion about the predicate offences of money laundering and sufficiency of existing KYC form of banking sector to detect money laundering. From the responses, factor analysis, test of hypothesis, correlation and regression analysis have been conducted using SPSS software. The study identifies that predicate offences of money laundering can be minimized mainly through scrutinizing the activities of local criminals with foreign network and strict anti-corruption measures through automation in National Board of Revenue, strict policy adoption of criminal detection and support from foreign experts. Besides, regression model shows that only six predicate offences of money laundering explains 87.2 percent of money laundering that should get more emphasize to combat against money laundering. From the comparative analysis, it has been found that Bangladesh in holding better position just after India among six South Asian Countries according to Basel AML Index score. This study provides a complete understanding of the position of Bangladesh in case of money laundering and anti-money laundering practices. The integration of four domains, i.e. AML model development, factor analysis, econometric analysis and comparative analysis of AML index will provide insights to managers and policy makers about the money laundering
Educators and economists concerned with monetary reform face the extraordinary challenge of explaining to the public and its elected representatives not only what a reformed system would look like, but also how the current system works. Centrally, the point that in a modern economy money is largely...... created by commercial banks, as explained by the Bank of England recently (McLeay, Radia & Thomas, 2014b), is often met with incredulity: “What do you mean, created?” This paper introduces five easy-to-grasp analogies that educators and reformers may use to convey key money-creation concepts to a lay...... audience. The analogies offered include (1) money as patches in an expandable patchwork quilt that covers a nation’s real assets, (2) the money supply as water in a bathtub with a faucet and a drain, (3) money understood as debt in a model economy run by schoolchildren, (4) the misleading concept of a bank...
Bonke, Jens; Deding, Mette; Lausten, Mette
In this paper, we analyse the distribution of time and money for Danish wage earner couples, where time is defined as leisure time and money as extended income, i.e. the sum of disposable income and the value of housework. The hypothesis is that individuals being rich in one dimension are more...... likely to be poor in the other dimension, such that individuals can be classified as either money-poor/time-rich or money-rich/time-poor. We analyse two different distributions of income, where the first assumes no sharing and the second complete sharing of income between spouses. The data are from...... the Danish Time-Use Survey 2001, merged with register data. Results show that the substitution of money for time is more prominent for women than for men, because they have a larger income share of time-intensive value of housework, while men have the larger share of disposable income. Furthermore, when...
Full Text Available This study aims to determine the effect of the use of debit cards and electronic money to consumption expenditure Development Economics of students, State University of Malang. The type of this research is quantitative research, and data used is primary data from questionnaires. The analysis technique used is multiple linear regression analysis. Sample in this research is 150 students out from 240 students in Development Economics, Faculty of Economics, State University of Malang. The results indicate that according to the hypothesis test there is a positive and significant influence between the use of debit cards and electronic money to consumption expenditure of Development Economics student, State University of Malang students of 2014. The use of debit cards and electronic money also affect the students consumption expenditure. It is caused by non-cash payments are easy to use. Psychologically, anyone will spend their money easier in non-cash payment than in cash form. The results of this research indicate that Development Economics students in State University of Malang are consumptive.
Volker Meier; Helmut Rainer
We consider a bargaining model in which husband and wife decide on the allocation of time and disposable income. Since her bargaining power would go down otherwise more strongly, the wife agrees to having a child only if the husband also leaves the labor market for a while. The daddy months subsidy enables the couple to overcome a hold-up problem and thereby improves efficiency. However, the same ruling harms cooperative couples and may also reduce welfare in an endogenous taxation framework.
This essay examines the evolution in the meaning and usage of two types of special currencies: pin money and mad money. At the start of the twentieth century, both currencies were considered a woman’s money. By the end of the century, however, both pin money and mad money had lost a large measure of their original gendered connotations. By situating the evolving meanings of these currencies alongside concepts of domesticity, virtuous womanhood, and a woman’s proper place, this essay strives t...
Niedzwiedz, Claire L; Mitchell, Richard J; Shortt, Niamh K; Pearce, Jamie R
Common mental disorders are an increasing global public health concern. The least advantaged in society experience a greater burden of mental illness, but inequalities in mental health vary by social, political, and economic contexts. This study investigates whether spending on different types of social protection alters the extent of social inequality in depressive symptoms. Data were obtained from the 2006 and 2012 cross-sectional waves of the European Social Survey, which included 48,397 individuals from 18 European countries. Depressive symptoms were measured using the Centre for Epidemiologic Studies-Depression Scale (CES-D 8). Statistical interactions between country-level social protection spending and individuals' education level, employment and family status were explored using multilevel regression models. Higher spending on active labour market programmes was related to narrower inequality in depressive symptoms by education level. Compared to men with high education, the marginal effect of having low education was 1.67 (95 % CI, 1.46-1.87) among men in countries with lower spending and 0.85 (95 % CI, 0.66-1.03) in higher spending countries. Single parents exhibited fewer depressive symptoms, as spending on family policies increased. Little evidence was found for an overall association between spending on unemployment benefits and employment-related inequalities in depressive symptoms, but in 2012, unemployment spending appeared beneficial to mental health among the unemployed. Greater investment in social protection may act to reduce inequalities in depressive symptoms. Reductions in spending levels or increased conditionality may adversely affect the mental health of disadvantaged social groups.
Khaled A. ALASMARI
Full Text Available Money laundering is a silent crime. Its goal is to cover up the source of large sums of money that criminals often gather from their criminal activities. This paper will analyze the situation of money laundering in narcotics as it applies in Saudi Arabia. To achieve this end, the paper will first define important terms such as money laundering and narcotics. It will then explain the relationship between money laundering, narcotics trade, and terrorism activities. This background information will form the base for analyzing the various efforts that the Saudi Arabia nation has in place for countering money laundering in narcotics trade. The paper will then explain the challenges facing these efforts, and the future of money laundering in Saudi Arabia. The largest criminal activity associated with money laundering is terrorism financing. The several terror attacks associated with Saudi Arabia’s terror groups like Al-Qaida have made the government realize the importance of curbing money laundering in an effort to counter terrorism. Thus, anti-money laundering strategies are set in place to address all the avenues of money laundering.
Stuart, Bruce C; Dai, Mingliang; Xu, Jing; Loh, Feng-Hua E; S Dougherty, Julia
Despite a growing consensus that better adherence with evidence-based medications can save payers money, assertions of cost offsets may be incomplete if they fail to consider additional drug costs and/or are biased by healthy adherer behaviors unobserved in typical medical claims-based analyses. The objective of this study was to determine whether controlling for healthy adherer bias (HAB) materially affected estimated medical cost offsets and additional drug spending associated with higher adherence. A total of 1273 Medicare beneficiaries with diabetes enrolled in Part D plans between 2006 and 2009. Using survey and claims data from the Medicare Current Beneficiary Survey, we measured medical and drug costs associated with good and poor adherence (proportion of days covered ≥ 80% and <80%, respectively) to oral antidiabetic drugs, ACE inhibitors/ARBs, and statins over 2 years. To test for HAB, we estimated pairs of regression models, one set containing variables typically controlled for in conventional claims analysis and a second set with survey-based variables selected to capture HAB effects. We found consistent evidence that controlling for HAB reduces estimated savings in medical costs from better adherence, and likewise, reduces estimates of additional adherence-related drug spending. For ACE inhibitors/ARBs we estimate that controlling for HAB reduced adherence-related medical cost offsets from $6389 to $4920 per person (P<0.05). Estimates of additional adherence-related drug costs were 26% and 14% lower in HAB-controlled models (P < 0.05). These results buttress the economic case for action by health care payers to improve medication adherence among insured persons with chronic disease. However, given the limitations of our research design, further research on larger samples with other disease states is clearly warranted.
Full Text Available Franklin Roosevelt publicly stated his devotion to the American South and pledged to help reform the region’s laggard economy. However, Southern states received significantly fewer federal expenditures per capita, both during the New Deal of the 1930s and the military emergency of the 1940s. This article investigates economic, political, and strategic reasons for this result. Additionally, we apply a public goods perspective to New Deal and World War II spending and propose that lower levels of per capita spending in the South do not necessarily translate into a smaller impact of that spending.
Both private and public payers have experienced a persistent rise in health care spending that has exceeded income growth. The issue now transcends the health care system because health care spending growth threatens the fiscal health of the nation. This paper examines the causes and consequences of health care spending growth. It notes that the determinants of spending growth may differ from the determinants of high spending at a point in time. Specifically, the evidence overwhelmingly suggests that the primary driver ofinflation-adjusted, per capita spending growth over the past decades (and thus premium growth) has been the diffusion of new medical technology. The paper argues that while new technology has provided significant clinical benefit, we can no longer afford the persistent gap between health spending and income growth. In simple terms, if the economy is growing 2%, we cannot afford persistent health care spending growth of 4%. Growth in public spending is particularly important. If not abated, high public spending will require either substantially higher taxes or debt, both of which could lead to fiscal Armageddon. Growth in private spending also threatens economic well-being by forcing more resources toward health care and away from other sectors. For example, since the cost of employer-based coverage is always borne by employees (directly or indirectly), salary increases and health care cost increases cannot continue on together. To avoid economic disaster, payers will be forced to have a greater resolve in the future. Specifically, because neither public nor private payers will be able to finance growing health care spending, the coming decade will likely experience significant changes in health care financing. Consumers may be asked to pay more out of pocket when they seek care and both public and private payers will put increasing pressure on payment rates. Furthermore, payment rates to providers are likely to rise more slowly than in the past
Kapczynski, Amy; Kesselheim, Aaron S
The high cost of patent-protected brand-name drugs can strain budgets and curb the widespread use of new medicines. An example is the case of direct-acting antiviral drugs for the treatment of hepatitis C. While prices for these drugs have come down in recent months, they still create barriers to treatment. Additionally, prescribing restrictions imposed by insurers put patients at increased risk of medical complications and contribute to transmission of the hepatitis C virus. We propose that the federal government invoke its power under an existing "government patent use" law to reduce excessive prices for important patent-protected medicines. Using this law would permit the government to procure generic versions of patented drugs and in exchange pay the patent-holding companies reasonable royalties to compensate them for research and development. This would allow patients in federal programs, and perhaps beyond, to be treated with inexpensive generic medicines according to clinical need-meaning that many more patients could be reached for no more, and perhaps far less, money than is currently spent. Another benefit would be a reduction in the opportunity for companies to extract monopoly profits that far exceed their risk-adjusted costs of research and development. Project HOPE—The People-to-People Health Foundation, Inc.
Gedik, Habip; Voss, Timothy A; Voss, Andreas
Money is one of the most frequently passed items in the world. The aim of this study was to ascertain the survival status of bacteria including Staphylococcus aureus, Escherichia coli, and Vancomycin- Resistant Enterococci (VRE) on banknotes from different countries and the transmission of bacteria to people who come in contact with the banknotes. The survival rate was highest for the Romanian Leu yielding all three microorganisms used after both three and six hours of drying. Furthermore, the Leu was the only banknote to yield VRE after one day of drying. Other currencies either enabled the survival of Extended-Spectrum Beta-Lactamases (ESBL) and VRE (e.g. Euro), but not of MRSA, or the other way round (e.g. US Dollar). While a variety of factors such as community hygiene levels, people's behaviour, and antimicrobial resistance rates at community level obviously have influence on the transmission of resistant microorganisms, the type of banknote-paper may be an additional variable to consider.
Full Text Available Abstract Background Social grants have been found to have an impact on health and wellbeing in multiple settings. Who receives the grant, however, has been the subject of discussion with regards to how the money is spent and who benefits from the grant. Methods Using survey data from 1214 young women who were in the intervention arm and completed at least one annual visit in the HPTN 068 trial, and qualitative interview data from a subset of 38 participants, we examined spending of a cash transfer provided to young women conditioned on school attendance. Results We found that spending was largely determined and controlled by young women themselves and that the cash transfer was predominately spent on toiletries, clothing and school supplies. In interview data, young women discussed the significant role of cash transfers for adolescent identity, specifically with regard to independence from family and status within the peer network. There were almost no negative consequences from receiving the cash transfer. Conclusions We established that providing adolescents access to cash was not reported to be associated with social harms or negative consequences. Rather, spending of the cash facilitated appropriate adolescent developmental behaviours. The findings are encouraging at a time in which there is global interest in addressing the structural drivers of HIV risk, such as poverty, for young women. Trial registration Clinicaltrials.gov NCT01233531 (1 Nov 2010. First participant enrolled 5 March 2011.
Money Supply, Interest Rate, and Economic Growth in Cameroon: A Time Series ... the impacts of money and interest rate on economic growth and development. ... Money Supply, Interest Rates, Economic growth, Co-integration and Inflation.
Full Text Available This paper deals with the influence of money on the quality of life, in the light of the major importance it has on all aspects of our lives. Bearing in mind that money is an everyday, inseperable and unavoidable companion, with all its advantages and power, as well as its numerous challenges, risks and temptations, it inevitably affects all segments of the quality of life. The relation between money and quality of life, therefore, can be viewed not only theoretically, but also at a practical level. In the times we live in, which have been labelled the digital age, with ever increasing change, the key questions which arise are whether and to what extent do people really manage their money, and to what extent does money manage people and their lives, do people own money or does money own people? Although it sounds paradoxical, money causes people financial worries, whether they have it or whether they do not and so can significantly influence their quality of life. Standard macro-economic indicators, traditionally used as measures of the well-being of society, do not always give a real and complete picture of the quality of life, as this encompasses the way of life, as well as the standard of living. The quality of life includes the whole spectrum of factors, not only economic, but also many others which lead to satisfaction, both material and spiritual. These can include financial and material living conditions, employment, health, education, leisure time and social activities, economic and physical safety, human rights and freedoms, protection of the environment and overall life satisfaction. This paper analyses the direct and indirect connections between effective and efficient money management and the aforementioned factors which are decisive in forming the quality of life.
Evans, M. K.
The economic impact of R and D spending, particularly NASA R and D spending, on the U. S. economy was evaluated. The crux of the methodology and hence the results revolve around the fact that it was necessary to consider both the demand effects of increased spending and the supply effects of a higher rate of technological growth and a larger total productive capacity. The demand effects are primarily short-run in nature, while the supply effects do not begin to have a significant effect on aggregate economic activity until the fifth year after increased expenditures have taken place. The short-term economic impact of alternative levels of NASA expenditures for 1975 was first examined. The long-term economic impact of increased levels of NASA R and D spending over a sustained period was then evaluated.
Lieberthal, Robert D
Long-term health insurance provides consumers with protection against persistent, negative health shocks. While the stochastic rise in medical spending growth may make some health risks harder to insure, financial assets could act as a hedge for medical spending growth risk. The purpose of this research was to determine whether such hedges exist. The results of this study were two-fold. First, the asset classes with the strongest statistical evidence as hedges were bonds, not stocks. Second, any strategy to hedge medical spending growth involved shorting assets i.e. betting against the bond or stock market. Health insurers writing long-term contracts should combine the use of hedges in the bond market with of portfolio diversification, and may benefit from health policies to moderate the uncertainty of medical spending growth.
The quality of governance and education spending in Africa. ... and democracy, on the public budget allocation to education by using data for a panel of 28 African countries over the period 1995–2004. ... AJOL African Journals Online.
A report published by the House of Lords Select Committee on Science and Technology, claims that government figures for R&D spending are misleading. They apparently include military projects that are more concerned with product development than original research.
Dieleman, Joseph L.; Campbell, Madeline; Chapin, Abigail; Eldrenkamp, Erika; Fan, Victoria Y.; Haakenstad, Annie; Kates, Jennifer; Li, Zhiyin; Matyasz, Taylor; Micah, Angela; Reynolds, Alex; Sadat, Nafis; Schneider, Matthew T.; Sorensen, Reed; Abbas, Kaja M.; Abera, Semaw Ferede; Ahmad Kiadaliri, Aliasghar; Ahmed, Muktar Beshir; Alam, Khurshid; Alizadeh-Navaei, Reza; Alkerwi, A.; Amini, Erfan; Ammar, Walid; Antonio, Carl Abelardo T.; Atey, Tesfay Mehari; Avila-Burgos, Leticia; Awasthi, Ashish; Barac, Aleksandra; Berheto, Tezera Moshago; Beyene, Addisu Shunu; Beyene, Tariku Jibat; Birungi, Charles; Bizuayehu, Habtamu Mellie; Breitborde, Nicholas J.K.; Cahuana-Hurtado, Lucero; Castro, Ruben Estanislao; Catalá-López, Ferran; Dalal, Koustuv; Dandona, Lalit; Dharmaratne, Rakhi Dandona Samath D.; Dubey, Manisha; Faro, Andé; Feigl, Andrea B.; Fischer, Florian; Anderson Fitchett, Joseph R.; Foigt, Nataliya; Giref, Ababi Zergaw; Gupta, Rahul; Hamidi, Samer; Harb, Hilda L.; Hay, Simon I.; Hendrie, Delia; Horino, Masako; Jürisson, Mikk; Jakovljevic, Mihajlo B.; Javanbakht, Mehdi; John, Denny; Jonas, Jost B.; Karimi, Seyed M.; Khang, Young Ho; Khubchandani, Jagdish; Kim, Yun Jin; Kinge, Jonas M.; Krohn, Kristopher J.; Kumar, G.A.; Leung, Ricky; Magdy Abd El Razek, Hassan; Magdy Abd El Razek, Mohammed; Majeed, Azeem; Malekzadeh, Reza; Malta, Deborah Carvalho; Meretoja, Atte; Miller, Ted R.; Mirrakhimov, Erkin M.; Mohammed, Shafiu; Molla, Gedefaw; Nangia, Vinay; Olgiati, Stefano; Owolabi, Mayowa O.; Patel, Tejas; Paternina Caicedo, Angel J.; Pereira, David M.; Perelman, Julian; Polinder, Suzanne; Rafay, Anwar; Rahimi-Movaghar, Vafa; Rai, Rajesh Kumar; Ram, Usha; Ranabhat, Chhabi Lal; Roba, Hirbo Shore; Savic, Miloje; Sepanlou, Sadaf G.; Ao, Te Braden J.; Tesema, Azeb Gebresilassie; Thomson, Alan J.; Tobe-Gai, Ruoyan; Topor-Madry, Roman; Undurraga, Eduardo A.; Vargas, Veronica; Vasankari, Tommi; Violante, Francesco S.; Wijeratne, Tissa; Xu, Gelin; Yonemoto, Naohiro; Younis, Mustafa Z.; Yu, Chuanhua; Zaidi, Zoubida; Sayed Zaki, El Maysaa; Murray, Christopher J.L.
Background: The amount of resources, particularly prepaid resources, available for health can affect access to health care and health outcomes. Although health spending tends to increase with economic development, tremendous variation exists among health financing systems. Estimates of future
-, č. 293 (2006), s. 1-24 ISSN 1211-3298 Institutional research plan: CEZ:MSM0021620846 Keywords : indeterminacy * absolute instability * productive public spending Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp293.pdf
A recent dramatic slowdown in the rate at which private-sector spending for health insurance increases each year has raised many questions about the meaning of the trend and its implications for the future...
public budget allocation to education by using data for a panel of ... social sector spending categories, education accounts for the highest share of GDP. (5.3%), which ..... that politically stable countries will devote more resources to education.
William T. Gavin; Finn E. Kydland
This paper documents changes in the cyclical behavior of nominal data series that appear after 1979:Q3 when the Federal Reserve implemented a policy to lower the inflation rate. Such changes were not apparent in real variables. A business cycle model with impulses to technology and a role for money is used to show how alternative money supply rules are expected to affect observed business cycle facts. In this model, changes in the money supply rules have almost no effect on the cyclical behav...
Pokrovskii, Vladimir N.; Schinckus, Christophe
This paper investigates money circulation for a system, consisting of a production system, the government, a central bank, commercial banks and many customers of the commercial banks. A set of equations for the system is written; the theory determines the main features of interaction between production and money circulation. Investigation of the equations in a steady-state situation reveals some relationship among output of the production system and monetary variables. The relation of quantity theory of money is confirmed, whereas a new concept of the efficiency of the system is introduced.
A former version of this paper was published as “Free Money for Social Progress : Theory and practice of Gesell's accelerated money”, American Journal of Economics and Sociology, 57(8), October, 1998, pp. 469-483.; Silvio Gesell (1862-1930) proposed a system of stamped money in order to accelerate monetary circulation and to free money from interest. This was part of a global socialist system intended to free economy from rent and interest. In the 1930s, Irving Fisher, who proposed the system...
Epstein, Andrew J; Soliman, Ahmed M; Davis, Matthew; Johnson, Scott J; Snabes, Michael C; Surrey, Eric S
We sought to characterize changes in healthcare spending associated with the onset of 22 endometriosis-related comorbidities. Women aged 18-49 years with endometriosis (N = 180,278) were extracted from 2006-2015 de-identified Clinformatics ® DataMart claims data. For 22 comorbidities, comorbidity patients were identified on the basis of having a first comorbidity diagnosis after their initial endometriosis diagnosis. Controls were identified on the basis of having no comorbidity diagnosis and were matched 1:1 to comorbidity patients on demographics and baseline spending. Total medical and pharmacy spending was measured during 12 months before and after each patient's index date (first comorbidity diagnosis for comorbidity patients, and equal number of days after earliest endometriosis claim for controls). Pre-post spending differences were compared using difference-in-differences linear regression. Total and comorbidity-related cumulative spending per patient for all endometriosis patients were calculated annually for the 5 years following endometriosis diagnosis. The number of endometriosis patients with each comorbidity varied between 121 for endometrial cancer and 16,177 for fatigue. Healthcare spending increased significantly with the onset of eight comorbidities: breast cancer, ovarian cancer, pregnancy complications, systemic lupus erythematosus/rheumatoid arthritis/Sjogren's/multiple sclerosis, infertility, uterine fibroids, ovarian cyst, and headache [p endometriosis patient, of which between 11% and 23% was attributable to comorbidity-related medical claims. For all but one of the 22 comorbidities associated with endometriosis, comorbidity onset was associated with a relative increase in total healthcare spending. AbbVie Inc.
Shraddha Karve; Ketaki Shurpali; Neelesh Dahanukar; Maithili Jog; Milind Watve
Money is a recent phenomenon in the evolutionary history of man and therefore no separate brain centre to handle money is likely to have evolved. The brain areas activated by food reward and money reward are extensively overlapping. In an experimental set-up, hunger was demonstrated to influence money related decisions and money related thoughts to influence hunger. This suggests that the brain areas evolved for handling food related emotions are exapted to handle money and therefore there co...
Yong Tan; Vijay S. Mookerjee
This study examines coordination issues that occur in allocating spending between advertising and information technology (IT) in electronic retailing. Electronic retailers run the risk of overspending on advertising to attract customers but underspending on IT, thus resulting in inadequate processing capacity at the firm's website. In this paper, we present a centralized, joint marketing-IT model to optimally allocate spending between advertising and IT, and we discuss an uncoordinated case w...
Christopher J. Nekarda; Valerie A. Ramey
This paper investigates industry-level effects of government purchases in order to shed light on the transmission mechanism for government spending on the aggregate economy. We begin by highlighting the different theoretical predictions concerning the effects of government spending on industry labor market equilibrium. We then create a panel data set that matches output and labor variables to shifts in industry-specific government demand. The empirical results indicate that increases in gover...
Full Text Available Levinas confirms: a reflection about a money as a social and economical reality is not possible without a serious analysis of empirical data. On the other hand, this reflection always involves something else, so a money is never a merely economical category. In that sense, Levinas proposes an intriguing meditation about some “dimensions” of a money in the western tradition. Contrary to the traditional moral condemnation of a money - which however remains unquestionable because of the fact that a man always carries a risk of becoming a merchandise - Levinas suggests that money never simply means a reification, but always implies some positive dimensions. Levinas suggests that a money is not something morally bad or simply neutral covering human relationships, but rather a condition of human community. Furthermore, he claims that a money is a fundament of the justice. A money makes possible a community, he explains, because it opens up the dimension of the future, and implies the existence of human beings who give themselves a credit; a credit understood as a time and a confidence. We shall try to address some problems implied by this thesis, particularly the problem of the relationship between time, money and credit. Finally, we are going to ask whether this credit - inseparable from the very essence of the money - is not always already a sort of usury.
The following thesis rectifies the often assumed notion that children are economic innocents and portrays the full complexity of children’s economic lives. It traces the experiences of 17 German 6 to 8 year old children with their own money and explores their perspectives on their money relations. Empirical data is derived from semi-structured individual interviews and focus-group discussions with children, children’s drawings as well as semi-structured interviews with the parents of these ch...
Analysing the magnitude, composition, evolution and trends in Colombian national spending on health, forming a proposal and making an important contribution towards knowledge re the reality of social health security. The results obtained respond to an ongoing effort to systematise and standardise the adopted methodology and update calculations and estimates for the eleven-year period during which Law 100/1993 was being reformed. Analysing the above led to identifying changes in the flow of resources and establishing objective comparisons according to current/available international standards. The project began in the Colombian Planning Department (lasting 5 years) and was then passed to the Ministry of Social Protection's Health Reform Support Programme where new institutional scope has been applied during the last four years. Perhaps the work's most important contribution consists of producing annual estimates of total public and private spending on health as a time-series, for a relatively significant period. The results confirm fulfilment of the reform's suppositions in terms of the significant amount of resources channelled to the sector, the important substitution of financing private spending for spending on health insurance, greater dynamism and the importance of public funds in financing total spending and the managing of an important segment of such resources by some of the new agents created by the reform. This contrasts with the little importance paid to spending on promotion and prevention and on public health and basic attention programmes.
This edition of the Anti-Trafficking Review explores what happens to the money that is allocated by governments and private donors to stop human trafficking and to assist people who have been trafficked. It has been an honour to play the role of guest editor, though it has not been easy to steer a route between amazement (at the sums apparently involved, concern (at the lack of real insight into how money is allocated and spent and cynicism (at what appear to be rather modest achievements. It was challenging for potential authors to choose a method of analysing anti-trafficking spending. Should they simply describe what money is available and the drawbacks of the ways which donors make it available to organisations to use? Some authors take this descriptive approach. Should articles be about the efficiency and effectiveness of aid flows in general, in which case the shortcomings in anti-trafficking funding may mirror the generic flaws in aid flows? Only one author (Ucnikova has tackled this. Or, should studies focus on the way the purse strings are controlled by a small number of donors who appear poorly informed about the needs of trafficked persons or the factors that cause them to be trafficked? Several of the articles touch on this (e.g. those of Hoff and Nwogu. Early on, it became apparent to the editorial team that people working for large organisations with anti-trafficking programmes were wary of contributing articles on this topic. In this sense, although the Anti-Trafficking Review aims to promote public debate, we have not yet found the best way of opening up a debate about funding, for practitioners evidently fear that writing about their own sources of funding could result in the tap being turned off! So, it is mainly the Debate section that tackles the question of funding strategies. Even these contributions do not make assessments of the various actors involved (donors and the organisations they fund in as full and frank a way as is needed. The
McGrail, Kimberlyn; Zierler, Amy; Ip, Ivan
In 2008, Canada spent $172 billion on healthcare, more than $5,000 for every man, woman and child in the country. Canada has one of the longer life expectancies in the Organisation for Economic Co-operation and Development and relatively low (and declining) amenable mortality rates. This suggests that the healthcare system is having some positive effect; but how well do we know what is "right" and what needs improvement? What do we get for the money we spend on healthcare? This paper proposes that there are some basic issues to address before these value-for-money questions can be answered. What do we value, or what do we want to achieve with our healthcare spending? Are we using inputs such as human resources well to provide services? Are we using services well to promote health? How would we know? The paper ends with a series of challenges to healthcare managers and decision-makers: to re-establish a broad information strategy, to include research as an integral part of healthcare delivery, to develop new data that can tell us something about outcomes of care and to articulate more formally objectives for the healthcare system.
Full Text Available This article concerns the attitudes people have towards money, analysed from an economic and psychological point of view. The article presents an overview of current knowledge on the issues of money attitudes, as well as derived own research derived. This research was designed in order to identify different types of money attitudes as well as their determinants. The study identified five dominant profiles and showed that the most popular is a rational approach, and second – it’s opposite - improvidence. The results have been faced with the most important economic socialization determinants identified during the literature review. The comparison proved to be important, e.g. in the form of receiving pocket money.
Đurđević Dragan Ž.
Full Text Available This paper analyzes corporate responsibility and prevention of money laundering from the point of view of the new emerging business enviroinment, while taking into account the aspects of risk and legal responsibility. Furthermore, it analyzes the legal foundation, international standards, as well as the national Serbian regulatory system approach to anti-money laundering battle. The paper points to the key elements of anti-money laundering activities aimed at protection and safeguarding business interests, using the principles like 'knowing your client well', protecting your employees etc. By doing so, we also protect national interests, increase security and maintain the rule of law and of the stability of democratic society and institutions. Special focus is placed on the activities, roles and responsibilities of management in recognizing money laundering indicators and typologies, as well as the education of corporate staff in this area so as to be able to detect the aforementioned illegal activities in a timely manner.
This paper proposes to quantify the macroeconometric relationships among the variables broad money, lending by banks, price, and output in India using simultaneous equations system keeping in view the issue of endogeneity.
competition and entrepreneurship and International Development Research Centre. Antimonopoly ...... multiple methods of the effective usage of such money ... current type of services. .... qualitative changes as a result of scientific- technical ...
Zhou, Xinyue; Vohs, Kathleen D; Baumeister, Roy F
People often get what they want from the social system, and that process is aided by social popularity or by having money. Money can thus possibly substitute for social acceptance in conferring the ability to obtain benefits from the social system. Moreover, past work has suggested that responses to physical pain and social distress share common underlying mechanisms. Six studies tested relationships among reminders of money, social exclusion, and physical pain. Interpersonal rejection and physical pain caused desire for money to increase. Handling money (compared with handling paper) reduced distress over social exclusion and diminished the physical pain of immersion in hot water. Being reminded of having spent money, however, intensified both social distress and physical pain.
Jaime Casassus; Eduardo Walker
The Money's Worth Ratio (MWR) measures an annuity's actuarial fairness. It is calculated as the discounted present value of expected future payments divided by its cost. We argue that from the perspective of annuitants, this measure may overestimate the value-for-money obtained, since it does not adjust for liquidity or risk factors. Measuring these factors is challenging, requiring detailed knowledge of assets, liabilities, and of the stochastic processes followed by them. Using a multi-fact...
Oktavia, Adek Laksmi; Sentosa, Sri Ulfa; Aimon, Hasdi
This article focused on analyze (1) Effect of the money supply, income, domestic interest rates, inflation and the trade balance to the exchange rate in Indonesia. (2) The influence of domestic interest rates, output and the exchange rate on the money supply in Indonesia. Data used time series of (I year kuartal 2000 – IV year kuartal 2010). This article use analyzer model equation of simultaneous with method of Two Stage Least Squared (TSLS). The result of research concludes that (1) the ...
Ireland, Peter N
This paper takes an alternative approach to the topic of money and growth by developing a model in which the effects of sustained capital accumulation on an evolving system of payments, in addition to the conventional effects of sustained inflation on growth, are examined. While the effects of inflation on growth are small, the effects of growth on the monetary system are substantial. The results are consistent with ideas about money and growth contained in work that predates that of James To...
Stanley J. Sienkiewicz
This paper discusses the potential money laundering threat that prepaid cards face as they enter the mainstream of consumer payments. Over the past year, several government agencies have issued reports describing the threat to the U.S. financial system, including the use of prepaid cards by money launderers. Also, this paper incorporates the presentations made at a workshop hosted by the Payment Cards Center at which Patrice Motz, executive vice president, Premier Compliance Solutions, and Pa...
Stevens, A; Chalkidou, K; Littlejohns, P
The healthcare system in the UK, essentially the NHS, is an open economic system subject to the same pressures as any other economic system. The pressures concern limited resources coupled with powerful drivers for increasing spending: invention, demography and inflation. There have only ever been three types of economic system: steady state (everything, as in a feudal system, stays as it was the year before), market capitalism (supply and demand are allowed to find their own equilibrium) and some version of central planning. In healthcare, most advanced countries favour the last of the three. This is for three reasons: distribution (not only are the poor less able to pay for sickness, but sickness exacerbates poverty), information (markets operate poorly when providers can easily outsmart customers) and externalities (it is in the interest of everyone that infectious diseases and the other knock-on consequences of ill health are ameliorated). So in the UK, the state, with a good deal of cross-party consensus, directs most of health service supply. This system has become more complex over the decades since the formation of the NHS in 1948. A notable element of the complexity is the regulation of the introduction of new technologies. A key element of the regulatory system has been the National Institute for Health and Clinical Excellence (NICE), and a key aspect of NICE's decisions has been not just value, but also value for money. This has not been without controversy.
Furnham, Adrian; von Stumm, Sophie; Fenton-O'Creevy, Mark
This study examined sex differences in money beliefs and behaviours. Over 100,000 British participants completed two measures online, one of which assessed "money pathology" (Forman in Mind over money, Doubleday, Toronto, 1987), and the other four "money types", based on the emotional associations of money (Furnham et al. in Personal Individ Differ, 52:707-711, 2012). Nearly all measures showed significant sex differences with medium to large effect sizes, and with females exhibiting more "money pathology" than males. The biggest difference on the money types was on money being associated with generosity (money representing love) where men scored much lower than females, and autonomy (money representing freedom) where men scored higher than women. For men, more than women, money represented Power and Security. Men were more likely to be Hoarders while women did more emotional regulatory purchasing. Implications and limitations of this study are discussed.
Li, Yi Ming; Li, Jian; Chan, Darius K.-S.; Zhang, Bo
Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants' feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners' physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men's preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater “behavioral approach tendency” toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. Additionally, the results of experimental studies provide evidence for the causal effects of money on mating strategies. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships. PMID:27047415
Li, Yi Ming; Li, Jian; Chan, Darius K-S; Zhang, Bo
Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants' feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners' physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men's preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater "behavioral approach tendency" toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. Additionally, the results of experimental studies provide evidence for the causal effects of money on mating strategies. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships.
Ingvaldsen, Karsten Olaf F.; Larsson, Paul
This is the final text version of the article, it may contain minor differences from the publisher's pdf version. Norwegian authorities often claim that the financial sector, and especially the securities market, is particularly vulnerable to activities of money laundering. Money laundering is a recurrent theme in the Norwegian media. Usually the media tend to present the forms and extent of money laundering in simple and rather vague terms. The numbers circulating in the media are based u...
Anti-money laundering policy has become a major issue in the Western world, especially in the United States after 9-11. Basically all countries in the world are more or less forced to cooperate in the global fight against money laundering. In this paper, the criminalization of money laundering is modelled, assuming rational behaviour of criminals, following the law and economics strand of the literature which is described as the economics of crime. The theoretical model shows that a) the prob...
Wang, Xijing; Krumhuber, Eva G
Objectification, which refers to the treatment of others as objectlike things, has long been observed in capitalism. While the negative impact of money on interpersonal harmony has been well documented, the social cognitive processes that underlie them are relatively unknown. Across four studies, we explored whether the love of money leads to objectification, while controlling for social power and status. In Study 1, the love and importance attached to money positively predicted the tendency to construe social relationships based on instrumentality. In Study 2, the likelihood to favour a target of instrumental use was increased by momentarily activating an affective state of being rich. Temporarily heightening the motivation for money further resulted in deprivation of mental capacities of irrelevant others, including humans (Study 3) and animals (Study 4). This lack of perceived mental states partially mediated the effects of money on subsequent immoral behaviour (Study 4). The findings are the first to reveal the role of objectification as a potential social cognitive mechanism for explaining why money often harms interpersonal harmony. © 2016 The British Psychological Society.
Desai, Sunita; Hatfield, Laura A; Hicks, Andrew L; Sinaiko, Anna D; Chernew, Michael E; Cowling, David; Gautam, Santosh; Wu, Sze-Jung; Mehrotra, Ateev
Insurers, employers, and states increasingly encourage price transparency so that patients can compare health care prices across providers. However, the evidence on whether price transparency tools encourage patients to receive lower-cost care and reduce overall spending remains limited and mixed. We examined the experience of a large insured population that was offered a price transparency tool, focusing on a set of "shoppable" services (lab tests, office visits, and advanced imaging services). Overall, offering the tool was not associated with lower shoppable services spending. Only 12 percent of employees who were offered the tool used it in the first fifteen months after it was introduced, and use of the tool was not associated with lower prices for lab tests or office visits. The average price paid for imaging services preceded by a price search was 14 percent lower than that paid for imaging services not preceded by a price search. However, only 1 percent of those who received advanced imaging conducted a price search. Simply offering a price transparency tool is not sufficient to meaningfully decrease health care prices or spending. Project HOPE—The People-to-People Health Foundation, Inc.
Full Text Available In this study, the rate of Defense Spendings in the GDP, and the growth rate of GDP, and the portion of current accounts in GDP and Annual Inflation Rate are examined with getting the annual data between the 1980-2006 years, and using VAR model for Egypt, Israel, Jordan, and Turkey. In course of this examination, the results of Granger Casuality and Impulse-Response Functions and Variance Decomposition were used. The focus point of our study is for the reason of defense spendings are effective on macroeconomic variables that while Egypt and Israel has uni-directional Granger causality from the defense spendings to inflation, for other countries there couldn`t be found any Granger causality. On the other hand when we look at the impulse response functions, in case of a shock of defense spending as a percentage of GNP, while the rate of Israel`s inflation and Current account as a percentage of GNP are affected by the pozitive direction , Turkey`s growth rate is affected negatively. For Egypt and Jordan, the significiant effects on defense spendings according to macroeconomic variables couldn`t be found any significiant effects.
Yi Ming eLi
Full Text Available Money is an important factor that influences the development of romantic relationships. The current paper examines how the feeling of having relatively more or less money influences human mating strategies in long-term and short-term mating contexts under the framework of evolutionary psychology. We recruited mainland Chinese college students involved in steady, heterosexual romantic relationships to participate in two experiments. In each study, we experimentally triggered participants’ feelings of having relatively more or less money and then examined their thoughts and behaviors related to mating. Results of Study 1 showed that men who were primed to feel that they had relatively more money were less satisfied with their partners’ physical attractiveness than those primed to feel that they had less money, suggesting that the subjective feeling of having more or less money may affect men’s preferences regarding the physical appearance of a mate in a long-term relationship. Interestingly, this difference was not significant for women. Results of Study 2 indicated that both men and women who were primed to feel that they had relatively more money exhibited a greater behavioral approach tendency toward an attractive member of the opposite sex than those primed to feel that they had less money. This finding suggests that people who feel they have relatively more money may have more interest in an attractive alternative than those who feel they have relatively less money. The differences in mating strategies between and within the genders brought about by money support the evolutionary hypothesis that individuals adopt conditional mating strategies in response to environmental conditions. These findings have both conceptual and practical implications for the psychology of evolution and romantic relationships.
... 29 Labor 3 2010-07-01 2010-07-01 false Amounts of civil money penalties. 530.302 Section 530.302... EMPLOYMENT OF HOMEWORKERS IN CERTAIN INDUSTRIES Civil Money Penalties § 530.302 Amounts of civil money penalties. (a) A civil money penalty, not to exceed $500 per affected homeworker for any one violation, may...
... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Cost of money. 31.205-10....205-10 Cost of money. (a) General. Cost of money— (1) Is an imputed cost that is not a form of...) Refers to— (i) Facilities capital cost of money (48 CFR 9904.414); and (ii) Cost of money as an element...
... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Earnest money deposit. 291.535... Next Door Sales Program § 291.535 Earnest money deposit. (a) General. The earnest money deposit is the sum of money that must be paid by the law enforcement officer, teacher, or firefighter/emergency...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Civil money penalties. 81.83... § 81.83 Civil money penalties. (a) Imposition. The Secretary may impose a civil money penalty on a GSE... writing of the Secretary's determination to impose a civil money penalty by issuing a Notice of Intent to...
Sharma, Varun; Krishnaswamy, Divya; Mulay, Sanjeevanee
HIV infection poses a serious threat to the economy of a household. Out of pocket (OOP) health spending can be prohibitive and can drag households below poverty level. Based on the data collected from a cross-sectional survey of 401 households with HIV+ members in Pune city, India, this paper examines the consumption levels and patterns among households, and comments on the economic impoverishment resulting from OOP medical spending. Analysis reveals that households with HIV members spend a major portion of their monthly consumption expenditure on food items. Medical expenditure constitutes a large portion of their total consumption spending. Expenditure on children's education constitutes a minor proportion of total monthly spending. A high proportion of medical expenditure has a bearing on the economic condition of households with HIV members. Poverty increases by 20% among the studied HIV households when OOP health spending is adjusted. It increases 18% among male-headed households and 26% among female-headed households. The results reiterate the need of greater support from the government in terms of accessibility and affordability of health care to save households with HIV members from economic catastrophe.
Industry estimates are that Italian refiners' capital outlays will total almost 12 trillion lire ($7.2 billion), in 1990 currencies, in the 1990's. Most spending will be earmarked to develop cleaner fuels and plant-specific environmental mitigation measures related to new European Community regulations. Italian refiners generally have lagged some of their counterparts in Europe and North America on environmental spending. That's because they have faced a continuing margin squeeze as a result of product prices remaining under tight government controls. Last year, the government began to implement price deregulation in line with EC directives. At the same time, the government is enforcing stiffer emissions rules to improve air quality in urban areas. The paper describes spending plans; demand for oxygenates; demand for low sulfur fuel oil for power plants; and price regulations
Henry Antonio Mendoza Tolosa
Full Text Available The impact that public spending and investment have upon economic growth in the departments of Colombia is examined using the results of national accounts for the years 2000-2011. Figures for departmental production by activity, along with change over the period and information for the gross public capital are brought together to create a statistical model to assess effects. A data panel model is chosen to relate the existing differences between departments and compare the impact of spending and investment between departments using the available information. Results indicate that public spending and investment play an important role in departmental economic dynamic and that its effect is greater in larger and wealthier departments.
de Haan, T.; Offerman, T.; Sloof, R.
We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used. Theoretically, many equilibria exist side by side, in which senders use either costless messages, money, or both. We find that senders prefer to communicate through costless
de Haan, T.; Offerman, T.; Sloof, R.
We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used for communication purposes. Theoretically a large number of equilibria exist side by side, in which senders either use costless messages, money, or a combination of the two. We
de Haan, T.; Offerman, T.; Sloof, R.
We experimentally study the strategic transmission of information in a setting where both cheap talk and money can be used for communication purposes. Theoretically a large number of equilibria exist side by side, in which senders either use costless messages, money, or a combination of the two. We
In this paper, the dynamic determinants of money demand function and the long-run and short-run relationships between money demand, income and nominal interest rates are examined in Turkey for the time period 1980-2012. In particular we estimate a dynamic specification of a log money demand function based on Keynesian liquidity preference theory to ascertain the relevant elasticity of money demand. The empirical results of the study show that in Turkey inflation, exchange rate and money deman...
Chen, Siyan; Wang, Yougui; Li, Keqiang; Wu, Jinshan
In this paper, the dynamical process of money creation in a random exchange model with debt is investigated. The money creation kinetics are analyzed by both the money-transfer matrix method and the diffusion method. From both approaches, we attain the same conclusion: the source of money creation in the case of random exchange is the agents with neither money nor debt. These analytical results are demonstrated by computer simulations.
Bank has important role in process of converting illicit money to be legal proceeds. Once opportunity appears, money launderer will take advantage of that situation. Generally, banks which have poor anti-money laundering control become the main priority for offenders to process laundering their illicit money. These typical banks are usually high risk engaged in criminal behaviour, because they do not know whether or not their clients are engaged in money laundering activities. Offenders in ot...
Himmelstein, David U; Woolhandler, Steffie
We examined trends in US public health expenditures by analyzing historical and projected National Health Expenditure Accounts data. Per-capita public health spending (inflation-adjusted) rose from $39 in 1960 to $281 in 2008, and has fallen by 9.3% since then. Public health's share of total health expenditures rose from 1.36% in 1960 to 3.18% in 2002, then fell to 2.65% in 2014; it is projected to fall to 2.40% in 2023. Public health spending has declined, potentially undermining prevention and weakening responses to health inequalities and new health threats.
The Senate Appropriations Committee last week approved an energy and water spending bill with $21 billion for the Energy Department, $426 million more than the Bush administration requested, and $1.1 billion more than the agency received in the financial year 2000. The bill would provide increases above the Bush request and current spending across-the-board in DOE's renewable energy, nuclear energy, science, weapons complex cleanup, defense and nonproliferation programs. The only major program that would be funded below the president's request is nuclear waste disposal (1 page).
Shuey, Brandon; Williams, La Vonn A
There is no question that 2009 was a year of change within the pharmacy industry. Several new requirements were implemented, including the need for an Inventory Information Approval System for accepting flexible spending or health reimbursement account cords. Some pharmacies relied on the 90% exemption rule, which is discussed within this article, or an alternative method to avoid the expense of a point of sale. However, with flexible spending or health reimbursement account card participation expected to reach 85% in 2010, now bay be the time for compounding pharmacists to weigh the pros and cons of Inventory Information Approval System certification.
private - sector spending for health insurance increases each year has raised many questions about the meaning of the trend and its implications for the future. According to the federal government’s national health accounts (NHA), the annual growth rate of private health insurance expenditures tumbled from around 14 percent in 1990 to less than 3 percent in 1994 and 1995. Understanding the factors that contribute to that reduction is of particular concern to policymakers who are seeking ways to slow the growth of Medicare spending. At the same time that fundamental
Story, Giles W; Vlaev, Ivo; Metcalfe, Robert D; Crockett, Molly J; Kurth-Nelson, Zeb; Darzi, Ara; Dolan, Raymond J
People show empathic responses to others' pain, yet how they choose to apportion pain between themselves and others is not well understood. To address this question, we observed choices to reapportion social allocations of painful stimuli and, for comparison, also elicited equivalent choices with money. On average people sought to equalize allocations of both pain and money, in a manner which indicated that inequality carried an increasing marginal cost. Preferences for pain were more altruistic than for money, with several participants assigning more than half the pain to themselves. Our data indicate that, given concern for others, the fundamental principle of diminishing marginal utility motivates spreading costs across individuals. A model incorporating this assumption outperformed existing models of social utility in explaining the data. By implementing selected allocations for real, we also found that while inequality per se did not influence pain perception, altruistic behavior had an intrinsic analgesic effect for the recipient.
The prevailing view among economists and policy makers is that money has no impact on production in a longer term characterised by full price and wage flexibility and rational expectations. This book presents a revisionist view of monetary policy and monetary regimes. It presents several new...... mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed, including: the uses of monetary policy and monetary regimes in achieving macroeconomic goals; the impact of an independent central bank; the effects of a movement from floating exchange...... undergraduate and graduate students in macroeconomics, labour economics and finance. This work offers a revisionist view of monetary policy and monetary regimes. It presents several new mechanisms, indicating that money affects long-term production. The consequent policy implications are also discussed...
The economic crisis has had--and will continue to have--a dramatic effect on tax revenue and education spending throughout the United States and beyond. Yet children still show up for school every day in need of an education. In times like these, educators and school business managers must be as committed as ever to providing it. The economic…
Mutter, Davida W.; Parker, Pam J.
Even the best educational leaders can be unprepared for the responsibility of spending and accounting for the thousands of dollars that pass through school's books each year. Without a solid understanding of school financial management, administrators may find it a serious distraction from their primary pedagogical mission. They also risk damage…
Masataka Eguchi; Yuhki Hosoya
This paper investigates how does the response of private consumption to government spending be changed by intratemporal substitution among private consumption, government spending and leisure. We show that the response of private consumption to government spending can be positive even if private consumption and government spending are not complements and private consumption and leisure are not substitutes. In this case, substitution between leisure and government spending plays important role...
This article addresses the therapeutic importance of discussing money at every stage of a couple's relationship, both as a concrete reality and as a metaphor for security, adequacy, competence, commitment, acceptance, and acknowledgment in a relationship. I will present a developmental schema looking at financial issues that couples confront at various stages in the adult life cycle and how these affect and reflect relationship problems. The article also presents a money questionnaire as a useful tool for exploring family-of-origin financial history, affect, and behavior.
Kiyohiko Nishimura; Elod Takáts
When the baby boomers joined the workforce and started saving, money supply and property prices entered a rising trajectory. We conclude that demography was the long-run driver of this process, basing our argument on data from 22 advanced economies for the 1950-2010 period. According to our lifecycle model, large working-age populations saved for their old age by investing in property and broad money instruments, such as deposits. In the past, savings activity by baby boomers drove up propert...
The importance of money and the role they hold in the economy can be seen as the keystone of economic life. For a better understanding of the essence of the monetary phenomena it is especially important to turn to history and see how money was born. By turning to their origins, we discover the real fundaments of monetary issues. Only after such a systematic analysis we will be able to suggest the appropriate solutions for the current monetary issues. Therefore, in this study I will research t...
Narayana R. Kocherlakota
This paper considers four models in which immortal agents face idiosyncratic shocks and trade only a single risk-free asset over time. The four models specify this single asset to be private bonds, public bonds, public money, or private money respectively. I prove that, given an equilibrium in one of these economies, it is possible to pick the exogenous elements in the other three economies so that there is an outcome-equivalent equilibrium in each of them. (The term ?exogenous variables? ref...
Federal Deposit Insurance Corp., Washington, DC.
This module on how to keep track of one's money is one of ten in the Money Smart curriculum, and includes an instructor guide and a take-home guide. It was developed to help adults outside the financial mainstream enhance their money skills and create positive banking relationships. It is designed to enable participants to prepare a personal…
Using 1972-2000 data from the Consumer Expenditure Survey (CES), a nationally representative survey of spending conducted by the Bureau of Labor Statistics, this paper investigates changes in the income-based gap in monetary investments in children under the age of six, when most children typically have entered school in the United States. The…
Tepe, Markus; Vanhuysse, Pieter
of the large-scale arrival of such risks 'on the ground' does play a key role. Countries that entered the postindustrial society comparatively late record lower NSRS values, as they spend less on programs such as education and family allowances. Institutional differences as captured by welfare regime type...
In 2011 and 2012, two Australian university vice chancellors flagged spending cuts at their institutions to overcome financial problems. In both cases, union and staff opposition led to public protests, intense media scrutiny, delays and retreats. This article compares the two cases to see what lessons may be drawn for university leaders faced…
Sunoo, D. H.; Lin, Lynn Y. S.
To assess the relationship between advertising and consumer promotion and to determine the optimal short-term advertising spending level for a product, a research project was undertaken by a major food manufacturer. One thousand homes subscribing to a dual-system cable television service received either no advertising exposure to the product or…
The aim of this paper is to analyze the new model of centralization of purchases in Italy after the approval of the 2016 Stability Law, with particular reference to the health sector. In fact, the spending review process in Italy in the health sector has had a strong evolution with the 2016 Stability Law, which has introduced the obligation for the institutions of the National Health Service to obtain supplies, exclusively, from aggregators subjects, for certain product categories of the health sector. The legislature, over the years, was mainly characterized by measures to reduce the spending limits for purchases of goods and services or by resetting the fees, including the provision of an obligation for the renegotiation of health goods and services contracts, in order to ensure the effective implementation of the expenditure rationalization by aggregation of goods and services. From 2016, the legislature has provided an innovative model of centralization of purchases based on a new network governance model on several levels, national and regional, which should ensure an efficiency of procurement processes. The proper functioning of the governance model adopted can be an important driver of economic policy in order to understand that it is important not only to spend less, but to spend better. This can be realized in the public administration with a strong innovation process in this administration and also with a strong investment in skills, in order to ensure the same service quality throughout the national territory to the health sector.
ConnCAN's Spend Smart: "Fix Our Broken School Funding System" was released concurrently with a bill introduced in the Connecticut legislature, based on the principles outlined in the report. However, the report is of negligible value to the policy debate over Connecticut school finance because it provides little or no support for any of…
Wagner, Petra; Schober, Barbara; Spiel, Christiane
The paper presents three studies which deal with the time students spend working at home for school. In addition, the paper focuses on the distribution of time investment over the course of a week and on the relationship between academic achievement and time spent working at home for school. In sum, 824 students with an average age of 15 years…
Health spending, illicit financial flows and tax incentives in Malawi. B O'Hare, M Curtis. Abstract. This analysis examines the gaps in health care financing in Malawi and how foregone taxes could fill these gaps. It begins with an assessment of the disease burden and government health expenditure. Then it analyses the tax ...
Full Text Available This paper begins by referring to the research which distinguishes two different aspects of subjective well-being, namely 1. experiences of happiness – measured by frequency and intensity of joy, stress, anger, worry and sadness we experience at a certain moment and 2. life satisfaction. Survey shows that beyond an annual household income of $75 000 there is no increase in the experiences of happiness. The paper then refers to the psychological mechanisms and factors – namely hedonic adaptation, social comparison and stress as a result of a raise – that lower the capacity of money to buy us the experiences of happiness. Not only we get quickly used to the things we buy, money also puts us into stressful situations and makes us build barriers between people. The paper then specifies strategies of economic decision-making that contribute to the maximization of happiness, such as purchase of the experiences instead of the things, interrupted and postponed consumption, or prosocial spending. The research indicates that prosocial spending has higher causal impact on promoting happiness than personal spending. As a matter of fact, this phenomenon is not culturally limited to the West. Concluding assertion – expressed only in the form of hypothesis – says that prosocial spending which is a form of prosocial behavior strengthens – through production of happiness – mutual relations in the society (cooperation.
5. augustil kinnitas Läti Esimene Partei/Läti Tee parlamendivalimiste valimisplatvormi, mille peamine mõte seisneb selles, et raha tuleb teenida, mitte säästa. Zatlersi Reformierakond on samuti oma valimisplatvormi kinnitanud
McConnell, Scott L. B.
This dissertation contributes to heterodox economics by developing a theoretical and policy-relevant link that will promote the conservation of energy while driving the value of the domestic currency. The analysis relies upon the theoretical foundation of modern money theory and functional finance, which states that "taxes-drive-money" where the value of a sovereign nation's currency is imputed through the acceptance by the sovereign nation of the currency in payment of taxation. This theoretical perspective lends itself to various public policy prescriptions, such as government employment policies or the employer of last resort (ELR), which has been discussed at length elsewhere (Wray 1998; Tcherneva 2007, Forstater 2003). This research contributes to this overall program by arguing that the basis for taxation under modern money theory allows public policy makers various alternatives regarding the make-up of the tax system in place. In particular, following functional finance, taxes do not have the sole purpose of paying for government spending, but rather drive the value of the currency and may be designed to perform other functions as well, such as penalizing socially undesirable behavior. The focus in this dissertation is on the amelioration of pollution and increasing energy conservation. The research question for this dissertation is this: what federally implemented tax would best serve the multiple criteria of 1) driving the value of the currency, 2) promoting energy conservation and 3) ameliorating income and wealth disparities inherent in a monetary production economy? This dissertation provides a suggestion for such a tax that would be part of a much larger overall policy program based upon the tenets of modern money theory and functional finance. Additionally, this research seeks to provide an important theoretical contribution to the emerging Post Keynesian and ecological economics dialog.
Full Text Available The paper depicts the history of using money in Montenegro covering the period before the Christ until nowadays. Montenegro mostly used foreign currencies throughout its long history, these being Roman, Austro-Hungarian, Turkish, Venetian, and even the Napoleon (French gold coin money. The first ideas for Montenegro’s own money came from the Bishop Petar Petrovic Njegoš in the 19th century. The first Montenegrin money, the Perper, was minted in 1906. The King Nikola`s Decree as of 11 April 1906 authorized the Ministry of Finance to mint the nickel and bronze coins. Silver and gold coins were minted later. The Perper disappeared from the scene with Montenegro’s joining the Kingdom of Serbs, Croats and Slovenes, putting into circulation the Dinar, a currency of the newly established state. Montenegro, being a part of the Socialist Federal Republic of Yugoslavia, used the Dinar as its currency after World War II until 1999. Dual currency system consisting of the German Mark and the Dinar was introduced in late 1999, whereby the German Mark became the only legal tender in 2001. With the introduction of the Euro the German Mark was replaced and the Euro became the official means of payment.
Lai, Ching-chong; Chang, Juin-jen; Kao, Ming-ruey
The authors propose a pedagogical apparatus embodying a solid micro-foundation with emphasis on the public's choice between currency and demand deposits being an optimal decision. On the basis of the pedagogical exposition, the authors explain how money supply is related to the combined behaviors of the central bank, commercial banks, and the…
U.S. Food and Drug Administration (FDA) website. Saving money on prescription drugs. www.fda.gov/Drugs/EmergencyPreparedness/BioterrorismandDrugPreparedness/ucm134215.htm . Updated May 4, 2016. Accessed October 14, 2016. U.S. Food and Drug ...
Money laundering has been studied for many years, but mainly by lawyers and criminologists. This dissertation presents a number of ways on how an economist – mainly in a multidisciplinary fashion – can contribute to this field of research. This dissertation answers four important questions about
Nielsen, Heino Bohn
This paper performs a multivariate cointegration analysis of UK money demand 1873-2001, and illustrates how a long-run time series analysis may be conducted on a data set characterized by turbulent episodes and institutional changes. We suggest accounting for the effects of the two world wars...
Brueckner, M.; Schabert, A.
In this paper it is shown that money can matter for macroeconomic stability under interest rate policy when transactions frictions are non-negligible. We develop a sticky price model with a shopping time function, which induces the marginal utility of consumption to depend on the (predetermined)
Full Text Available In this paper we will clarify the issues related to: the emergence of money - their functions and varieties, the specificity of their demand and supply and the main aspects of the monetary policy of the state with its effects on the economic development.
Jun 20, 2017 ... The Prospera Digital e-banking program aims to put money in the hands of Mexico's low-income women with just a few taps — and transform their lives in the process. This article is part of an ongoing series of stories about innovative projects in the developing world, a partnership between IDRC and ...
Wallis, Joanne; Dalsgaard, Steffen
Island, on domestic affairs in PNG, and on the relationship between PNG and Australia. Overall, it concludes that the costs arising from the money, manipulation and misunderstanding generated by the centre seem likely to outweigh the purported benefits, particularly for Manusians and other ordinary Papua...
Baran, Nancy H., Ed.; Tarrant, Sharon M., Ed.
This booklet on recreation, 1 in a series of 12, covers all the basic aspects of personal- and family-money management. Suitable for use by high school and college students as well as adults, this handbook suggests ways to plan recreation expenses for special activities, equipment, and vacation travel. Section 1 looks at the need for recreation…
Financial Markets Department
Throughout fiscal 2007, the Bank of Japan conducted money market operations with the uncollateralized overnight call rate as the operating target. The target level for the uncollateralized overnight call rate remained at "around 0.5 percent" throughout all of fiscal 2007. During this period, the basic loan rate applied to the complementary lending facility was 0.75 percent.
Being money smart has value that offers individuals skills for a lifetime. "Lawmakers had no way of knowing in 2007 that the U. S. economic situation would be where it is today, making financial education for students now even more crucial than at any other time in recent history" (Black, 2009, p. 1). According to Beverly & Burkhalter (2005, p.…
Hill, Andrew T.
Children's economic reasoning follows a developmental sequence in which their ideas about money and other basic economic concepts are forming. Even children in the early primary grades can learn some basic economics and retain understanding of economic concepts if they are taught in developmentally appropriate ways. Given how important economic…
Matope, Jasmine; Badroodien, Azeem
This article draws from a qualitative research project completed at Victoria High School (pseudonym) in Cape Town in 2012 which explored 13 learners' perspectives of achievement and its influence on their lives and thinking. The piece problematises and analyses taken-for-granted connections between money, achievement, youth aspirations and views…
The author points out the multifaceted aspects of the problems associated with rural women's need for money and financial services and outlines innovative schemes in this area such as the bank for the landless in Bangladesh, a savings and loan cooperative for market women in Nicaragua, and a savings development movement in Zimbabwe. (CT)
Money laundering was stipulated as an offense by Chinese criminal law more than 10 years ago. However, the judicial situation is such that no one has yet been prosecuted for it. This article describes the phenomena that are closely related to money laundering, namely the current situation of the predicate offences and other factors conducive to money laundering such as corruption, underground bank shops, and shell companies. Based on these facts, the article infers that money laundering is a real problem in China. Then it explores the reasons why case examples of money laundering are not available. Finally, this article presents some of the factors necessary in the investigation of money laundering.
Mesfin, WF; Ghinea, G; Atnafu, S
In developing countries, although money is becoming digital in the form of mobile money, it is not easily used by millions of illiterate users in their everyday transactions. Digitization of material money thus poses a challenge to many users. Existing mobile money systems and platforms represent money in terms of simple numbers, like 13, 50, 0.78, 23.64, 80 etc. This way of money representation is almost unusable by illiterate users, unless they depend on others' help. The literature has ove...
Martinez, Ignacio; Turner, Sarah
The Pell grant program is the largest source of need-based federal financial aid available to low-income students, currently providing a maximum of $5500 in grants to undergraduate students. The program is a major investment of public money, and policymakers have a responsibility to ensure that the investment yields results. Because low-income…
Hahn, Cheryl; Wilson, Timothy D; McRae, Kaichen; Gilbert, Daniel T
Do people take risks to obtain rewards or experience suspense? We hypothesized that people vulnerable to gambling are motivated more by the allure of winning money whereas people less vulnerable to gambling are motivated more by the allure of suspense. Consistent with this hypothesis, participants with high scores on a subscale of the Gambling Attitudes and Beliefs Survey--a measure of vulnerability to gambling--reported more of a motivation to earn money (pilot study), were more likely to accept a certain or near-certain amount of money than to gamble for that same amount (Studies 1-2), and worked harder to earn money (Study 3). People vulnerable to gambling also made more accurate predictions about how much they would gamble. People less vulnerable to gambling, in contrast, gambled more than people vulnerable to gambling, but did not know that they would.
In this paper, we analyze the process of money creation in a credit economy. We start from the consideration that the traditional money multiplier is a poor description of this process and present an alternative and dynamic approach that takes into account the heterogeneity of agents in the economy and their interactions. We show that this heterogeneity can account for the instability of the multiplier and that it can make the system path-dependent. By using concepts and techniques borrowed f...
Xing, Xiaoyun; Xiong, Wanting; Chen, Liujun; Chen, Jiawei; Wang, Yougui; Stanley, H. Eugene
Both money and debt are products of credit creation of banks. Money is always circulating among traders by facilitating commodity transactions. In contrast, debt is created by borrowing and annihilated by repayment as it is matured. However, when this creation- annihilation process is mediated by banks which are constrained by a credit capacity, there exists continuous transfer of debt among debtors, which can be defined as debt circulation. This paper presents a multi-agent model in which in...
Creation and proper functioning of the money market in Romania is subject to a preponderant constancy of private property, to support competition as a factor increasing the efficiency of the economy. Appearance money market in Romania is related to the transformations that have manifested in our country since 1989. As a mechanism of market economy, can not talk about them in existence before 1989. In a centralized economy, instruments, financial categories have ceased to reflect the actual si...
Chu V. Nguyen
Full Text Available The asymmetric, cointegrating relationship between the return on equity market and the narrowly defined money supply is documented. In fact, equity return and the monthly percentage change in the Colombian money supply M1 spread adjusts to the threshold value slower when a contractionary countercyclical policy action or an economic shock causes the money supply M1 to fall relative to the share price index, widening their spread, than when an expansionary countercyclical monetary policy action or a shock causes money supply M1 to move in the opposite direction, narrowing their spread. The empirical findings further indicate the impact lag on the Colombian monetary policy in the equity market is two years. These empirical findings should be of interest to both domestic and international investors who are interested in the Colombian equity market. The results also reveal the presence of both the neoclassical and the post-Keynesian positions on the relationship between equity return and money supply M1 in the Colombian financial market. In the age of globalization, these findings may provide a better understanding of the impact of the countercyclical monetary policy on the equity market in Latin American economies.
Fafard St-Germain, Andrée-Anne; Tarasuk, Valerie
Food insecurity is a potent determinant of health and indicator of material deprivation in many affluent countries. Food insecurity is associated with compromises in food and housing expenditures, but how it relates to other expenditures is unknown. The present study described households' resource allocation over a 12-month period by food insecurity status. Expenditure data from the 2010 Survey of Household Spending were aggregated into four categories (basic needs, other necessities, discretionary, investments/assets) and ten sub-categories (food, clothing, housing, transportation, household/personal care, health/education, leisure, miscellaneous, personal insurance/pension, durables/assets). A four-level food insecurity status was created using the adult-specific items of the Household Food Security Survey Module. Mean dollars spent and budget share by food insecurity status were estimated with generalized linear models adjusted first for household size and composition, and subsequently for after-tax income quartiles. Canada. Population-based sample of households from the ten provinces (n 9050). Food-secure households had higher mean total expenditures than marginally, moderately and severely food-insecure households (P-trend insecurity increased, households spent less on all categories and sub-categories, except transportation, but they allocated a larger budget share to basic needs and smaller shares to discretionary spending and investments/assets. The downward trends for dollars spent on basic needs and other necessities became non-significant after accounting for income, but the upward trend in the budget shares for basic needs persisted. The spending patterns of food-insecure households suggest that they prioritized essential needs above all else.
Stuppy-Sullivan, Allison M; Tormohlen, Kayla N; Yi, Richard
Evidence that primary rewards (e.g., food and drugs of abuse) are discounted more than money is frequently attributed to money's high degree of liquidity, or exchangeability for many commodities. The present study provides some evidence against this liquidity hypothesis by contrasting delay discounting of monetary rewards (liquid) and non-monetary commodities (non-liquid) that are self-relevant and utility-matched. Ninety-seven (97) undergraduate students initially completed a conventional binary-choice delay discounting of money task. Participants returned one week later and completed a self-relevant commodity delay discounting task. Both conventional hypothesis testing and more-conservative tests of statistical equivalence revealed correspondence in rate of delay discounting of money and self-relevant commodities, and in one magnitude condition, less discounting for the latter. The present results indicate that liquidity of money cannot fully account for the lower rate of delay discounting compared to non-money rewards. Copyright © 2015 Elsevier B.V. All rights reserved.
Tanklevska Nataliya S.
Full Text Available Essence of the definition of «money flow» of enterprise has been researched. The theoretical basis for the formation of money flows of enterprise, including the developments by mercantilists, marxists, monetarists, and contemporaries has been systematized. Cycles of the money flow and its relationship to the circulation of economic means have been characterized. The money flow discounting factors have been determined, which include inflation, risk, and alternativeness of investment process. The economic, political, social, and techno-economic risks that impact the management of money flows of enterprise have been allocated. The classification of money flows of enterprises by various attributes has been provided. The main sources of formation and modalities of the optimal money flow structure of enterprise have been determined. The advantages and disadvantages of using financial resources to generate money flows of enterprise have been characterized.
increasing attention in the field of monetary and financial economics in recent ... Various assertion has been downplaying the position of money in an economy, ... To determine the impact of inflation on the level of Money Supply in Nigeria.
Topor, Alain Pierre; Ljungqvist, Ingemar
During a 9-month period, 100 persons with SMI were given approx. 73 USD per month above their normal income. Sixteen of the subjects were interviewed. The interviews were analysed according to the methods of thematic analysis. The money was used for personal pleasure and to re-establish reciprocal relations to others. The ways in which different individuals used the money at their disposal impacted their sense of self through experiences of mastery, agency, reciprocity, recognition and securi...
Spending for new or upgraded supervisory control and data acquisition (scada) systems and for additional remote-terminal units (RTUs) by North American pipelines and utilities will exceed $165 million through February 1996. New and updated scada systems will total 122 at a cost of more than $127 million; 143 RTU add-on projects will cost more than $38 million. Pipelines and combined utilities/pipelines will spend $89.5 million for 58 scada-system projects and $30.2 million for RTU add-on projects. Scada systems are computerized hardware and software systems that perform monitoring and control functions. In gas utilities, these systems perform functions normally associated with gas transmission and distribution as well as production-plant process control. In gas and oil pipelines, the systems perform these functions as well as such specialized functions as batch tracking, leak detection, and gas load flow
Smithies, R; Steeves, L
Flexible benefits plans have grown more slowly in Canada than in the United States, largely because of certain legal and regulatory considerations. Health care spending accounts (HCSAs) provide a cost-effective way for Canadian employers to address the health care benefit needs of a diverse workforce. A flexible health care spending account is a versatile and cost-effective instrument that can be used by Canadian employers that wish to provide a full range of health care benefits to employees. The health care alternatives available through an HCSA can provide employees with an opportunity to customize and optimize their benefits program. Regulatory requirements that an HCSA must meet in order to qualify for available tax advantages are discussed, as are the range of health care services that may be covered.
Stefano DellaVigna; Ruben Durante; Brian Knight; Eliana La Ferrara
An extensive literature has studied lobbying by special interest groups. We analyze a novel lobbying channel: lobbying businessmen-politicians through business proxies. When a politician controls a business, firms attempting to curry favors shift their spending towards the politician's business. The politician benefits from increased revenues, and the firms hope for favorable regulation in return. We investigate this channel in Italy where government members, including the prime minister, are...
Brady, Eoghan S; Leider, Jonathon P; Resnick, Beth A; Alfonso, Y Natalia; Bishai, David
Government public health expenditure data sets require time- and labor-intensive manipulation to summarize results that public health policy makers can use. Our objective was to compare the performances of machine-learning algorithms with manual classification of public health expenditures to determine if machines could provide a faster, cheaper alternative to manual classification. We used machine-learning algorithms to replicate the process of manually classifying state public health expenditures, using the standardized public health spending categories from the Foundational Public Health Services model and a large data set from the US Census Bureau. We obtained a data set of 1.9 million individual expenditure items from 2000 to 2013. We collapsed these data into 147 280 summary expenditure records, and we followed a standardized method of manually classifying each expenditure record as public health, maybe public health, or not public health. We then trained 9 machine-learning algorithms to replicate the manual process. We calculated recall, precision, and coverage rates to measure the performance of individual and ensembled algorithms. Compared with manual classification, the machine-learning random forests algorithm produced 84% recall and 91% precision. With algorithm ensembling, we achieved our target criterion of 90% recall by using a consensus ensemble of ≥6 algorithms while still retaining 93% coverage, leaving only 7% of the summary expenditure records unclassified. Machine learning can be a time- and cost-saving tool for estimating public health spending in the United States. It can be used with standardized public health spending categories based on the Foundational Public Health Services model to help parse public health expenditure information from other types of health-related spending, provide data that are more comparable across public health organizations, and evaluate the impact of evidence-based public health resource allocation.
Ozisik, A. Pinar; Levine, Brian Neil
The fundamental attack against blockchain systems is the double-spend attack. In this tutorial, we provide a very detailed explanation of just one section of Satoshi Nakamoto's original paper where the attack's probability of success is stated. We show the derivation of the mathematics relied upon by Nakamoto to create a model of the attack. We also validate the model with a Monte Carlo simulation, and we determine which model component is not perfect.
Erniel B. Barrios
A growth model is used in the context of Sala-i-Martin’s definition of conditional convergence to assess the household income dynamics in segmented groups at the provincial level in the Philippines. There is a direct relationship between spending efficiency and income growth convergence across income groups. The lower income convergence rate among low income households can be attributed to their relatively less efficient access to the factors of production. The study provides tools in identif...
child tax credits (which are refundable), the Supplemental Nutrition Assistance Program (SNAP), and Supplemental Security Income. The largest non...child tax credits, and SNAP—have been or will be significantly affected by program changes that unfold over time: B Medicaid spending rose by 35...total outlays in the Part D program). Increases in the number of beneficiaries account for about one- third of that growth; the introduction of new
BEREZANSKY V.V.; CHALDAEVA L.A.; KILYACHKOV A.A.
Manipulating the banking system for purposes of money laundering is a relatively new phenomenon. This problem was first identified in 1986 in the United States, when it was classified as a criminal offense. In Russia, anti-money laundering measures are regulated with Federal Law No. 115-FZ On Counteracting Money Laundering and the Financing of Terrorism (7 August 2001, as amended). Given the high-speed, digitized nature of banking transactions, the technology for countering money laundering s...
Gunji, Hiroshi; Miyazaki, Kenji
In this paper, we study the effect of conventional interest rate policy, quantitative easing and the reserve accounts’ interest rate on the money stock in an industrial-organization model of the banking industry with money creation. Our main findings are as follows. First, under a plausible setting of the parameters, the model with money creation supports the liquidity puzzle, in which tight monetary policy increases the money stock. Second, quantitative monetary easing has a similar effect. ...
C. C. Huang; M. S. Amirrudin; N. A. Ahamad Noruddin; R. Othman
Anti-money laundering is commonly recognized as a set of procedures, laws or regulations designed to reduce the practice of generating income through illegal actions. In Malaysia, the government and law enforcement agencies have stepped up their capacities and efforts to curb money laundering since 2001. One of these measures was the enactment of the Anti-Money Laundering Act (AMLA) in 2001. The implementation costs on anti-money laundering requirements (AMLR) can be burd...
Chiang, Chun-Wei; Anderson, Caroline; Flores-Saviaga, Claudia; Arenas, Eduardo Jr; Colin, Felipe; Romero, Mario; Rivera-Loaiza, Cuauhtemoc; Chavez, Norma Elva; Savage, Saiph
Mobile money can facilitate financial inclusion in developing countries, which usually have high mobile phone use and steady remittance activity. Many countries in Latin America meet the minimum technological requirements to use mobile money, however, the adoption in this region is relatively low. This paper investigates the different factors that lead people in Latin America to distrust and therefore not adopt mobile money. For this purpose, we analyzed 27 mobile money applications on the ma...
Xi, Ning; Ding, Ning; Wang, Yougui
In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. It is shown that monetary wealth follows asymmetric Laplace distribution and latency time of money fo...
Palley, Thomas I.
This paper uses the occasion of the twenty-fifth anniversary of Basil Moore’s book, Horizontalists and Verticalists, to reassess the theory of endogenous money. The paper distinguishes between horizontalists, verticalists, and structuralists. It argues Moore’s horizontalist representation of endogenous money was an over-simplification that discarded important enduring insights from monetary theory. The structuralist approach to endogenous money retains the basic insight that the money supply ...
Full Text Available This article aims to provide direct empirical evidence on business cycle relations between government spending and economic growth in the Czech Republic. Government spending plays an important role in a fiscal policy as a possible automatic stabilizer. We analyzed annual data on government spending in compliance with the COFOG international standard. We use cross-correlation on cyclically filtered adjusted time series over the period 1995–2008. The cyclical properties of GDP and government spending function were, in average, found as weakly correlated. However, we report considerable differences in correlations across the spending functions. The lowest correlation coefficient (0.06 was found for recreation, culture and religion and the highest average was reported for economic affairs (−0.51. As regards to using government spending as the stabilizer, total government spending, general public services, defense, economic affairs and education spending were negative correlated and it confirms countercyclical relation between these spending functions and GDP. It is in line with theory suggestion. On the other hand, the highest spending function (social protection correlated weak positive and it expresses procyclical development.The results of Johansen cointegration test proved the existence of long-run relationship between GDP and total government spending, GDP and public order and safety spending and GDP and economic affairs spending.
Hawelka, Bartosz; Murillo Arias, Juan; Ratti, Carlo
Scientific studies of society increasingly rely on digital traces produced by various aspects of human activity. In this paper, we exploit a relatively unexplored source of data–anonymized records of bank card transactions collected in Spain by a big European bank, and propose a new classification scheme of cities based on the economic behavior of their residents. First, we study how individual spending behavior is qualitatively and quantitatively affected by various factors such as customer’s age, gender, and size of his/her home city. We show that, similar to other socioeconomic urban quantities, individual spending activity exhibits a statistically significant superlinear scaling with city size. With respect to the general trends, we quantify the distinctive signature of each city in terms of residents’ spending behavior, independently from the effects of scale and demographic heterogeneity. Based on the comparison of city signatures, we build a novel classification of cities across Spain in three categories. That classification exhibits a substantial stability over different city definitions and connects with a meaningful socioeconomic interpretation. Furthermore, it corresponds with the ability of cities to attract foreign visitors, which is a particularly remarkable finding given that the classification was based exclusively on the behavioral patterns of city residents. This highlights the far-reaching applicability of the presented classification approach and its ability to discover patterns that go beyond the quantities directly involved in it. PMID:26849218
Sobolevsky, Stanislav; Sitko, Izabela; Tachet des Combes, Remi; Hawelka, Bartosz; Murillo Arias, Juan; Ratti, Carlo
Scientific studies of society increasingly rely on digital traces produced by various aspects of human activity. In this paper, we exploit a relatively unexplored source of data-anonymized records of bank card transactions collected in Spain by a big European bank, and propose a new classification scheme of cities based on the economic behavior of their residents. First, we study how individual spending behavior is qualitatively and quantitatively affected by various factors such as customer's age, gender, and size of his/her home city. We show that, similar to other socioeconomic urban quantities, individual spending activity exhibits a statistically significant superlinear scaling with city size. With respect to the general trends, we quantify the distinctive signature of each city in terms of residents' spending behavior, independently from the effects of scale and demographic heterogeneity. Based on the comparison of city signatures, we build a novel classification of cities across Spain in three categories. That classification exhibits a substantial stability over different city definitions and connects with a meaningful socioeconomic interpretation. Furthermore, it corresponds with the ability of cities to attract foreign visitors, which is a particularly remarkable finding given that the classification was based exclusively on the behavioral patterns of city residents. This highlights the far-reaching applicability of the presented classification approach and its ability to discover patterns that go beyond the quantities directly involved in it.
Full Text Available Scientific studies of society increasingly rely on digital traces produced by various aspects of human activity. In this paper, we exploit a relatively unexplored source of data-anonymized records of bank card transactions collected in Spain by a big European bank, and propose a new classification scheme of cities based on the economic behavior of their residents. First, we study how individual spending behavior is qualitatively and quantitatively affected by various factors such as customer's age, gender, and size of his/her home city. We show that, similar to other socioeconomic urban quantities, individual spending activity exhibits a statistically significant superlinear scaling with city size. With respect to the general trends, we quantify the distinctive signature of each city in terms of residents' spending behavior, independently from the effects of scale and demographic heterogeneity. Based on the comparison of city signatures, we build a novel classification of cities across Spain in three categories. That classification exhibits a substantial stability over different city definitions and connects with a meaningful socioeconomic interpretation. Furthermore, it corresponds with the ability of cities to attract foreign visitors, which is a particularly remarkable finding given that the classification was based exclusively on the behavioral patterns of city residents. This highlights the far-reaching applicability of the presented classification approach and its ability to discover patterns that go beyond the quantities directly involved in it.
The theory of money supply is less developed than that of money demand, largely because 19th-century economists believed that money was unimportant and because they viewed the central bank as either an appendage to the economy or as a welfare-maximizing black box. The paper reviews each of these beliefs in turn.
... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalty assessment. 500.143 Section 500.143... MIGRANT AND SEASONAL AGRICULTURAL WORKER PROTECTION Enforcement § 500.143 Civil money penalty assessment. (a) A civil money penalty may be assessed for each violation of the Act or these regulations. (b) In...
Money laundering is the disguising of the illegal origin of money by bringing it back into the legal financial circuit. Therefore, in this dissertation I try to establish a theoretical framework to understand the role of social networks, and the link between criminals and legal actors in the money
Ferwerda, J.|info:eu-repo/dai/nl/314405526; Kattenberg, M.A.C.|info:eu-repo/dai/nl/357208986; Chang, H.-S.; Unger, B.|info:eu-repo/dai/nl/290994926; Groot, L.F.M.|info:eu-repo/dai/nl/073642398; Bikker, J.A.|info:eu-repo/dai/nl/06912261X
Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is tradebased money laundering (TBML), a special form of trade
Ferwerda, Joras|info:eu-repo/dai/nl/314405526; Kattenberg, Marc|info:eu-repo/dai/nl/357208986; Chang, Han-Hsin|info:eu-repo/dai/nl/357209370; Unger, Brigitte|info:eu-repo/dai/nl/290994926; Groot, Loek|info:eu-repo/dai/nl/073642398; Bikker, Jaap|info:eu-repo/dai/nl/06912261X
Several attempts have been made in the economics literature to measure money laundering. However, the adequacy of these models is difficult to assess, as money laundering takes place secretly and, hence, goes unobserved. An exception is trade-based money laundering (TBML), a special form of trade
... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalties-assessment. 801.42 Section 801.42... APPLICATION OF THE EMPLOYEE POLYGRAPH PROTECTION ACT OF 1988 Enforcement § 801.42 Civil money penalties—assessment. (a) A civil money penalty in an amount not to exceed $10,000 for any violation may be assessed...
The paper estimated dynamic demand for money (Currency) function for Pakistan. it is concluded that in the long run money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits emerged as important determinant of money demand in the short run. Moreover dynamic model remans stable througtout the study period.
Deze paper bevat een verkorte beschrijving van de Nakamoto architectuur voor informational money, een positionering van Bitcoin, een "money-like informational commodity", als een verschijningsvorm van iGoud, en een bespiegeling over de vraag hoe hoe informational money het einde van Gewoon Geld in
... workers. (c) A civil money penalty for each violation of the work contract or a requirement of 8 U.S.C..., with the following exceptions: (1) A civil money penalty for each willful violation of the work... 29 Labor 3 2010-07-01 2010-07-01 false Civil money penalty assessment. 501.19 Section 501.19 Labor...
... IMMIGRATION AND NATIONALITY ACT (SUSPENDED 6-29-2009) Enforcement of Work Contracts § 502.19 Civil money... money penalty for violation of the work contract will not exceed $1,000 for each violation committed... of the work contract, or for willful discrimination, the civil money penalty shall not exceed $5,000...
... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Payment of civil money penalty. 622.60 Section... Rules and Procedures for Assessment and Collection of Civil Money Penalties § 622.60 Payment of civil money penalty. (a) Payment date. Generally, the date designated in the notice of assessment for payment...
... 42 Public Health 4 2010-10-01 2010-10-01 false Civil money penalties. 460.46 Section 460.46 Public...) Sanctions, Enforcement Actions, and Termination § 460.46 Civil money penalties. (a) CMS may impose civil money penalties up to the following maximum amounts: (1) For each violation regarding enrollment or...
... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Cost of money. 1631.205-10... AND PROCEDURES Contracts With Commercial Organizations 1631.205-10 Cost of money. For the purposes of FAR 31.205-10(b)(3), the estimated facilities capital cost of money is specifically identified if it...
... 42 Public Health 4 2010-10-01 2010-10-01 false Amounts of civil money penalties. 438.704 Section... SERVICES (CONTINUED) MEDICAL ASSISTANCE PROGRAMS MANAGED CARE Sanctions § 438.704 Amounts of civil money penalties. (a) General rule. The limit on, or the maximum civil money penalty the State may impose varies...
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Civil money penalties. 908.6 Section 908.6... Proceedings § 908.6 Civil money penalties. (a) Notice of assessment—(1) Grounds. The Finance Board may issue and serve a notice of assessment of a civil money penalty on any Bank or any executive officer or...
... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Civil money penalties. 509.103 Section 509.103... PROCEDURE IN ADJUDICATORY PROCEEDINGS Local Rules § 509.103 Civil money penalties. (a) Assessment. In the... may serve an order of assessment of civil money penalty upon the party concerned. The assessment order...
...] RIN 2501-AD59 Inflation Adjustment of Civil Money Penalty Amounts AGENCY: Office of the Secretary, HUD. ACTION: Final rule. SUMMARY: This final rule amends HUD's civil money penalty and civil penalty... outdated cross-reference in its civil money penalty regulations. DATES: Effective Date: February 19, 2013...
... 42 Public Health 1 2010-10-01 2010-10-01 false Civil money penalties. 73.21 Section 73.21 Public... SELECT AGENTS AND TOXINS § 73.21 Civil money penalties. (a) The Inspector General of the Department of Health and Human Services is delegated authority to conduct investigations and to impose civil money...
... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Civil money penalties. 1250.3 Section 1250.3 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTERPRISES FLOOD INSURANCE § 1250.3 Civil money... to § 1250.2, the Director of FHFA, or his or her designee, may assess civil money penalties against...
... 42 Public Health 5 2010-10-01 2010-10-01 false Civil money penalty. 493.1834 Section 493.1834... (CONTINUED) STANDARDS AND CERTIFICATION LABORATORY REQUIREMENTS Enforcement Procedures § 493.1834 Civil money... Secretary to impose civil money penalties on laboratories. Section 1846(b)(3) of the Act specifically...
Wright, Joan; Varcoe, Karen
Because money management is often a problem for lower-level military personnel, a resource management educational program called Money Sense was started by the University of California Cooperative Extension at Edwards Air Force Base in 1985. Volunteers for Money Sense were recruited at the base; they attended eight sessions on teaching techniques…
Wood, Rachel Godfrey
Developed countries have pledged billions of dollars a year to help poor nations adapt to climate change. But how should the money be spent? For the world's poor, who are both the most vulnerable to climate change and the most in need of social protection, the best answer may be cash transfer programmes. Giving money out in this way has a strong track record in reaching the poor and helping them improve their nutrition, education and incomes — all of which are vital for building their long-term capacity to adapt to climate change. Cash transfers are also well accepted at the local level and, given the right political backing, can be implemented on a broad scale.
Viaggiu, Stefano; Lionetto, Andrea; Bargigli, Leonardo; Longo, Michele
We build a statistical ensemble representation of two economic models describing respectively, in simplified terms, a payment system and a credit market. To this purpose we adopt the Boltzmann-Gibbs distribution where the role of the Hamiltonian is taken by the total money supply (i.e. including money created from debt) of a set of interacting economic agents. As a result, we can read the main thermodynamic quantities in terms of monetary ones. In particular, we define for the credit market model a work term which is related to the impact of monetary policy on credit creation. Furthermore, with our formalism we recover and extend some results concerning the temperature of an economic system, previously presented in the literature by considering only the monetary base as a conserved quantity. Finally, we study the statistical ensemble for the Pareto distribution.
Full Text Available We estimate risk premia in the Czech money market and we pay special attention to the 2008-2009 crisis period. Our results imply a rising forward premium and we argue that the error correction model is the most appropriate method, but median may be used as a first guess estimator. We estimated the term premium between the policy rate and various money market interest rates. In this context, ARCH models proved to be useful in reflection of non-stationarity observed in the data. The financial crisis caused a structural break in our data sample, but the impact on the forward premium was only brief and forward premia normalized quickly. The widening of the term premium proved to be much more persistent, although it declined significantly since the peak of the crisis.
Bozzio, Mathieu; Orieux, Adeline; Trigo Vidarte, Luis; Zaquine, Isabelle; Kerenidis, Iordanis; Diamanti, Eleni
Wiesner's unforgeable quantum money scheme is widely celebrated as the first quantum information application. Based on the no-cloning property of quantum mechanics, this scheme allows for the creation of credit cards used in authenticated transactions offering security guarantees impossible to achieve by classical means. However, despite its central role in quantum cryptography, its experimental implementation has remained elusive because of the lack of quantum memories and of practical verification techniques. Here, we experimentally implement a quantum money protocol relying on classical verification that rigorously satisfies the security condition for unforgeability. Our system exploits polarization encoding of weak coherent states of light and operates under conditions that ensure compatibility with state-of-the-art quantum memories. We derive working regimes for our system using a security analysis taking into account all practical imperfections. Our results constitute a major step towards a real-world realization of this milestone protocol.
Full Text Available This paper intends to describe the process of money development, the advantages of using it digitally and the difficulties this process is facing. It is focused on the concept of e-purses or e-wallets, describing one of the most successful forms of digital money, the Octopus (Hong Kong based. Its main goal is to help those who wish to study this subject under a corporative strategy point of view. It presents the reasons that led to the development of the Octopus, the steps followed by the companies that manage it, the current situation and the future development perspectives. The paper presents some considerations on the opportunity of adopting other systems that are similar to the Octopus in highly populated areas, as well as the conditions required to its success.
Bartkiewicz, K.; Černoch, Antonín; Chimczak, G.; Lemr, K.; Miranowicz, A.; Nori, F.
Roč. 3, Mar (2017), s. 1-8, č. článku 7. ISSN 2056-6387 R&D Projects: GA ČR GAP205/12/0382 Institutional support: RVO:68378271 Keywords : experimental quantum forgery * quantum optical money Subject RIV: BH - Optics, Masers, Lasers OBOR OECD: Optics (including laser optics and quantum optics) Impact factor: 9.111, year: 2016
Money laundering took advantage of the increasing openness and expanding markets to improve their techniques, taking advantage of the vulnerability of the weaker countries. In an evolutionary perspective, we understand how this phenomenon has progressed and how countries and referenced organizations have an important role to play in its prevention. This crime was defined and framed in an evolutionary perspective, whether legislative, or jurisprudential doctrine in order to better understand t...
In Ref. , we proposed an analogy between the exponential Boltzmann-Gibbs distribution of energy in physics and the equilibrium probability distribution of money in a closed economic system. Analogously to energy, money is locally conserved in interactions between economic agents, so the thermal Boltzmann-Gibbs distribution function is expected for money. Since then, many researchers followed and expanded this idea . Much work was done on the analysis of empirical data, mostly on income, for which a lot of tax and census data is available. We demonstrated  that income distribution in the USA has a well-defined two-class structure. The majority of population (97-99%) belongs to the lower class characterized by the exponential Boltzmann-Gibbs (``thermal'') distribution. The upper class (1-3% of population) has a Pareto power-law (``superthermal'') distribution, whose parameters change in time with the rise and fall of stock market. We proposed a concept of equilibrium inequality in a society, based on the principle of maximal entropy, and quantitatively demonstrated that it applies to the majority of population. Income distribution in other countries shows similar patterns. For more references, see http://www2.physics.umd.edu/˜yakovenk/econophysics.html. References:  A. A. Dragulescu and V. M. Yakovenko, ``Statistical mechanics of money'', Eur. Phys. J. B 17, 723 (2000).  ``Econophysics of Wealth Distributions'', edited by A. Chatterjee, S. Yarlagadda, and B. K. Chakrabarti, Springer, 2005.  A. C. Silva and V. M. Yakovenko, ``Temporal evolution of the `thermal' and `superthermal' income classes in the USA during 1983-2001'', Europhys. Lett. 69, 304 (2005).
Developmental concerns and sociocultural expectations may keep female patients and therapists from addressing financial issues openly in group psychotherapy. Interpersonal theory provides a different view of nurturing that may help women leaders deal better with financial discussions in group. This paper includes a review of the literature on group psychotherapy and fees; feminist literature relevant to leadership; money management in group therapy; countertransference; and case examples.
The term “electronic money” first appeared in Czech legislation in 2002 as the result of the transposition of legislation into the Czech Republic’s legal system in anticipation of the country’s accession to the European Union. This term subsequently reappeared in 2009 during the recodification of the legal regulation of payment services, payment systems and electronic money. At this time, the definition was subjected to certain changes which continue to exert a significant infl...
Batikas, Michail; Claussen, Jörg; Peukert, Christian
Online copyright enforcement, in the form of either direct action against the supply- side (via website shutdowns) or the demand-side (via individual lawsuits against users), has not been very effective in reducing piracy. Regulators have therefore put forward the so called “follow the money" approach. Because the main source of revenue for infringing websites often comes from online advertising, the idea is that cutting access to advertisers could lower the financial incentives for website o...
Full Text Available The term “electronic money” first appeared in Czech legislation in 2002 as the result of the transposition of legislation into the Czech Republic’s legal system in anticipation of the country’s accession to the European Union. This term subsequently reappeared in 2009 during the recodification of the legal regulation of payment services, payment systems and electronic money. At this time, the definition was subjected to certain changes which continue to exert a significant influence on current practice with respect to the issuance and subsequent use of electronic money. This paper addresses the term “virtual money” and considers the mutual relationships between “electronic money”, “cashless money” and “virtual money” from the point of view of selected legal and economic approaches. The aim of the paper is to employ the analytical method in order to investigate selected legal and economic aspects of the various interpretations of the categories “electronic money”, “cashless money” and “virtual money”. A comparative analysis approach will be applied so as to ascertain both the legal and economic differences between these categories and general conclusions will be suggested employing the deduction method. The article is further concerned with the influence of these categories on the monetary base and money supply indicators.
Young, Carol S.
The primary purpose of this study was to investigate the relationship between marital satisfaction, agreement on money matters, and money management competence among married couples at Utah State University . A sample of 43 student couples responded to a written questionnaire designed to measure the three variables. On all three variables measured, high scores indicated that both spouses rated themselves high on marital satisfaction, agreement on money matters, and money management competence...
Comparable estimates of health spending are crucial for the assessment of health systems and to optimally deploy health resources. The methods used to track health spending continue to evolve, but little is known about the distribution of spending across diseases. We developed improved estimates of health spending by source, including development assistance for health, and, for the first time, estimated HIV/AIDS spending on prevention and treatment and by source of funding, for 188 countries. We collected published data on domestic health spending, from 1995 to 2015, from a diverse set of international agencies. We tracked development assistance for health from 1990 to 2017. We also extracted 5385 datapoints about HIV/AIDS spending, between 2000 and 2015, from online databases, country reports, and proposals submitted to multilateral organisations. We used spatiotemporal Gaussian process regression to generate complete and comparable estimates for health and HIV/AIDS spending. We report most estimates in 2017 purchasing-power parity-adjusted dollars and adjust all estimates for the effect of inflation. Between 1995 and 2015, global health spending per capita grew at an annualised rate of 3·1% (95% uncertainty interval [UI] 3·1 to 3·2), with growth being largest in upper-middle-income countries (5·4% per capita [UI 5·3-5·5]) and lower-middle-income countries (4·2% per capita [4·2-4·3]). In 2015, $9·7 trillion (9·7 trillion to 9·8 trillion) was spent on health worldwide. High-income countries spent $6·5 trillion (6·4 trillion to 6·5 trillion) or 66·3% (66·0 to 66·5) of the total in 2015, whereas low-income countries spent $70·3 billion (69·3 billion to 71·3 billion) or 0·7% (0·7 to 0·7). Between 1990 and 2017, development assistance for health increased by 394·7% ($29·9 billion), with an estimated $37·4 billion of development assistance being disbursed for health in 2017, of which $9·1 billion (24·2%) targeted HIV/AIDS. Between 2000 and
Karim, Zulkefly Abdul; Asri, Norain Mod; Abdullah, Azrina Al-Hadi; Antoni, Antoni; Mohd.Yusoff, Zetty Zahureen
The main objectives of this paper is to examine the long run relationship between total expenditure, revenue (tax and nontax) and economic growth in ASEAN-5 countries namely by Malaysia, Indonesia, Thailand, Singapore and Philippines. According to the prior studies, there are several hypotheses to explain the relationship between revenue and spend-ing such as (1) spend-revenue hypotheses, (2) revenue-spend hypotheses and (3)bi-directional causality hypotheses. To test the validity of these hy...
Caruso, Raul; Di Domizio, Marco
The aim of this paper is to study the interdependence of military spending between US and a panel of European countries in the period 1988-2013. The empirical estimation is based on a: (i) a unit root tests and a cointegration analysis; (ii) FMOLS and DOLS estimations. General results highlight that military spending of European countries is: (1) positively associated with US military spending and (2) negatively associated with average military spending of other European countries.
Mohd.Yusoff, Zetty Zahureen; Antoni, Antoni; Abdullah, Azrina Al-Hadi; Asri, Norain Mod; Karim, Zulkefly Abdul
The main objectives of this paper is to examine the long run relationship between total expenditure, revenue (tax and nontax) and economic growth in ASEAN-5 countries namely by Malaysia, Indonesia, Thailand, Singapore and Philippines. According to the prior studies, there are several hypotheses to explain the relationship between revenue and spend-ing such as (1) spend-revenue hypotheses, (2) revenue-spend hypotheses and (3)bi-directional causality hypotheses. To test the validity of these hy...
Kelly, Elaine; Stoye, George; Vera-Hernández, Marcos
Health spending per capita in England has more than doubled since 1997, yet relatively little is known about how that spending is distributed across the population. This paper uses administrative National Health Service (NHS) hospital records to examine key features of public hospital spending in England. We describe how costs vary across the lifecycle, and the concentration of spending among people and over time. We find that costs per person start to increase after age 50 and escalate after...
Barnichon, Régis; Matthes, Christian
Despite intense scrutiny, estimates of the government spending multiplier remain highly uncertain, with values ranging from 0.5 to 2. While an increase in government spending is generally assumed to have the same (mirror-image) effect as a decrease in government spending, we show that relaxing this assumption is important to understand the effects of fiscal policy. Regardless of whether we identify government spending shocks from (i) a narrative approach, or (ii) a timing restr...
Kibicho, Jennifer; Pinkerton, Steven D
Michigan's Medicaid program implemented four cost containment policies--preferred drug lists, joint and multistate purchasing arrangements, and maximum allowable cost--during 2002-04. The goal was to control growth of drug spending for beneficiaries who were enrolled in both Medicaid and Medicare and taking antihypertensive or antihyperlipidemic prescription drugs. We analyzed the impact of each policy while holding the effect of all other policies constant. Preferred drug lists increased both preferred and generic drugs' market share and reduced daily cost--the cost per day for each prescription provided to a beneficiary. In contrast, the maximum allowable cost policy increased daily cost and was the only policy that did not generate cost savings. The joint and multistate arrangements did not affect daily cost. Despite these policy trade-offs, the cumulative effect was a 10 percent decrease in daily cost and a total cost savings of $46,195 per year. Our findings suggest that policy makers need to evaluate the impact of multiple policies aimed at restraining drug spending, and further evaluate the policy trade-offs, to ensure that scarce public dollars achieve the greatest return for money spent.
Xi, Ning; Ding, Ning; Wang, Yougui
In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank loans and the monetary aggregate is determined by the monetary base and the required reserve ratio. It is shown that monetary wealth follows asymmetric Laplace distribution and latency time of money follows exponential distribution. The expression of monetary wealth distribution and that of the velocity of money in terms of the required reserve ratio are presented in a good agreement with simulation results.
Robert W Vivian and Nicholas Spearman
Although the phrase â€˜banks create moneyâ€™ forms part of popular discourse, it has precipitated a factually incorrect understanding of a bankâ€™s role in the money creation process. Bank money creation is the result of an underlying value-for-value exchange transaction; the bank facilitates the transaction, takes over responsibility for obligations created and records the money createdâ€”the bank is not the source of money creation. This has long been understood, even if it is not immediate...
Ксенія Романівна Петрофанова
The study of the peculiarities of electronic money is accompanied by the discovery of a large number of theoretical and practical problems and separate discussion issues of important application significance. As the number of e-money users increases with the development of e-commerce, protecting their interests requires proper civil and financial regulation. Comparing electronic money with cash and non-cash money, we found that they, by combining the benefits of the other two forms of money, actually became the third specific monetary form
Vermaire, J H; van Exel, N J A; van Loveren, C; Brouwer, W B F
The aim of this study was to investigate the parental willingness to invest in good oral health for their child in terms of money and time and to relate this to oral health related knowledge and behavioral aspects. 290 parents of 6-year-old children, participating in a RCT on caries preventive strategies in The Netherlands were asked to provide information on education, oral health habits, dietary habits, knowledge on dental topics, willingness to pay and perceived resistance against investing in preventive oral health actions for their children. Despite the fact that parents overall valued oral health for their child highly, still 12% of the parents were unwilling to spend any money, nor to invest any time by brushing their children's teeth to maintain good oral health for their child. Additionally, they indicated that they were unwilling to visit the dentist for preventive measures more than once a year. These children may certainly be considered at higher risk of developing oral diseases because worse oral hygiene habits and dietary habits were found in this group. Given the results, it may be necessary to differentiate in allocating caries prevention programmes to target parents or (school-based) children directly. Copyright © 2012 Elsevier Ltd. All rights reserved.
Johnson, Jesse P.
The need for a predictive budget/funging model is obvious. The current models used by the Resource Analysis Office (RAO) are used to predict the total costs of satellite projects. An effort to extend the modeling capabilities from total budget analysis to total budget and budget outlays over time analysis was conducted. A statistical based and data driven methodology was used to derive and develop the model. Th budget data for the last 18 GSFC-sponsored satellite projects were analyzed and used to build a funding model which would describe the historical spending patterns. This raw data consisted of dollars spent in that specific year and their 1989 dollar equivalent. This data was converted to the standard format used by the RAO group and placed in a database. A simple statistical analysis was performed to calculate the gross statistics associated with project length and project cost ant the conditional statistics on project length and project cost. The modeling approach used is derived form the theory of embedded statistics which states that properly analyzed data will produce the underlying generating function. The process of funding large scale projects over extended periods of time is described by Life Cycle Cost Models (LCCM). The data was analyzed to find a model in the generic form of a LCCM. The model developed is based on a Weibull function whose parameters are found by both nonlinear optimization and nonlinear regression. In order to use this model it is necessary to transform the problem from a dollar/time space to a percentage of total budget/time space. This transformation is equivalent to moving to a probability space. By using the basic rules of probability, the validity of both the optimization and the regression steps are insured. This statistically significant model is then integrated and inverted. The resulting output represents a project schedule which relates the amount of money spent to the percentage of project completion.
Frederiksen, Elisabeth Hermann
This paper examines how revenues from a natural resource interact with growth and welfare in an overlapping generations model with altruism. The revenues are allocated between public productive services and direct transfers to members of society by spending policies. We analyze how these policies...... influence the dynamics, and how the dynamics are influenced by the abundance of the revenue. Abundant revenues may harm growth, but growth and welfare can be oppositely affected. We also provide the socially optimal policy. Overall, the analysis suggests that variation in the strength of altruism...
Cogan, John F.; Hubbard, R. Glenn; Kessler, Daniel P.
In this paper, we estimate the effect of the tax preference for health insurance on health care spending using data from the Medical Expenditure Panel Surveys from 1996–2005. We use the fact that Social Security taxes are only levied on earnings below a statutory threshold to identify the impact of the tax preference. Because employer-sponsored health insurance premiums are excluded from Social Security payroll taxes, workers who earn just below the Social Security tax threshold receive a larger tax preference for health insurance than workers who earn just above it. We find a significant effect of the tax preference, consistent with previous research. PMID:22500056
Full Text Available Towards the end of 1960s there was a huge hippie movement which was marked as Turbulent Decade. In Britain the labor party gained power in 1964, in France the protests in 1968 forced president Charles de Gaulle to leave the country. For some people in Europe, May 1968 meant the end of traditional collective action and the beginning of a new era to be dominated mainly by different social movement emerging at that time throughout the world (Brinkley, 1997; Erlanger, 2008. Harold Pinter’s The Caretaker (1960 and Martin Amis’ Money: The Suicide Note (1984 are embedded with violence and mistreatement among the main characters. With an attempt to reflect social dimensions of the society of that time, both novels deal with violence between very close people who have family or very close friendship ties. The Cartaker is the play in which people are portrayed as living on the edge, and are ready to accept any possibility at presented in order to fulfill their individual psychological needs. The Money is a novel about John Self, a film director, a man who makes deals, spends a lot of money, abuses alcohol, tobacco, pills, pornography, and as a result he is portrayed as extremely violent. This paper attempts to analyze the question of violence that is presented and described in these two works. More importantly, this paper uses socio-psychological approaches and the historical context in analyzing violence in these two works. An analysis of absurd and satirist worlds presented by Pinter and Amis is especially valuable because of their relevance for describing and tackling present-day violence in our societies.
... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Anti-money laundering programs for...-Money Laundering Programs Anti-Money Laundering Programs § 103.135 Anti-money laundering programs for.... Virgin Islands. (b) Anti-money laundering program requirement. Effective July 24, 2002, each operator of...
... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Exempted anti-money laundering... TRANSACTIONS Anti-Money Laundering Programs Anti-Money Laundering Programs § 103.170 Exempted anti-money... establishment of anti-money laundering programs: (1) An agency of the United States Government, or of a State or...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. registered money transmitter. 537.323 Section 537.323 Money and Finance: Treasury Regulations Relating to Money and Finance... General Definitions § 537.323 U.S. registered money transmitter. The term U.S. registered money...
... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false U.S. registered money transmitter. 538.319 Section 538.319 Money and Finance: Treasury Regulations Relating to Money and Finance... General Definitions § 538.319 U.S. registered money transmitter. The term U.S. registered money...
Microsoft Virtual Server 2005 consistently proves to be worth its weight in gold, with new implementations thought up every day. With this product now a free download from Microsoft, scores of new users are able to experience what the power of virtualization can do for their networks. This guide is aimed at network administrators who are interested in ways that Virtual Server 2005 can be implemented in their organizations in order to save money and increase network productivity. It contains information on setting up a virtual network, virtual consolidation, virtual security, virtual honeypo
Guan, Jian-Yu; Arrazola, Juan Miguel; Amiri, Ryan; Zhang, Weijun; Li, Hao; You, Lixing; Wang, Zhen; Zhang, Qiang; Pan, Jian-Wei
A quantum money scheme enables a trusted bank to provide untrusted users with verifiable quantum banknotes that cannot be forged. In this work, we report a proof-of-principle experimental demonstration of the preparation and verification of unforgeable quantum banknotes. We employ a security analysis that takes experimental imperfections fully into account. We measure a total of 3.6 ×106 states in one verification round, limiting the forging probability to 10-7 based on the security analysis. Our results demonstrate the feasibility of preparing and verifying quantum banknotes using currently available experimental techniques.
The endogenous creation of bank credit and of deposit money is modeled. If banks have a limited ability to commit to making interbank loans, then, in order for bank deposits to be accepted as liquid assets, an upper bound is placed upon the size of each bank's asset portfolio, where the bound is determined as a certain multiple of the bank's capital. In our search model, the Central Limit Theorem implies that the multiplier is a non-linear function of the aggregate level of bank assets. Thus ...
Open Market Operations Division
In FY2002, the Bank of Japan (hereafter, the Bank) continued to provide ample liquidity under the high target level for current account balances held at the Bank. In the short-term money markets, the uncollateralized O/N call rate remained close to 0%, and for financial institutions, the opportunity cost of holding current account deposits at the Bank was negligible. As a result, demand for current account deposits at the Bank fluctuated widely, and a decrease in demand gave rise to under-bid...
The amount of resources, particularly prepaid resources, available for health can affect access to health care and health outcomes. Although health spending tends to increase with economic development, tremendous variation exists among health financing systems. Estimates of future spending can be beneficial for policy makers and planners, and can identify financing gaps. In this study, we estimate future gross domestic product (GDP), all-sector government spending, and health spending disaggregated by source, and we compare expected future spending to potential future spending. We extracted GDP, government spending in 184 countries from 1980-2015, and health spend data from 1995-2014. We used a series of ensemble models to estimate future GDP, all-sector government spending, development assistance for health, and government, out-of-pocket, and prepaid private health spending through 2040. We used frontier analyses to identify patterns exhibited by the countries that dedicate the most funding to health, and used these frontiers to estimate potential health spending for each low-income or middle-income country. All estimates are inflation and purchasing power adjusted. We estimated that global spending on health will increase from US$9·21 trillion in 2014 to $24·24 trillion (uncertainty interval [UI] 20·47-29·72) in 2040. We expect per capita health spending to increase fastest in upper-middle-income countries, at 5·3% (UI 4·1-6·8) per year. This growth is driven by continued growth in GDP, government spending, and government health spending. Lower-middle income countries are expected to grow at 4·2% (3·8-4·9). High-income countries are expected to grow at 2·1% (UI 1·8-2·4) and low-income countries are expected to grow at 1·8% (1·0-2·8). Despite this growth, health spending per capita in low-income countries is expected to remain low, at $154 (UI 133-181) per capita in 2030 and $195 (157-258) per capita in 2040. Increases in national health spending
Khan, Jahangir; Gerdtham, Ulf-G; Jansson, Bjarne
We analyzed the relationship between macroeconomic conditions, measured as unemployment rate and social security spending, from 4 social security schemes and total spending due to sickness and disability. We obtained aggregated panel data from 13 Organization for Economic Cooperation and Development member countries for 1980-1996. We used regression analysis and fixed effect models to examine spending on sickness benefits, disability pensions, occupational-injury benefits, survivor's pensions, and total spending. A decline in unemployment increased sickness benefits spending and reduced disability pension spending. These effects reversed direction after 4 years of unemployment. Inclusion of mortality rate as an additional variable in the analysis did not affect the findings. Macroeconomic conditions influence some reimbursements from social security schemes but not total spending.
Xiong, Wanting; Fu, Han; Wang, Yougui
This paper presents a multi-agent model describing the main mechanisms of money creation and money circulation in a credit economy. Our special attention is paid to the role of debt in the two processes. With the agent-based modeling approach, macro phenomena are well founded in micro-based causalities. A hypothetical economy composed of a banking system and multiple traders is proposed. Instead of being a pure financial intermediary, the banking system is viewed as the center of money creation and an accelerator of money circulation. Agents finance their expenditures not only by their own savings but also through bank loans. Through mathematical calculations and numerical simulation, we identify the determinants of money multiplier and those of velocity of money. In contrast to the traditional money creation model, the money multiplier is determined not only by the behavior of borrowing but also by the behavior of repayment as well. The velocity of money is found to be influenced by both money-related factors such as the expenditure habits of agents with respect to their income and wealth and debt-related factors such as borrowing and repayment behaviors of debtors and the reserve requirements faced by banks.
Waldron, Anthony; Miller, Daniel C.; Redding, Dave; Mooers, Arne; Kuhn, Tyler S.; Nibbelink, Nate; Roberts, J. Timmons; Tobias, Joseph A.; Gittleman, John L.
Halting global biodiversity loss is central to the Convention on Biological Diversity and United Nations Sustainable Development Goals, but success to date has been very limited. A critical determinant of success in achieving these goals is the financing that is committed to maintaining biodiversity; however, financing decisions are hindered by considerable uncertainty over the likely impact of any conservation investment. For greater effectiveness, we need an evidence-based model that shows how conservation spending quantitatively reduces the rate of biodiversity loss. Here we demonstrate such a model, and empirically quantify how conservation investment between 1996 and 2008 reduced biodiversity loss in 109 countries (signatories to the Convention on Biological Diversity and Sustainable Development Goals), by a median average of 29% per country. We also show that biodiversity changes in signatory countries can be predicted with high accuracy, using a dual model that balances the effects of conservation investment against those of economic, agricultural and population growth (human development pressures). Decision-makers can use this model to forecast the improvement that any proposed biodiversity budget would achieve under various scenarios of human development pressure, and then compare these forecasts to any chosen policy target. We find that the impact of spending decreases as human development pressures grow, which implies that funding may need to increase over time. The model offers a flexible tool for balancing the Sustainable Development Goals of human development and maintaining biodiversity, by predicting the dynamic changes in conservation finance that will be needed as human development proceeds.