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Sample records for providing monetary incentives

  1. Do not trash the incentive! Monetary incentives and waste sorting

    NARCIS (Netherlands)

    Bucciol, A.; Montinari, N.; Piovesan, M.

    2011-01-01

    This paper examines whether monetary incentives are an effective tool for increasing domestic waste sorting. We exploit the exogenous variation in the pricing systems experienced during the 1999-2008 decade by the 95 municipalities in the district of Treviso (Italy). We estimate with a panel

  2. Applied economics: The use of monetary incentives to modulate behavior.

    Science.gov (United States)

    Strang, S; Park, S Q; Strombach, T; Kenning, P

    2016-01-01

    According to standard economic theory higher monetary incentives will lead to higher performance and higher effort independent of task, context, or individual. In many contexts this standard economic advice is implemented. Monetary incentives are, for example, used to enhance performance at workplace or to increase health-related behavior. However, the fundamental positive impact of monetary incentives has been questioned by psychologists as well as behavioral economists during the last decade, arguing that monetary incentives can sometimes even backfire. In this chapter, studies from proponents as well as opponents of monetary incentives will be presented. Specifically, the impact of monetary incentives on performance, prosocial, and health behavior will be discussed. Furthermore, variables determining whether incentives have a positive or negative impact will be identified. © 2016 Elsevier B.V. All rights reserved.

  3. Do Monetary Incentives Increase Fitness Center Utilization? It Depends.

    Science.gov (United States)

    Hooker, Stephanie A; Wooldridge, Jennalee S; Ross, Kaile M; Masters, Kevin S

    2017-01-01

    To examine the effects of an employer-based monetary incentive program on membership termination and usage at a fitness center. Retrospective nested case-control study examining the relationship between participation in an incentive program, visits to the fitness center, and membership termination at 1 year. University-based fitness center. Members (N = 1122) of a university-based fitness center. Members were offered either a US$25 incentive for each month they visited the fitness center at least 10 times or no incentive. Data were extracted from the membership database and included membership termination at 1 year (yes, no), length of membership (days), participation in the incentive program (yes, no), and visits to the fitness center per month. Cox proportional hazards model. Members in the incentive program visited the fitness center on average more times per month (5.3 vs 4.3; P < .0001) but were significantly more likely to terminate memberships at 1 year compared to members who did not receive the incentive (38% vs 31%; P = .013). After controlling for relevant covariates, members who received the incentive had a 24% greater hazard of terminating their memberships compared to members who did not receive the incentive (hazard ratio [HR] = 1.24; P = .041). After controlling for the number of visits per month, the incentive program was no longer significantly related to membership termination (HR = 1.21; P = .07). Being in a monetary incentive program to attend a fitness center may be initially associated with a greater fitness center utilization but may not be associated with a reduced risk of membership termination.

  4. Do Monetary Incentives Matter in Classroom Experiments? Effects on Course Performance

    Science.gov (United States)

    Rousu, Matthew C.; Corrigan, Jay R.; Harris, David; Hayter, Jill K.; Houser, Scott; Lafrancois, Becky A.; Onafowora, Olugbenga; Colson, Gregory; Hoffer, Adam

    2015-01-01

    Using 641 principles of economics students across four universities, the authors examine whether providing monetary incentives in a prisoner's dilemma game enhances student learning as measured by a set of common exam questions. Subjects either play a two-player prisoner's dilemma game for real money, play the same game with no money at stake…

  5. Monetary Incentives to Reinforce Engagement and Achievement in a Job-Skills Training Program for Homeless, Unemployed Adults

    Science.gov (United States)

    Koffarnus, Mikhail N.; Wong, Conrad J.; Fingerhood, Michael; Svikis, Dace S.; Bigelow, George E.; Silverman, Kenneth

    2013-01-01

    The current study examined whether monetary incentives could increase engagement and achievement in a job-skills training program for unemployed, homeless, alcohol-dependent adults. Participants (n?=?124) were randomized to a no-reinforcement group (n?=?39), during which access to the training program was provided but no incentives were given; a…

  6. Public Service Motivation and Monetary Incentives: Substitutes or Motivation Crowding?

    DEFF Research Database (Denmark)

    Jacobsen, Christian Bøtcher

    2011-01-01

    Motivation is probably one of the most important determinants for organizational performance, because it stimulates effort and effective behaviors among people in the organization. But what type of motivation should public managers rely on? The PSM literature has argued that public service....... Using panel data from two surveys (2009 and 2011) of Danish physiotherapists (N=1.433), this study sheds more light on this chicken and egg debate. The results find no support for the PSM argument, but good support for the motivation crowding expectations. The results indicate that managers should...... motivation is the most important type of motivation in the delivery of public service, because it substitutes for egoistic motivation. Organizations whose members have high levels of PSM are therefore expected to be less dependent on utilitarian motivators such as monetary incentives. Motivation crowding...

  7. Money talks: neural substrate of modulation of fairness by monetary incentives.

    Science.gov (United States)

    Zhou, Yuan; Wang, Yun; Rao, Li-Lin; Yang, Liu-Qing; Li, Shu

    2014-01-01

    A unique feature of the human species is compliance with social norms, e.g., fairness, even though this normative decision means curbing self-interest. However, sometimes people prefer to pursue wealth at the expense of moral goodness. Specifically, deviations from a fairness-related normative choice have been observed in the presence of a high monetary incentive. The neural mechanism underlying this deviation from the fairness-related normative choice has yet to be determined. In order to address this issue, using functional magnetic resonance imaging we employed an ultimatum game (UG) paradigm in which fairness and a proposed monetary amount were orthogonally varied. We found evidence for a significant modulation by the proposed amount on fairness in the right lateral prefrontal cortex (PFC) and the bilateral insular cortices. Additionally, the insular subregions showed dissociable modulation patterns. Inter-individual differences in the modulation effects in the left inferior frontal gyrus (IFG) accounted for inter-individual differences in the behavioral modulation effect as measured by the rejection rate, supporting the concept that the PFC plays a critical role in making fairness-related normative decisions in a social interaction condition. Our findings provide neural evidence for the modulation of fairness by monetary incentives as well as accounting for inter-individual differences.

  8. Money talks: Neural substrate of modulation of fairness by monetary incentives

    Directory of Open Access Journals (Sweden)

    Yuan eZhou

    2014-05-01

    Full Text Available A unique feature of the human species is compliance with social norms, e.g., fairness, even though this normative decision means curbing self-interest. However, sometimes people prefer to pursue wealth at the expense of moral goodness. Specifically, deviations from a fairness-related normative choice have been observed in the presence of a high monetary incentive. The neural mechanism underlying this deviation from the fairness-related normative choice has yet to be determined. In order to address this issue, using functional magnetic resonance imaging we employed an ultimatum game paradigm in which fairness and a proposed monetary amount were orthogonally varied. We found evidence for a significant modulation by the proposed amount on fairness in the right lateral prefrontal cortex and the bilateral insular cortices. Additionally, the insular subregions showed dissociable modulation patterns. Inter-individual differences in the modulation effects in the left inferior frontal gyrus accounted for inter-individual differences in the behavioral modulation effect as measured by the rejection rate, supporting the concept that the prefrontal cortex plays a critical role in making fairness-related normative decisions in a social interaction condition. Our findings provide neural evidence for the modulation of fairness by monetary incentives as well as accounting for inter-individual differences.

  9. Humans Integrate Monetary and Liquid Incentives to Motivate Cognitive Task Performance

    Directory of Open Access Journals (Sweden)

    Debbie Marianne Yee

    2016-01-01

    Full Text Available It is unequivocal that a wide variety of incentives can motivate behavior. However, few studies have explicitly examined whether and how different incentives are integrated in terms of their motivational influence. The current study examines the combined effects of monetary and liquid incentives on cognitive processing, and whether appetitive and aversive incentives have distinct influences. We introduce a novel task paradigm, in which participants perform cued task-switching for monetary rewards that vary parametrically across trials, with liquid incentives serving as post-trial performance feedback. Critically, the symbolic meaning of the liquid was held constant (indicating successful reward attainment, while liquid valence was blocked. In the first experiment, monetary rewards combined additively with appetitive liquid feedback to improve subject task performance. Aversive liquid feedback counteracted monetary reward effects in low monetary reward trials, particularly in a subset of participants who tended to avoid responding under these conditions. Self-report motivation ratings predicted behavioral performance above and beyond experimental effects. A follow-up experiment replicated the predictive power of motivation ratings even when only appetitive liquids were used, suggesting that ratings reflect idiosyncratic subjective values of, rather than categorical differences between, the liquid incentives. Together, the findings indicate an integrative relationship between primary and secondary incentives and potentially dissociable influences in modulating motivational value, while informing hypotheses regarding candidate neural mechanisms.

  10. Humans Integrate Monetary and Liquid Incentives to Motivate Cognitive Task Performance

    Science.gov (United States)

    Yee, Debbie M.; Krug, Marie K.; Allen, Ariel Z.; Braver, Todd S.

    2016-01-01

    It is unequivocal that a wide variety of incentives can motivate behavior. However, few studies have explicitly examined whether and how different incentives are integrated in terms of their motivational influence. The current study examines the combined effects of monetary and liquid incentives on cognitive processing, and whether appetitive and aversive incentives have distinct influences. We introduce a novel task paradigm, in which participants perform cued task-switching for monetary rewards that vary parametrically across trials, with liquid incentives serving as post-trial performance feedback. Critically, the symbolic meaning of the liquid was held constant (indicating successful reward attainment), while liquid valence was blocked. In the first experiment, monetary rewards combined additively with appetitive liquid feedback to improve subject task performance. Aversive liquid feedback counteracted monetary reward effects in low monetary reward trials, particularly in a subset of participants who tended to avoid responding under these conditions. Self-report motivation ratings predicted behavioral performance above and beyond experimental effects. A follow-up experiment replicated the predictive power of motivation ratings even when only appetitive liquids were used, suggesting that ratings reflect idiosyncratic subjective values of, rather than categorical differences between, the liquid incentives. Together, the findings indicate an integrative relationship between primary and secondary incentives and potentially dissociable influences in modulating motivational value, while informing hypotheses regarding candidate neural mechanisms. PMID:26834668

  11. Impact of monetary incentives on cognitive performance and error monitoring following sleep deprivation.

    Science.gov (United States)

    Hsieh, Shulan; Li, Tzu-Hsien; Tsai, Ling-Ling

    2010-04-01

    To examine whether monetary incentives attenuate the negative effects of sleep deprivation on cognitive performance in a flanker task that requires higher-level cognitive-control processes, including error monitoring. Twenty-four healthy adults aged 18 to 23 years were randomly divided into 2 subject groups: one received and the other did not receive monetary incentives for performance accuracy. Both subject groups performed a flanker task and underwent electroencephalographic recordings for event-related brain potentials after normal sleep and after 1 night of total sleep deprivation in a within-subject, counterbalanced, repeated-measures study design. Monetary incentives significantly enhanced the response accuracy and reaction time variability under both normal sleep and sleep-deprived conditions, and they reduced the effects of sleep deprivation on the subjective effort level, the amplitude of the error-related negativity (an error-related event-related potential component), and the latency of the P300 (an event-related potential variable related to attention processes). However, monetary incentives could not attenuate the effects of sleep deprivation on any measures of behavior performance, such as the response accuracy, reaction time variability, or posterror accuracy adjustments; nor could they reduce the effects of sleep deprivation on the amplitude of the Pe, another error-related event-related potential component. This study shows that motivation incentives selectively reduce the effects of total sleep deprivation on some brain activities, but they cannot attenuate the effects of sleep deprivation on performance decrements in tasks that require high-level cognitive-control processes. Thus, monetary incentives and sleep deprivation may act through both common and different mechanisms to affect cognitive performance.

  12. Monetary incentives and recycling: Behavioral and psychological reactions to a performance-dependent garbage fee

    DEFF Research Database (Denmark)

    Thøgersen, John

    The effects of offering monetary incentives for performing environmentally desirable be-haviours are investigated in the context of a pay-by-weight scheme for garbage collection. Effects on different types of recycling and on the motivation behind recycling are investigated in a field setting bas...

  13. Monetary incentives and recycling: Behavioral and psychological reactions to a performance-dependent garbage fee

    DEFF Research Database (Denmark)

    Thøgersen, John

    2003-01-01

    The effects of offering monetary incentives for performing environmentally desirable be-haviours are investigated in the context of a pay-by-weight scheme for garbage collection. Effects on different types of recycling and on the motivation behind recycling are investigated in a field setting bas...

  14. The effect of monetary incentives on absenteeism: a case study

    Science.gov (United States)

    Charles H. Wolf

    1974-01-01

    An attendance bonus paid by a wood processing firm was studied to determine its effectiveness in reducing absenteeism. Employees were divided into permanent and short-term groups, and their response to the bonus was studied, using non-parametric tests. The evidence suggested that the incentive favorably influenced the work attendance of only the permanent group....

  15. Expert views on most suitable monetary incentives on food to stimulate healthy eating.

    Science.gov (United States)

    Waterlander, Wilma E; Steenhuis, Ingrid H M; de Vet, Emely; Schuit, Albertine J; Seidell, Jacob C

    2010-06-01

    Pricing strategies are an important component in the marketing mix and may also be useful in stimulating healthier food choices. However, due to competing interests and feasibility problems, the introduction of pricing strategies is complicated. For successfully introducing food pricing strategies, it is essential to explore incentives that are not only promising but also realizable and being approved by different sectors. We aimed to assemble a list of pricing strategies by exploring expert views using the Delphi method. Subjects included experts from academia, industry, retail, agriculture, policymakers, consumers and non-governmental organizations. Data were collected in three rounds. In round one, experts designed promising pricing strategies. Based on a time-budget model incorporating Sleep, Leisure, Occupation, Transportation and Home-based activities, these strategies were in the subsequent rounds judged on several criteria. Results were analysed using median and interquartile deviations scores. We found fair consensus levels among experts and a varied list of promising pricing strategies. The panel agreed on the potential success of offering small presents, providing price-cuts on healthy foods and discounting healthier foods more frequently. Also, it was found that experts gave higher rates to pricing strategies for which the implementation responsibilities could be placed elsewhere. The resulted list of promising monetary incentives is an essential first step for the future design of pricing strategies. Following this study, it is important to determine how to make solid agreements on responsibility and implementation issues. Also, consumer perceptions regarding the proposed pricing strategies should be studied.

  16. The dark side of monetary incentive: how does extrinsic reward crowd out intrinsic motivation.

    Science.gov (United States)

    Ma, Qingguo; Jin, Jia; Meng, Liang; Shen, Qiang

    2014-02-12

    It was widely believed that incentives could effectively enhance the motivation of both students and employees. However, psychologists reported that extrinsic reward actually could undermine individuals' intrinsic motivation to a given interesting task, which challenged viewpoints from traditional incentive theories. Numerous studies have been carried out to test and explain the undermining effect; however, the neural basis of this effect is still elusive. Here, we carried out an electrophysiological study with a simple but interesting stopwatch task to explore to what extent the performance-based monetary reward undermines individuals' intrinsic motivation toward the task. The electrophysiological data showed that the differentiated feedback-related negativity amplitude toward intrinsic success failure divergence was prominently reduced once the extrinsic reward was imposed beforehand. However, such a difference was not observed in the control group, in which no extrinsic reward was provided throughout the experiment. Furthermore, such a pattern was not observed for P300 amplitude. Therefore, the current results indicate that extrinsic reward demotivates the intrinsic response of individuals toward success-failure outcome, which was reflected in the corresponding reduced motivational-related differentiated feedback-related negativity, but not in amplitude of P300.

  17. Impacts of monetary incentive measures on the acceptability for intelligent speed adaptation (ISA)

    Science.gov (United States)

    Matsuo, Kojiro; Sugihara, Mitsuru; Yamazaki, Motohiro; Mimura, Yasuhiro; Kanno, Komei; Sugiki, Nao

    2017-10-01

    In Japan, Mandatory Intelligent Speed Adaptation (ISA) or Voluntary ISA could be a new paradigm for urban driving speed management such as traffic calming in community streets, once it is widely disseminated. This study aims to analyze the impacts of various monetary incentive measures and individual attributes on the acceptability for several ISA installation. We conducted a stated preference (SP) surveys for the subjects who had attended in a 5-month Advisory ISA field experiment. Then we applied disaggregate model analyses to the response data. The main results were: that the acceptability for Advisory ISA is highest followed by Voluntary ISA and then Mandatory ISA; that the acceptability for ISA that operates only on community streets is high; that the acceptability becomes higher as the age of the subjects becomes higher; and that the acceptability becomes higher as the amount of the monetary incentive becomes greater, but the marginal effect becomes lower. In conclusions, the monetary incentive measures for disseminating Voluntary ISA seems to be practical.

  18. The effect of a monetary incentive for administrative assistants on the survey response rate: a randomized controlled trial

    Directory of Open Access Journals (Sweden)

    Arnav Agarwal

    2016-08-01

    Full Text Available Abstract Background There is sufficient evidence that monetary incentives are effective in increasing survey response rates in the general population as well as with physicians. The objective of this study was to assess the impact of a monetary incentive intended for administrative assistants on the survey response rate of physicians in leadership positions. Methods This was an ancillary study to a national survey of chairs of academic Departments of Medicine in the United States about measuring faculty productivity. We randomized survey participants to receive or not receive a $5 gift card enclosed in the survey package. The cover letter explained that the gift card was intended for the administrative assistants as a “thank you for their time.” We compared the response rates between the 2 study arms using the Chi-square test. Results Out of 152 participants to whom survey packages were mailed to, a total of 78 responses were received (51 % response rate. The response rates were 59 % in the incentive arm and 46 % in the no incentive arm. The relative effect of the incentive compared to no monetary incentive was borderline statistically significant (relative risk (RR = 1.36, 95 % confidence interval (CI 0.99 to 1.87; p = 0.055. Conclusion Monetary incentives intended for administrative assistants likely increase the response rate of physicians in leadership positions.

  19. The Combinatorial Retention Auction Mechanism (CRAM): Integrating Monetary and Non-monetary Reenlistment Incentives

    Science.gov (United States)

    2011-11-01

    provides an example of a telecommuting policy. Employees sit through a 90-minute orientation video on telecommunication. Employees also discuss how to...disbanded after the colonies gained independence. It has been borne out, time and again, following significant military campaigns. The framers of

  20. The Effect of External Incentives on Profits and Firm-Provided Incentives Strategy

    OpenAIRE

    Ofer H. Azar

    2003-01-01

    The article examines the firm's choice of incentives when workers face additional incentives (“external incentives”) to those provided by the firm, such as building reputation that improves the workers' prospects with other employers, or satisfaction from working well. Surprisingly, the firm might find it optimal to increase the incentives it provides following an increase in external incentives. Even if the firm reduces its incentives, however, total incentives unambiguously increase, leadin...

  1. Anticipatory reward processing in addicted populations: a focus on the monetary incentive delay task.

    Science.gov (United States)

    Balodis, Iris M; Potenza, Marc N

    2015-03-01

    Advances in brain imaging techniques have allowed neurobiological research to temporally analyze signals coding for the anticipation of reward. In addicted populations, both hyporesponsiveness and hyperresponsiveness of brain regions (e.g., ventral striatum) implicated in drug effects and reward system processing have been reported during anticipation of generalized reward. We discuss the current state of knowledge of reward processing in addictive disorders from a widely used and validated task: the monetary incentive delay task. Only studies applying the monetary incentive delay task in addicted and at-risk adult populations are reviewed, with a focus on anticipatory processing and striatal regions activated during task performance as well as the relationship of these regions with individual difference (e.g., impulsivity) and treatment outcome variables. We further review drug influences in challenge studies as a means to examine acute influences on reward processing in abstinent, recreationally using, and addicted populations. Generalized reward processing in addicted and at-risk populations is often characterized by divergent anticipatory signaling in the ventral striatum. Although methodologic and task variations may underlie some discrepant findings, anticipatory signaling in the ventral striatum may also be influenced by smoking status, drug metabolites, and treatment status in addicted populations. Divergent results across abstinent, recreationally using, and addicted populations demonstrate complexities in interpreting findings. Future studies would benefit from focusing on characterizing how impulsivity and other addiction-related features relate to anticipatory striatal signaling over time. Additionally, identifying how anticipatory signals recover or adjust after protracted abstinence will be important in understanding recovery processes. Copyright © 2015 Society of Biological Psychiatry. Published by Elsevier Inc. All rights reserved.

  2. The effectiveness of a monetary incentive offer on survey response rates and response completeness in a longitudinal study

    Directory of Open Access Journals (Sweden)

    Shengchao Yu

    2017-04-01

    Full Text Available Abstract Background Achieving adequate response rates is an ongoing challenge for longitudinal studies. The World Trade Center Health Registry is a longitudinal health study that periodically surveys a cohort of ~71,000 people exposed to the 9/11 terrorist attacks in New York City. Since Wave 1, the Registry has conducted three follow-up surveys (Waves 2–4 every 3–4 years and utilized various strategies to increase survey participation. A promised monetary incentive was offered for the first time to survey non-respondents in the recent Wave 4 survey, conducted 13–14 years after 9/11. Methods We evaluated the effectiveness of a monetary incentive in improving the response rate five months after survey launch, and assessed whether or not response completeness was compromised due to incentive use. The study compared the likelihood of returning a survey for those who received an incentive offer to those who did not, using logistic regression models. Among those who returned surveys, we also examined whether those receiving an incentive notification had higher rate of response completeness than those who did not, using negative binomial regression models and logistic regression models. Results We found that a $10 monetary incentive offer was effective in increasing Wave 4 response rates. Specifically, the $10 incentive offer was useful in encouraging initially reluctant participants to respond to the survey. The likelihood of returning a survey increased by 30% for those who received an incentive offer (AOR = 1.3, 95% CI: 1.1, 1.4, and the incentive increased the number of returned surveys by 18%. Moreover, our results did not reveal any significant differences on response completeness between those who received an incentive offer and those who did not. Conclusions In the face of the growing challenge of maintaining a high response rate for the World Trade Center Health Registry follow-up surveys, this study showed the value of offering a

  3. Comparing farmers' market revenue trends before and after the implementation of a monetary incentive for recipients of food assistance.

    Science.gov (United States)

    Freedman, Darcy A; Mattison-Faye, Amy; Alia, Kassandra; Guest, M Aaron; Hébert, James R

    2014-05-22

    We examined the influence of an intervention to increase fruit and vegetable purchases at farmers' markets for recipients of food assistance, Shop N Save (SNS), on revenue trends at a farmers' market located at a federally qualified health center (FQHC) in rural South Carolina. We compared revenue trends for 20 weeks before the intervention (2011) and 20 weeks after (2012). SNS provided one $5 monetary incentive per week to customers spending $5 or more in food assistance at the farmers' market. SNS was available to any farmers' market customer using Supplemental Nutrition Assistance Program (SNAP), Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), and/or Senior or WIC Farmers' Market Nutrition Program (FMNP) vouchers. Sales receipts were recorded for each transaction at the farmers' market to document payment type and the cost of the purchase. All SNS participants completed a one-time enrollment survey. A total of 336 customers self-enrolled in SNS from June through October 2012. Most SNS participants were female, African American, and patients at the FQHC. In total, the use of all forms of food assistance (SNAP, WIC, and FMNP) at the farmers' market increased significantly after the intervention (from 10% before, to 25% after, P = .003). Senior FMNP vouchers and SNAP usage increased the most. Interventions that provide incentives to recipients of food assistance programs at farmers' markets are a viable strategy for increasing food assistance usage and revenue.

  4. Improving response rates using a monetary incentive for patient completion of questionnaires: an observational study

    Directory of Open Access Journals (Sweden)

    Orchard Jo

    2007-02-01

    Full Text Available Abstract Background Poor response rates to postal questionnaires can introduce bias and reduce the statistical power of a study. To improve response rates in our trial in primary care we tested the effect of introducing an unconditional direct payment of £5 for the completion of postal questionnaires. Methods We recruited patients in general practice with knee problems from sites across the United Kingdom. An evidence-based strategy was used to follow-up patients at twelve months with postal questionnaires. This included an unconditional direct payment of £5 to patients for the completion and return of questionnaires. The first 105 patients did not receive the £5 incentive, but the subsequent 442 patients did. We used logistic regression to analyse the effect of introducing a monetary incentive to increase the response to postal questionnaires. Results The response rate following reminders for the historical controls was 78.1% (82 of 105 compared with 88.0% (389 of 442 for those patients who received the £5 payment (diff = 9.9%, 95% CI 2.3% to 19.1%. Direct payments significantly increased the odds of response (adjusted odds ratio = 2.2, 95% CI 1.2 to 4.0, P = 0.009 with only 12 of 442 patients declining the payment. The incentive did not save costs to the trial – the extra cost per additional respondent was almost £50. Conclusion The direct payment of £5 significantly increased the completion of postal questionnaires at negligible increase in cost for an adequately powered study.

  5. Aligning Ambition and Incentives

    DEFF Research Database (Denmark)

    Koch, Alexander; Peyrache, Eloïc

    Labor turnover creates longer term career concerns incentives that motivate employees in addition to the short term monetary incentives provided by the current employer. We analyze how these incentives interact and derive implications for the design of incentive contracts and organizational choice....... The main insights stem from a trade-off between ‘good monetary incentives' and ‘good reputational incentives'. We show that the principal optimally designs contracts to create ambiguity about agents' abilities. This may make it optimal to contract on relative performance measures, even though the extant...

  6. Behavioral activation can normalize neural hypoactivation in subthreshold depression during a monetary incentive delay task.

    Science.gov (United States)

    Mori, Asako; Okamoto, Yasumasa; Okada, Go; Takagaki, Koki; Jinnin, Ran; Takamura, Masahiro; Kobayakawa, Makoto; Yamawaki, Shigeto

    2016-01-01

    Late adolescents are under increased risk of developing depressive symptoms. Behavioral activation is an effective treatment for subthreshold depression, which can prevent the development of subthreshold depression into a major depressive disorder. However, the neural mechanisms underlying the efficacy of behavioral activation have not been clearly understood. We investigated neural responses during reward processing by individuals with subthreshold depression to clarify the neural mechanisms of behavioral activation. Late adolescent university students with subthreshold depression (n=15, age 18-19 years) as indicated by a high score on the Beck's Depression Inventory-ll (BDI-ll) and 15 age-matched controls with a low BDI-ll score participated in functional magnetic resonance imaging scanning conducted during a monetary incentive delay task on two occasions. The Individuals in the subthreshold depression group received five, weekly behavioral activation sessions between the two scanning sessions. Moreover, they did not receive any medication until the study was completed. Behavioral activation significantly reduced depressive symptoms. Moreover, compared to the changes in brain functions in the control group, the behavioral activation group showed functional changes during loss anticipation in brain structures that mediates cognitive and emotional regulation, including the left ventrolateral prefrontal cortex and angular gyrus. Replication of the study with a larger sample size is required to increase the generalizability of these results. Behavioral activation results in improved functioning of the fronto-parietal region during loss anticipation. These results increase our understanding of the mechanisms underlying specific psychotherapies. Copyright © 2015 Elsevier B.V. All rights reserved.

  7. Monetary incentives improve recall of research consent information: it pays to remember.

    Science.gov (United States)

    Festinger, David S; Marlowe, Douglas B; Croft, Jason R; Dugosh, Karen L; Arabia, Patricia L; Benasutti, Kathleen M

    2009-04-01

    Research participants often fail to recall substantial amounts of informed consent information after delays of only a few days. Numerous interventions have proven effective at improving consent recall; however, virtually all have focused on compensating for potential cognitive deficits and have ignored motivational factors. In this pilot study, the authors randomly assigned 31 drug court clients participating in a clinical research trial to a control group that received a standard informed consent procedure or to a group that received the same procedure plus incentives for correctly recalling consent information. The incentive group was told they would receive $5 for each of the 15 consent items they could answer correctly 1 week later. At the follow-up, the incentive group recalled a significantly greater percentage of consent information overall than the control group (65% vs. 42%, p<.01). Findings from this study have important implications for the ethical conduct of human subject research. The incentivized consent procedure may be useful for improving consent recall in research studies, particularly those involving potentially serious side effects. The results also provide an important "proof of concept" regarding the utility of motivational procedures for improving recall of consent information. Copyright (c) 2009 APA, all rights reserved.

  8. The Effects of Individual and Group Monetary Incentives on High Performance

    Science.gov (United States)

    McGee, Heather M.; Dickinson, Alyce M.; Huitema, Bradley E.; Culig, Kathryn M.

    2006-01-01

    This study examined whether high performers performed better (a) under individual and group incentive pay than under hourly pay and (b) under individual incentive pay than under group incentive pay. Participants were 11 college students. An ABCDC within-subject design was used in which A was hourly pay with individual feedback, B was individual…

  9. Monetary Incentive Effects on Event-Based Prospective Memory Three Months after Traumatic Brain Injury in Children

    OpenAIRE

    McCauley, Stephen R.; Pedroza, Claudia; Chapman, Sandra B.; Cook, Lori G.; Vásquez, Ana C.; Levin, Harvey S.

    2011-01-01

    Information regarding the remediation of event-based prospective memory (EB-PM) impairments following pediatric traumatic brain injury (TBI) is scarce. Addressing this, two levels of monetary incentives were used to improve EB-PM in children ages 7 to 16 years with orthopedic injuries (OI, n = 51), or moderate (n = 25), and severe (n = 39) TBI at approximately three months postinjury. The EB-PM task consisted of the child giving a specific verbal response to a verbal cue from the examiner whi...

  10. Monetary incentive effects on event-based prospective memory three months after traumatic brain injury in children.

    Science.gov (United States)

    McCauley, Stephen R; Pedroza, Claudia; Chapman, Sandra B; Cook, Lori G; Vásquez, Ana C; Levin, Harvey S

    2011-07-01

    Information regarding the remediation of event-based prospective memory (EB-PM) impairments following pediatric traumatic brain injury (TBI) is scarce. Addressing this, two levels of monetary incentives were used to improve EB-PM in children ages 7 to 16 years with orthopedic injuries (OI, n = 51), or moderate (n = 25) and severe (n = 39) TBI at approximately 3 months postinjury. The EB-PM task consisted of the child giving a specific verbal response to a verbal cue from the examiner while performing a battery of neuropsychological measures (ongoing task). Significant effects were found for age-at-test, motivation condition, period, and group. Within-group analyses indicated that OI and moderate TBI groups performed significantly better under the high- than under the low-incentive condition, but the severe TBI group demonstrated no significant improvement. These results indicate that EB-PM can be significantly improved at 3 months postinjury in children with moderate, but not severe, TBI.

  11. Role Structure, Non-Monetary Compensation, and Team Incentives as Motivators of Salesperson Performance

    National Research Council Canada - National Science Library

    Noble, Charles

    2002-01-01

    This study considers recruiters as a form of salesperson and uses the extensive literature base in that area to examine issues related to the structure of recruiter roles and various forms of monetary...

  12. Aligning ambition and incentives

    DEFF Research Database (Denmark)

    Koch, Alexander; Peyrache, Eloïc

    2011-01-01

    Labor turnover creates longer term career concerns incentives that motivate employees in addition to the short term monetary incentives provided by the current employer. We analyze how these incentives interact, and derive implications for the design of incentive contracts and organizational choice....... The main insights stem from a trade-off between ‘good monetary incentives’ and ‘good reputational incentives’. We show that the principal optimally designs contracts to create ambiguity about agents’ abilities. This may make it optimal to contract on relative performance measures, even though the extant...

  13. Quantifying familial influences on brain activation during the monetary incentive delay task: an adolescent monozygotic twin study.

    Science.gov (United States)

    Silverman, Merav H; Krueger, Robert F; Iacono, William G; Malone, Stephen M; Hunt, Ruskin H; Thomas, Kathleen M

    2014-12-01

    Although altered brain activation during reward tasks has been found in a number of heritable psychiatric disorders and health outcomes, the familial nature of reward-related brain activation remains unexplored. In this study, we investigated the degree to which the magnitude of mesocorticolimbic reward system signal intensities in anticipation of reward during the monetary incentive delay (MID) task was similar within 46 pairs of adolescent, monozygotic twins. Significant within-pair correlations in brain activation during anticipation of gain were found in one third of the 18 reward-related regions investigated. These regions were the right nucleus accumbens, left and right posterior caudate, right anterior caudate, left insula, and anterior cingulate cortex. This serves as evidence for a shared familial contribution to individual differences in reward related brain activity in certain key reward processing regions. Copyright © 2014 Elsevier B.V. All rights reserved.

  14. Project-level Governance, Monetary Incentives, and Performance in Strategic R&D Alliances

    NARCIS (Netherlands)

    M.N. Ozdemir (Mahmut)

    2011-01-01

    textabstractA growing number of firms rely on strategic R&D alliances to develop new products. In these alliances, firms use various kinds of governance mechanisms for incentive alignment. Project-level governance, i.e., the daily control of alliance activities by firms’ alliance representatives

  15. The Influence of Monetary Incentives on Goal Choice, Goal Commitment, and Task Performance

    Science.gov (United States)

    1987-01-01

    This report is one in a series concerned with the design of performance-based incentive systems. It describes the basic mechanisms of goal choice...per hour 6 per hour 7 per hour 6 per hour 9 per hour 10 per hour 11 or more per hour 4. For each o£ the produccion races llsced below

  16. What can the monetary incentive delay task tell us about the neural processing of reward and punishment?

    Directory of Open Access Journals (Sweden)

    Lutz K

    2014-04-01

    Full Text Available Kai Lutz,1–3 Mario Widmer1,2,41Department of Neurology, University Hospital Zürich, Zürich, 2Cereneo, Center for Neurology and Rehabilitation, Vitznau, 3Division of Neuropsychology, Institute of Psychology, University of Zürich, Zürich, 4Neural Control of Movement Lab, ETH Zürich, Zürich, SwitzerlandAbstract: Since its introduction in 2000, the monetary incentive delay (MID task has been used extensively to investigate changes in neural activity in response to the processing of reward and punishment in healthy, but also in clinical populations. Typically, the MID task requires an individual to react to a target stimulus presented after an incentive cue to win or to avoid losing the indicated reward. In doing so, this paradigm allows the detailed examination of different stages of reward processing like reward prediction, anticipation, outcome processing, and consumption as well as the processing of tasks under different reward conditions. This review gives an overview of different utilizations of the MID task by outlining the neuronal processes involved in distinct aspects of human reward processing, such as anticipation versus consumption, reward versus punishment, and, with a special focus, reward-based learning processes. Furthermore, literature on specific influences on reward processing like behavioral, clinical and developmental influences, is reviewed, describing current findings and possible future directions.Keywords: reward, punishment, dopamine, reward system

  17. Monetary Incentives Improve Recall of Research Consent Information: A Randomized Pilot Study

    Science.gov (United States)

    Festinger, David S.; Marlowe, Douglas B.; Croft, Jason R.; Dugosh, Karen L.; Arabia, Patricia L.; Benasutti, Kathleen M.

    2011-01-01

    Research participants often fail to recall substantial amounts of informed consent information after delays of only a few days. Numerous interventions have proven effective at improving consent recall; however, virtually all have focused on compensating for potential cognitive deficits and have ignored motivational factors. In this pilot study, we randomly assigned 31 drug court clients participating in a clinical research trial to a standard consent procedure or to the same procedure plus incentives for correctly recalling consent information. The incentive group was told they would receive $5 for each of the 15 consent items they could answer correctly 1-week later. At the follow-up, the incentive group recalled a significantly greater percentage of consent information overall than the standard group (65% vs. 42%; p < .01). Similar findings were observed for specific categories of consent information, including study purpose and design, risks and benefits, and human subject protections. Effect sizes were all large (d = 0.89 to 1.25). Findings suggest that motivation plays a key role in recall of consent information and should be considered in the development of future interventions. PMID:19331486

  18. Monetary Matched Incentives to Encourage the Purchase of Fresh Fruits and Vegetables at Farmers Markets in Underserved Communities

    Science.gov (United States)

    Lambert, Jennifer; Penn, Tanya; Hedges, Susan; Ortwine, Kristine; Mei, Anchi; Delaney, Tracy; Wooten, Wilma J.

    2013-01-01

    Introduction Farmers market programs may increase access to more healthful foods and reduce the high prevalence of obesity in low-income communities. The objective of this study was to examine outcomes of the Fresh Fund farmers market program serving low-income neighborhoods in San Diego, California. Methods Through its Farmers Market Fresh Fund Incentive Program, the County of San Diego Health and Human Services Agency offered monetary incentives to government nutrition assistance recipients to purchase fresh produce at 5 farmers markets. Participants enrolled at participating markets from June 1, 2010, through December 31, 2011; they completed baseline and follow-up surveys of daily consumption and weekly spending on fruits and vegetables. We examined enrollment, participation, participant health perceptions, and vendor revenue. Results During the study period, 7,298 eligible participants enrolled in Fresh Fund; most (82%) had previously never been to a farmers market. Among 252 participants with matched surveys at baseline and 12-month follow-up, the proportion who reported their diet to be “healthy” or “very healthy” increased from 4% to 63% (P < .001); nearly all (93%) stated that Fresh Fund was “important” or “very important” in their decision to shop at the farmers market. Vendors reported that 48% of all market revenue they received was received through the Fresh Fund program. At 2 markets, revenue from June 1, 2011, through January 31, 2012, increased by 74% and 68% compared with revenue from June 1, 2010, through January 31, 2011. Conclusion Participants in the Fresh Fund program self-reported increases in daily consumption and weekly spending on fruits and vegetables, and vendors at participating farmers markets also increased their revenue. PMID:24229571

  19. Internet access and investment incentives for broadband service providers

    OpenAIRE

    Baranes, Edmond; Poudou, Jean-Christophe

    2011-01-01

    This paper studies a model of the Internet broadband market as a platform in order to show how di¤erent pricing schemes from the so-called "net neutrality " can increase economic e¢ ciency by allowing more investment of access providers and enhancing consumers surplus and social welfare. We show that departing from the "net neutrality", where at rates are used, introducing termination fees can increase incentives to invest for the ISP and enhance social surplus. Keywords : Network neutrality,...

  20. Do incentives matter? Providing benefits to families of organ donors.

    Science.gov (United States)

    Bryce, C L; Siminoff, L A; Ubel, P A; Nathan, H; Caplan, A; Arnold, R M

    2005-12-01

    Whether the number of organs available for transplant would be positively or negatively affected by providing benefits to families of organ donors has been debated by policymakers, ethicists and the transplant community at large. We designed a telephone survey to measure public opinion regarding the use of benefits in general and of five types in particular: funeral benefits, charitable contributions, travel/lodging expenses, direct payments and medical expenses. Of the 971 adults who completed the survey (response rate = 69%), all were from Pennsylvania households, 45.6% were registered organ donors, and 51.7% were nonwhite. Although 59% of respondents favored the general idea of incentives, support for specific incentives ranged from 53% (direct payment) to 84% (medical expenses). Among those registered as donors, more nonwhites than whites supported funeral benefits (88% vs. 81%; p = 0.038), direct payment (63% vs. 41%; p donation but would influence the behavior of others. While benefits appear to be favored, their true impact can only be assessed through pilot programs.

  1. Behavioral implications of providing real incentives in stated choice experiments

    DEFF Research Database (Denmark)

    Mørkbak, Morten Raun; Olsen, Søren Bøye; Campbell, Danny

    2014-01-01

    the scope of research to other behavioral aspects where consumers in CE are often found to deviate from homo economicus. We develop a theoretical model where not only Willingness to pay (WTP) measures but also decision processing can be affected by the introduction of an economic incentive. Specifically...... incentive, we find marked benefits in relation to a number of behavioral aspects that together would favor the use of an economic incentive regardless of hypothetical bias being present or not....

  2. 42 CFR 495.310 - Medicaid provider incentive payments.

    Science.gov (United States)

    2010-10-01

    ... hospital incentive amount is calculated as the product of the (overall EHR amount) times (the Medicaid... hospital (regardless of any source of payment): (1) For the first through 1,149th discharge, $0. (2) For... Medicaid EP or eligible hospital may receive an incentive payment from only one State in a payment year. (f...

  3. Altruism, Conformism, and Incentives in the Workplace

    OpenAIRE

    Tichem, Jan

    2014-01-01

    markdownabstractPerformance pay can motivate employees, but money is not the only motivation in the workplace. Altruism, which means that someone enjoys the well-being of someone else, can also provide a powerful motivation. The first part of this thesis studies theoretically how altruism between an employee and his superior affects the optimal use of monetary incentives. Among others, the analysis reveals how altruism influences the credibility of monetary incentive schemes, and how altruist...

  4. Measuring the impact of non-monetary incentives on facility delivery in rural Zambia: a clustered randomised controlled trial.

    Science.gov (United States)

    Wang, P; Connor, A L; Guo, E; Nambao, M; Chanda-Kapata, P; Lambo, N; Phiri, C

    2016-04-01

    In Zambia, only 56% of rural women deliver in a health facility, and improving facility delivery rates is a priority of the Zambian government. 'Mama kit' incentives - small packages of childcare items provided to mothers conditional on delivering their baby in a facility - may encourage facility delivery. This study measured the impact and cost-effectiveness of a US$4 mama kit on rural facility delivery rates in Zambia. A clustered randomised controlled trial was used to measure the impact of mama kits on facility delivery rates in thirty rural health facilities in Serenje and Chadiza districts. Facility-level antenatal care and delivery registers were used to measure the percentage of women attending antenatal care who delivered at a study facility during the intervention period. Results from the trial were then used to model the cost-effectiveness of mama kits at-scale in terms of cost per death averted. The mama kits intervention resulted in a statistically significant increase in facility delivery rates. The multivariate logistic regression found that the mama kits intervention increased the odds of delivering at a facility by 63% (P-value < 0.01, 95% CI: 29%, 106%), or an increase of 9.9 percentage points, yielding a cost-effectiveness of US$5183 per death averted. This evaluation confirms that low-cost mama kits can be a cost-effective intervention to increase facility delivery rates in rural Zambia. Mama kits alone are unlikely to completely solve safe delivery challenges but should be embedded in larger maternal and child health programmes. © 2016 John Wiley & Sons Ltd.

  5. Effect of non-monetary incentives on uptake of couples' counselling and testing among clients attending mobile HIV services in rural Zimbabwe: a cluster-randomised trial.

    Science.gov (United States)

    Sibanda, Euphemia L; Tumushime, Mary; Mufuka, Juliet; Mavedzenge, Sue Napierala; Gudukeya, Stephano; Bautista-Arredondo, Sergio; Hatzold, Karin; Thirumurthy, Harsha; McCoy, Sandra I; Padian, Nancy; Copas, Andrew; Cowan, Frances M

    2017-09-01

    participants who completed the telephone survey, 11 (2·6%) reported that they were pressured or themselves pressured their partner to test together; none regretted couples' testing. Relationship unrest was reported by eight individuals (1·9%), although none attributed this to incentives. Small non-monetary incentives, which are potentially scalable, were associated with significantly increased CHTC and HIV case diagnosis. Incentives did not increase social harms beyond the few typically encountered with CHTC without incentives. The intervention could help achieve UNAIDS 90-90-90 targets. The study was funded by the UK Department for International Development, Irish AID, and Swedish SIDA, through Population Services International Zimbabwe under the Integrated Support Program. Copyright © 2017 The Author(s). Published by Elsevier Ltd. This is an Open Access article under the CC BY-NC-ND 4.0 license. Published by Elsevier Ltd.. All rights reserved.

  6. Impact of Provider Incentives on Quality and Value of Health Care.

    Science.gov (United States)

    Doran, Tim; Maurer, Kristin A; Ryan, Andrew M

    2017-03-20

    The use of financial incentives to improve quality in health care has become widespread. Yet evidence on the effectiveness of incentives suggests that they have generally had limited impact on the value of care and have not led to better patient outcomes. Lessons from social psychology and behavioral economics indicate that incentive programs in health care have not been effectively designed to achieve their intended impact. In the United States, Medicare's Hospital Readmission Reduction Program and Hospital Value-Based Purchasing Program, created under the Affordable Care Act (ACA), provide evidence on how variations in the design of incentive programs correspond with differences in effect. As financial incentives continue to be used as a tool to increase the value and quality of health care, improving the design of programs will be crucial to ensure their success.

  7. Compliance Performance: Effects of a Provider Incentive Program and Coding Compliance Plan

    National Research Council Canada - National Science Library

    Tudela, Joseph A

    2004-01-01

    ...) and select attributes and experience/training variables. For BAMC's provider incentive program, analysis reveals statistical significance for record compliance rates with data dated measures, F(underscored)(1,103)= 4.74, p(underscored) = .03...

  8. Provider and Patient Directed Financial Incentives to Improve Care and Outcomes for Patients with Diabetes

    Science.gov (United States)

    Lorincz, Ilona S.; Lawson, Brittany C. T.

    2012-01-01

    Incentive programs directed at both providers and patients have become increasingly widespread. Pay-for-performance (P4P) where providers receive financial incentives to carry out specific care or improve clinical outcomes has been widely implemented. The existing literature indicates they probably spur initial gains which then level off or partially revert if incentives are withdrawn. The literature also indicates that process measures are easier to influence through P4P programs but that intermediate outcomes such as glucose, blood pressure, and cholesterol control are harder to influence, and the long term impact of P4P programs on health is largely unknown. Programs directed at patients show greater promise as a means to influence patient behavior and intermediate outcomes such as weight loss; however, the evidence for long term effects are lacking. In combination, both patient and provider incentives are potentially powerful tools but whether they are cost-effective has yet to be determined. PMID:23225214

  9. The influence of monetary incentives on context processing in younger and older adults: an event-related potential study.

    Science.gov (United States)

    Schmitt, Hannah; Ferdinand, Nicola K; Kray, Jutta

    2015-06-01

    Recent evidence has indicated that neuronal activity related to reward anticipation benefits subsequent stimulus processing, but the effect of penalties remains largely unknown. Since the dual-mechanisms-of-control theory (DMC; Braver & Barch, Neuroscience and Biobehavioral Reviews, 26, 809-81, 2002) assumes that temporal differences in context updating underlie age differences in cognitive control, in this study we investigated whether motivational cues (signaling the chance to win or the risk to lose money, relative to neutral cues) preceding context information in a modified AX-CPT paradigm influence the temporal stages of context processing in younger and older adults. In the behavioral data, younger adults benefited from gain cues, evident in their enhanced context updating, whereas older adults exhibited slowed responding after motivational cues, irrespective of valence. Event-related potentials (ERPs) revealed that the enhanced processing of motivational cues in the P2 and P3b was mainly age-invariant, whereas age-differential effects were found for the ERP correlates of context processing. Younger adults showed improved context maintenance (i.e., a larger negative-going CNV), as well as increased conflict detection (larger N450) and resolution (indicated by a sustained positivity), whenever incorrect responding would lead to a monetary loss. In contrast, motivationally salient cues benefited context representations (in cue-locked P3b amplitudes), but increased working memory demands during response preparation (via a temporally prolonged P3b) in older adults. In sum, motivational valence and salience effects differentially modulated the temporal stages of context processing in younger and older adults. These results are discussed in terms of the DMC theory, recent findings of emotion regulation in old age, and the relationship between cognitive and affective processing.

  10. Measuring Provider Performance for Physicians Participating in the Merit-Based Incentive Payment System.

    Science.gov (United States)

    Squitieri, Lee; Chung, Kevin C

    2017-07-01

    In 2017, the Centers for Medicare and Medicaid Services began requiring all eligible providers to participate in the Quality Payment Program or face financial reimbursement penalty. The Quality Payment Program outlines two paths for provider participation: the Merit-Based Incentive Payment System and Advanced Alternative Payment Models. For the first performance period beginning in January of 2017, the Centers for Medicare and Medicaid Services estimates that approximately 83 to 90 percent of eligible providers will not qualify for participation in an Advanced Alternative Payment Model and therefore must participate in the Merit-Based Incentive Payment System program. The Merit-Based Incentive Payment System path replaces existing quality-reporting programs and adds several new measures to evaluate providers using four categories of data: (1) quality, (2) cost/resource use, (3) improvement activities, and (4) advancing care information. These categories will be combined to calculate a weighted composite score for each provider or provider group. Composite Merit-Based Incentive Payment System scores based on 2017 performance data will be used to adjust reimbursed payment in 2019. In this article, the authors provide relevant background for understanding value-based provider performance measurement. The authors also discuss Merit-Based Incentive Payment System reporting requirements and scoring methodology to provide plastic surgeons with the necessary information to critically evaluate their own practice capabilities in the context of current performance metrics under the Quality Payment Program.

  11. The influence of provider characteristics and market forces on response to financial incentives.

    Science.gov (United States)

    O'Neil, Brock; Tyson, Mark; Graves, Amy J; Barocas, Daniel A; Chang, Sam S; Penson, David F; Resnick, Matthew J

    2017-11-01

    Alternative payment models, such as accountable care organizations, use financial incentives as levers for change to facilitate the transition from volume to value. However, implementation raises concerns about adverse changes in market competition and the resultant physician response. We sought to identify physician characteristics and market-level factors associated with variation in response to financial incentives for cancer care that may ultimately be leveraged in risk-shared payment models. Retrospective cohort study of physicians providing minimally invasive bladder cancer procedures to fee-for-service Medicare beneficiaries. We examined the relationship of between-group differences in market-level factors (competition [Herfindahl-Hirschman Index (HHI)] and provider density) and physician-level factors (use of unique billing codes, number of billing codes per patient, and competing financial interest) to responsiveness to financial incentives. Incentive-responsive providers had increased odds (odds ratio [OR], 1.19; 95% CI, 1.04-1.35) of practicing in markets with the highest quartile of provider density but not HHI (OR, 0.96; 95% CI, 0.87-1.05). Incentive-responsive providers were more likely to bill in the highest quartile for unique codes (OR, 1.49; 95% CI, 1.32-1.69) and codes per patient (OR, 1.18; 95% CI, 1.11-1.25) and less likely to have a competing financial interest (OR, 0.76; 95% CI, 0.72-0.81). Responsiveness to financial incentives in cancer care is associated with high market provider density, profit-maximizing billing behavior, and lack of competing financial ownership interests. Identifying physicians and markets responsive to financial incentives may ultimately promote the successful implementation of alternative payment models in cancer care.

  12. Effectiveness of UK provider financial incentives on quality of care: a systematic review.

    Science.gov (United States)

    Mandavia, Rishi; Mehta, Nishchay; Schilder, Anne; Mossialos, Elias

    2017-11-01

    Provider financial incentives are being increasingly adopted to help improve standards of care while promoting efficiency. To review the UK evidence on whether provider financial incentives are an effective way of improving the quality of health care. Systematic review of UK evidence, undertaken in accordance with Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) recommendations. MEDLINE and Embase databases were searched in August 2016. Original articles that assessed the relationship between UK provider financial incentives and a quantitative measure of quality of health care were included. Studies showing improvement for all measures of quality of care were defined as 'positive', those that were 'intermediate' showed improvement in some measures, and those classified as 'negative' showed a worsening of measures. Studies showing no effect were documented as such. Quality was assessed using the Downs and Black quality checklist. Of the 232 published articles identified by the systematic search, 28 were included. Of these, nine reported positive effects of incentives on quality of care, 16 reported intermediate effects, two reported no effect, and one reported a negative effect. Quality assessment scores for included articles ranged from 15 to 19, out of a maximum of 22 points. The effects of UK provider financial incentives on healthcare quality are unclear. Owing to this uncertainty and their significant costs, use of them may be counterproductive to their goal of improving healthcare quality and efficiency. UK policymakers should be cautious when implementing these incentives - if used, they should be subject to careful long-term monitoring and evaluation. Further research is needed to assess whether provider financial incentives represent a cost-effective intervention to improve the quality of care delivered in the UK. © British Journal of General Practice 2017.

  13. Effectiveness of providing financial incentives to healthcare professionals for smoking cessation activities: systematic review.

    Science.gov (United States)

    Hamilton, F L; Greaves, F; Majeed, A; Millett, C

    2013-01-01

    Financial incentives are seen as one approach to encourage more systematic use of smoking cessation interventions by healthcare professionals. A systematic review was conducted to examine the evidence for this. Medline, Embase, PsychINFO, Cochrane Library, ISI Web of Science and sources of grey literature were used as data sources. Studies were included if they reported the effects of any financial incentive provided to healthcare professionals to undertake smoking cessation-related activities. Data extraction and quality assessment for each study were conducted by one reviewer and checked by a second. A total of 18 studies were identified, consisting of 3 randomised controlled trials and 15 observational studies. All scored in the mid range for quality. In all, 8 studies examined smoking cessation activities alone and 10 studied the UK's Quality and Outcomes Framework targeting quality measures for chronic disease management including smoking recording or cessation activities. Five non-Quality and Outcomes Framework studies examined the effects of financial incentives on individual doctors and three examined effects on groups of healthcare professionals based in clinics and general practices. Most studies showed improvements in recording smoking status and smoking cessation advice. Five studies examined the impact of financial incentives on quit rates and longer-term abstinence and these showed mixed results. Financial incentives appear to improve recording of smoking status, and increase the provision of cessation advice and referrals to stop smoking services. Currently there is not sufficient evidence to show that financial incentives lead to reductions in smoking rates.

  14. Acute naltrexone does not remediate fronto-striatal disturbances in alcoholic and alcoholic polysubstance-dependent populations during a monetary incentive delay task.

    Science.gov (United States)

    Nestor, Liam J; Murphy, Anna; McGonigle, John; Orban, Csaba; Reed, Laurence; Taylor, Eleanor; Flechais, Remy; Paterson, Louise M; Smith, Dana; Bullmore, Edward T; Ersche, Karen D; Suckling, John; Tait, Roger; Elliott, Rebecca; Deakin, Bill; Rabiner, Ilan; Lingford-Hughes, Anne; Nutt, David J; Sahakian, Barbara; Robbins, Trevor W

    2017-11-01

    There is a concerted research effort to investigate brain mechanisms underlying addiction processes that may predicate the development of new compounds for treating addiction. One target is the brain's opioid system, because of its role in the reinforcing effects of substances of abuse. Substance-dependent populations have increased numbers of the mu opioid receptor (MOR) in fronto-striatal regions that predict drug relapse, and demonstrate disturbances in these regions during the processing of non-drug rewards. Naltrexone is currently licensed for alcohol and opiate dependence, and may remediate such disturbances through the blockade of MORs in fronto-striatal reward circuitry. Therefore, we examined the potential acute modulating effects of naltrexone on the anticipation of, and instrumental responding for, non-drug rewards in long-term abstinent alcoholics, alcoholic poly substance-dependent individuals and controls using a monetary incentive delay (MID) task during a randomized double blind placebo controlled functional MRI study. We report that the alcoholic poly substance-dependent group exhibited slower and less accurate instrumental responding compared to alcoholics and controls that was less evident after acute naltrexone treatment. However, naltrexone treatment was unable to remediate disturbances within fronto-striatal regions during reward anticipation and 'missed' rewards in either substance-dependent group. While we have not been able to identify the underlying neural mechanisms for improvement observed with naltrexone in the alcoholic poly-substance dependent group, we can confirm that both substance-dependent groups exhibit substantial neural deficits during an MID task, despite being in long-term abstinence. © 2016 Society for the Study of Addiction.

  15. Managing charging loads of electric vehicles by monetary incentives. A model-based optimization; Monetaere Anreize zur Steuerung der Ladelast von Elektrofahrzeugen. Eine modellgestuetzte Optimierung

    Energy Technology Data Exchange (ETDEWEB)

    Paetz, Alexandra-Gwyn; Kaschub, Thomas; Kopp, Martin; Jochem, Patrick; Fichtner, Wolf [Karlsruher Institut fuer Technologie, Karlsruhe (Germany). Inst. fuer Industriebetriebslehre und Industrielle Produktion

    2013-03-15

    Electric mobility is supposed to contribute to climate policy targets by reducing CO{sub 2}-emissions in the transportation sector. Increasing penetration rates of electric vehicles (EV) can lead to new challenges in the electricity sector, especially with regard to local distribution networks. Thus the management of charging loads is discussed as a key issue in energy economics. Due to their long parking times, high electricity and power demand, EV seem to be predestined for load management. Monetary incentives as dynamic pricing can be suitable for that: They reflect the current supply situation, pass the information to the consumers and can thus lead to a corresponding charging behaviour. In this article we analyse this interaction between dynamic pricing and charging loads. For this reason we have developed the optimization model DS-Opt+. It models a total number of 4,000 households in two residential areas of a major city with regard to its electricity demand, its mobility behaviour and its equipment of photovoltaic systems. Four different pricing models are tested for their effects on charging behaviour and thus the total load of the residential area. The results illustrate that only fairly high penetration rates of EV lead to remarkably higher electricity demand and require some load management. The tested dynamic pricing models are suitable for influencing charging loads; load-based tariffs are best in achieving a balanced load curve. In our analysis uncontrolled charging strategies are superior regarding a balanced load curve than controlled strategies by time-varying tariffs. Our results lead to several implications relevant for the energy industry and further research.

  16. I Don’t Want to Miss a Thing – Learning Dynamics and Effects of Feedback Type and Monetary Incentive in a Paired Associate Deterministic Learning Task

    Directory of Open Access Journals (Sweden)

    Magda Gawlowska

    2017-06-01

    Full Text Available Effective functioning in a complex environment requires adjusting of behavior according to changing situational demands. To do so, organisms must learn new, more adaptive behaviors by extracting the necessary information from externally provided feedback. Not surprisingly, feedback-guided learning has been extensively studied using multiple research paradigms. The purpose of the present study was to test the newly designed Paired Associate Deterministic Learning task (PADL, in which participants were presented with either positive or negative deterministic feedback. Moreover, we manipulated the level of motivation in the learning process by comparing blocks with strictly cognitive, informative feedback to blocks where participants were additionally motivated by anticipated monetary reward or loss. Our results proved the PADL to be a useful tool not only for studying the learning process in a deterministic environment, but also, due to the varying task conditions, for assessing differences in learning patterns. Particularly, we show that the learning process itself is influenced by manipulating both the type of feedback information and the motivational significance associated with the expected monetary reward.

  17. Monetary incentives and environmental concern

    DEFF Research Database (Denmark)

    Thøgersen, John

    1994-01-01

    Artiklen gennemfører en teoretisk og empirisk diskussion af anvendelsen af økonomiske incitamenter til fremme af miljøvenlig adfærd med særlig henblik på kildesortering af husholdningsaffald. Der argumenteres for, at de fleste forbrugeres holdning til kildesortering er moralsk begrundet, og at my...

  18. Evaluating Patient Preferences for Different Incentive Programs to Optimize Pharmacist-Provided Patient Care Program Enrollment.

    Science.gov (United States)

    Tomaszewski, Daniel; Cernohous, Tim; Vaidyanathan, Rajiv

    2017-11-01

    Employers have increased efforts to engage employees in health and wellness programs. Providing employees with incentives to participate in these programs has been shown to improve overall enrollment and engagement. One program that has had challenges with enrollment and engagement is medication therapy management (MTM). To (a) determine how individuals evaluate different financial incentives to improve participation in an MTM program and (b) measure the effect of participant characteristics on incentive preference. This study was composed of a paper-based survey administered to participants after focus group sessions. Participants included MTM-eligible beneficiaries from 2 employer groups and included MTM-naive and MTM-experienced participants. Incentive preference was measured based on 3 bipolar scales that compared 3 incentives: $100 gift certificates, $8 copay reduction for 6 months, and $100 added to paycheck. A total of 72 participants completed the survey: 34 participants were MTM experienced, and 38 were MTM naive. Overall participant preference reporting resulted in inconsistencies. Copay reduction was preferred to a gift certificate (55.6% vs. 37.5%); money in paycheck was preferred over copay reduction (48.6% vs. 40.3%); and gift certificates were preferred over money in paycheck (56.9% vs. 22.2%). However, subgroup analysis resulted in a more consistent preference reporting, with MTM-experienced participants consistently preferring copay reduction over gift certificates (67.6% vs. 23.5%) and money in paycheck (55.9% vs. 29.4%). MTM-naive participants preferred a gift certificate over copay reduction (51.4% vs. 44.7%) and cash in paycheck (68.4% vs. 23.7%). The results of this study suggest that gift certificates were preferred by MTM-naive participants, which supports the use of gift certificates as an incentive for MTM-naive patients to enroll in an MTM program. Conversely, the use of a copay reduction program was preferred by MTM

  19. Use of monetary and nonmonetary incentives to increase response rates among African Americans in the Wisconsin Pregnancy Risk Assessment Monitoring System.

    Science.gov (United States)

    Dykema, Jennifer; Stevenson, John; Kniss, Chad; Kvale, Katherine; González, Kim; Cautley, Eleanor

    2012-05-01

    From 2009 to 2010, an experiment was conducted to increase response rates among African American mothers in the Wisconsin Pregnancy Risk Assessment Monitoring System (PRAMS). Sample members were randomly assigned to groups that received a prepaid, cash incentive of $5 (n = 219); a coupon for diapers valued at $6 (n = 210); or no incentive (n = 209). Incentives were included with the questionnaire, which was mailed to respondents. We examined the effects of the incentives on several outcomes, including response rates, cost effectiveness, survey response distributions, and item nonresponse. Response rates were significantly higher for the cash group than for the coupon (42.5 vs. 32.4%, P < .05) or no incentive group (42.5 vs. 30.1%, P < .01); the coupon and no incentive groups performed similarly. While absolute costs were the highest for the cash group, the cost per completed survey was the lowest. The incentives had limited effects on response distributions for specific survey questions. Although respondents completing the survey by mail in the cash and coupon groups exhibited a trend toward being less likely to have missing data, the effect was not significant. Compared to a coupon or no incentive, a small cash incentive significantly improved response rates and was cost effective among African American respondents in Wisconsin PRAMS. Incentives had only limited effects, however, on survey response distributions, and no significant effects on item nonresponse.

  20. Pay for Environmental Performance: The Effect of Incentive Provision on Carbon Emissions

    OpenAIRE

    Robert G. Eccles; Ioannou, Ioannis; Li, Shelley Xin; Serafeim, Georgios

    2012-01-01

    Corporations are increasingly under pressure to improve their environmental performance and to account for potential risks and opportunities associated with climate change. In this paper, we examine the effectiveness of monetary and nonmonetary incentives provided by companies to their employees in order to reduce carbon emissions. Specifically, we find evidence that the use of monetary incentives is associated with higher carbon emissions. This result holds both in cross-sectional and time-s...

  1. 42 CFR 495.370 - Appeals process for a Medicaid provider receiving electronic health record incentive payments.

    Science.gov (United States)

    2010-10-01

    ... electronic health record incentive payments. 495.370 Section 495.370 Public Health CENTERS FOR MEDICARE... STANDARDS FOR THE ELECTRONIC HEALTH RECORD TECHNOLOGY INCENTIVE PROGRAM Requirements Specific to the Medicaid Program § 495.370 Appeals process for a Medicaid provider receiving electronic health record...

  2. The right incentives enable ocean sustainability successes and provide hope for the future.

    Science.gov (United States)

    Lubchenco, Jane; Cerny-Chipman, Elizabeth B; Reimer, Jessica N; Levin, Simon A

    2016-12-20

    Healthy ocean ecosystems are needed to sustain people and livelihoods and to achieve the United Nations Sustainable Development Goals. Using the ocean sustainably requires overcoming many formidable challenges: overfishing, climate change, ocean acidification, and pollution. Despite gloomy forecasts, there is reason for hope. New tools, practices, and partnerships are beginning to transform local fisheries, biodiversity conservation, and marine spatial planning. The challenge is to bring them to a global scale. We dissect recent successes using a complex adaptive-systems (CAS) framework, which acknowledges the interconnectedness of social and ecological systems. Understanding how policies and practices change the feedbacks in CASs by altering the behavior of different system components is critical for building robust, sustainable states with favorable emergent properties. Our review reveals that altering incentives-either economic or social norms, or both-can achieve positive outcomes. For example, introduction of well-designed rights-based or secure-access fisheries and ecosystem service accounting shifts economic incentives to align conservation and economic benefits. Modifying social norms can create conditions that incentivize a company, country, or individual to fish sustainably, curb illegal fishing, or create large marine reserves as steps to enhance reputation or self-image. In each example, the feedbacks between individual actors and emergent system properties were altered, triggering a transition from a vicious to a virtuous cycle. We suggest that evaluating conservation tools by their ability to align incentives of actors with broader goals of sustainability is an underused approach that can provide a pathway toward scaling sustainability successes. In short, getting incentives right matters.

  3. The effect of financial incentives on the quality of health care provided by primary care physicians.

    Science.gov (United States)

    Scott, Anthony; Sivey, Peter; Ait Ouakrim, Driss; Willenberg, Lisa; Naccarella, Lucio; Furler, John; Young, Doris

    2011-09-07

    The use of blended payment schemes in primary care, including the use of financial incentives to directly reward 'performance' and 'quality' is increasing in a number of countries. There are many examples in the US, and the Quality and Outcomes Framework (QoF) for general practitioners (GPs) in the UK is an example of a major system-wide reform. Despite the popularity of these schemes, there is currently little rigorous evidence of their success in improving the quality of primary health care, or of whether such an approach is cost-effective relative to other ways to improve the quality of care. The aim of this review is to examine the effect of changes in the method and level of payment on the quality of care provided by primary care physicians (PCPs) and to identify:i) the different types of financial incentives that have improved quality;ii) the characteristics of patient populations for whom quality of care has been improved by financial incentives; andiii) the characteristics of PCPs who have responded to financial incentives. We searched the Cochrane Effective Practice and Organisation of Care (EPOC) Trials Register, Cochrane Central Register of Controlled Trials (CENTRAL) and Cochrane Database of Systematic Reviews (CDSR) (The Cochrane Library), MEDLINE, HealthSTAR, EMBASE, CINAHL, PsychLIT, and ECONLIT. Searches of Internet-based economics and health economics working paper collections were also conducted. Finally, studies were identified through the reference lists of retrieved articles, websites of key organisations, and from direct contact with key authors in the field. Articles were included if they were published from 2000 to August 2009. Randomised controlled trials (RCT), controlled before and after studies (CBA), and interrupted time series analyses (ITS) evaluating the impact of different financial interventions on the quality of care delivered by primary healthcare physicians (PCPs). Quality of care was defined as patient reported outcome

  4. Financial assistance for investments in wind power in Germany. Business incentives provided by the Deutsche Ausgleichsbank

    Energy Technology Data Exchange (ETDEWEB)

    Koch, M. [Deutsche Ausgleichsbank, Bonn (Germany)

    1995-12-31

    Within a generous financial framework investments in wind energy power have rapidly increased in Germany since the late 1980`s. In addition to direct subsidies or incentive stipulated by statutory provisions the DtA has encouraged investments in wind energy projects by loans at preferential interest rates with tremendous success and it will continue to do so. At present especially new ways of supporting environmental investments are being seek which have a cross-border environmental impact. The goal is to provide financial assistance both to domestic and foreign companies willing to invest in transboundary projects which may be located in East European Countries

  5. Large performance incentives had the greatest impact on providers whose quality metrics were lowest at baseline.

    Science.gov (United States)

    Greene, Jessica; Hibbard, Judith H; Overton, Valerie

    2015-04-01

    This study examined the impact of Fairview Health Services' primary care provider compensation model, in which 40 percent of compensation was based on clinic-level quality outcomes. Fairview Health Services is a Pioneer accountable care organization in Minnesota. Using publicly reported performance data from 2010 and 2012, we found that Fairview's improvement in quality metrics was not greater than the improvement in other comparable Minnesota medical groups. An analysis of Fairview's administrative data found that the largest predictor of improvement over the first two years of the compensation model was primary care providers' baseline quality performance. Providers whose baseline performance was in the lowest tertile improved three times more, on average, across the three quality metrics studied than those in the middle tertile, and almost six times more than those in the top tertile. As a result, there was a narrowing of variation in performance across all primary care providers at Fairview and a narrowing of the gap in quality between providers who treated the highest-income patient panels and those who treated the lowest-income panels. The large quality incentive fell short of its overall quality improvement aim. However, the results suggest that payment reform may help narrow variation in primary care provider performance, which can translate into narrowing socioeconomic disparities. Project HOPE—The People-to-People Health Foundation, Inc.

  6. The Medicare Electronic Health Record Incentive Program: provider performance on core and menu measures.

    Science.gov (United States)

    Wright, Adam; Feblowitz, Joshua; Samal, Lipika; McCoy, Allison B; Sittig, Dean F

    2014-02-01

    To measure performance by eligible health care providers on CMS's meaningful use measures. Medicare Electronic Health Record Incentive Program Eligible Professionals Public Use File (PUF), which contains data on meaningful use attestations by 237,267 eligible providers through May 31, 2013. Cross-sectional analysis of the 15 core and 10 menu measures pertaining to use of EHR functions reported in the PUF. Providers in the dataset performed strongly on all core measures, with the most frequent response for each of the 15 measures being 90-100 percent compliance, even when the threshold for a particular measure was lower (e.g., 30 percent). PCPs had higher scores than specialists for computerized order entry, maintaining an active medication list, and documenting vital signs, while specialists had higher scores for maintaining a problem list, recording patient demographics and smoking status, and for providing patients with an after-visit summary. In fact, 90.2 percent of eligible providers claimed at least one exclusion, and half claimed two or more. Providers are successfully attesting to CMS's requirements, and often exceeding the thresholds required by CMS; however, some troubling patterns in exclusions are present. CMS should raise program requirements in future years. © Health Research and Educational Trust.

  7. In-Center Nutrition Practices of Clinics within a Large Hemodialysis Provider in the United States.

    Science.gov (United States)

    Benner, Debbie; Burgess, Mary; Stasios, Maria; Brosch, Becky; Wilund, Ken; Shen, Sa; Kistler, Brandon

    2016-05-06

    Eating during hemodialysis treatment remains a controversial topic. It is perceived that more restrictive practices in the United States contribute to poorer nutritional status and elevated mortality compared with some other parts of the world. However, in-center food practices in the United States have not been previously described. In 2011, we conducted a survey of clinic practices and clinician (dietitian, facility administrator, and medical director) opinions related to in-center food consumption within a large dialysis organization. After the initial survey, we provided clinicians with educational materials about eating during treatment. In 2014, we performed a follow-up survey. Differences in practices and opinions were analyzed using chi-squared tests and logistic regression. In 2011, 343 of 1199 clinics (28.6%) did not allow eating during treatment, 222 clinics (18.2%) did not allow drinking during treatment, and 19 clinics (1.6%) did not allow eating at the facility before or after treatment. In 2014, the proportion of clinics that did not allow eating during treatment had declined to 22.6% (321 of 1422 clinics), a significant shift in practice (Pnutritional status. Among clinicians, a higher percentage encouraged eating during treatment (53.1% versus 37.4%; P<0.05), and facility administrators and medical directors were less concerned about the seven reasons commonly cited for restricting eating during treatment in 2014 compared with 2011 (P<0.05 for all). We found that 28.6% and 22.6% of hemodialysis clinics within the United States restricted eating during treatment in 2011 and 2014, respectively, a rate more than double that found in an international cohort on which we previously published. However, practices and clinician opinions are shifting toward allowing patients to eat. Additional research is warranted to understand the effect that these practices have on patient outcomes and outline best practices. Copyright © 2016 by the American Society of

  8. Effect of provider and patient reminders, deployment of nurse practitioners, and financial incentives on cervical and breast cancer screening rates.

    Science.gov (United States)

    Kaczorowski, Janusz; Hearps, Stephen J C; Lohfeld, Lynne; Goeree, Ron; Donald, Faith; Burgess, Ken; Sebaldt, Rolf J

    2013-06-01

    To evaluate the effect of the Provider and Patient Reminders in Ontario: Multi-Strategy Prevention Tools (P-PROMPT) reminder and recall system and pay-for-performance incentives on the delivery rates of cervical and breast cancer screening in primary care practices in Ontario, with or without deployment of nurse practitioners (NPs). Before-and-after comparisons of the time-appropriate delivery rates of cervical and breast cancer screening using the automated and NP-augmented strategies of the P-PROMPT reminder and recall system. Southwestern Ontario. A total of 232 physicians from 24 primary care network or family health network groups across 110 different sites eligible for pay-for-performance incentives. The P-PROMPT project combined pay-for-performance incentives with provider and patient reminders and deployment of NPs to enhance the delivery of preventive care services. The mean delivery rates at the practice level of time-appropriate mammograms and Papanicolaou tests completed within the previous 30 months. Before-and-after comparisons of time-appropriate delivery rates (performance incentives resulted in increases in the uptake of Pap tests and mammograms among eligible primary care patients over a 1-year period in family practices in Ontario.

  9. Monetary Policy Analysis in Serbia

    Directory of Open Access Journals (Sweden)

    Martin Vesna

    2015-09-01

    Full Text Available The paper focuses on analysing monetary policy in Serbia. The National Bank of Serbia chose inflation targeting, which sets price stability as the main objective of monetary policy. To achieve this goal, the central bank uses different monetary policy instruments which analysis can provide us with the understanding of the main directions of their actions but also of the limitations of its application. Only through improvement of both instruments and monetary policy the central bank will create a better foundation for achieving monetary stability. In addition, the implementation of exchange rate policy is entrusted to the National Bank of Serbia, as the main regulator of the financial system. A mere use of managed floating exchange rate, as the chosen exchange rate regime, is an appropriate solution in the current economic circumstances and in accordance with the desired objective of monetary policy.

  10. Unioni monetarie: una prospettiva teorica

    Directory of Open Access Journals (Sweden)

    F. CESARANO

    2013-10-01

    Full Text Available The work provides a theoretical analysis of monetary policy and unification in light of today’s debate among academic economists on EMU. A brief survey of the main issues concerning monetary policy is presented. The author then puts the subject in a broader perspective, showing that central questions concerning the optimality of currency areas are strictly related to the theory of monetary policy and, particularly, to the effectiveness of domestic monetary actions. Since participation in a monetary union implies loss of monetary sovereignty, the issue at hand is evaluating the effects of this loss on social welfare. Hence, the author argues that federal fiscal policy can play a crucial role in the adjustment mechanism.  JEL Codes: F15, E52 

  11. Incentives for breastfeeding and for smoking cessation in pregnancy: an exploration of types and meanings.

    Science.gov (United States)

    Crossland, Nicola; Thomson, Gill; Morgan, Heather; Dombrowski, Stephan U; Hoddinott, Pat

    2015-03-01

    Financial or tangible incentives are a strategy for improving health behaviours. The mechanisms of action of incentives are complex and debated. Using a multidisciplinary integrated mixed methods study, with service-user collaboration throughout, we developed a typology of incentives and their meanings for initiating and sustaining smoking cessation in pregnancy and breastfeeding. The ultimate aim was to inform incentive intervention design by providing insights into incentive acceptability and mechanisms of action. Systematic evidence syntheses of incentive intervention studies for smoking cessation in pregnancy or breastfeeding identified incentive characteristics, which were developed into initial categories. Little published qualitative data on user perspectives and acceptability was available. Qualitative interviews and focus groups conducted in three UK regions with a diverse socio-demographic sample of 88 women and significant others from the target population, 53 service providers, 24 experts/decision makers, and conference attendees identified new potential incentives and providers, with and without experience of incentives. Identified incentives (published and emergent) were classified into eight categories: cash and shopping vouchers, maternal wellbeing, baby and pregnancy-related, behaviour-related, health-related, general utility, awards and certificates, and experiences. A typology was refined iteratively through concurrent data collection and thematic analysis to explore participants' understandings of 'incentives' and to compare and contrast meanings across types. Our typology can be understood in three dimensions: the degree of restriction, the extent to which each is hedonic and/or utilitarian, and whether each has solely monetary value versus monetary with added social value. The layers of autonomy, meanings and the social value of incentive types influence their acceptability and interact with structural, social, and personal factors. Dimensions

  12. Monetary Romanticism

    DEFF Research Database (Denmark)

    Ravn Sørensen, Anders

    2013-01-01

    Recurring debates on the common European currency illustrate that monetary organisation and issues of national identity and community are closely interlinked. National sentiments and ideas about the nation continuously inform public attitudes towards currencies. This article addresses...... the interrelation between monetary organisation and nationalism. In the conflict between the Danish state and the Duchies of Schleswig-Holstein in the nineteenth century, banks and currencies were mobilised as political symbols to promote an agenda of regional nationalism. The local Schleswig-Holstein currency...... and the local Schleswig-Holsteinische Landesbank became symbolic antagonists to the Danish central bank and to the official state-sanctioned currency – which by Danish policy-makers were considered key elements in the attempt to consolidate the Danish state and curtail Hamburg's economic influence. The analysis...

  13. The Channels of Monetary Transmission: Lessons for Monetary Policy

    OpenAIRE

    Mishkin, Frederic S.

    1996-01-01

    This paper provides an overview of the transmission mechanisms of monetary policy, starting with traditional interest rate channels, going on to channels operating through other asset prices, and then on to the so-called credit channels. The paper then discusses the implications from this literature for how central banks might best conduct monetary policy.

  14. Intermediaries in Trust: Indirect Reciprocity, Incentives, and Norms

    Directory of Open Access Journals (Sweden)

    Giangiacomo Bravo

    2015-01-01

    Full Text Available Any trust situation involves a certain amount of risk for trustors that trustees could abuse. In some cases, intermediaries exist who play a crucial role in the exchange by providing reputational information. To examine under what conditions intermediary opinion could have a positive impact on cooperation, we designed two experiments based on a modified version of the investment game where intermediaries rated the behaviour of trustees under various incentive schemes and different role structures. We found that intermediaries can increase trust if there is room for indirect reciprocity between the involved parties. We also found that the effect of monetary incentives and social norms cannot be clearly separable in these situations. If properly designed, monetary incentives for intermediaries can have a positive effect. On the one hand, when intermediary rewards are aligned with the trustor’s interest, investments and returns tend to increase. On the other hand, fixed monetary incentives perform less than any other incentive schemes and endogenous social norms in ensuring trust and fairness. These findings should make us reconsider the mantra of incentivization of social and public conventional policy.

  15. The cost-effectiveness of using financial incentives to improve provider quality: a framework and application

    DEFF Research Database (Denmark)

    Meacock, R.; Kristensen, Søren Rud; Sutton, M.

    2014-01-01

    , and whether performance improvement is a transitory or investment activity. Our application to the Advancing Quality initiative demonstrates that the incentive payments represented less than half of the 13m pound total programme costs. By generating approximately 5200 quality-adjusted life years and 4.4m......Despite growing adoption of pay-for-performance (P4P) programmes in health care, there is remarkably little evidence on the cost-effectiveness of such schemes. We review the limited number of previous studies and critique the frameworks adopted and the narrow range of costs and outcomes considered......, before proposing a new more comprehensive framework, which we apply to the first P4P scheme introduced for hospitals in England. We emphasise that evaluations of cost-effectiveness need to consider who the residual claimant is on any cost savings, the possibility of positive and negative spillovers...

  16. Impact of a service provider incentive payment scheme on quality of reproductive and child-health services in Egypt.

    Science.gov (United States)

    Huntington, Dale; Zaky, Hassan H M; Shawky, Sherine; Fattah, Faten Abdel; El-Hadary, Eman

    2010-06-01

    A case-control, quasi-experimental study was designed (post-test only) to investigate the effect of a performance-based incentive payment scheme on behaviours of public-sector service providers in delivering a basic package of maternal and child-health services in Egyptian primary healthcare units. The results showed significant improvements in the quality of family-planning, antenatal care, and child-care services as reported by women seen in clinics where the incentive payment scheme was in operation as measured by various indicators, including both technical and inter-personal communication content. An analysis of characteristics of the service providers and clients found no significant or meaningful differences between the study groups, and the facilities of both the study groups were essentially the same. Some findings are suggestive of other influences on behaviours of the service providers not captured by the data-collection instruments of the study. Subsequent to this study, the payment scheme has been rolled out to other districts in Egypt.

  17. 48 CFR 1019.202-70-5 - Incentives for prime contractor participation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Incentives for prime contractor participation. 1019.202-70-5 Section 1019.202-70-5 Federal Acquisition Regulations System...-monetary award that will be presented (annually or as often as appropriate) to the mentoring firm providing...

  18. Salary administration as part of employee incentive system at industrial enterprises

    Directory of Open Access Journals (Sweden)

    Sagandykov Michail

    2017-01-01

    Full Text Available The article analyses the financial staff incentives at industrial enterprises. The paper concludes that the incentive system should be developed taking into account the developed staff motivation. The only efficient target of influence is the existing staff motivation components. A 3-element employee incentive framework for industrial enterprises is suggested. The article presents the critical analysis of the existing payroll systems of several industrial enterprises, elicits the common flaws of the incentive payments, and develops requirements for such systems. The paper also provides an industrial enterprise needs matrix and an incentive payment types matrix required to build up a rational monetary staff incentive system. These matrices can be adapted for any industrial enterprise with regard to its long-term objectives.

  19. Compliance Performance: Effects of a Provider Incentive Program and Coding Compliance Plan

    National Research Council Canada - National Science Library

    Tudela, Joseph A

    2004-01-01

    The purpose of this project is to study provider and coder related performance, i.e., provider compliance rate and coder productivity/accuracy rates and average dollar difference between coder and auditor, at Brooke Army Medical Center...

  20. Incentive-based demand response programs designed by asset-light retail electricity providers for the day-ahead market

    DEFF Research Database (Denmark)

    Fotouhi Ghazvini, Mohammad Ali; Faria, Pedro; Ramos, Sergio

    2015-01-01

    Following the deregulation experience of retail electricity markets in most countries, the majority of the new entrants of the liberalized retail market were pure REP (retail electricity providers). These entities were subject to financial risks because of the unexpected price variations, price...... to hedge the financial losses in the market. A two-stage stochastic programming problem is formulated. It aims to establish the financial incentive-based DR programs and the optimal dispatch of the DG units and ESSs. The uncertainty of the forecasted day-ahead load demand and electricity price is also...... taken into account with a scenario-based approach. The principal advantage of this model for REPs is reducing the risk of financial losses in DAMs, and the main benefit for the whole system is market power mitigation by virtually increasing the price elasticity of demand and reducing the peak demand....

  1. Not fully charged: Welfare effects of tax incentives for employer-provided electric cars

    NARCIS (Netherlands)

    Dimitropoulos, A.; van Ommeren, J.N.; Koster, P.R.; Rietveld, P.

    2016-01-01

    More than 15 million cars are provided as fringe benefits by employers in Europe. The company car market is the driving force of changes in European car fleets and one of the main channels for the penetration of low emission vehicles. Policies in support of low emission vehicles through this channel

  2. Providing Quality Therapeutics in Switzerland: Role of the Stakeholders and Recent Incentives for Further Improvements.

    Science.gov (United States)

    Besson, Marie; Samer, Caroline; Rollason, Victoria; Dayer, Pierre; Desmeules, Jules

    2015-07-01

    Quality therapeutics play an important role in Switzerland's health care and economy. Switzerland holds a key position in the world of research and development, as well as in drug production. Recently, new emphasis has been placed on promoting clinical research and maintaining Switzerland's position as a center of excellence in the field. Recent revisions to the law regarding medical trials in human research allow for better allocation of regulatory resources and simplified procedures for drugs already authorized in Switzerland. The country has its own regulatory agency, the Swiss Agency for Therapeutic Products (Swissmedic), which is a public institution of the Swiss government. Swissmedic is responsible for ensuring safety in medicines, particularly regarding authorizations and market surveillance in the sector of medicinal products and medical devices. Although the centralized authorization procedure of the European Union for medicines does not apply to Switzerland, there are mutual recognition mechanisms between the Swiss medicine regulatory authority and the European Medicines Agency. Swissmedic is also in charge of postmarketing safety and oversees the national pharmacovigilance center, which collaborates closely with the World Health Organization center in Uppsala. In addition, university hospital-based clinical pharmacologists, who are involved in basic science and clinical research, regulatory affairs, ethics committees, and pharmacovigilance, promote quality therapeutics. This article discusses the role of the various stakeholders and the recent efforts made to provide a better allocation of resources aimed at further improving quality therapeutics in Switzerland. Copyright © 2015 Elsevier HS Journals, Inc. All rights reserved.

  3. Do incentives exert undue influence on survey participation? Experimental evidence.

    Science.gov (United States)

    Singer, Eleanor; Couper, Mick P

    2008-09-01

    MONETARY INCENTIVES ARE INCREASINGLY used to help motivate survey participation. Research Ethics Committees have begun to ask whether, and under what conditions, the use of monetary incentives to induce participation might be coercive. The article reports research from an online vignette-based study bearing on this question, concluding that at present the evidence suggests that larger incentives do not induce research participants to accept higher risks than they would be unwilling to accept with smaller ones.

  4. Behavioural economics: Cash incentives avert deforestation

    Science.gov (United States)

    Cárdenas, Juan Camilo

    2017-10-01

    There is tension in developing countries between financial incentives to clear forests and climate regulation benefits of preserving trees. Now research shows that paying private forest owners in Uganda reduced deforestation, adding to the debate on the use of monetary incentives in forest conservation.

  5. Endogenous cortisol levels are associated with an imbalanced striatal sensitivity to monetary versus non-monetary cues in pathological gamblers

    Directory of Open Access Journals (Sweden)

    Yansong eLi

    2014-03-01

    Full Text Available Pathological gambling is a behavioral addiction characterized by a chronic failure to resist the urge to gamble. It shares many similarities with drug addiction. Glucocorticoid hormones including cortisol are thought to play a key role in the vulnerability to addictive behaviors, by acting on the mesolimbic reward pathway. Based on our previous report of an imbalanced sensitivity to monetary versus non-monetary incentives in the ventral striatum of pathological gamblers (PGs, we investigated whether this imbalance was mediated by individual differences in endogenous cortisol levels. We used functional magnetic resonance imaging (fMRI and examined the relationship between cortisol levels and the neural responses to monetary versus non-monetary cues, while PGs and healthy controls were engaged in an incentive delay task manipulating both monetary and erotic rewards. We found a positive correlation between cortisol levels and ventral striatal responses to monetary versus erotic cues in PGs, but not in healthy controls. This indicates that the ventral striatum is a key region where cortisol modulates incentive motivation for gambling versus non-gambling related stimuli in PGs. Our results extend the proposed role of glucocorticoid hormones in drug addiction to behavioral addiction, and help understand the impact of cortisol on reward incentive processing in PGs.

  6. Requesting a unique personal identifier or providing a souvenir incentive did not affect overall consent to health record linkage: evidence from an RCT nested within a cohort.

    Science.gov (United States)

    Ni, Michael Y; Li, Tom K; Hui, Rex W H; McDowell, Ian; Leung, Gabriel M

    2017-04-01

    It is unclear if unique personal identifiers should be requested from participants for health record linkage: this permits high-quality data linkage but at the potential cost of lower consent rates due to privacy concerns. Drawing from a sampling frame based on the FAMILY Cohort, using a 2 × 2 factorial design, we randomly assigned 1,200 participants to (1) request for Hong Kong Identity Card number (HKID) or no request and (2) receiving a souvenir incentive (valued at USD4) or no incentive. The primary outcome was consent to health record linkage. We also investigated associations between demographics, health status, and postal reminders with consent. Overall, we received signed consent forms from 33.3% (95% confidence interval [CI] 30.6-36.0%) of respondents. We did not find an overall effect of requesting HKID (-4.3%, 95% CI -9.8% to 1.2%) or offering souvenir incentives (2.4%, 95% CI -3.1% to 7.9%) on consent to linkage. In subgroup analyses, requesting HKID significantly reduced consent among adults aged 18-44 years (odds ratio [OR] 0.53, 95% CI 0.30-0.94, compared to no request). Souvenir incentives increased consent among women (OR 1.55, 95% CI 1.13-2.11, compared to no souvenirs). Requesting a unique personal identifier or providing a souvenir incentive did not affect overall consent to health record linkage. Copyright © 2017 Elsevier Inc. All rights reserved.

  7. Innumeracy and incentives

    Directory of Open Access Journals (Sweden)

    Donald Dale

    2007-08-01

    Full Text Available The Ratio-Bias phenomenon, observed by psychologist Seymour Epstein and colleagues, is a systematic manifestation of irrationality. When offered a choice between two lotteries, individuals consistently choose the lottery with the greater number of potential successes, even when it offers a smaller probability of success. In the current study, we conduct experiments to confirm this phenomenon and test for the existence of Bias as distinct from general irrationality. Moreover, we examine the effect of introducing a monetary incentive of varying size (depending on the treatment on the extent of irrational choices within this framework. We confirm the existence of the Bias. Moreover, the existence of an incentive significantly reduces the extent of irrationality exhibited, and that this effect is roughly linear in response to changes in the size of the incentive within the magnitudes investigated.

  8. Personal financial incentives in health promotion: where do they fit in an ethic of autonomy?

    National Research Council Canada - National Science Library

    Ashcroft, Richard E

    2011-01-01

    Aim  This paper reviews the ethical controversy concerning the use of monetary incentives in health promotion, focussing specifically on the arguments relating to the impact on personal autonomy of such incentives. Background...

  9. PROVIDING MORALE, WELFARE, AND RECREATION FUNDS AS INCENTIVES TO SAVE - ENDING THE END OF YEAR SPENDING FRENZY

    Science.gov (United States)

    2015-10-25

    Carryover Money in Oklahoma State Agencies." Public Budgeting & Finance 26, no. 3 (Fall 2006): 46-64. Business Source Complete, EBSCOhost (accessed...Premier, EBSCOhost (accessed September 11, 2015). Hurley W. J., Jack Brimberg & Brent Fisher, “Use It or Lose It: On the Incentives to Spend

  10. Variation in Incentive Effects across Neighbourhoods

    Directory of Open Access Journals (Sweden)

    Mark J Hanly

    2014-03-01

    Full Text Available Small monetary incentives increase survey cooperation rates, however evidence suggests that the appeal of incentives may vary across sample subgroups. Fieldwork budgets can be most effectively distributed by targeting those subgroups where incentives will have the strongest appeal. We examine data from a randomised experiment implemented in the pilot phase of the Irish Longitudinal Study of Ageing, which randomly assigned households to receive a higher (€25 or lower (€10 incentive amount. Using a random effects logistic regression model, we observe a variable effect of the higher incentive across geographic neighbourhoods. The higher incentive has the largest impact in neighbourhoods where baseline cooperation is low, as predicted by Leverage-Saliency theory. Auxiliary neighbourhood-level variables are linked to the sample frame to explore this variation further, however none of these moderate the incentive effect, suggesting that richer information is needed to identify sample subgroups where incentive budgets should be directed.

  11. Monetary accounting of ecosystem services

    NARCIS (Netherlands)

    Remme, R.P.; Edens, Bram; Schröter, Matthias; Hein, Lars

    2015-01-01

    Ecosystem accounting aims to provide a better understanding of ecosystem contributions to the economy in a spatially explicit way. Ecosystem accounting monitors ecosystem services and measures their monetary value using exchange values consistent with the System of National Accounts (SNA). We

  12. Economic and utilitarian benefits of monetary versus non-monetary in-store sales promotions

    DEFF Research Database (Denmark)

    Reid, Mike; Thompson, Peter; Mavondo, Felix

    2014-01-01

    While prior research has examined the issue of sales promotion proneness, very little has examined proneness to non-monetary promotions, such as contests and premiums discovered in store. This study draws on a promotions benefits framework to examine the influence of shoppers’ desired benefits on...... are that many monetary sales promotion-prone shoppers may be attracted by the benefits provided by non-monetary promotions. The increased use by managers of non-monetary promotions instead of monetary promotions may result in improved category value and brand equity benefits.......While prior research has examined the issue of sales promotion proneness, very little has examined proneness to non-monetary promotions, such as contests and premiums discovered in store. This study draws on a promotions benefits framework to examine the influence of shoppers’ desired benefits...

  13. 46 CFR 506.3 - Civil monetary penalty inflation adjustment.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 9 2010-10-01 2010-10-01 false Civil monetary penalty inflation adjustment. 506.3... PENALTY INFLATION ADJUSTMENT § 506.3 Civil monetary penalty inflation adjustment. The Commission shall... each civil monetary penalty provided by law within the jurisdiction of the Commission by the inflation...

  14. Unioni monetarie: una prospettiva teorica

    National Research Council Canada - National Science Library

    F. CESARANO

    2013-01-01

    ... and, particularly, to the effectiveness of domestic monetary actions. Since participation in a monetary union implies loss of monetary sovereignty, the issue at hand is evaluating the effects of this loss on social welfare...

  15. Monetary management in a monetary union

    DEFF Research Database (Denmark)

    Thygesen, Niels

    1991-01-01

    The design and implementation of monetary policy in the EMU raises a number of difficult conceptual issues, though less complex than those of the transition. The Delors Report (1989) addressed three issues, in particular: (1) the appropriate mandate for the European system of Central Banks (ESCB...

  16. Perspectives on financial incentives to health service providers for increasing breast feeding and smoking quit rates during pregnancy: a mixed methods study.

    Science.gov (United States)

    Hoddinott, Pat; Thomson, Gill; Morgan, Heather; Crossland, Nicola; MacLennan, Graeme; Dykes, Fiona; Stewart, Fiona; Bauld, Linda; Campbell, Marion K

    2015-11-13

    To explore the acceptability, mechanisms and consequences of provider incentives for smoking cessation and breast feeding as part of the Benefits of Incentives for Breastfeeding and Smoking cessation in pregnancy (BIBS) study. Cross-sectional survey and qualitative interviews. Scotland and North West England. Early years professionals: 497 survey respondents included 156 doctors; 197 health visitors/maternity staff; 144 other health staff. Qualitative interviews or focus groups were conducted with 68 pregnant/postnatal women/family members; 32 service providers; 22 experts/decision-makers; 63 conference attendees. Early years professionals were surveyed via email about the acceptability of payments to local health services for reaching smoking cessation in pregnancy and breastfeeding targets. Agreement was measured on a 5-point scale using multivariable ordered logit models. A framework approach was used to analyse free-text survey responses and qualitative data. Health professional net agreement for provider incentives for smoking cessation targets was 52.9% (263/497); net disagreement was 28.6% (142/497). Health visitors/maternity staff were more likely than doctors to agree: OR 2.35 (95% CI 1.51 to 3.64; pservices/rights-and-licensing/

  17. Not all incentives wash out the warm glow: the case of blood donation revisited

    OpenAIRE

    Costa-Font, J.; Jofre-Bonet, M.; Yen, S.

    2012-01-01

    The issue of the nature of the altruism inherent in blood donation and the perverse effects of financial rewards for blood and/or organ donation has been recently revisited in the economic literature with limited consensus. As Titmuss (1970) famously pointed out, providing monetary incentives to blood donors may crowd out blood supply as purely altruistic donors may feel less inclined to donate if a reward is involved - in addition to having the effect of reducing blood quality. In this paper...

  18. How does the pharmaceutical industry influence prescription? A qualitative study of provider payment incentives and drug remunerations in hospitals in Shanghai.

    Science.gov (United States)

    Yang, Wei

    2016-10-01

    Over-prescription has become one major problem in China's health care sector. Incorporating interview data from hospitals in Shanghai, this paper provided empirical evidence on how the process of over-prescription was carried out in day-to-day clinical settings, and demonstrates various mechanisms that allow over-prescription to continue vigorously in the context of the Chinese health care system. In particular, this study identified four levels of incentives that over-prescription was carried out: hospital, medical department, doctors and pharmaceutical companies. Due to the insufficient funding from the government and rising operational costs, hospitals had to rely on the sales of drugs and provision of medical services to survive. This funding pressure then transferred to specific revenue targets for medical departments. A combination of incentives, including drug remunerations, bonus system, low pay and high workloads motivated over-prescription at doctor level. At pharmaceutical company level, high profits of pharmaceuticals products as well as lack of emphasis on efficacy of drugs led to under-table payments and illicit drug remunerations. The study argued that the way that the Chinese health care system operates was based on the profit-seeking principle rather than on fulfilling its social functions, and called for a systematic reform of provider incentives to eradicating the problem of over-prescription.

  19. Perspectives on financial incentives to health service providers for increasing breast feeding and smoking quit rates during pregnancy: a mixed methods study

    Science.gov (United States)

    Hoddinott, Pat; Thomson, Gill; Morgan, Heather; Crossland, Nicola; MacLennan, Graeme; Dykes, Fiona; Stewart, Fiona; Bauld, Linda; Campbell, Marion K

    2015-01-01

    Objective To explore the acceptability, mechanisms and consequences of provider incentives for smoking cessation and breast feeding as part of the Benefits of Incentives for Breastfeeding and Smoking cessation in pregnancy (BIBS) study. Design Cross-sectional survey and qualitative interviews. Setting Scotland and North West England. Participants Early years professionals: 497 survey respondents included 156 doctors; 197 health visitors/maternity staff; 144 other health staff. Qualitative interviews or focus groups were conducted with 68 pregnant/postnatal women/family members; 32 service providers; 22 experts/decision-makers; 63 conference attendees. Methods Early years professionals were surveyed via email about the acceptability of payments to local health services for reaching smoking cessation in pregnancy and breastfeeding targets. Agreement was measured on a 5-point scale using multivariable ordered logit models. A framework approach was used to analyse free-text survey responses and qualitative data. Results Health professional net agreement for provider incentives for smoking cessation targets was 52.9% (263/497); net disagreement was 28.6% (142/497). Health visitors/maternity staff were more likely than doctors to agree: OR 2.35 (95% CI 1.51 to 3.64; pbreastfeeding targets was 44.1% (219/497) and net disagreement was 38.6% (192/497). Agreement was more likely for women (compared with men): OR 1.81 (1.09 to 3.00; p=0.023) and health visitors/maternity staff (compared with doctors): OR 2.54 (95% CI 1.65 to 3.91; p<0.001). Key emergent themes were ‘moral tensions around acceptability’, ‘need for incentives’, ‘goals’, ‘collective or divisive action’ and ‘monitoring and proof’. While provider incentives can focus action and resources, tensions around the impact on relationships raised concerns. Pressure, burden of proof, gaming, box-ticking bureaucracies and health inequalities were counterbalances to potential benefits. Conclusions

  20. Advancing the application of systems thinking in health: provider payment and service supply behaviour and incentives in the Ghana National Health Insurance Scheme--a systems approach.

    Science.gov (United States)

    Agyepong, Irene A; Aryeetey, Geneieve C; Nonvignon, Justice; Asenso-Boadi, Francis; Dzikunu, Helen; Antwi, Edward; Ankrah, Daniel; Adjei-Acquah, Charles; Esena, Reuben; Aikins, Moses; Arhinful, Daniel K

    2014-08-05

    Assuring equitable universal access to essential health services without exposure to undue financial hardship requires adequate resource mobilization, efficient use of resources, and attention to quality and responsiveness of services. The way providers are paid is a critical part of this process because it can create incentives and patterns of behaviour related to supply. The objective of this work was to describe provider behaviour related to supply of health services to insured clients in Ghana and the influence of provider payment methods on incentives and behaviour. A mixed methods study involving grey and published literature reviews, as well as health management information system and primary data collection and analysis was used. Primary data collection involved in-depth interviews, observations of time spent obtaining service, prescription analysis, and exit interviews with clients. Qualitative data was analysed manually to draw out themes, commonalities, and contrasts. Quantitative data was analysed in Excel and Stata. Causal loop and cause tree diagrams were used to develop a qualitative explanatory model of provider supply incentives and behaviour related to payment method in context. There are multiple provider payment methods in the Ghanaian health system. National Health Insurance provider payment methods are the most recent additions. At the time of the study, the methods used nationwide were the Ghana Diagnostic Related Groupings payment for services and an itemized and standardized fee schedule for medicines. The influence of provider payment method on supply behaviour was sometimes intuitive and sometimes counter intuitive. It appeared to be related to context and the interaction of the methods with context and each other rather than linearly to any given method. As countries work towards Universal Health Coverage, there is a need to holistically design, implement, and manage provider payment methods reforms from systems rather than linear

  1. Monetary and Non-monetary SWO Retention Bonuses: An Experimental Approach to the Combinatorial Retention Auction Mechanism (CRAM)

    Science.gov (United States)

    2009-12-01

    as well as disclosing the cost of the non-monetary incentive before submitting bids. Lastly, we recommend running experiments with a menu type...gym, quality cafeteria , etc. You should have three stacks of papers in front of you, a yellow stack, a blue sheet, and a stack of pink sheets

  2. Monetary Science, Fiscal Alchemy

    OpenAIRE

    Eric M. Leeper

    2010-01-01

    Monetary policy decisions tend to be based on systematic analysis of alternative policy choices and their associated macroeconomic impacts: this is science. Fiscal policy choices, in contrast, spring from unsystematic speculation, grounded more in politics than economics: this is alchemy. In normal times, fiscal alchemy poses no insurmountable problems for monetary policy because fiscal expectations can be extrapolated from past fiscal behavior. But normal times may be coming to an end: aging...

  3. Motivation and incentives of rural maternal and neonatal health care providers: a comparison of qualitative findings from Burkina Faso, Ghana and Tanzania.

    Science.gov (United States)

    Prytherch, Helen; Kagoné, Moubassira; Aninanya, Gifty A; Williams, John E; Kakoko, Deodatus C V; Leshabari, Melkidezek T; Yé, Maurice; Marx, Michael; Sauerborn, Rainer

    2013-04-25

    In Burkina Faso, Ghana and Tanzania strong efforts are being made to improve the quality of maternal and neonatal health (MNH) care. However, progress is impeded by challenges, especially in the area of human resources. All three countries are striving not only to scale up the number of available health staff, but also to improve performance by raising skill levels and enhancing provider motivation. In-depth interviews were used to explore MNH provider views about motivation and incentives at primary care level in rural Burkina Faso, Ghana and Tanzania. Interviews were held with 25 MNH providers, 8 facility and district managers, and 2 policy-makers in each country. Across the three countries some differences were found in the reasons why people became health workers. Commitment to remaining a health worker was generally high. The readiness to remain at a rural facility was far less, although in all settings there were some providers that were willing to stay. In Burkina Faso it appeared to be particularly difficult to recruit female MNH providers to rural areas. There were indications that MNH providers in all the settings sometimes failed to treat their patients well. This was shown to be interlinked with differences in how the term 'motivation' was understood, and in the views held about remuneration and the status of rural health work. Job satisfaction was shown to be quite high, and was particularly linked to community appreciation. With some important exceptions, there was a strong level of agreement regarding the financial and non-financial incentives that were suggested by these providers, but there were clear country preferences as to whether incentives should be for individuals or teams. Understandings of the terms and concepts pertaining to motivation differed between the three countries. The findings from Burkina Faso underline the importance of gender-sensitive health workforce planning. The training that all levels of MNH providers receive in

  4. Social values and the corruption argument against financial incentives for healthy behaviour.

    Science.gov (United States)

    Brown, Rebecca C H

    2017-03-01

    Financial incentives may provide a way of reducing the burden of chronic diseases by motivating people to adopt healthy behaviours. While it is still uncertain how effective such incentives could be for promoting health, some argue that, even if effective, there are ethical objections that preclude their use. One such argument is made by Michael Sandel, who suggests that monetary transactions can have a corrupting effect on the norms and values that ordinarily regulate exchange and behaviour in previously non-monetised contexts. In this paper, I outline Sandel's corruption argument and consider its validity in the context of health incentives. I distinguish between two forms of corruption that are implied by Sandel's argument: efficiency corruption and value corruption While Sandel's thought-provoking discussion provides a valuable contribution to debates about health policies generally and health incentives specifically, I suggest the force of his criticism of health incentives is limited: further empirical evidence and theoretical reasoning are required to support the suggestion that health incentives are an inappropriate tool for promoting health. While I do not find Sandel's corruption argument compelling, this only constitutes a partial defence of health incentives, since other criticisms relating to their use may prove more successful. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

  5. Influence of dimensional incentives on voters' turnout in 2014 and ...

    African Journals Online (AJOL)

    2016-07-31

    Jul 31, 2016 ... monetary incentives while no known studies have been carried out on the new dimension of incentives to influence voters' turnout adopted ... behind people's voting behaviour in gubernatorial elections (2014 and 2015) in Southwestern, Nigeria using ... developmental models, the political leaders are quite.

  6. Better get back to work: a role for motor beta desynchronization in incentive motivation.

    Science.gov (United States)

    Meyniel, Florent; Pessiglione, Mathias

    2014-01-01

    Much research has been devoted to characterizing brain representations of reward and movement. However, the mechanisms allowing expected rewards to influence motor commands remain poorly understood. Unraveling such mechanisms is crucial to providing explanations of how behavior can be driven by goals, hence accounting for apathy cases in clinics. Here, we propose that the reduction of motor beta synchrony (MBS) before movement onset could participate in this incentive motivation process. To test this hypothesis, we recorded brain activity using magnetoencenphalography (MEG) while human participants were exerting physical effort to win monetary incentives. Knowing that the payoff was proportional to the time spent above a target force, subjects spontaneously took breaks when exhausted and resumed effort production when repleted. Behavioral data indicated that the rest periods were shorter when higher incentives were at stake. MEG data showed that the amplitude of MBS reduction correlated to both incentive level and rest duration. Moreover, the time of effort initiation could be predicted by MBS reduction measured at the beginning of rest periods. Incentive effects on MBS reduction and rest duration were also correlated across subjects. Finally, Bayesian comparison between possible causal models suggested that MBS reduction mediates the impact of incentive level on rest duration. We conclude that MBS reduction could represent a neural mechanism that speeds the initiation of effort production when the effort is more rewarded.

  7. Peace Incentives

    DEFF Research Database (Denmark)

    Emmanuel, Nikolas G.

    2015-01-01

    How does economic assistance influence the success or failure of peace processes in Africa? Can economic assistance act as an incentive to facilitate an end to conflict? The literature largely ignores aid as a factor supporting peace processes. In addressing this topic, the current study tries...... to assess the impact of donor economic aid on recent African peace processes. This research points to the conclusion that international assistance can be a positive incentive for lasting peace....

  8. Paying people to lose weight: the effectiveness of financial incentives provided by health insurers for the prevention and management of overweight and obesity - a systematic review.

    Science.gov (United States)

    Ananthapavan, J; Peeterson, A; Sacks, G

    2017-12-20

    Curbing the obesity epidemic is likely to require a suite of interventions targeting the obesogenic environment as well as individual behaviour. Evidence suggests that the effectiveness of behaviour modification programmes can be enhanced by financial incentives that immediately reward weight loss behaviour. This systematic review investigated the effectiveness of incentives with a focus on assessing the relative effectiveness of incentives that target different behaviours as well as factors of importance when implementing these programmes in real-world settings (health insurer settings). A narrative review of the academic and grey literature including a variety of study designs was undertaken. Twenty studies met inclusion criteria and were assessed using the Effective Public Health Practice Project Quality Assessment Tool for Quantitative Studies. Results suggest that incentivizing weight loss is effective in the short term while the incentives are in place. There are various incentive designs, and although the relative effectiveness of each of these on weight loss is not clear, it appears that positive incentives increase the uptake into programmes and may reduce dropouts. As with other weight loss initiatives, there is a need to explore ways to maintain weight loss in the longer term - incentives for weight maintenance could play a role. © 2017 World Obesity Federation.

  9. Monetary Organization and National Identity

    DEFF Research Database (Denmark)

    Ravn Sørensen, Anders

    2016-01-01

    This article develops a detailed overview of literature on the relationship between monetary organization, understood as currencies and central banks, and issues of national identity and nationalism. It demonstrates how the literature on this subject for the past 20 years has developed into a dis......This article develops a detailed overview of literature on the relationship between monetary organization, understood as currencies and central banks, and issues of national identity and nationalism. It demonstrates how the literature on this subject for the past 20 years has developed...... organization to an emphasis on how collective identities legitimize monetary organization. Based on the literature review, the article points to two underdeveloped themes for future research to investigate: (1) further studies on the interrelation between the legitimacy of monetary organization and national...... identity, (2) an increased focus on central banks and monetary authorities, as well as the historical development in which monetary organization evolved in concert with ideas of the national identity and nationalism....

  10. New Approaches for Monetary Policy

    Directory of Open Access Journals (Sweden)

    Alexandra ADAM

    2012-02-01

    Full Text Available As a result of the economic turmoil started in 2007, there is a dispute if the monetary policy implies radical changes or just a rethinking of details regarding the main framework of the monetary policy strategy. Therefore, the actual debates that I have analyzed in the article take into account, among others, the relationship of monetary policy with the one of financial stability, the analyze if the monetary policy should lean against credit bubbles or just clean after their explosion (Lean vs. Clean debate, the presence of nonlinearities in economy. Thus, monetary economy becomes more interesting and the economists need to think about a wider range of monetary policy problems than existed before.

  11. Issues in Modelling Monetary Policy

    OpenAIRE

    Malcolm Edey; John Romalis

    1996-01-01

    This paper reviews issues in the econometric modelling of monetary policy in the light of recent experience and research. Two main sets of issues are covered: first, the operation of policy including the specification of the instrument and objectives; and second, the transmission of monetary policy effects to the wider economy. There is also a discussion of the inherent limitations on the ability to quantify the role of monetary policy in econometric models.

  12. Monetary Policy Strategy in Romania

    Directory of Open Access Journals (Sweden)

    Cristina Burghelea

    2016-01-01

    Full Text Available Choosing this research theme was made because some European countries went through aperiod of post-communist transition, moving from a planned economy to a type of market economy,which has been the emergence of new events in monetary policy. Thus, each country had todesignate a monetary authority to manage and control the monetary policy developments by usingmonetary policy strategy. Also, the fight against inflation is a prerequisite for stimulatingsustainable national economic growth.

  13. The Institutions of Monetary Policy

    OpenAIRE

    Mervyn King

    2004-01-01

    I argue that it is useful to think about the optimal design of monetary institutions using the insights from the theory of incomplete contracts. The core of the monetary policy problem is the uncertainty about future social decisions resulting from the impossibility and the undesirability of committing our successors to any given monetary policy strategy. The impossibility stems from the observation that collective decisions cannot be enforced so that it is impossible to commit to future coll...

  14. Identifying the Cost of Non-monetary Incentives (ICONIC)

    Science.gov (United States)

    2009-12-01

    topics. a. Inspection Optimization Model The Environmental Protection Agency (EPA) developed a linear programming model designed for a state air...and other special pays that can distort the environment and amenities that the next assignment offers.23 The primary objective of this work is to...Government Printing Office, 2005). http://www.gao.gov/new.items/d06125.pdf (accessed September 28, 2008). Van Boening, Mark, Tanja F. Blackstone

  15. Monetary and Exchange Rate Policy in Malaysia before the Asian Crisis

    OpenAIRE

    Umezaki, So

    2006-01-01

    This paper provides a case study to characterize the monetary policy regime in Malaysia, from a medium- and long-term perspective. Specifically, we ask how the central bank of Malaysia, Bank Negara Malaysia (BNM), has structured its monetary policy regime, and how it has conducted monetary and exchange rate policy under the regime. By conducting three empirical analyses, we characterize the monetary and exchange rate policy regime in Malaysia by three intermediate solutions on three vectors: ...

  16. Incentives, health promotion and equality.

    Science.gov (United States)

    Voigt, Kristin

    2012-07-01

    The use of incentives to encourage individuals to adopt 'healthier' behaviours is an increasingly popular instrument in health policy. Much of the literature has been critical of 'negative' incentives, often due to concerns about equality; 'positive' incentives, however, have largely been welcomed as an instrument for the improvement of population health and possibly the reduction of health inequalities. The aim of this paper is to provide a more systematic assessment of the use of incentives from the perspective of equality. The paper begins with an overview of existing and proposed incentive schemes. I then suggest that the distinction between 'positive' and 'negative' incentives - or 'carrots' and 'sticks' - is of limited use in distinguishing those incentive schemes that raise concerns of equality from those that do not. The paper assesses incentive schemes with respect to two important considerations of equality: equality of access and equality of outcomes. While our assessment of incentive schemes will, ultimately, depend on various empirical facts, the paper aims to advance the debate by identifying some of the empirical questions we need to ask. The paper concludes by considering a number of trade-offs and caveats relevant to the assessment of incentive schemes.

  17. Using Incentives

    Science.gov (United States)

    Seymour, Kathryn

    2012-01-01

    This article explores the ethical implications of using incentives to encourage and recognise youth participation in research. While the complexity of research projects and the diversity of research subjects necessarily preclude simple solutions, the author argues that social research can successfully and ethically use a mix of extrinsic and…

  18. The Effect of Incentives and Meta-incentives on the Evolution of Cooperation.

    Directory of Open Access Journals (Sweden)

    Isamu Okada

    2015-05-01

    Full Text Available Although positive incentives for cooperators and/or negative incentives for free-riders in social dilemmas play an important role in maintaining cooperation, there is still the outstanding issue of who should pay the cost of incentives. The second-order free-rider problem, in which players who do not provide the incentives dominate in a game, is a well-known academic challenge. In order to meet this challenge, we devise and analyze a meta-incentive game that integrates positive incentives (rewards and negative incentives (punishments with second-order incentives, which are incentives for other players' incentives. The critical assumption of our model is that players who tend to provide incentives to other players for their cooperative or non-cooperative behavior also tend to provide incentives to their incentive behaviors. In this paper, we solve the replicator dynamics for a simple version of the game and analytically categorize the game types into four groups. We find that the second-order free-rider problem is completely resolved without any third-order or higher (meta incentive under the assumption. To do so, a second-order costly incentive, which is given individually (peer-to-peer after playing donation games, is needed. The paper concludes that (1 second-order incentives for first-order reward are necessary for cooperative regimes, (2 a system without first-order rewards cannot maintain a cooperative regime, (3 a system with first-order rewards and no incentives for rewards is the worst because it never reaches cooperation, and (4 a system with rewards for incentives is more likely to be a cooperative regime than a system with punishments for incentives when the cost-effect ratio of incentives is sufficiently large. This solution is general and strong in the sense that the game does not need any centralized institution or proactive system for incentives.

  19. The Effect of Incentives and Meta-incentives on the Evolution of Cooperation.

    Science.gov (United States)

    Okada, Isamu; Yamamoto, Hitoshi; Toriumi, Fujio; Sasaki, Tatsuya

    2015-05-01

    Although positive incentives for cooperators and/or negative incentives for free-riders in social dilemmas play an important role in maintaining cooperation, there is still the outstanding issue of who should pay the cost of incentives. The second-order free-rider problem, in which players who do not provide the incentives dominate in a game, is a well-known academic challenge. In order to meet this challenge, we devise and analyze a meta-incentive game that integrates positive incentives (rewards) and negative incentives (punishments) with second-order incentives, which are incentives for other players' incentives. The critical assumption of our model is that players who tend to provide incentives to other players for their cooperative or non-cooperative behavior also tend to provide incentives to their incentive behaviors. In this paper, we solve the replicator dynamics for a simple version of the game and analytically categorize the game types into four groups. We find that the second-order free-rider problem is completely resolved without any third-order or higher (meta) incentive under the assumption. To do so, a second-order costly incentive, which is given individually (peer-to-peer) after playing donation games, is needed. The paper concludes that (1) second-order incentives for first-order reward are necessary for cooperative regimes, (2) a system without first-order rewards cannot maintain a cooperative regime, (3) a system with first-order rewards and no incentives for rewards is the worst because it never reaches cooperation, and (4) a system with rewards for incentives is more likely to be a cooperative regime than a system with punishments for incentives when the cost-effect ratio of incentives is sufficiently large. This solution is general and strong in the sense that the game does not need any centralized institution or proactive system for incentives.

  20. Integrating Monetary and Non-monetary Reenlistment Incentives Utilizing the Combinatorial Retention Auction Mechanism (CRAM)

    Science.gov (United States)

    2008-12-01

    unplanned EAOS losses. The simplest way to implement CRAM would be a “ cafeteria -style” plan where Sailors are given a menu of NMIs along with...Terry Rea, CAPT, USN Acting Dean, Graduate School of Business and Public Policy iv THIS PAGE INTENTIONALLY LEFT BLANK v ABSTRACT This research... business objectives.”30 Additionally, employees must be educated as to the true value of their total compensation. This final point is

  1. Challenges for monetary policy in the enlarged European monetary Union

    Directory of Open Access Journals (Sweden)

    Radović Irena

    2009-01-01

    Full Text Available The eastward enlargement of the Euro area entails significant implications for the accession candidates in Central and Eastern Europe (CEE, the existing Euro system and the monetary policy of the European Central Bank (ECB. The present analysis assesses the challenges and critical aspects in monetary policy modeling with special emphasis to enlargement. The focus is on the difficulty of implementing a unique currency policy in view or growing heterogeneity within the enlarged monetary union, and secondly - the issue of the voting mechanism within the ECB. When analyzing those two issues, it is conclusive that the difficulties for the ECB and the current Euro zone members will increase. For the enlarged Euro zone, which is becoming more divergent, it will be very hard to find adequate recipes to meet the needs and requirements of all. The big question is: whether centralization of monetary policy is a sustainable and superior solution?.

  2. The Choice of Monetary Regime

    DEFF Research Database (Denmark)

    Østrup, Finn

    The article examines how government spending is determined in a closedeconomy where the nominal wage is pre-set through contracts and the wage settershave perfect foresight regarding subsequent policy decisions. The monetaryregime affects government spending because: (i) with a pre-set nominal wa......, a comparisonbetween monetary regimes suggests that welfare is highest under nominalincome targeting where the nominal income target is determined to bring aboutprice stability.Keywords: Monetary regimes; fiscal policy; monetary non-neutrality.JEL classicification: E42, E61, E62....

  3. The Relationship of Financial Incentives and Consumers' Willingness to Disclose Information to eCommerce Marketers

    Science.gov (United States)

    Pourhosseini, Parissa

    2009-01-01

    In this study the problem examined was a lack of research based information on the degree to which incentives can be used to encourage consumers to volunteer private information. The purpose of this study was to determine if monetary incentives would be a beneficial means to increase consumers' involvement in eCommerce and thereby boost the growth…

  4. Network versus Economic Incentives

    DEFF Research Database (Denmark)

    Larsen, Christian Albrekt

    might be an important part of the vicious circles of unemployment. Finally, the article analyse the importance of network versus the importance of economic incentives. The result supports the thesis that economic sociology provides a better account of the transition from unemployment to employment than...

  5. The Higher Essence of Economic Convergence Regarding Monetary Impacts

    Directory of Open Access Journals (Sweden)

    Hudec Martin

    2017-06-01

    Full Text Available The increasing pace of achieving socio-economic growth and convergence into developed structures represents the main desire of most countries. Moreover, membership in monetary unions has quite a significant impact on the economies of participating countries, since integration processes have become undoubtedly the undisputed accelerator of convergence and integration catalyst, reflecting on the development of the world economy. The growing intensity of world trade, the ever-deepening division of labor and specialization, international movement of capital and labor mobility as wells as investments into education, research and development, innovations are among the factors that lead to the creation of increasingly closer ties between economies, deepening their mutual dependence, further reflected in knowledge-based societies. Thus, the close ties between national economies themselves represent a further incentive for more intensive cooperation through the different stages of economic integration. International economic integration is an objective to promote a gradual process of linking and connecting existing economic units, i.e. national economies to the greater interconnected units in the global economy. The aim of our research paper, by using the methods of analysis and comparison, is to closely present the issue of monetary integration, focusing on the impact of monetary integration on countries’ economy, resulting in the issue of benefits and costs of the countries’ entry into the monetary union, associated with initial economic shocks.

  6. Financial incentives and weight control.

    Science.gov (United States)

    Jeffery, Robert W

    2012-11-01

    This paper reviews research studies evaluating the use of financial incentives to promote weight control conducted between 1972 and 2010. It provides an overview of behavioral theories pertaining to incentives and describes empirical studies evaluating specific aspects of incentives. Research on financial incentives and weight control has a history spanning more than 30 years. Early studies were guided by operant learning concepts from Psychology, while more recent studies have relied on economic theory. Both theoretical orientations argue that providing financial rewards for losing weight should motivate people to engage in behaviors that produce weight loss. Empirical research has strongly supported this idea. However, results vary widely due to differences in incentive size and schedule, as well as contextual factors. Thus, many important questions about the use of incentives have not yet been clearly answered. Weight-maintenance studies using financial incentives are particularly sparse, so that their long-term efficacy and thus, value in addressing the public health problem of obesity is unclear. Major obstacles to sustained applications of incentive in weight control are funding sources and acceptance by those who might benefit. Copyright © 2011 Elsevier Inc. All rights reserved.

  7. Monetary Transmission Mechanisms in Belarus

    OpenAIRE

    Rodolfo Maino; Balázs Horváth

    2006-01-01

    We explore monetary policy transmission by estimating VAR impulse response functions to illustrate the Belarusian economy's response to unexpected changes in policy and exogenous variables. We find a significant exchange rate pass-through to prices, and interest rate policy following, rather than leading, financial market developments. Our estimated monetary policy reaction function shows the central bank striking a balance between real exchange rate stability and containing inflation. We dis...

  8. Calculations of Financial Incentives for Providers in a Pay-for-Performance Program: Manual Review Versus Data From Structured Fields in Electronic Health Records.

    Science.gov (United States)

    Urech, Tracy H; Woodard, LeChauncy D; Virani, Salim S; Dudley, R Adams; Lutschg, Meghan Z; Petersen, Laura A

    2015-10-01

    Hospital report cards and financial incentives linked to performance require clinical data that are reliable, appropriate, timely, and cost-effective to process. Pay-for-performance plans are transitioning to automated electronic health record (EHR) data as an efficient method to generate data needed for these programs. To determine how well data from automated processing of structured fields in the electronic health record (AP-EHR) reflect data from manual chart review and the impact of these data on performance rewards. Cross-sectional analysis of performance measures used in a cluster randomized trial assessing the impact of financial incentives on guideline-recommended care for hypertension. A total of 2840 patients with hypertension assigned to participating physicians at 12 Veterans Affairs hospital-based outpatient clinics. Fifty-two physicians and 33 primary care personnel received incentive payments. Overall, positive and negative agreement indices and Cohen's kappa were calculated for assessments of guideline-recommended antihypertensive medication use, blood pressure (BP) control, and appropriate response to uncontrolled BP. Pearson's correlation coefficient was used to assess how similar participants' calculated earnings were between the data sources. By manual chart review data, 72.3% of patients were considered to have received guideline-recommended antihypertensive medications compared with 65.0% by AP-EHR review (κ=0.51). Manual review indicated 69.5% of patients had controlled BP compared with 66.8% by AP-EHR review (κ=0.87). Compared with 52.2% of patients per the manual review, 39.8% received an appropriate response by AP-EHR review (κ=0.28). Participants' incentive payments calculated using the 2 methods were highly correlated (r≥0.98). Using the AP-EHR data to calculate earnings, participants' payment changes ranged from a decrease of $91.00 (-30.3%) to an increase of $18.20 (+7.4%) for medication use (interquartile range, -14.4% to 0

  9. Incentives for health.

    Science.gov (United States)

    Anderson, Peter; Harrison, Oliver; Cooper, Cary; Jané-Llopis, Eva

    2011-08-01

    This article discusses incentives to help make healthy choices the easy choices for individuals, operating at the levels of the individual, producers and service providers, and governments. Whereas paying individuals directly to be healthier seems to have a limited effect, offering financial incentives through health insurance improves health. Changing the environment to make healthier choices more accessible acts as an incentive to improve health. Employers can provide incentives to improve the health of their employees. Producers and service providers can take voluntary action to make their products less harmful, and they can be nudged into marketing healthier products within a regulatory environment. International agreements and monitoring systems can incentivize governments to do more for health. Lessons from climate change adaptation suggest that multilevel governance and policy integration are greater obstacles to policy change and implementation than knowing what has to be done. Policy change and implementation are triggered by many drivers, many of which are side effects of other policy pressures rather than of the direct policy goal itself. Effective action to reduce noncommunicable diseases will require leveraging social networks into a new ways of thinking about health; making better health prestigious and aspirational, and giving health and wellness a brand that encourages positive behavior change.

  10. 48 CFR 819.7105 - Incentives for prime contractor participation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Incentives for prime contractor participation. 819.7105 Section 819.7105 Federal Acquisition Regulations System DEPARTMENT OF... contractor responsibility 19.705-5(a)(1). (d) OSDBU Mentoring Award. A non-monetary award will be presented...

  11. Proposed Legislation for Teacher Incentives for School Excellence and Equity

    Science.gov (United States)

    Bauries, Scott R.

    2012-01-01

    Pursuant to the recommendations and findings in Dr. Barnett Berry's policy brief, the proposed set of legislative enactments presented in this paper offers both monetary incentives and positive working conditions requirements likely to further three goals: (a) cause more effective teachers to choose to work in high-need schools and fields, (b)…

  12. Housing and the monetary transmission mechanism

    OpenAIRE

    Mishkin, Frederic S.

    2007-01-01

    The housing market is of central concern to monetary policy makers. To achieve the dual goals of price stability and maximum sustainable employment, monetary policy makers must understand the role that housing plays in the monetary transmission mechanism if they are to set policy instruments appropriately. In this paper, I examine what we know about the role of housing in the monetary transmission mechanism and then explore the implications of this knowledge for the conduct of monetary policy...

  13. THE IMPACT OF MONETARY POLICY ON BANK CREDIT DURING ECONOMIC CRISIS: INDONESIA’S EXPERIENCE

    Directory of Open Access Journals (Sweden)

    Abdul Mongid

    2017-03-01

    Full Text Available The monetary policy mechanism by which monetary policy was transmitted to thereal economy had emerged as the pivotal discussion topic recently. This paper tried to discussthe impact of Bank Indonesia’s monetary policy on loan bank. By using simple loan bankframework we concluded that monetary policies were able to influence loan bank. Themonetary variables such as discount rate policy, base money and exchange rate policy werevery important in determining the banking credit. As the credit was very important to influencesthe economic activitiy, the result provided evidence that monetary policy was important as atool to control economic activity via credit channel. The validity of this study challenged thehypotheses that monetary policy was death. However, monetary policy maker should carefullyconsider the soundness of the banking industry because it was a strategic partner for monetaryauthority to control the economic activities.

  14. Expectations, Bond Yields and Monetary Policy

    DEFF Research Database (Denmark)

    Chun, Albert Lee

    2011-01-01

    Through explicitly incorporating analysts' forecasts as observable factors in a dynamic arbitrage-free model of the yield curve, this research proposes a framework for studying the impact of shifts in market sentiment on interest rates of all maturities. An empirical examination reveals that surv...... of this type may provide traders and policymakers with a new set of tools for formally assessing the reaction of bond yields to shifts in market expectations......Through explicitly incorporating analysts' forecasts as observable factors in a dynamic arbitrage-free model of the yield curve, this research proposes a framework for studying the impact of shifts in market sentiment on interest rates of all maturities. An empirical examination reveals that survey...... expectations about inflation, output growth, and the anticipated path of monetary policy actions contain important information for explaining movements in bond yields. Estimates from a forward-looking monetary policy rule suggest that the central bank exhibits a preemptive response to inflationary expectations...

  15. Major depressive disorder is characterized by greater reward network activation to monetary than pleasant image rewards.

    Science.gov (United States)

    Smoski, Moria J; Rittenberg, Alison; Dichter, Gabriel S

    2011-12-30

    Anhedonia, the loss of interest or pleasure in normally rewarding activities, is a hallmark feature of unipolar Major Depressive Disorder (MDD). A growing body of literature has identified frontostriatal dysfunction during reward anticipation and outcomes in MDD. However, no study to date has directly compared responses to different types of rewards such as pleasant images and monetary rewards in MDD. To investigate the neural responses to monetary and pleasant image rewards in MDD, a modified Monetary Incentive Delay task was used during functional magnetic resonance imaging to assess neural responses during anticipation and receipt of monetary and pleasant image rewards. Participants included nine adults with MDD and 13 affectively healthy controls. The MDD group showed lower activation than controls when anticipating monetary rewards in right orbitofrontal cortex and subcallosal cortex, and when anticipating pleasant image rewards in paracingulate and supplementary motor cortex. The MDD group had relatively greater activation in right putamen when anticipating monetary versus pleasant image rewards, relative to the control group. Results suggest reduced reward network activation in MDD when anticipating rewards, as well as relatively greater hypoactivation to pleasant image than monetary rewards. 2011 Elsevier Ireland Ltd. All rights reserved.

  16. Incentive Processing in Persistent Disruptive Behavior and Psychopathic Traits: A Functional Magnetic Resonance Imaging Study in Adolescents.

    Science.gov (United States)

    Cohn, Moran D; Veltman, Dick J; Pape, Louise E; van Lith, Koen; Vermeiren, Robert R J M; van den Brink, Wim; Doreleijers, Theo A H; Popma, Arne

    2015-11-01

    Children with early-onset disruptive behavior disorder (DBD), especially those with callous-unemotional traits, are at risk of developing persistent and severe adult antisocial behavior. One possible underlying mechanism for persistence is deficient reward and loss sensitivity, i.e., deficient incentive processing. However, little is known about the relation between deficient incentive processing and persistence of antisocial behavior into adulthood or its relation with callous-unemotional and other psychopathic traits. In this study, we investigate the relationship between the neural correlates of incentive processing and both DBD persistence and psychopathic traits. In a sample of 128 adolescents (mean age 17.7) with a history of criminal offending before age 12, functional magnetic resonance imaging was performed during a monetary incentive delay task designed to assess neural responses during incentive processing. Neural activation during incentive processing was then associated with DBD persistence and psychopathic traits, measured with the Youth Psychopathic Traits Inventory. Compared with both healthy control subjects and youths who had desisted from DBD, persistent DBD subjects showed lower neural responses in the ventral striatum during reward outcomes and higher neural responses in the amygdala during loss outcomes. Callous-unemotional traits were related to lower neural responses in the amygdala during reward outcomes, while other psychopathic traits were not related to incentive processing. In the current study, aberrant incentive processing is related to persistence of childhood antisocial behavior into late adolescence and to callous-unemotional traits. This mechanism may underlie treatment resistance in a subgroup of antisocial youth and provide a target for intervention. Copyright © 2015 Society of Biological Psychiatry. Published by Elsevier Inc. All rights reserved.

  17. Monetary economics from econophysics perspective

    Science.gov (United States)

    Yakovenko, Victor M.

    2016-12-01

    This is an invited article for the Discussion and Debate special issue of The European Physical Journal Special Topics on the subject "Can Economics be a Physical Science?" The first part of the paper traces the personal path of the author from theoretical physics to economics. It briefly summarizes applications of statistical physics to monetary transactions in an ensemble of economic agents. It shows how a highly unequal probability distribution of money emerges due to irreversible increase of entropy in the system. The second part examines deep conceptual and controversial issues and fallacies in monetary economics from econophysics perspective. These issues include the nature of money, conservation (or not) of money, distinctions between money vs. wealth and money vs. debt, creation of money by the state and debt by the banks, the origins of monetary crises and capitalist profit. Presentation uses plain language understandable to laypeople and may be of interest to both specialists and general public.

  18. Adaptive neural reward processing during anticipation and receipt of monetary rewards in mindfulness meditators.

    Science.gov (United States)

    Kirk, Ulrich; Brown, Kirk Warren; Downar, Jonathan

    2015-05-01

    Reward seeking is ubiquitous and adaptive in humans. But excessive reward seeking behavior, such as chasing monetary rewards, may lead to diminished subjective well-being. This study examined whether individuals trained in mindfulness meditation show neural evidence of lower susceptibility to monetary rewards. Seventy-eight participants (34 meditators, 44 matched controls) completed the monetary incentive delay task while undergoing functional magnetic resonance imaging. The groups performed equally on the task, but meditators showed lower neural activations in the caudate nucleus during reward anticipation, and elevated bilateral posterior insula activation during reward anticipation. Meditators also evidenced reduced activations in the ventromedial prefrontal cortex during reward receipt compared with controls. Connectivity parameters between the right caudate and bilateral anterior insula were attenuated in meditators during incentive anticipation. In summary, brain regions involved in reward processing-both during reward anticipation and receipt of reward-responded differently in mindfulness meditators than in nonmeditators, indicating that the former are less susceptible to monetary incentives. © The Author (2014). Published by Oxford University Press. For Permissions, please email: journals.permissions@oup.com.

  19. Designing fiscal and monetary institutions for a European Monetary Union

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    1995-01-01

    This paper explores under what conditions a European Monetary Union (EMU) is an optimum currency area. The scope for an EMU increases with convergence of structural and fiscal policies, small money holdings, a conservative European Central Bank, and dependent national central banks. How national

  20. Financial crises and monetary policy

    NARCIS (Netherlands)

    Goderis, B.V.G.

    2005-01-01

    In the last three decades, many countries and regions around the world have suffered from currency crises. This thesis investigates the causes of such crises and assesses the role of monetary policy as a tool to avoid them or limit the damage they impose. In addition, it studies the impact of the

  1. Monetary policy during speculative attacks

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Jellingsø, Mads

    2010-01-01

    This paper extends the currency crises model of Aghion, Bacchetta and Banerjee (2000, 2001, 2004) in different directions. Our main result is that a tight monetary policy can have adverse effects beyond the short term and can potentially cause a currency crisis in the medium term, even in cases w...

  2. Monetary Policy after August 2007

    Science.gov (United States)

    Gertler, Mark

    2013-01-01

    In this article, the author describes conceptually how to think about the dramatic changes in monetary policy since the sub-prime crisis of August 2007. He also discusses how to incorporate these changes and related economic concepts in the teaching of an undergraduate class in macroeconomics. A distinction is made between conventional and…

  3. Monetary regimes in open economies

    NARCIS (Netherlands)

    Korpos, A.

    2006-01-01

    This thesis presents a two-country open economy framework for the analysis of strategic interactions among monetary authorities and wage bargaining institutions. From this perspective, the thesis investigates the economic consequences of replacing flexible and fixed exchange rate regimes with a

  4. "Financial Bubbles" and Monetary Policy

    Science.gov (United States)

    Tikhonov, Yuriy A.; Pudovkina, Olga E.; Permjakova, Juliana V.

    2016-01-01

    The relevance of this research is caused by the need of strengthening a role of monetary regulators to prevent financial bubbles in the financial markets. The aim of the article is the analysis of a problem of crisis phenomena in the markets of financial assets owing to an inadequate growth of their cost, owing to subjective reasons. The leading…

  5. Incentives and the siting of radioactive waste facilities

    Energy Technology Data Exchange (ETDEWEB)

    Carnes, S.A.; Copenhaver, E.D.; Reed, J.H.; Soderstrom, E.J.; Sorensen, J.H.; Peelle, E.; Bjornstad, D.J.

    1982-08-01

    The importance of social and institutional issues in the siting of nuclear waste facilities has been recognized in recent years. Limited evidence from a survey of rural Wisconsin residents in 1980 indicates that incentives may help achieve the twin goals of increasing local support and decreasing local opposition to hosting nuclear waste facilities. Incentives are classified according to functional categories (i.e., mitigation, compensation, and reward) and the conditions which may be prerequisites to the use of incentives are outlined (i.e., guarantee of public health and safety, some measure of local control, and a legitimation of negotiations during siting). Criteria for evaluating the utility of incentives in nuclear waste repository siting are developed. Incentive packages may be more useful than single incentives, and nonmonetary incentives, such as independent monitoring and access to credible information, may be as important in eliciting support as monetary incentives. Without careful attention to prerequisites in the siting process it is not likely that incentives will facilitate the siting process.

  6. The Effect of Incentives on Sustainable Behavior

    DEFF Research Database (Denmark)

    Huber, Laura Rosendahl; Sloof, Randolph; Van Praag, Mirjam

    2017-01-01

    This study investigates how children respond to different treatments aimed to fostersustainable behavior in a productive (firm like) setting. We conduct a field experiment using teams of children (aged 11 or 12) that are participating in an entrepreneurship education program in the last grade...... of primary school in the Netherlands. Schools participating in this program are randomly assigned to one of three treatments: the first is purely financially oriented, the second promotes sustainable behavior and the third also induces sustainability by (monetary) incentives. Comparing the first twogroups we...... find that solely promoting sustainability does not lead to a change in sustainable behavior. However, once the monetary reward is linked to sustainable outcome measures, we find a significant positive effect on sustainable behavior. Inour specificsetting, the choice to behave more sustainable comes...

  7. The interaction of fiscal and monetary policy in a monetary union : Balancing credibility and flexibility

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    1995-01-01

    This paper explores how decentralized, national fiscal policies interact with a common monetary policy in a monetary union. We show that fiscal policy plays a more important ro le in stabilizing country-specific shocks than with national monetary policies. Whereas monetary u nification with an

  8. 31 CFR 596.307 - Monetary instruments.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Monetary instruments. 596.307 Section... General Definitions § 596.307 Monetary instruments. The term monetary instruments shall have the meaning..., bank checks, and money orders, or investment securities or negotiable instruments, in bearer form or...

  9. Financial incentives for a healthy life style and disease prevention among older people: a systematic literature review.

    Science.gov (United States)

    Tambor, Marzena; Pavlova, Milena; Golinowska, Stanisława; Arsenijevic, Jelena; Groot, Wim

    2016-09-05

    To motivate people to lead a healthier life and to engage in disease prevention, explicit financial incentives, such as monetary rewards for attaining health-related targets (e.g. smoking cessation, weight loss or increased physical activity) or disincentives for reverting to unhealthy habits, are applied. A review focused on financial incentives for health promotion among older people is lacking. Attention to this group is necessary because older people may respond differently to financial incentives, e.g. because of differences in opportunity costs and health perceptions. To outline how explicit financial incentives for healthy lifestyle and disease prevention work among older persons, this study reviews the recent evidence on this topic. We applied the method of systematic literature review and we searched in PUBMED, ECONLIT and COCHRANE LIBRARY for studies focused on explicit financial incentives targeted at older adults to promote health and stimulate primary prevention as well as screening. The publications selected as relevant were analyzed based on directed (relational) content analysis. The results are presented in a narrative manner complemented with an appendix table that describes the study details. We assessed the design of the studies reported in the publications in a qualitative manner. We also checked the quality of our review using the PRISMA 2009 checklist. We identified 15 studies on the role of explicit financial incentives in changing health-related behavior of older people. They include both, quantitative studies on the effectiveness of financial rewards as well as qualitative studies on the acceptability of financial incentives. The quantitative studies are characterized by a great diversity of designs and provide mixed results on the effects of explicit financial incentives. The results of the qualitative studies indicate limited trust of older people in the use of explicit financial incentives for health promotion and prevention. More

  10. Conquering Credibility for Monetary Policy Under Sticky Confidence

    Directory of Open Access Journals (Sweden)

    Jaylson Jair da Silveira

    2015-06-01

    Full Text Available We derive a best-reply monetary policy when the confidence by price setters on the monetary authority’s commitment to price level targeting may be both incomplete and sticky. We find that complete confidence (or full credibility is not a necessary condition for the achievement of a price level target even when heterogeneity in firms’ price level expectations is endogenously time-varying and may emerge as a long-run equilibrium outcome. In fact, in the absence of exogenous perturbations to the dynamic of confidence building, it is the achievement of a price level target for long enough that, due to stickiness in the state of confidence, rather ensures the conquering of full credibility. This result has relevant implications for the conduct of monetary policy in pursuit of price stability. One implication is that setting a price level target matters more as a means to provide monetary policy with a sharper focus on price stability than as a device to conquer credibility. As regards the conquering of credibility for monetary policy, it turns out that actions speak louder than words, as the continuing achievement of price stability is what ultimately performs better as a confidence-building device.

  11. Euroization, monetary union and the credibility of monetary policy

    Directory of Open Access Journals (Sweden)

    Luka Brkić

    2008-01-01

    Full Text Available Assessment of exchange-rate arrangements has become an integral feature of recent discussions on reform of the international financial architecture. The upshot of this recent interest in exchange-rate regimes is that a large part of the profession appears to have become converted to ‘the hypothesis of the vanishing middle regime’, for countries well-integrated into world capital markets, there is little, if any, middle ground between floating exchange rates and monetary unification. The literature on optimal currency areas emphasizes that policy independence is crucial if countries face recurrent idiosyncratic disturbances. If member-countries of the EMU show sizeable asymmetry in the timing of business cycle phases and their exposure to exogenous shocks, these countries may be better off retaining their ability to conduct monetary and exchange-rate policies. Consequently,the important empirical issue is whether Europe is a region in which country-specific shocks prevail or whether shocks affect most of these countries in a similar way. Euroization is a relatively rare phenomenon. Yet in recent years it has attracted a lot of attention,which can be proved by an increasing number of studies dealing with this problem, as well as an increasing number of countries taking this course of action. This paper deals with the advantages and disadvantages of euroization (dollarization, not only from the theoretical aspect but also on the basis of experience of other dollarized countries. The unequivocal conclusion is that euroization (dollarization is not a monetary policy instrument that can be recommended to Croatia.

  12. Virtual Currencies – monetary policy dilemmas and regulatory challenges

    Directory of Open Access Journals (Sweden)

    Daj Alexis

    2018-01-01

    Full Text Available Although the topic of virtual currencies is not completely new, the current technological developments and the extent of the globalisation process appear to have changed the scope of the research efforts needed to cover not only the advantages and opportunities, but also the disadvantages and threats that the expansion of virtual currencies can pose for monetary policy and the safety of the financial system. This paper comprises a brief presentation of the different types of virtual currencies and identifies some of the most significant implications of large-scale virtual currency adoption for monetary authorities and regulators, while providing an overview of the main trends in the evolution of virtual currencies. In the end, one conclusion is evident: whatever monetary policy or regulatory issues arise from the use of virtual currencies, their consequences are far from virtual.

  13. BALANCE SHEET CHANNEL OF MONETARY POLICY IN INDONESIAN MANUFACTURING FIRMS

    Directory of Open Access Journals (Sweden)

    Muhammad F. Alfarisy

    2013-04-01

    Full Text Available This paper aims to test the hypothesis in a period of monetary tightening. Firms that face liquidity constraint and have limited access from external sources of funds will lower its investment. We use the panel data analysis of Indonesian manufacturing firms and financial variables, LIQ as the ratio between the sum of cash and marketable securities to total assets, and the change in cash flows as a proxy of firm’s liquidity constraint. The result provides some supports for the view that inventory in Indonesian manufacturing firms is sensitive toward cash flow during the monetary tightening period, especially for the firms that produce durable goods.Keywords: Monetary tightening, liquidity constraint, inventory investmentJEL classification numbers: G32, G38.

  14. Incentive systems in multi-level markets for virtual goods

    OpenAIRE

    Schmidt, A.U.

    2005-01-01

    As an alternative to rigid DRM measures, ways of marketing virtual goods through multi-level or networked marketing have raised some interest. This report is a first approach to multi-level markets for virtual goods from the viewpoint of theoretical economy. A generic, kinematic model for the monetary flow in multi-level markets, which quantitatively describes the incentives that buyers receive through resales revenues, is devised. Building on it, the competition of goods is examined in a dyn...

  15. Monetary Policy Rules in Some Transition Economies

    Directory of Open Access Journals (Sweden)

    Mohamed El-Hodiri

    2014-12-01

    Full Text Available In this paper we examine the question of whither monetary rules or ad hoc monetary policies were followed during the early stages of transition and in response to the global financial crisis. We study Eastern European countries and thee CIS countries. We find that during the early of transition, both developed economies and economies in transition used the monetary base, as well as the interest rate, as the main tools for monetary policy. However, in response to the global crises, priority was given to the main objective such as containing inflation and supporting economic growth. Monetary authorities had the additional possible choice of alternative objectives, such as stabilization of nominal exchange rate and real effective exchange rate, or increase in reserves. It was found that countries mostly retained priorities of monetary policy and some of them gave a greater importance to the alternative objectives.

  16. Improving uptake and use of malaria rapid diagnostic tests in the context of artemisinin drug resistance containment in eastern Myanmar: an evaluation of incentive schemes among informal private healthcare providers.

    Science.gov (United States)

    Aung, Tin; White, Christopher; Montagu, Dominic; McFarland, Willi; Hlaing, Thaung; Khin, Hnin Su Su; San, Aung Kyaw; Briegleb, Christina; Chen, Ingrid; Sudhinaraset, May

    2015-03-06

    As efforts to contain artemisinin resistance and eliminate Plasmodium falciparum intensify, the accurate diagnosis and prompt effective treatment of malaria are increasingly needed in Myanmar and the Greater Mekong Sub-region (GMS). Rapid diagnostic tests (RDTs) have been shown to be safe, feasible, and effective at promoting appropriate treatment for suspected malaria, which are of particular importance to drug resistance containment. The informal private sector is often the first point of care for fever cases in malaria endemic areas across Myanmar and the GMS, but there is little published information about informal private provider practices, quality of service provision, or potential to contribute to malaria control and elimination efforts. This study tested different incentives to increase RDT use and improve the quality of care among informal private healthcare providers in Myanmar. The study randomized six townships in the Mon and Shan states of rural Myanmar into three intervention arms: 1) RDT price subsidies, 2) price subsidies with product-related financial incentives, and 3) price subsidies with intensified information, education and counselling (IEC). The study assessed the uptake of RDT use in the communities by cross-sectional surveys of 3,150 households at baseline and six months post-intervention (6,400 households total, 832 fever cases). The study also used mystery clients among 171 providers to assess quality of service provision across intervention arms. The pilot intervention trained over 600 informal private healthcare providers. The study found a price subsidy with intensified IEC, resulted in the highest uptake of RDTs in the community, as compared to subsidies alone or merchandise-related financial incentives. Moreover, intensified IEC led to improvements in the quality of care, with mystery client surveys showing almost double the number of correct treatment following diagnostic test results as compared to a simple subsidy. Results show

  17. Econometric analysis of Malaysian monetary policy

    OpenAIRE

    Raghavan, Mala

    2017-01-01

    Over the years, many economies around the world have evolved in line with globalization and liberalization processes and have witnessed widespread changes in their conduct of monetary policy and the choice of monetary policy regimes. These processes have opened up new avenues and increased opportunities for financial market developments with greater financial integration and strong capital flows. The changing economic and financial environments have made modelling monetary policy and the id...

  18. The Impact of Region, Nitrogen Use Efficiency, and Grower Incentives on Greenhouse Gas Mitigation in Canola (Brassica napus) Production

    Science.gov (United States)

    Hammac, W. A.; Pan, W.; Koenig, R. T.; McCracken, V.

    2012-12-01

    The Environmental Protection Agency (EPA) has mandated through the second renewable fuel standard (RFS2) that biodiesel meet a minimum threshold requirement (50% reduction) for greenhouse gas (GHG) emission reduction compared to fossil diesel. This designation is determined by life cycle assessment (LCA) and carries with it potential for monetary incentives for biodiesel feedstock growers (Biomass Crop Assistance Program) and biodiesel processors (Renewable Identification Numbers). A national LCA was carried out for canola (Brassica napus) biodiesel feedstock by the EPA and it did meet the minimum threshold requirement. However, EPA's national LCA does not provide insight into regional variation in GHG mitigation. The authors propose for full GHG reduction potential of biofuels to be realized, LCA results must have regional specificity and should inform incentives for growers and processors on a regional basis. The objectives of this work were to determine (1) variation in biofuel feedstock production related GHG emissions between three agroecological zones (AEZs) in eastern Washington State (2) the impact of nitrogen use efficiency (NUE) on GHG mitigation potential for each AEZ and (3) the impact of incentives on adoption of oilseed production. Results from objective (1) revealed there is wide variability in range for GHG estimates both across and within AEZs based on variation in farming practices and environment. It is expected that results for objective (2) will show further GHG mitigation potential due to minimizing N use and therefore fertilizer transport and soil related GHG emission while potentially increasing biodiesel production per hectare. Regional based incentives may allow more timely achievement of goals for bio-based fuels production. Additionally, incentives may further increase GHG offsetting by promoting nitrogen conserving best management practices implementation. This research highlights the need for regional assessment/incentive based

  19. Interactions between Monetary and Fiscal Policy via Open Market Operations

    NARCIS (Netherlands)

    Schabert, A.

    2004-01-01

    We examine interactions of monetary and fiscal policy in a sticky price model where public debt is non-neutral, as it provides transaction services. This property is brought about by a legal restriction on open market operations by which only government bonds are eligible. Debt creation eases access

  20. Using Effective Contractual Incentives to Obtain Superior Contractor Performance

    National Research Council Canada - National Science Library

    Venable, Timothy

    2000-01-01

    The purpose of this thesis is to provide the reader with the ability to analyze the effectiveness of incentives and to document innovative approaches to incentive contracting that can be applied to Cost-Plus-Award-Fee (CPAF) contracts...

  1. Brain reward system's alterations in response to food and monetary stimuli in overweight and obese individuals.

    Science.gov (United States)

    Verdejo-Román, Juan; Vilar-López, Raquel; Navas, Juan F; Soriano-Mas, Carles; Verdejo-García, Antonio

    2017-02-01

    The brain's reward system is crucial to understand obesity in modern society, as increased neural responsivity to reward can fuel the unhealthy food choices that are driving the growing obesity epidemic. Brain's reward system responsivity to food and monetary rewards in individuals with excessive weight (overweight and obese) versus normal weight controls, along with the relationship between this responsivity and body mass index (BMI) were tested. The sample comprised 21 adults with obesity (BMI > 30), 21 with overweight (BMI between 25 and 30), and 39 with normal weight (BMI food (Willing to Pay) and monetary rewards (Monetary Incentive Delay). Neural activations within the brain reward system were compared across the three groups. Curve fit analyses were conducted to establish the association between BMI and brain reward system's response. Individuals with obesity had greater food-evoked responsivity in the dorsal and ventral striatum compared with overweight and normal weight groups. There was an inverted U-shape association between BMI and monetary-evoked responsivity in the ventral striatum, medial frontal cortex, and amygdala; that is, individuals with BMIs between 27 and 32 had greater responsivity to monetary stimuli. Obesity is associated with greater food-evoked responsivity in the ventral and dorsal striatum, and overweight is associated with greater monetary-evoked responsivity in the ventral striatum, the amygdala, and the medial frontal cortex. Findings suggest differential reactivity of the brain's reward system to food versus monetary rewards in obesity and overweight. Hum Brain Mapp 38:666-677, 2017. © 2016 Wiley Periodicals, Inc. © 2016 Wiley Periodicals, Inc.

  2. Comparing the effectiveness of individualistic, altruistic, and competitive incentives in motivating completion of mental exercises.

    Science.gov (United States)

    Schofield, Heather; Loewenstein, George; Kopsic, Jessica; Volpp, Kevin G

    2015-12-01

    This study examines the impact of individually oriented, purely altruistic, and a hybrid of competitive and cooperative monetary reward incentives on older adults' completion of cognitive exercises and cognitive function. We find that all three incentive structures approximately double the number of exercises completed during the six-week active experimental period relative to a no incentive control condition. However, the altruistic and cooperative/competitive incentives led to different patterns of participation, with significantly higher inter-partner correlations in utilization of the software, as well as greater persistence once incentives were removed. Provision of all incentives significantly improved performance on the incentivized exercises. However, results of an independent cognitive testing battery suggest no generalizable gains in cognitive function resulted from the training. Copyright © 2015 The Authors. Published by Elsevier B.V. All rights reserved.

  3. The Original Management Incentive Schemes

    OpenAIRE

    Richard T. Holden

    2005-01-01

    During the 1990s, the structure of pay for top corporate executives shifted markedly as the use of stock options greatly expanded. By the early 2000s, as the dot-com boom ended and the Nasdaq stock index melted down, these modern executive incentive schemes were being sharply questioned on many grounds—for encouraging excessive risk-taking and a short-run orientation, for being an overly costly and inefficient method of providing incentives, and even for tempting managers of firms like Enron,...

  4. RISKS AND CONSTRAINTS FOR THE MONETARY STABILITY

    Directory of Open Access Journals (Sweden)

    Camelia MILEA

    2013-09-01

    Full Text Available Starting from the definition according to which monetary stability requires an appropriate level of liquidity in an economy with dynamic objectives, of growth and job creation, non-inflationary in terms of price stability, based on the analysis of the effects of some relevant economic phenomena and on the economic literature, in this article, the author has highlighted some of the risks to monetary stability. One of the major risks is represented by the loss of its instruments, i.e. the instruments for liquidity management, through monetary and exchange rate policies. Another important risk is represented by the capital fluctuation due to various shocks: exchange rate, political, financial and capital account liberalization. Also, as a result of the analysis of relevant studies and of the effects of the European integration in terms of monetary stability, the author has shown the elements on which depends monetary stability. Among these, there are: the existence of an institutional framework with a clear goal and a proper degree of responsibility, strong operational independence of monetary policy, monetary policy implementation with a view to ensuring an appropriate balance between discipline and discretion, the level of the interest rate of monetary policy, the efficiency of the transmission mechanism of monetary policy, the existence of a viable and stable financial system, the existence of enough instruments at hand for the central bank, the structure and soundness of the financial and banking system. The paper is a capitalization of the research project “Global Risks for the Financial and Monetary Stability. Implications for Romania and European Union” elaborated in 2013, at “Victor Slăvescu” Centre for Financial and Monetary Research.

  5. Monetary and Non-Monetary Remittances within Marginalized Migrating Families

    Directory of Open Access Journals (Sweden)

    Katerina JANKU

    2007-04-01

    Full Text Available In this paper, I am using the research experience among Czech Roma families with the migration experience and taking a look on what is being exchanged between „those who went abroad“, and „those who stayed home“ and what can be the function and consequences of it.Sending money, things, ideas etc. back and forth is the mean of closing the range between people within family and thus it facilitates the formation of transnational social ties. As individual examples of those remittances are lying open in front of us, we can see how they are part of the strategic reproduction of the “trans-nationalized” family.Thus, I understand remittances in a broader sense than the economics does. I am proposing to aim not only on salary to be sent abroad to relatively poorer environments. There are not only monetary remittances, but also material, symbolic, social and emotional ones.

  6. The Efficacy of Incentives to Motivate Continued Fitness-Center Attendance in College First-Year Students: A Randomized Controlled Trial

    Science.gov (United States)

    Pope, Lizzy; Harvey, Jean

    2014-01-01

    Objective: To determine whether fitness-center attendance established with the provision of weekly monetary incentives persisted after the discontinuation, or decreased frequency, of incentives. Participants: One hundred seventeen first-year college students participated during the 2011-2012 academic year. Methods: A randomized controlled trial…

  7. Incentives and regulation in banking

    NARCIS (Netherlands)

    Martynova, N.

    2015-01-01

    The financial crisis of 2007-2008 has unveiled the hidden flaws in the regulatory framework of the financial sector. The rules of the game established by regulators were not stringent enough and provided bankers with wrong incentives to gamble with depositors’ money. There are two major challenges

  8. Quantification model of the consequences of monetary policy shocks

    Directory of Open Access Journals (Sweden)

    Coralia Emilia POPA

    2017-11-01

    Full Text Available The monetary analysis based on the BVAR (Bayesian Vector Autoregression model is extremely important in the monetary policy implementation strategy, the information provided is important not only for the Central Bank, but also for the economic agents and the population. Therefore, conducting this analysis at the level of Romania helps to understand better the mechanism by which monetary policy is transmitted in order to achieve the set target, namely inflation targeting, but it also provides us with important information regarding the accession to the euro area. The model we are trying to test helps us understand through the correlations between the interest rate, GDP and the inflation rate how monetary policy responds to shocks. The model follows the methodology presented by Sims and Zha (1998 in the paper "Bayesian Methods for Dynamic Multivariate Models and Using the Bayesian Autoregressive Vector". In the analysis of this model, quarterly data for a minimum of three years, three variables are used to make the results relevant. The data needed to model the model are used in logarithmic form, except for the interest rate, and the outcome is applied to a differentiated premium operator. Of the variables used, the interest rate is the only one that does not allow seasonal adjustment.

  9. Anticipation of monetary and social reward differently activates mesolimbic brain structures in men and women.

    Science.gov (United States)

    Spreckelmeyer, Katja N; Krach, Sören; Kohls, Gregor; Rademacher, Lena; Irmak, Arda; Konrad, Kerstin; Kircher, Tilo; Gründer, Gerhard

    2009-06-01

    Motivation for goal-directed behaviour largely depends on the expected value of the anticipated reward. The aim of the present study was to examine how different levels of reward value are coded in the brain for two common forms of human reward: money and social approval. To account for gender differences 16 male and 16 female participants performed an incentive delay task expecting to win either money or positive social feedback. fMRI recording during the anticipation phase revealed proportional activation of neural structures constituting the human reward system for increasing levels of reward, independent of incentive type. However, in men activation in the prospect of monetary rewards encompassed a wide network of mesolimbic brain regions compared to only limited activation for social rewards. In contrast, in women, anticipation of either incentive type activated identical brain regions. Our findings represent an important step towards a better understanding of motivated behaviour by taking into account individual differences in reward valuation.

  10. STATISTICAL ANALYSIS OF MONETARY POLICY INDICATORS VARIABILITY

    Directory of Open Access Journals (Sweden)

    ANAMARIA POPESCU

    2016-10-01

    Full Text Available This paper attempts to characterize through statistical indicators of statistical data that we have available. The purpose of this paper is to present statistical indicators, primary and secondary, simple and synthetic, which is frequently used for statistical characterization of statistical series. We can thus analyze central tendency, and data variability, form and concentration distributions package data using analytical tools in Microsoft Excel that enables automatic calculation of descriptive statistics using Data Analysis option from the Tools menu. We will also study the links which exist between statistical variables can be studied using two techniques, correlation and regression. From the analysis of monetary policy in the period 2003 - 2014 and information provided by the website of the National Bank of Romania (BNR seems to be a certain tendency towards eccentricity and asymmetry of financial data series.

  11. Innovation in Workforce Incentives

    Science.gov (United States)

    2015-05-13

    Secretary of Defense and Service Secretaries should implement clearer, more tangible recognition, incentives , and enhanced promotion ...May 13, 2015 Innovation in Workforce Incentives Report Documentation Page Form ApprovedOMB No. 0704-0188 Public reporting burden for the collection...Innovation in Workforce Incentives 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT NUMBER 6. AUTHOR(S) 5d. PROJECT NUMBER 5e. TASK NUMBER

  12. Monetary Exchange with Multilateral Matching

    DEFF Research Database (Denmark)

    Julien, Benoît; Kennes, John; King, Ian

    This paper analyzes monetary exchange in a search model allowing for multilateral matches to be formed, according to a standard urn-ballprocess. We consider three physical environments: indivisible goods and money, divisible goods and indivisible money, and divisible goods and money. We compare....... In particular, surplus maximization can be achieved in this setting, in equilibrium, with a positive money supply. Moreover, with flexible prices and directed search, the first best allocation can be attained through price posting or through auctions with lotteries, but not through auctions without lotteries....... Finally, analysis of the case of divisible goods and money can be performed without the assumption of large families (as in Shi (1997)) or the day and night structure of Lagos and Wright (2005)....

  13. 48 CFR 719.273-3 - Incentives for prime contractor participation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Incentives for prime contractor participation. 719.273-3 Section 719.273-3 Federal Acquisition Regulations System AGENCY FOR... responsibility 19.705-5(a)(1). (d) OSDBU Mentoring Award. A non-monetary award will be presented annually to the...

  14. Financial incentives and coverage of child health interventions: a systematic review and meta-analysis.

    Science.gov (United States)

    Bassani, Diego G; Arora, Paul; Wazny, Kerri; Gaffey, Michelle F; Lenters, Lindsey; Bhutta, Zulfiqar A

    2013-01-01

    Financial incentives are widely used strategies to alleviate poverty, foster development, and improve health. Cash transfer programs, microcredit, user fee removal policies and voucher schemes that provide direct or indirect monetary incentives to households have been used for decades in Latin America, Sub-Saharan Africa, and more recently in Southeast Asia. Until now, no systematic review of the impact of financial incentives on coverage and uptake of health interventions targeting children under 5 years of age has been conducted. The objective of this review is to provide estimates on the effect of six types of financial incentive programs: (i) Unconditional cash transfers (CT), (ii) Conditional cash transfers (CCT), (iii) Microcredit (MC), (iv) Conditional Microcredit (CMC), (v) Voucher schemes (VS) and (vi) User fee removal (UFR) on the uptake and coverage of health interventions targeting children under the age of five years. We conducted systematic searches of a series of databases until September 1st, 2012, to identify relevant studies reporting on the impact of financial incentives on coverage of health interventions and behaviors targeting children under 5 years of age. The quality of the studies was assessed using the CHERG criteria. Meta-analyses were undertaken to estimate the effect when multiple studies meeting our inclusion criteria were available. Our searches resulted in 1671 titles identified 25 studies reporting on the impact of financial incentive programs on 5 groups of coverage indicators: breastfeeding practices (breastfeeding incidence, proportion of children receiving colostrum and early initiation of breastfeeding, exclusive breastfeeding for six months and duration of breastfeeding); vaccination (coverage of full immunization, partial immunization and specific antigens); health care use (seeking healthcare when child was ill, visits to health facilities for preventive reasons, visits to health facilities for any reason, visits for health

  15. The efficacy of incentives to motivate continued fitness-center attendance in college first-year students: a randomized controlled trial.

    Science.gov (United States)

    Pope, Lizzy; Harvey, Jean

    2014-01-01

    To determine whether fitness-center attendance established with the provision of weekly monetary incentives persisted after the discontinuation, or decreased frequency, of incentives. One hundred seventeen first-year college students participated during the 2011-2012 academic year. A randomized controlled trial with control, discontinued-incentive, and continued-incentive conditions was conducted. During fall semester, students in incentive conditions received weekly monetary payments for meeting fitness-center attendance goals. During spring semester, discontinued-incentive condition participants no longer received incentives, whereas continued-incentive condition participants received payments on a variable-interval schedule. ID-card attendance records tracked fitness-center attendance. Goal completion decreased from 63% in the incentive groups during the fall semester to 3% in the discontinued-incentive condition, and 39% in the continued-incentive condition during the spring semester. There was not a significant interaction between condition and body mass index change, F(6, 332) = 0.67, p = .68. Incentive discontinuation resulted in students no longer meeting fitness-center attendance goals. A variable-interval reward schedule better maintained attendance.

  16. Incentives for smoking cessation.

    Science.gov (United States)

    Cahill, Kate; Hartmann-Boyce, Jamie; Perera, Rafael

    2015-05-18

    -up (up to 24 weeks post-partum) of 3.60 (95% CI 2.39 to 5.43; 1295 participants, moderate-quality studies) in favour of incentives. Three of the trials demonstrated a clear benefit for contingent rewards; one delivered monthly vouchers to confirmed quitters and to their designated 'significant other supporter', achieving a quit rate in the intervention group of 21.4% at two months post-partum, compared with 5.9% among the controls. Another trial offered a scaled programme of rewards for the percentage of smoking reduction achieved over the course of the 12-week intervention, and achieved an intervention quit rate of 31% at six weeks post-partum, compared with no quitters in the control group. The largest (UK-based) trial provided intervention quitters with up to GBP 400-worth of vouchers, and achieved a quit rate of 15.4% at longest follow-up, compared to the control quit rate of 4%. Four trials confirmed that payments made to reward a successful quit attempt (i.e. contingent), compared to fixed payments for attending the antenatal appointment (non-contingent), resulted in higher quit rates. Front-loading of rewards to counteract early withdrawal symptoms made little difference to quit rates. Incentives appear to boost cessation rates while they are in place. The two trials recruiting from work sites that achieved sustained success rates beyond the reward schedule concentrated their resources into substantial cash payments for abstinence. Such an approach may only be feasible where independently-funded smoking cessation programmes are already available, and within a relatively affluent and educated population. Deposit-refund trials can suffer from relatively low rates of uptake, but those who do sign up and contribute their own money may achieve higher quit rates than reward-only participants. Incentive schemes conducted among pregnant smokers improved the cessation rates, both at the end-of-pregnancy and post-partum assessments. Current and future research might

  17. Neural effects of positive and negative incentives during marijuana withdrawal.

    Directory of Open Access Journals (Sweden)

    Francesca M Filbey

    Full Text Available In spite of evidence suggesting two possible mechanisms related to drug-seeking behavior, namely reward-seeking and harm avoidance, much of the addiction literature has focused largely on positive incentivization mechanisms associated with addiction. In this study, we examined the contributing neural mechanisms of avoidance of an aversive state to drug-seeking behavior during marijuana withdrawal. To that end, marijuana users were scanned while performing the monetary incentive delay task in order to assess positive and negative incentive processes. The results showed a group x incentive interaction, such that marijuana users had greater response in areas that underlie reward processes during positive incentives while controls showed greater response in the same areas, but to negative incentives. Furthermore, a negative correlation between withdrawal symptoms and response in the amygdala during negative incentives was found in the marijuana users. These findings suggest that although marijuana users have greater reward sensitivity and less harm avoidance than controls, that attenuated amygdala response, an area that underlies fear and avoidance, was present in marijuana users with greater marijuana withdrawal symptoms. This is concordant with models of drug addiction that involve multiple sources of reinforcement in substance use disorders, and suggests the importance of strategies that focus on respective mechanisms.

  18. Social and monetary reward processing in autism spectrum disorders

    Directory of Open Access Journals (Sweden)

    Delmonte Sonja

    2012-09-01

    Full Text Available Abstract Background Social motivation theory suggests that deficits in social reward processing underlie social impairments in autism spectrum disorders (ASD. However, the extent to which abnormalities in reward processing generalize to other classes of stimuli remains unresolved. The aim of the current study was to examine if reward processing abnormalities in ASD are specific to social stimuli or can be generalized to other classes of reward. Additionally, we sought to examine the results in the light of behavioral impairments in ASD. Methods Participants performed adapted versions of the social and monetary incentive delay tasks. Data from 21 unmedicated right-handed male participants with ASD and 21 age- and IQ-matched controls were analyzed using a factorial design to examine the blood-oxygen-level-dependent (BOLD response during the anticipation and receipt of both reward types. Results Behaviorally, the ASD group showed less of a reduction in reaction time (RT for rewarded compared to unrewarded trials than the control group. In terms of the fMRI results, there were no significant group differences in reward circuitry during reward anticipation. During the receipt of rewards, there was a significant interaction between group and reward type in the left dorsal striatum (DS. The ASD group showed reduced activity in the DS compared to controls for social rewards but not monetary rewards and decreased activation for social rewards compared to monetary rewards. Controls showed no significant difference between the two reward types. Increased activation in the DS during social reward processing was associated with faster response times for rewarded trials, compared to unrewarded trials, in both groups. This is in line with behavioral results indicating that the ASD group showed less of a reduction in RT for rewarded compared to unrewarded trials. Additionally, de-activation to social rewards was associated with increased repetitive behavior in

  19. OPEN MARKETING - A SPECIFIC FORM OF MONETARY POLICY IN ORDER TO MONETARY VOLUME ADJUSTMENT

    Directory of Open Access Journals (Sweden)

    CHIRTOC IRINA- ELENA

    2013-02-01

    Full Text Available : Applying a uniform monetary policy by all European Union member states also require harmonization of monetary policy instruments and national interbank market integration also. Monetary policy instruments used by NBR (National Bank of Romania have evolved over time as a result of alignment with the instruments used by the European Central Bank. Money market operations in Romania have appeared for the first time in 1997. Starting from the wishing of Central Bank to reduce excess liquidity in 2001 they became the most important monetary policy tool used by the National Bank of Rumania. Open market operations are the instrument of monetary policy, central banking in Eastern Europe to work towards monetary contraction or expansion. Open-market operations in recent years have become the most important monetary policy instrument they play an essential role in promoting monetary policy by the central bank. Through open marketing operations the monetary authorities aim to alter bank reserves and thereby influence the amount of currency in circulation. In Romania, the open marketing operations are initiated by the National Bank of Romania, which determines what type of tools will be used while setting terms and conditions of the implementation. Through the use and control of monetary policy instruments, the central bank as the state bank seeks managing liquidity in the economy.

  20. Incentives from Curriculum Tracking

    Science.gov (United States)

    Koerselman, Kristian

    2013-01-01

    Curriculum tracking creates incentives in the years before its start, and we should therefore expect test scores to be higher during those years. I find robust evidence for incentive effects of tracking in the UK based on the UK comprehensive school reform. Results from the Swedish comprehensive school reform are inconclusive. Internationally, I…

  1. Incentives and Earnings Growth

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    2013-01-01

    by investigating the effects that explicit short-run incentives and implicit incentives have on earnings growth. The model’s predictions are tested using personnel records from a large bank and are found to be consistent with the observed earnings growth during the first half of the employees’ careers....

  2. Personal financial incentives in health promotion: where do they fit in an ethic of autonomy?

    Science.gov (United States)

    Ashcroft, Richard E

    2011-06-01

    This paper reviews the ethical controversy concerning the use of monetary incentives in health promotion, focussing specifically on the arguments relating to the impact on personal autonomy of such incentives. Offering people small amounts of money in the context of health promotion and medical care has been attempted in a number of settings in recent years. This use of personal financial incentives has attracted a degree of ethical controversy. One form of criticism is that such schemes interfere with the autonomy of the patient or citizen in an illegitimate way. This paper presents a thematic analysis of the main arguments concerning personal autonomy and the use of monetary incentives in behaviour change. The main moral objections to the uses of incentives are that they may be in general or in specific instances paternalistic, coercive, involve bribery, or undermine the agency of the person. While incentive schemes may engage these problems on occasion, there is no good reason to think that they do so inherently and of necessity. We need better behavioural science evidence to understand how incentives work, in order to evaluate their moral effects in practice. © 2011 Blackwell Publishing Ltd.

  3. Disconnecting force from money: effects of basal ganglia damage on incentive motivation.

    Science.gov (United States)

    Schmidt, Liane; d'Arc, Baudouin Forgeot; Lafargue, Gilles; Galanaud, Damien; Czernecki, Virginie; Grabli, David; Schüpbach, Michael; Hartmann, Andreas; Lévy, Richard; Dubois, Bruno; Pessiglione, Mathias

    2008-05-01

    Bilateral basal ganglia lesions have been reported to induce a particular form of apathy, termed auto-activation deficit (AAD), principally defined as a loss of self-driven behaviour that is reversible with external stimulation. We hypothesized that AAD reflects a dysfunction of incentive motivation, a process that translates an expected reward (or goal) into behavioural activation. To investigate this hypothesis, we designed a behavioural paradigm contrasting an instructed (externally driven) task, in which subjects have to produce different levels of force by squeezing a hand grip, to an incentive (self-driven) task, in which subjects can win, depending on their hand grip force, different amounts of money. Skin conductance was simultaneously measured to index affective evaluation of monetary incentives. Thirteen AAD patients with bilateral striato-pallidal lesions were compared to thirteen unmedicated patients with Parkinson's; disease (PD), which is characterized by striatal dopamine depletion and regularly associated with apathy. AAD patients did not differ from PD patients in terms of grip force response to external instructions or skin conductance response to monetary incentives. However, unlike PD patients, they failed to distinguish between monetary incentives in their grip force. We conclude that bilateral striato-pallidal damage specifically disconnects motor output from affective evaluation of potential rewards.

  4. The Monetary Policy – Restrictive or Expansive?

    Directory of Open Access Journals (Sweden)

    Adam Szafarczyk

    2007-12-01

    Full Text Available The monetary policy plays an important role in macroeconomic policy of government. There is a question concerning type of this policy ñ expansive or restrictive (easy or tidy monetary policy. Unfortunately, we have a lot of criteria. Each of them gives us other answer. So due to equitation of Irving Fisher we have dominantly expansive monetary policy. This same situation exists when we use nominal value of rediscount interest rate of central bank. Opposite result appears when we use real value of this interest rate or level of obligatory reserve. Taking under consideration liquidity on money market we know, that level of interest rate is too high.  

  5. EHR Incentive Programs - Data and Reports

    Data.gov (United States)

    U.S. Department of Health & Human Services — As of March 2013, more than 259,000 health care providers received payment for participating in the Medicare and Medicaid Electronic Health Record (EHR) Incentive...

  6. The impact of facility audits, evaluation reports and incentives on motivation and supply management among family planning service providers: an interventional study in two districts in Maputo Province, Mozambique.

    Science.gov (United States)

    Vermandere, Heleen; Galle, Anna; Griffin, Sally; de Melo, Málica; Machaieie, Lino; Van Braeckel, Dirk; Degomme, Olivier

    2017-05-02

    Good progress is being made towards universal access to contraceptives, however stock-outs still jeopardize progress. A seldom considered but important building block in optimizing supply management is the degree to which health workers feel motivated and responsible for monitoring supply. We explored how and to what extent motivation can be improved, and the impact this can have on avoiding stock-outs. Fifteen health facilities in Maputo Province, Mozambique, were divided into 3 groups (2 intervention groups and 1 control), and 10 monthly audits were implemented in each of these 15 facilities to collect data through examination of stock cards and stock-counts of 6 contraceptives. Based on these audits, the 2 intervention groups received a monthly evaluation report reflecting the quality of their supply management. One of these 2 groups was also awarded material incentives conditional on their performance. A Wilcoxon-Mann Whitney test was used to detect differences between the groups in the average number of stocked-out centres, while changes over time were verified through applying a Friedman test. Additionally, staff motivation was measured through interviewing health care providers of all centres at baseline, and after 5 and 10 months. To detect differences between the groups and changes over time, a Kruskal Wallis and a Wilcoxon signed-rank test were applied, respectively. Motivation reported by providers (n = 55, n = 40 and n = 39 at baseline, 1st and 2nd follow-up respectively) was high in all groups, during all rounds, and did not change over time. Facilities in the intervention groups had better supply management results (including less stock-outs) during the entire intervention period compared with those in the control group, but the difference was only significant for the group receiving both material incentives and a monthly evaluation. However, our data also suggest that supply management also improved in control facilities, receiving

  7. Independent functional connectivity networks underpin food and monetary reward sensitivity in excess weight.

    Science.gov (United States)

    Verdejo-Román, Juan; Fornito, Alex; Soriano-Mas, Carles; Vilar-López, Raquel; Verdejo-García, Antonio

    2017-02-01

    Overvaluation of palatable food is a primary driver of obesity, and is associated with brain regions of the reward system. However, it remains unclear if this network is specialized in food reward, or generally involved in reward processing. We used functional magnetic resonance imaging (fMRI) to characterize functional connectivity during processing of food and monetary rewards. Thirty-nine adults with excess weight and 37 adults with normal weight performed the Willingness to Pay for Food task and the Monetary Incentive Delay task in the fMRI scanner. A data-driven graph approach was applied to compare whole-brain, task-related functional connectivity between groups. Excess weight was associated with decreased functional connectivity during the processing of food rewards in a network involving primarily frontal and striatal areas, and increased functional connectivity during the processing of monetary rewards in a network involving principally frontal and parietal areas. These two networks were topologically and anatomically distinct, and were independently associated with BMI. The processing of food and monetary rewards involve segregated neural networks, and both are altered in individuals with excess weight. Copyright © 2016 Elsevier Inc. All rights reserved.

  8. Differential heart rate responses to social and monetary reinforcement in women with obesity.

    Science.gov (United States)

    Kube, Jana; Schrimpf, Anne; García-García, Isabel; Villringer, Arno; Neumann, Jane; Horstmann, Annette

    2016-06-01

    Obesity is often accompanied by weight stigmatization; subsequently, individuals with obesity frequently face social rejection. It has been shown that recurrent negative social experiences can alter the perception of social cues. However, the way individuals with obesity process social stimuli is not well understood. This study aims to investigate obesity-related alterations in social compared to nonsocial information processing. Women with obesity (n = 14) and without obesity (n = 14) participated in a social and a monetary incentive delay task in which they anticipated and received positive, negative, and neutral outcomes in the form of faces or money. During the experiment, phasic heart rate changes and reaction times were measured. Women with obesity, compared to lean women, exhibited a stronger differentiation during the anticipation of monetary and social reinforcement, showing slower reaction times to social cues compared to monetary cues. During the outcome processing phase, women with obesity relative to controls demonstrated diminished heart rate responses particularly to negative social outcomes. Interestingly, differences in cardiac responses in participants with obesity were moderated by weight-related teasing experiences. In women with obesity, a higher BMI was associated with blunted cardiac responses to social cues relative to monetary cues only if they reported more emotional pain after weight-related teasing. Our results contribute to a better understanding of social information processing in obesity and give first evidence for the role of negative social experiences in reinforcement processing. © 2016 Society for Psychophysiological Research.

  9. THEORIES OF MONETARY POLICY – FROM THE MERCANTILIST PRAGMATISM TO THE MODERN MONETARY THEORIES

    Directory of Open Access Journals (Sweden)

    Zina CIORAN

    2014-06-01

    Full Text Available The purpose of this article is to perform an incursion into the monetary theories, from the mercantilists to the modern theories. The monetary area is an important component of the economic system which has always been and still is tormented by anxiety and uncertainty. The currency can be considered a barometer that promptly and precisely registers a country’s economic oscillations and the fundamental problems that torment the human society nowadays is mainly expressed in monetary terms. Being one of the major tools the state uses to balance the economy, the monetary politics has permanently generated fervent controversies and discussions. Scientific research of the monetary phenomenon, facing the complexity of the currency problems with a diversity of currency types and with the complex currency role within the company, as well as the explosive evolution of the financial institutions, structures and monetary and financial products has always kept the monetary theory in the beginning of a new research program. The monetary theory center, around which the economists‘ thinking is founded, is formed of: emphasizing the money role in the economy, the money measurement, the money offer and request with their influence factors, the monetary balance theory, the monetary impulse transition modality as well as the monetary behavior on the part of the economic agents. It was established that each economical thinking movement marked the social, economical and political life for a certain amount of time, each school has criticized or supported their predecessors’ ideas contributing to the enrichment of the monetary theory and the economic development, implicitly.

  10. THEORIES OF MONETARY POLICY – FROM THE MERCANTILIST PRAGMATISM TO THE MODERN MONETARY THEORIES

    OpenAIRE

    Zina CIORAN

    2014-01-01

    The purpose of this article is to perform an incursion into the monetary theories, from the mercantilists to the modern theories. The monetary area is an important component of the economic system which has always been and still is tormented by anxiety and uncertainty. The currency can be considered a barometer that promptly and precisely registers a country’s economic oscillations and the fundamental problems that torment the human society nowadays is mainly expressed in monetary...

  11. Monetary valuation of biodiversity: sense or nonsense?

    NARCIS (Netherlands)

    Nunes, P.A.L.D.; van den Bergh, J.C.J.M.

    2001-01-01

    This paper critically evaluates the notion and application of economic, monetary valuation of biological diversity, or biodiversity. For this purpose four levels of diversity are considered: genes, species, ecosystems and functions. Different perspectives on biodiversity value can be characterized

  12. Modern Paradigm in Macroeconomic Monetary Theories

    Directory of Open Access Journals (Sweden)

    Daniel Lipară

    2016-01-01

    We appreciated that in order to achieve macroeconomic stability a mix between monetary andfiscal policies is needed, fixed rules should be applied in interdependence with discretionarygovernment measures and acting upon incomes is the best way to fight against inflation.

  13. Labour market asymmetries in a monetary union

    DEFF Research Database (Denmark)

    Seneca, Martin; Andersen, Torben M.

    This paper takes a first step in analysing how a monetary union performs in the presence of labour market asymmetries. Differences in wage flexibility, market power and country sizes are allowed for in a setting with both countryspecific and aggregate shocks. The implications of asymmetries...... for both the overall performance of the monetary union and the country-specific situation are analysed. It is shown that asymmetries are not only critical for countryspecific performance but also for the overall performance of the monetary union. A striking finding is that aggregate output volatility...... this is not necessarily the case for aggregate shocks. There may thus be a tension between the degree of flexibility considered optimal at the country level and at the aggregate level within the monetary union....

  14. Monetary policy as an optimum currency area criterion

    OpenAIRE

    Groll, Dominik

    2014-01-01

    Whether countries benefit from forming a monetary union depends critically on the way monetary policy is conducted. This is mainly because monetary policy determines whether and to what extent a flexible nominal exchange rate fosters or hampers macroeconomic stabilization, even if monetary policy does not target the nominal exchange rate explicitly.

  15. Channels of Monetary Transmission in the CIS

    OpenAIRE

    Jamilov, Rustam

    2012-01-01

    Twenty years have passed since the breakdown of the Soviet Union, and it is time to draw a concluding line for monetary policy efficiency in the Commonwealth of Independent States (CIS). We propose a comprehensive treatment of the subject for nine members of the CIS for the period of 2000-2009. Four transmission channels are investigated: interest rate channel, exchange rate channel, bank lending channel, and monetary channel. First, we design a VAR framework for each CIS member-state and inv...

  16. Asymmetric monetary policy effects in EMU

    OpenAIRE

    Clausen, Volker; Hayo, Bernd

    2002-01-01

    This paper uses a semi-structural dynamic modelling approach to investigate asymmetric monetary transmission in Europe. A system of equations containing reaction functions for monetary policy, output and inflation equations is simultaneously estimated for France, Germany, and Italy. Extensive cross equation tests show that relatively large differences in simulated impulse responses are still consistent with the notion that the transmission mechanism is homogeneous across the three major EMU c...

  17. The risk-adjusted monetary policy rule

    OpenAIRE

    Nakata, Taisuke; Schmidt, Sebastian

    2016-01-01

    Macroeconomists are increasingly using nonlinear models to account for the effects of risk in the analysis of business cycles. In the monetary business cycle models widely used at central banks, an explicit recognition of risk generates a wedge between the inflation-target parameter in the monetary policy rule and the risky steady state (RSS) of inflation - the rate to which inflation will eventually converge - which can be undesirable in some practical applications. We propose a simple modif...

  18. The Controllability of Monetary Aggregates in Pakistan

    OpenAIRE

    Anjum Siddiqui; Ahmad Waheed

    1995-01-01

    The introduction of new financial instruments and the consequent asset substitutability since the advent of financial deregulation in 1991 has been accompanied by volatility of the money multiplier and the monetary aggregates. While money demand studies exist [Khan (1980)), the modelling of the supply side of money and, in general, the impact of financial innovations on money multipliers and monetary aggregates has been largely ignored. In a recent study, Siddiqui and Waheed (1994a) found tha...

  19. CONSIDERATIONS REGARDING MONETARY POLICY IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Pitorac Ruxandra

    2015-07-01

    Full Text Available The main objective of this paper is to study the Romania’s monetary policy, in the period 1996-2013. The research starts with a theoretical review of the monetary policy, whose main purpose is influencing the broad money supply and the lending requirements and the institution in charge of achieving this objective is the Central Bank, highlighting its impact upon the economic activity, through the Keynesian analysis model IS-LM and a correlation between the monetary policy measures and the phases of the economic cycle whose results indicate that during the recession periods it is recommended to reduce interest rates in order to stimulate investments, by raising the money supply, and during the expansion period it is recommended to increase the interest rate in order to cut back the money supply. Starting from this premises, the research takes into account the study of the monetary policy measures adopted by the governmental authority of Romania, making a quantitative analysis of the main macroeconomic indicators: the real interest rate, the lending interest rate, the deposit interest rate and the broad money supply and through a multifactorial regression, highlighting the impact of the interest rates upon the monetary aggregate M2. Moreover, a comparison between the monetary policy measures adopted in Romania and the monetary policies recommended by specialized literature has been done, and the results have indicated that during recession periods the attention of the governmental authorities is focused upon adopting the right measures, but during the expansion periods this doesn’t happen. The results of this research highlight the economic situation in Romania and the way in which the governmental authority intervened, through the monetary policy measures, in order to mitigate the negative effects of the cyclical fluctuations.

  20. Testing the Monetary Model for Exchange Rate Determination in South Africa: Evidence from 101 Years of Data

    Directory of Open Access Journals (Sweden)

    Riané de Bruyn

    2013-03-01

    Full Text Available Evidence in favor of the monetary model of exchange rate determination for the South African Rand is, at best, mixed. A co-integrating relationship between the nominal exchange rate and monetary fundamentals forms the basis of the monetary model. With the econometric literature suggesting that the span of the data, not the frequency, determines the power of the co-integration tests and the studies on South Africa primarily using short-span data from the post-Bretton Woods era, we decided to test the long-run monetary model of exchange rate determination for the South African Rand relative to the US Dollar using annual data from 1910 – 2010. The results provide some support for the monetary model in that long-run co-integration is found between the nominal exchange rate and the output and money supply deviations. However, the theoretical restrictions required by the monetary model are rejected. A vector error-correction model identifies both the nominal exchange rate and the monetary fundamentals as the channel for the adjustment process of deviations from the long-run equilibrium exchange rate. A subsequent comparison of nominal exchange rate forecasts based on the monetary model with those of the random walk model suggests that the forecasting performance of the monetary model is superior.

  1. The impact of incentives on intrinsic and extrinsic motives for fitness-center attendance in college first-year students.

    Science.gov (United States)

    Pope, Lizzy; Harvey, Jean

    2015-01-01

    A criticism of incentives for health behaviors is that incentives undermine intrinsic motivation. The objective of this study was to determine the impact of monetary incentive provision on participation motives for exercise in first-year college students at a northeastern public university. Randomized-controlled trial. Public university in the Northeastern United States. One hundred seventeen first-year college students. Participants were randomized to one of three conditions: a control condition receiving no incentives for meeting fitness-center attendance goals; a discontinued-incentive condition receiving weekly incentives during fall semester 2011, and no incentives during spring semester 2012; or a continued-incentive condition receiving weekly incentives during fall semester, and incentives on a variable-interval schedule during spring semester. The Exercise Motivation Inventory 2 measured exercise participation motives at baseline, end of fall semester, and end of spring semester. Fitness-center attendance was monitored by using ID-card check-in/check-out records. Repeated-measures analyses using linear mixed models with first-order autoregressive covariance structures were run to compare motive changes in the three conditions. Participation motives of Enjoyment and Revitalization associated with intrinsic motivation did not decrease significantly over time in any of the conditions, F(4, 218) = 2.25, p = .065 and F(4, 220) = 1.67, p = .16, respectively. Intrinsically associated participation motives for exercise did not decrease with incentive provision. Therefore, incentives may encourage fitness-center attendance without negatively impacting participation motives for exercise.

  2. MONETARY POLICY AND PARALLEL FINANCIAL MARKETS

    Directory of Open Access Journals (Sweden)

    Adela IONESCU

    2015-07-01

    Full Text Available Monetary policy is one of the economic policy "tools" through which it acts on the currency demand and supply in the economy. The importance of monetary policy results from its primary objective - price stability, plus limiting inflation and maintaining internal and external value of the currency. Responsibility for achieving these objectives rests with the Central Bank, which has a monopoly in the formulation and the implementation of monetary policy targets. Price stability is the primary objective of monetary policy and also the central objective of economic policy, alongside with: sustainable economic growth, full employment of labor force, balance of external payments equilibrium. To achieve these overall objectives of economic policy, monetary policy acts through currency as an instrument of action and it represents the overall action exercised by the monetary authority to influence economic development and to ensure price stability. In economic processes numerous factors emerge to the sale or purchase of capital available for a shorter or longer period and to achieving their aspirations of maximize capital gains, they are negotiating, they are confronting and agreeing within specific market relationships. The entirety of relations between various economic issues, enterprises and individuals, between them and the banking intermediaries, as well as the relationship between banks and other credit institutions on the transfer of cash money as specific form of debt and fructification of capital, form capital markets or credit markets. These markets are carved up according to the nature and purposes of the participants.

  3. Extrinsic incentives and tax compliance

    OpenAIRE

    Sour, Laura; Gutiérrez Andrade, Miguel Ángel

    2011-01-01

    This paper models the impact of extrinsic incentives in a tax compliance model. It also provides experimental evidence that confirms the existence of a positive relationship between rewards and tax compliance. If individuals are audited, rewards for honest taxpayers are effective in increasing the level of tax compliance. These results are particularly relevant in countries where there is little respect for tax law since rewards can contribute to crowding in the intrinsic motivation to comply.

  4. The advantage of international fiscal cooperation under alternative monetary regimes

    DEFF Research Database (Denmark)

    Jensen, Henrik

    1996-01-01

    We consider the strategic interplay between international monetary and fiscal cooperation in a world of interdependent economies. Motivated by the ongoing discussion of monetary unification of Europe, focus is on monetary cooperation, and in particular how its performance is altered by the introd...... by the introduction of fiscal (tax) cooperation. Our main result is that fiscal cooperation may be disadvantageous when monetary cooperation lacks credibility with private sectors. On the other hand, fiscal cooperation under a rule based monetary regime is always advantageous...

  5. Benefici, problemi e prospettive dell’integrazione monetaria in Europa (Benefits, issues and future of monetary integration in Europe

    Directory of Open Access Journals (Sweden)

    Carlo Panico

    2015-09-01

    Full Text Available This article discusses European monetary integration, recalling the benefits and the costs of the euro for the Member States. It reviews the policies adopted in the wake of the financial crisis and discusses the associated challenges. An outlook on the possible long-term design of monetary policy is provided, mainly in terms of EU coordination processes.

  6. Financial frictions and the monetary transmission mechanism: theory, evidence and policy implications

    OpenAIRE

    Charles BEAN; Larsen, Jens D. J.; Nikolov, Kalin

    2002-01-01

    This paper provides a brief survey of the role of financial frictions in the monetary transmission mechanism. After noting some of the key stylised facts that any model of the transmission mechanisms must be consistent with, we discuss both the classical interest rate channel and the credit and bank lending channels of monetary transmission. We then review the empirical evidence relating to the relative importance of these channels. Finally we consider what impact the presence of significant ...

  7. A Neural Computational Model of Incentive Salience

    Science.gov (United States)

    Zhang, Jun; Berridge, Kent C.; Tindell, Amy J.; Smith, Kyle S.; Aldridge, J. Wayne

    2009-01-01

    Incentive salience is a motivational property with ‘magnet-like’ qualities. When attributed to reward-predicting stimuli (cues), incentive salience triggers a pulse of ‘wanting’ and an individual is pulled toward the cues and reward. A key computational question is how incentive salience is generated during a cue re-encounter, which combines both learning and the state of limbic brain mechanisms. Learning processes, such as temporal-difference models, provide one way for stimuli to acquire cached predictive values of rewards. However, empirical data show that subsequent incentive values are also modulated on the fly by dynamic fluctuation in physiological states, altering cached values in ways requiring additional motivation mechanisms. Dynamic modulation of incentive salience for a Pavlovian conditioned stimulus (CS or cue) occurs during certain states, without necessarily requiring (re)learning about the cue. In some cases, dynamic modulation of cue value occurs during states that are quite novel, never having been experienced before, and even prior to experience of the associated unconditioned reward in the new state. Such cases can include novel drug-induced mesolimbic activation and addictive incentive-sensitization, as well as natural appetite states such as salt appetite. Dynamic enhancement specifically raises the incentive salience of an appropriate CS, without necessarily changing that of other CSs. Here we suggest a new computational model that modulates incentive salience by integrating changing physiological states with prior learning. We support the model with behavioral and neurobiological data from empirical tests that demonstrate dynamic elevations in cue-triggered motivation (involving natural salt appetite, and drug-induced intoxication and sensitization). Our data call for a dynamic model of incentive salience, such as presented here. Computational models can adequately capture fluctuations in cue-triggered ‘wanting’ only by

  8. Motivating employees through incentives: productive or a counterproductive strategy.

    Science.gov (United States)

    Qayum, Mehran; Sawal, Shefa Haider; Khan, Hassan Mehmood

    2014-05-01

    The disparity between human resource in health and provision of health services is a growing concern worldwide. Many developing countries are facing this crisis and therefore human resource in health is considered a high priority on their agenda.This imbalance between supplies of human resource is exacerbated by migration of health workers in many countries. Understanding the motivational factor is an important aspect to retain the migrating health workforce. This paper analyses the role of financial and non financial incentives in motivating the health work force. A review of available literature was conducted to understand the role of motivational factor in retaining health workforce. A review of current literature found that an incentive plays a key role in motivating a health worker. Financial incentives are useful in improving the compliance to standard policies and procedures. Comprehensive integrated incentive system approach should be established to develop a sustainable health workforce with required skill. Likewise monetary incentives should be linked to adherence to provincial and national guidelines and procedures. Sustainability could be ensured by commitment of government, political will and involvement of key stakeholders and decision makers.

  9. Monetary Union is the future of EAEU

    Directory of Open Access Journals (Sweden)

    Vyacheslav S. Kuznetsov

    2015-01-01

    Full Text Available The president of Russian Federation V. Putin's Order from the 10th of March 2015 to the Government and Central Bank of Russia to work on the plan of creating Monetary Union of EAEU by the 1st of September cannot be ignored by scientific community's attention of Russia and other Eurasian countries. Strategic goal of this document is pretty clear - to create an island of currency stability in the surrounding of Jamaica's Monetary nonsystem and existing monopolar and assimetric world's dollar order, to minimize the dependency of Eurasian countries on US dollar, to hold its world expansion, to freeze the process of financing of USA imbalances by all countries, to turn back the process of dollarization of Eurasian countries and world's dollarization and relieve the world's community from future financial crises. The world's financial and economic crisis of 2008-2010 has clearly shown that US monetary, credit and banking system has become a permanent source of future turmoil of world's scale. It creates a necessity to activate the process of monetary integration of countries on the regional level and transformation of the modern Jamaica's world's dollar standard into the world's multipolar monetary standard. In this article the author analyses he stages of setting up the Eurasian regional monetary order from the creation of multilateral settlement system using common regional currency unit to the introduction of Eurasian currency system with Eurasian currency unit, which can be transformed in the future into the Eurasian Economic and monetary union with common regional currency (euras, which can restrict the world's monopoly position of the dollar.

  10. The co-movement of monetary policy and its time-varying nature: A DCCA approach

    Science.gov (United States)

    Rohit, Abhishek; Mitra, Subrata Kumar

    2018-02-01

    Employing a novel methodology of DCCA cross-correlation coefficient (ρDCCA), this study attempts to provide fresh evidences for the co-movement of monetary policies of the advanced (AEs) as well as the emerging economies (EMEs) vis-à-vis the United States. A higher degree of monetary co-movement as measured by ρDCCA values, is identified for the AEs as compared to the EMEs. Lower co-movement of monetary policy is especially noticeable in the short run for EMEs. We further investigate the time-varying nature of such co-movements for the AEs by splitting the period (1980-2014) into four sub periods and also by performing a rolling window estimation for the entire period to reveal smoother dynamics. Significant evidence of higher monetary coordination is revealed for sub-periods with stronger trade and financial linkages.

  11. Monetary conversion factors for economic evaluations of substance use disorders.

    Science.gov (United States)

    McCollister, Kathryn; Yang, Xuan; Sayed, Bisma; French, Michael T; Leff, Jared A; Schackman, Bruce R

    2017-10-01

    Estimating the economic consequences of substance use disorders (SUDs) is important for evaluating existing programs and new interventions. Policy makers in particular must weigh program effectiveness with scalability and sustainability considerations in deciding which programs to fund with limited resources. This study provides a comprehensive list of monetary conversion factors for a broad range of consequences, services, and outcomes, which can be used in economic evaluations of SUD interventions (primarily in the United States), including common co-occurring conditions such as HCV and HIV. Economic measures were selected from standardized clinical assessment instruments that are used in randomized clinical trials and other research studies (e.g., quasi-experimental community-based projects) to evaluate the impact of SUD interventions. National datasets were also reviewed for additional SUD-related consequences, services, and outcomes. Monetary conversion factors were identified through a comprehensive literature review of published articles as well as targeted searches of other sources such as government reports. Eight service/consequence/outcome domains were identified containing more than sixty monetizable measures of medical and behavioral health services, laboratory services, SUD treatment, social services, productivity outcomes, disability outcomes, criminal activity and criminal justice services, and infectious diseases consequences. Unit-specific monetary conversion factors are reported, along with upper and lower bound estimates, whenever possible. Having an updated and standardized source of monetary conversion factors will facilitate and improve future economic evaluations of interventions targeting SUDs and other risky behaviors. This exercise should be repeated periodically as new sources of data become available to maintain the timeliness, comprehensiveness, and quality of these estimates. Copyright © 2017 The Authors. Published by Elsevier Inc

  12. The need for monetary information within corporate water accounting.

    Science.gov (United States)

    Burritt, Roger L; Christ, Katherine L

    2017-10-01

    A conceptual discussion is provided about the need to add monetary data to water accounting initiatives and how best to achieve this if companies are to become aware of the water crisis and to take actions to improve water management. Analysis of current water accounting initiatives reveals the monetary business case for companies to improve water management is rarely considered, there being a focus on physical information about water use. Three possibilities emerge for mainstreaming the integration of monetization into water accounting: add-on to existing water accounting frameworks and tools, develop new tools which include physical and monetary information from the start, and develop environmental management accounting (EMA) into a water-specific application and set of tools. The paper appraises these three alternatives and concludes that development of EMA would be the best way forward. Suggestions for further research include the need to examine the use of a transdisciplinary method to address the complexities of water accounting. Copyright © 2017 Elsevier Ltd. All rights reserved.

  13. Incentives to Repurpose Existing Drugs for Orphan Indications.

    Science.gov (United States)

    Kwok, Annette K; Koenigbauer, Fabian M

    2015-08-13

    The Orphan Drug Act has been successful in providing incentives to find cures for orphan diseases. However, many orphan diseases are still without cure. Therefore, the 114th Congress has introduced the 21st Century Cures Act and the Orphan Product Extension Now Accelerating Cures and Treatment Act of 2015 to further provide incentives to innovators to repurpose existing drugs for treatment of these orphan diseases. However, these bills are currently pending and their incentives might not go far enough.

  14. Incentive Use in Research: Protecting Vulnerable Populations from Exploitation

    Directory of Open Access Journals (Sweden)

    Haruna Muwonge

    2013-06-01

    Full Text Available Global investment in Medical Research and Development has markedly increased in the last few decades. However, due to the decreasing public altruism, researchers have come under increased pressures from the funding bodies to produce results. Out of desperation, some researchers have resorted to using incentives as a means of sourcing for volunteers. Consequently, the research burden has disproportionately been shared among the most vulnerable populations in the society. Incentives especially monetary ones present an ethical dilemma because of the uncertainties’ surrounding the morality, amount and type of payment, vulnerability of volunteers and possible threats to voluntary participation. Several studies done on the use of incentives in medical research have noted that financial motivation was the number one reason for subjects to volunteer in Medical research. Mutual benefit and freedom of choice by participants were given as reasons to support their use. However, scientists who are against the use of incentives believe that they are coercive or undue inducements, and may influence a subjects’ ability to give an informed consent. Guidelines exist that protect vulnerable groups from exploitation, although none sheds light into the use of incentives. Nonetheless, in the face of the waning public altruism, the benefits of using incentives far outweigh the dangers, although researchers should avoid situations where their use may become problematic. As a mode of payment to research subjects, researchers should adopt a combination of the Dickerts’ Wage and re-imbursement models as guides in quantifying the incentive. [Archives Medical Review Journal 2013; 22(3.000: 408-417

  15. Fiscal aspects of European monetary integration

    DEFF Research Database (Denmark)

    Hallett, Andrew Hughes; Hutchison, Michael; Hougaard Jensen, Svend E.

    Monetary union in Europe started in 1999. The fiscal policy implications are, in many ways, more complex than the monetary issues. This book contains 11 papers and three review essays, which analyze a spectrum of empirical, theoretical, institutional and political aspects of the design and impact...... of fiscal policy in EMU. The contributors are experienced analysts in the field. Topics covered include the need for and consequences of fiscal co-ordination, constraints on national deficits and debt levels (the Stability Pact), and the role of fiscal federalism and insurance. The importance of co......-ordinating fiscal and monetary policies is also considered in depth. As long as these strategic and institutional aspects remain imperfectly understood, EMU will not be able to function to its full advantage and may suffer periods of instability or weakness. Contains 11 papers and three review essays, which analyze...

  16. Monetary Policy and Financial (InStability

    Directory of Open Access Journals (Sweden)

    Adam Koronowski

    2010-06-01

    Full Text Available This paper presents how monetary policy, restricted only by price stability, may easily become propitious to asset inflation and – eventually – to a financial crisis. This risk is particularly high when the financial system lacks proper regulation and effective supervision. Hasty liberalization, negligence of official oversight and „Greenspan doctrine” which refuted any activist policy promoting financial stability characterized Fed’s monetary policy under the former Fed’s governor. The paper also analyses another aspect of the linkages between monetary policy and financial crises – monetary policy reaction to financial crises. It is not surprising that it consists of cutting interest rates and bail-out of insolvent, systemically important financial institutions. Such policy, especially when run too long and changed too abruptly, not only creates moral hazards but it also sets the stage for another „search for yield” and build-up of another speculative bubble. As a result, monetary policy becomes asymmetric and pro-cyclical. Fed’s reaction to the recent crisis seems to be very much in line with this pattern typical of Fed’s policy in the past. However, this time the scale of flooding the economy with liquidity and – as a consequence – the risks of future major imbalances in the financial system are unprecedented. A general conclusion of the paper says that there can’t be a sound financial and economic system unless money itself is a scarce resource. However trivial this statement is, monetary policy of some central banks seems to miss the point.

  17. Amplification Effects and Unconventional Monetary Policies

    Directory of Open Access Journals (Sweden)

    Cécile BASTIDON GILLES

    2012-02-01

    Full Text Available Global financial crises trigger off amplification effects, which allow relatively small shocks to propagate through the whole financial system. For this reason, the range of Central banks policies is now widening beyond conventional monetary policies and lending of last resort. The aim of this paper is to establish a rule for this practice. The model is based on the formalization of funding conditions in various types of markets. We conduct a comprehensive analysis of the “unconventional monetary policies”, and especially quantify government bonds purchases by the Central bank.

  18. The importance and role of the Central Bank in the creation of a healthy monetary and investment policy

    Directory of Open Access Journals (Sweden)

    Šmigić-Miladinović Jasmina

    2016-01-01

    Full Text Available The paper's starting point is finding an answer to the question: What kind of monetary policy should be followed by the Central bank in new market circumstances? As a major monetary institution, the Central bank should provide credibility for its monetary policy, which is particularly important during a macroeconomic stabilisation. In order to choose the most appropriate monetary policy, its creators should be familiar with the monetary policy's effects on economic activities, first of all on investment activities and the period in which they may occur. The Central bank uses its special status and authorisations to control monetary trends, to keep and handle foreign exchange reserves, to keep banks' required reserves, to manage the country's debt, to be the final creditor of the banking system, to take care of the banking system's liquidity. That is why the Central bank has become important for the functioning of the whole financial market, and especially the monetary market. The Central bank has both direct and indirect influence on the most important events on financial markets, financial system, as well as a wider influence - on a country's whole economy. In order to envisage the financial market's impact on monetary and investment policies, one should begin with the Central bank's role on the financial market, and at the same time analyse the financial market's instruments and institutions.

  19. Differential dependence of Pavlovian incentive motivation and instrumental incentive learning processes on dopamine signaling

    Science.gov (United States)

    Wassum, Kate M.; Ostlund, Sean B.; Balleine, Bernard W.; Maidment, Nigel T.

    2011-01-01

    Here we attempted to clarify the role of dopamine signaling in reward seeking. In Experiment 1, we assessed the effects of the dopamine D1/D2 receptor antagonist flupenthixol (0.5 mg/kg i.p.) on Pavlovian incentive motivation and found that flupenthixol blocked the ability of a conditioned stimulus to enhance both goal approach and instrumental performance (Pavlovian-to-instrumental transfer). In Experiment 2 we assessed the effects of flupenthixol on reward palatability during post-training noncontingent re-exposure to the sucrose reward in either a control 3-h or novel 23-h food-deprived state. Flupenthixol, although effective in blocking the Pavlovian goal approach, was without effect on palatability or the increase in reward palatability induced by the upshift in motivational state. This noncontingent re-exposure provided an opportunity for instrumental incentive learning, the process by which rats encode the value of a reward for use in updating reward-seeking actions. Flupenthixol administered prior to the instrumental incentive learning opportunity did not affect the increase in subsequent off-drug reward-seeking actions induced by that experience. These data suggest that although dopamine signaling is necessary for Pavlovian incentive motivation, it is not necessary for changes in reward experience, or for the instrumental incentive learning process that translates this experience into the incentive value used to drive reward-seeking actions, and provide further evidence that Pavlovian and instrumental incentive learning processes are dissociable. PMID:21693635

  20. Financial Incentives for Adherence to Hepatitis C Virus Clinical Care and Treatment: A Randomized Trial of Two Strategies

    Science.gov (United States)

    Allmon, Andrew G.; Evon, Donna; Hurt, Christopher; Reifeis, Sarah Ailleen; Thirumurthy, Harsha; Straub, Becky; Edwards, Angela; Mollan, Katie R.

    2017-01-01

    Abstract Background. Although rates of sustained virologic response (SVR) after hepatitis C virus (HCV) treatment with direct-acting antivirals (DAAs) surpass 90% in trials and some more “real world” settings, some patients, such as those with substance use disorders, will be challenged to adhere to HCV care. Methods. To assess the feasibility of 2 strategies for financially incentivizing adherence to HCV care, patients with a substance use history prescribed 12 weeks of a sofosbuvir-containing regimen were randomized to either fixed or lottery-based monetary incentives for attending clinic appointments, pill count adherence >90%, and SVR achievement. Electronic medication monitoring provided an objective measure of DAA adherence. Results. Fifty-nine participants were randomized to the lottery (n = 31) or fixed-incentive (n = 28) arms. All 31 (100%) in the lottery arm and 24 of 28 (86%) in the fixed arm completed 12 weeks of therapy. By intent-to-treat, 93% in the lottery arm and 92% in the fixed arm achieved SVR (estimated difference: 0.5%; 95% confidence interval, −17.5 to 18.8). Overall, 92% of scheduled visits were attended without significant differences between arms. The mean adherence ratio (days with ≥1 bottle opening:monitored days) was 0.91 for lottery and 0.92 for fixed arms. Conclusions. In this pilot, fixed- and lottery-based financial incentives were successfully implemented and accepted by patients with a substance use history. High levels of HCV therapy and care adherence, as well as rates of SVR, were observed. Financial incentives may be useful to support treatment adherence in patients with substance use disorders and should be tested in a larger, randomized, controlled trial. PMID:28695144

  1. When and why do university managers use publication incentive payments?

    DEFF Research Database (Denmark)

    Opstrup, Niels

    2017-01-01

    Pay-for-performance schemes have become a widespread management strategy in the public sector. However, not much is known about the rationales that trigger the adoption of performance-related pay provisions. This article examines managerial and organisational features of university departments in......’ and ‘non-believers’. Almost half expressed confidence in that publication incentive payments motivate researchers to perform better, not because of the monetary reward, but because of the positive feedback signalled by the pay supplement...... in Denmark that use publication incentive payments. Most often it is used when heads of department outside the humanities think it is a good idea to reward scholars financially for publications. In-depth analysis of the cases reveals, however, that department heads cannot only be divided between ‘believers...

  2. Cost incentives for doctors

    DEFF Research Database (Denmark)

    Schottmüller, Christoph

    2013-01-01

    If doctors take the costs of treatment into account when prescribing medication, their objectives differ from their patients' objectives because the patients are insured. This misalignment of interests hampers communication between patient and doctor. Giving cost incentives to doctors increases...... welfare if (i) the doctor's examination technology is sufficiently good or (ii) (marginal) costs of treatment are high enough. If the planner can costlessly choose the extent to which doctors take costs into account, he will opt for less than 100%. Optimal health care systems should implement different...... degrees of cost incentives depending on type of disease and/or doctor....

  3. Monetary relationship in gamete donation - the ethical view

    Directory of Open Access Journals (Sweden)

    Fatemeh Shidfar

    2006-03-01

    Full Text Available During the last decades, gamete donation has been known as an assisted reproductive treatment for infertile couples. This method has raised many ethical issues; one of the dilemmas is the payment between the donor and recipient. In this article we discuss the payment issues in gamete donation. For compiling this article, we searched keywords of "gamete donation, monetary relationship and ethics" in Pubmed and Ovid. "nAfter reviewing the history of gamete donation, the risks and benefits of gamete donation, the motivations of donation and the financial incentives were reviewed. Then the ethical debates were discussed; the possibility of undue inducements, coercion and exploitation, the quality of informed consent, commodification of donation, compensating the risks and troubles, the results of not paying the donors and other ethical aspects were also explained."nPayment is one of the inevitable problems in gamete donation. Considering the scarce supply of gametes compared to its demand, the current policies of gamete donation without any payment leads to increasing numbers of infertile couples and also the longer waiting times for treatment. Moreover, the essential and immediate needs of couples for gamete leads to significant expenditures in illegal outlines. It is necessary to compile an arranged schedule to organize the financial relationship between the donor and recipient in a legal outline.

  4. Fiscal Deficits, Monetary Reform and Inflation Stabilization in Romania.

    NARCIS (Netherlands)

    van Wijnbergen, S.J.G.; Budina, N.

    2001-01-01

    Investigates the consistency between inflation, monetary reform and fiscal policy in Romania. Offers a framework for the assessment of the fiscal and monetary interactions of Romanian economy; Shows impact of inflation on fiscal inconsistency measure; Considers importance of consolidating public

  5. Japanese human resource management from the viewpoint of incentive theory

    OpenAIRE

    Itoh, Hideshi

    1991-01-01

    This essay concerns the management of human resources in the stylized large Japanese firm. The emphasis is on issues of internal incentives, how the Japanese firm provides its employees with incentives to behave in harmony with goals of the firm. By drawing freely the insights from the growing literature on the economics of organizations (incentive theory), I attempt to explain economic rationale of some of the distinct features of Japanese management practices concerning pay and promotion sy...

  6. Incentive Funding Meets Incentive-Based Budgeting: Can They Coexist?

    Science.gov (United States)

    Lang, Daniel W.

    2016-01-01

    Two major developments in the financial management of higher education have occurred more or less contemporaneously: incentive or performance funding on the part of government and incentive-based budgeting on the part of institutions. Both are based on fiscal incentives. Despite their several inherent and interconnected similarities, incentive…

  7. Monetary valuation in Life Cycle Assessment

    DEFF Research Database (Denmark)

    Pizzol, Massimo; Weidema, Bo Pedersen; Brandão, Miguel

    2015-01-01

    different impacts and/or with other economic costs and benefits. For this reason, monetary valuation has a great potential to be applied also in Life Cycle Assessment (LCA), especially in the weighting phase. However, several challenges limit its diffusion in the field, which resulted in only a few...

  8. Resolving the International Monetary Fund's Legitimacy Crisis

    DEFF Research Database (Denmark)

    Seabrooke, Leonard

    2006-01-01

    Since the Asian financial crisis of 1997-1998 the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund's voting system is unfair, and that the Fund enforces homogenous policies onto...

  9. Monetary policy cooperation may not be counterproductive

    DEFF Research Database (Denmark)

    Jensen, Henrik

    1997-01-01

    This paper qualifies Rogoff's famous (1985) result that international monetary policy cooperation is counterproductive. In a model similar to his, it is shown that if wage-setters are non-atomistic and inflation averse - as policymakers are - cooperation leads to higher employment and possibly lo...

  10. Monetary policy, banking and heterogeneous agents

    NARCIS (Netherlands)

    Wolski, M.

    2012-01-01

    The influence of heterogeneous expectations on monetary policy performance has gained a lot of attention in the recent years. It proved to be an important factor that, under some circumstances, may even destabilize the economy (Massaro, 2012). This paper investigates the phenomenon of heterogeneous

  11. Monetary and Exchange Rate Policy in Slovenia

    OpenAIRE

    Gonzalo Caprirolo; Vladimir Lavrac

    2003-01-01

    The paper is divided in three sections presenting some stylized facts concerning monetary and exchange rate policy framework in Slovenia. Three periods are covered: Money-based Stabilization Policy (1991-1995), Price and Real Exchange Rate Stability Dual Targeting Policy (1996-2001), and Exchange Rate Based Stabilization Policy and Accession to ERM2 (2001-).

  12. The Economic and Monetary Union's Institutional Framework

    DEFF Research Database (Denmark)

    Dosenrode, Søren

    2002-01-01

    The chapters emphasise is on the EMU's institutions. The chapter contains i.a. a short review of the contents, objectives, developments from 1990-2002 of the EMU, the ESCB (structure & tasks) as well as interaction with other institutions incuding the Council of Ministers. An underlying issue is ...... is the coordination of the Union's economic and monetary policies....

  13. Two cheers for the Monetary Control Act

    OpenAIRE

    Katy Jacob; Daniel A. Littman; Richard D. Porter; Wade Rousse

    2010-01-01

    This article explains how the Monetary Control Act (MCA) of 1980 paved the way for the transition away from paper to electronic check clearing and processing, ultimately leading to the successful implementation of the Check Clearing for the 21st Century Act (Check 21) in 2003.

  14. Monetary Policy and Nigeria's Economic Development | Akujuobi ...

    African Journals Online (AJOL)

    This study investigated the impact of monetary policy instruments on theeconomic development of Nigeria, using multiple regression technique. Itwas found that cash reserve ratio was significant in impacting on theeconomic development of Nigeria at both 1% and 5% levels of significance,treasury bill at 5.6%, minimum ...

  15. Monetary Integration in the 1960s

    Directory of Open Access Journals (Sweden)

    Miriam Jankalová

    2017-06-01

    Full Text Available Initiatives dealing with the creation of the European Monetary System and the zone of monetary stability in Europe emerged in the 18th century, despite the fact that greater manifestations of these considerations and efforts only started in the 1960s and early 1970s. The proof is the Marjolin Memorandum of 24 October 1962 and the Barre Plan, presented in The Hague in February 1969. In October 1970, the Commission’s initiative was followed by preparation of a plan for the progressive establishment of the Economic and Monetary Union, known as the Werner Report. Fundamentally different political views and approaches in the field of economics and integration, crisis phenomena in the Member States of the European Economic Community prevented the coordination of economic and monetary policy and the expected introduction of a common system of exchange rates. Other factors that contributed to that state were the currency crisis (1971–1973 and the oil crisis (1973–1974, as well as conflicts of interest between the French and German sides.

  16. Disintegration of monetary system of medieval Serbia

    Directory of Open Access Journals (Sweden)

    Gnjatović Dragana

    2014-01-01

    Full Text Available The subject matter of this paper is the process of gradual disintegration of monetary system of medieval Serbia during the second half of the 14th and the first half of the 15th century. This period is characterized by an appearance of frequent usurpations of the ruling right to mint coinage by local landlords and the attempts of the rulers from Lazarević and Branković families to restore unified monetary system. Common debasements and restorations of silver coinage provoked economic instability and induced frequent turning backwards to the custom of using weighted silver instead of silver coins as commodity monetary standard. The aim of this paper is to explain the reasons for those phenomena. We apply qualitative, historical, empirical analysis where we consider money minting right holders and their decisions to debase and restore the value of silver dinars. We found that gradual disintegration of monetary system of medieval Serbian State continued until the fall of Serbian Despotate as a consequence of political instability following dissolution of medieval Serbian Empire and economic and financial exhaustion of Serbia by Ottoman suzerains.

  17. Monetary Policy Frameworks and Real Equilibrium Determinacy

    DEFF Research Database (Denmark)

    Jensen, Henrik

    2002-01-01

    In a simple "prototype" model of monetary policymaking, I examine the issue of real equilibrium determinacy under targeting and instrument rules. The former framework involves minimization of a loss function (under discretion or commitment), whereas the latter involves commitment to an interest...

  18. MONETARY POLICY AND ECONOMIC DEVELOPMENT: LESSONS ...

    African Journals Online (AJOL)

    are mainly transmitted through the banking system, any policy that lacks the necessary ingredients that affect ... monetary policy on economic development of Nigeria between the pre-deregulated and post-deregulated ... macroeconomic variables such as domestic prices, employment, balance of payment equilibrium and ...

  19. Interactions between incentive valence and action information in a cued approach-avoidance task.

    Science.gov (United States)

    Hoofs, Vincent; Carsten, Thomas; Boehler, C Nico; Krebs, Ruth M

    2018-01-10

    Environmental stimuli can provoke specific response tendencies depending on their incentive valence. While some studies report positive-approach and negative-avoidance biases, others find no such mappings. To further illuminate the relationship between incentive valence and action requirement, we combined a cued monetary incentive paradigm with an approach/avoidance joystick task. Incentive type was manipulated between groups: The reward group won money, while the punishment group avoided losing money for correct and fast responses to targets following incentive cues. Depending on their orientations, targets had to be 'approached' or 'avoided'. Importantly, incentive valence (signaled by cue color) was orthogonal to action requirement (target orientation). Moreover, targets could carry valence-associated information or not (target color), which was, however, task-irrelevant. First, we observed that both valence cues (reward/punishment) improved performance compared to neutral cues, independent of the required action (approach/avoid), suggesting that advance valence cues do not necessarily produce specific action biases. Second, task-irrelevant valence associations with targets promoted action biases, with valence-associated targets facilitating approach and impairing avoid responses. Importantly, this approach bias for valence-associated targets was observed in both groups and hence occurred independently of absolute valence ('unsigned'). This rather unexpected finding might be related to the absence of a direct contrast between positive valence and negative valence within groups and the common goal to respond fast and accurately in all incentive trials. Together, our results seem to challenge the notion that monetary incentives trigger 'hard-wired' valence-action biases in that specific design choices seem to modulate the presence and/or direction of valence-action biases.

  20. Monetary System and Macroeconomic Policy in Greece, 1833-2003

    OpenAIRE

    Sofia Lazaretou

    2004-01-01

    Currency is one of the most important of social and economic institutions. Evidently, the interrelation between monetary and economic power and stability is reciprocal. A strong and stable economy facilitates the achievement and maintenance of monetary stability; conversely, monetary stability contributes to the smooth operation of markets and transactions, and promotes savings, investment and economic growth. This paper describes the evolution of the Greek monetary system. Both international...

  1. Incentives to promote breastfeeding: a systematic review.

    Science.gov (United States)

    Moran, Victoria Hall; Morgan, Heather; Rothnie, Kieran; MacLennan, Graeme; Stewart, Fiona; Thomson, Gillian; Crossland, Nicola; Tappin, David; Campbell, Marion; Hoddinott, Pat

    2015-03-01

    Few women in industrialized countries achieve the World Health Organization's recommendation to breastfeed exclusively for 6 months. Governments are increasingly seeking new interventions to address this problem, including the use of incentives. The goal of this study was to assess the evidence regarding the effectiveness of incentive interventions, delivered within or outside of health care settings, to individuals and/or their families seeking to increase and sustain breastfeeding in the first 6 months after birth. Searches of electronic databases, reference lists, and grey literature were conducted to identify relevant reports of published, unpublished, and ongoing studies. All study designs published in English, which met our definition of incentives and that were from a developed country, were eligible for inclusion. Abstract and full-text article review with sequential data extraction were conducted by 2 independent authors. Sixteen full reports were included in the review. The majority evaluated multicomponent interventions of varying frequency, intensity, and duration. Incentives involved providing access to breast pumps, gifts, vouchers, money, food packages, and help with household tasks, but little consensus in findings was revealed. The lack of high-quality, randomized controlled trials identified by this review and the multicomponent nature of the interventions prohibited meta-analysis. This review found that the overall effect of providing incentives for breastfeeding compared with no incentives is unclear due to study heterogeneity and the variation in study quality. Further evidence on breastfeeding incentives offered to women is required to understand the possible effects of these interventions. Copyright © 2015 by the American Academy of Pediatrics.

  2. The optimality of a monetary union without a fiscal union

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    2001-01-01

    The paper explores the case for monetary and fiscal unification. Monetary policy suffers from an inflation bias because the monetary authorities are not able to commit. With international risk-sharing, fiscal discipline suffers from moral hazard. An inflation target alleviates the inflation bias but

  3. 32 CFR 269.3 - Civil monetary penalty inflation adjustment.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 2 2010-07-01 2010-07-01 false Civil monetary penalty inflation adjustment. 269... DEFENSE (CONTINUED) MISCELLANEOUS CIVIL MONETARY PENALTY INFLATION ADJUSTMENT § 269.3 Civil monetary penalty inflation adjustment. The Department shall, not later than 180 days after the enactment of the...

  4. The Relative Importance of the Channels of Monetary Policy ...

    African Journals Online (AJOL)

    monetary policy frameworks such as Monetary Aggregate Targeting (MAT) to Inflation Targeting ... is the weakening relationship between monetary aggregates and inflation, a key ingredient of MAT. For an IT framework .... USA, studies have found that the interest rate, credit and asset price channels are working (Bernanke.

  5. Monetary and Fiscal Policy Interactions and Limitations: The Need ...

    African Journals Online (AJOL)

    This 'divorce' of monetary and debt management functions calls for the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. Therefore an appropriate combination of monetary and fiscal policy mix is crucial for macroeconomic ...

  6. Respect as an Incentive

    DEFF Research Database (Denmark)

    Eriksson, Tor Viking; Villeval, Marie-Claire

    whether employers’ decisions to give symbolic rewards are driven by strategic considerations. We find that employers do make use of symbolic rewards and chiefly to express their satisfaction with the employee. Symbolic rewards are associated with higher profits and increased probability of continuing......In this paper we examine respect as a non-monetary source of motivation. Our experiment sheds light on the extent to which symbolic rewards are used, how they are valued by the employees, and how they affect employee effort, the duration of relationships, and profits of employers. We also study...

  7. Water Conservation and Economic Incentives

    Science.gov (United States)

    Narayanan, M.

    2016-12-01

    Water has played a vital role in the progress of human civilization throughout history. Both agriculture based economics as well as industry based economics totally rely upon water for survival and prosperity. Water could be a limiting factor in dictating day-to-day human activities and as such one should learn to live within the limits of available natural resources. Most of the water on this earth is either salty or undrinkable. Only one percent of world's water is available for all the needs of human civilization. This includes human personal household needs, community activities, agriculture, industry, plant and animal life sustenance. The supply of usable fresh water is finite and the per capita consumption of fresh water needs to be reduced in particularly in some selected regions of this world. The United States consumes about 450 billion gallons of water every day. The U.S. daily average of water pumped by public water supply systems is 185 gallons per person. The biggest water gobbler in a household is the lawn. Typically, at least 50% of water consumed by households is used outdoors. Even inside a house, bathroom facilities claim nearly 75% of the water used. Here is a short list of economic Incentives that may help water conservation. (1) Providing rebates, refunds or other economic incentives to those consumers that are willing to change to modern technological methods. Examples include, but not limited to energy efficient washing machines, low-flush toilets and improved shower head designs. (2) Communities should provide economic incentives to limit the type and size of landscaping. (3) Need, necessity and nature of outdoor water use could be restricted whenever possible. (4) Sprinkler ban may be deemed appropriate in extreme cases. (5) Set up hotlines that can help penalize those that ignore water conservation guidelines. (6) Incorporating water conservation monitors. References: http://www.nrdc.org/water/http://www.ecy.wa.gov/programs/wr/ws/wtrcnsv.htmlhttp://www.sscwd.org/tips.html

  8. Incentives to participate in clinical trials: practical and ethical considerations.

    Science.gov (United States)

    Bernstein, Steven L; Feldman, James

    2015-09-01

    Clinical trials often offer incentives to encourage individuals to enroll and to enhance follow-up. The scope and nature of incentives used in emergency department (ED)-based trials are unknown. The objective of this study is to characterize the quantity and quality of incentives and other forms of compensation used in clinical trials of human subjects recruited in US EDs. A secondary goal is to provide an historical and ethical analysis of the use of incentives in clinical trials. We reviewed English-language randomized clinical trials conducted in US EDs from 2009 to 2013. Full text of the studies was reviewed to identify whether incentives were used, their value, and timing. Funding source was noted as well. Data are presented with descriptive statistics. Of 1151 articles identified, 76 (6.6%) fit criteria for review. Of these, 7 (9.2%) provided incentive payments. A recently published eighth trial was included as well. The total cash value of incentives offered ranged from $10 to $195. Four studies offered payment at enrollment only. Incentives included cash, debit cards, and gift cards. The use of financial incentives in ED-based trials is uncommon. Studies that use incentives are generally extramurally funded, usually by a federal agency, and include waves of follow-up that continue after discharge from the ED. Payment size is modest. Incentives may improve recruitment and retention in ED-based trials, but authoritative data are lacking. Investigators need to take care to avoid incentives that may be coercive or unduly influence research participants. Copyright © 2015 Elsevier Inc. All rights reserved.

  9. Incentive Issues in Information Security Management

    Science.gov (United States)

    Lee, Chul Ho

    2012-01-01

    This dissertation studies three incentive issues in information security management. The first essay studies contract issues between a firm that outsources security functions and a managed security service provider (MSSP) that provides security functions to the firm. Since MSSP and firms cannot observe each other's actions, both can suffer…

  10. Expectations, foreign exchange forwards and reflections on monetary policy

    Directory of Open Access Journals (Sweden)

    A. FERRO

    2014-03-01

    Full Text Available The paper provides preliminary analysis on the relationships that can be established between the rates of the forward exchange rate and the spot exchange rates at the various expectations hypothesis. The authors go on to highlight the implications of monetary policy that the various kinds of expectations entail. To test specifically the role of expectations in the determination of exchange rates at the end we will proceed through a couple of simple empirical tests that refer to the spot and forward prices of the Deutsche Mark against the pound on the Frankfurt market in the first four months of 1976.

  11. Politiche monetarie e movimenti economici: il problema della convergenza. ( Are monetary policies and performances converging?

    Directory of Open Access Journals (Sweden)

    N. THYGESEN

    2013-12-01

    Full Text Available Questo documento è stato presentato in occasione del quarto Seminario Internazionale sui diritti economici e monetaria dell'Unione Europea, tenutosi a Copenaghen nel marzo del 1981. L'opera fornisce una valutazione provvisoria dello SME in termini dei principali temi interni ed esterni che sono emersi dalle discussioni nel 1978. viene quindi fornito un commento alle principali critiche formulate dagli economisti di orientamento monetarista. Infine, gli obiettivi e le prestazioni nel 1979-80 nei singoli paesi criteri vengono intervistate.This paper was presented at the Fourth International Seminar on European Economic and Monetary Union, held in Copenhagen in March of 1981. The work provides a tentative assessment of the EMS in terms of the main internal and external motives which emerged from the discussions in 1978. Commentary on the main criticisms made by economists of a monetarist orientation is then provided. Finally, policy objectives and performance in 1979-80 in the individual countries are surveyed.JEL: E42, E52, F36

  12. Improving the cost effectiveness of financial incentives in managing travel demand management (TDM).

    Science.gov (United States)

    2013-10-01

    Providing financial incentives to commuters to use alternative modes is a common element of managing transportation demand. Although these incentives have become common during the past two decades as elements of transportation demand management (TDM)...

  13. Psychology, economics and incentives.

    OpenAIRE

    Biel, P. R.

    2005-01-01

    This PhD. Thesis deals with the effects that psychological phenomena may have on the incentives of agents participating in economic interaction. In particular, I focus on how individuals' preference for certain distributions of welfare among others may affect their effort and other strategic decisions in a variety of contexts. The thesis consists of five chapters. The first one introduces the study. The next two chapters are theoretical and study the effects that aversion to inequity may have...

  14. Incentives and Prosocial Behavior

    OpenAIRE

    Bénabou, Roland; Tirole, Jean

    2003-01-01

    We develop a theory of prosocial behavior that combines heterogeneity in individual altruism and greed with concerns for social reputation or self-respect. Rewards or punishments (whether material or image-related) create doubt about the true motive for which good deeds are performed, and this ?overjustification effect? can induce a partial or even net crowding out of prosocial behavior by extrinsic incentives. We also identify the settings that are conducive to multiple social norms and, mor...

  15. Monetary Expansion and the Banking Lending Channel.

    Science.gov (United States)

    Tabak, Benjamin Miranda; Moreira, Tito Belchior Silva; Fazio, Dimas Mateus; Cavalcanti, André Luiz Cordeiro; Cunha, George Henrrique de Moura

    2016-01-01

    This paper examines the bank lending channel, which considers how monetary authority actions affect the variation of loans. We focus on the BRICS (Brazil, Russia, India, China and South Africa) totalizing 1254 banks from five countries in the period 2000-2012 (totalizing 13 years). The empirical results show that the effect of money supply growth on the growth of loans is non-linear and inverted U-shaped. In this context, our results show empirical evidence expansionary monetary policies do not increase the propensity of economic agents to systematically take greater risks on the market. After a certain level of money stock, increases in the money supply do not lead to increased negotiated credit.

  16. Is Romania Integrating in a Monetary Heaven?

    Directory of Open Access Journals (Sweden)

    Mircea Perpelea

    2013-11-01

    Full Text Available Obviously, the monetary integration aims at some competitive advantages being obtained. Highlighting them, in opposition with the inherent disadvantages, consisted in the subject of our research. Our belief is that, at least until now, no scenarios have been imagined to present us how the economy would have evolved, if Romania had adopted the unique currency before the global crisis started in the last decade’s final years.

  17. Does monetary policy generate asset price bubbles ?

    OpenAIRE

    Blot, Christophe; Hubert, Paul; Labondance, Fabien

    2017-01-01

    This paper empirically assesses the effect of monetary policy on asset price bubbles and aims to disentangle the competing predictions of theoretical bubble models. First, we take advantage of the model averaging feature of Principal Component Analysis to estimate bubble indicators, for the stock, bond and housing markets in the United States and Euro area, based on the structural, econometric and statistical approaches proposed in the literature to measure bubbles. Second, we ...

  18. Unconventional Monetary Policy and bank supervision

    OpenAIRE

    Gieck, Jana; Traczyk, Adam

    2013-01-01

    This paper studies the impact of unconventional monetary policy on the economy and its interactions with bank supervisory rules. In particular, we look at the impact of liquidity injections (quantitative easing) and repurchases of impaired loans (qualitative easing) under increased capital requirements for banks. We show that quantitative easing is most effective in terms of reducing losses in GDP and consumption which occur after a financial shock but leads to high fluctuation...

  19. Simulation of Enlisted Sailor Assignment Process to Explore the Cost of Non-Monetary Incentives

    Science.gov (United States)

    2010-03-01

    and Reports, 1215 Jefferson Davis Highway, Suite 1204, Arlington, VA 22202-4302, and to the Office of Management and Budget, Paperwork Reduction...Academy Hamburg, 1996 Submitted in partial fulfillment of the requirements for the degree of MASTER OF SCIENCE IN MANAGEMENT from the...offer get checked. If the window of NMI use is over, the NMI indicator in the sailor file is reset. %aging sailor comunity by one month [k,l]=size

  20. Punitive preferences, monetary incentives and tacit coordination in the punishment of defectors promote cooperation in humans

    NARCIS (Netherlands)

    Diekmann, Andreas; Przepiorka, Wojtek|info:eu-repo/dai/nl/413317617

    2015-01-01

    Peer-punishment is effective in promoting cooperation, but the costs associated with punishing defectors often exceed the benefits for the group. It has been argued that centralized punishment institutions can overcome the detrimental effects of peer-punishment. However, this argument presupposes

  1. Incentive and insurance effects of income taxation

    DEFF Research Database (Denmark)

    Andersen, Torben M.

    2015-01-01

    Tax distortions cause a trade-off between efficiency and equity. However, taxes not only affect incentives; they also provide implicit insurance, and this may critically affect the efficiency–equity relationship. For a standard labour supply problem it is shown that the insurance effect mutes...... the sensitivity of labour supply to taxes, which tends to reduce tax distortions and lower the marginal costs of public funds. The relation between incentives and insurance and thus efficiency and equity is flattened by the insurance effect and it may even be non-monotone. However, the optimal utilitarian policy...... implies that there is always a trade-off between efficiency and equity on the margin....

  2. HETEROGENEOUS BANK LENDING RESPONSES TO MONETARY POLICY: EMPIRICAL EVIDENCE FROM RUSSIA

    Directory of Open Access Journals (Sweden)

    Zlata Kovtun

    2017-06-01

    Full Text Available The monetary policy affects the regional economy through interest rates and its main parameter the Bank of Russia key rate. But do all the banks in the regions respond uniformly to monetary policy changes? The effects of monetary policy actions can vary across the regions within an economic entity, depending on the regional industrial output, the financial structure, household incomes, lending activity, etc. The analysis of the article aims to determine the monetary policy instruments that influence the development or degradation of the regional banking sector in Russia. This helps to identify the heterogeneous commercial bank responses to changes in conducted monetary policy. In order to assess the effects of macroeconomic shocks and instruments of banking supervision on lending activity, the Ordinary Least Squares estimator and Generalized Least Squares technique were applied. The Taylor rule was used to calculate the desired level of interest rate for the each region and, then, to compare the results with the Central Bank interest rate. The empirical results, described in the context of the regional analysis, demonstrate that Central Bank’s interest rate does not affect the lending activity in most of the regions. Finally, the author summarizes conclusions one can draw from the results and provides recommendations for economic policy makers, based on the results of empirical analysis.

  3. 78 FR 21116 - Superior Supplier Incentive Program

    Science.gov (United States)

    2013-04-09

    ... following CPARS areas: Technical (Quality of Product). Schedule. Cost Control. Management Responsiveness. Management of Key Personnel. Utilization of Small Business. Other CPARS Factors As Appropriate. During the... performance incentives will provide contractors with the greatest motivation to achieve SSS? 3. What contract...

  4. Career concerns incentives: An experimental test

    DEFF Research Database (Denmark)

    Koch, Alexander; Morgenstern, Albrecht; Raab, Philippe

    the information that individuals base their decisions on. Our laboratory experiment provides prima facie evidence: i) the signal jamming mechanism successfully creates incentives on the labor supply side; ii) decision errors take time to decrease; iii) while subjects' average beliefs are remarkably consistent...

  5. 75 FR 30007 - Teacher Incentive Fund

    Science.gov (United States)

    2010-05-28

    ... FY 2010 (NIA) for the Teacher Incentive Fund. This notice makes a correction to the May 21 NIA. FOR...: Correction On page 28745 of the May 21 NIA, we requested that applicants submit a short e-mail as a notice of... applicant intends to address.'' We are correcting the May 21 NIA to provide applicants with the correct...

  6. Economic Incentives for Stormwater Control (ISBN9781439845608)

    Science.gov (United States)

    Addressing a huge knowledge gap from a policy perspective, this book focuses on the economic tools available for stormwater runoff control. It provides case studies demonstrating the application of various incentives, such as tradable credits, fees with rebates, and auction mecha...

  7. Incentive contracts for development projects

    Science.gov (United States)

    Finley, David T.; Smith, Byron; DeGroff, B.

    2012-09-01

    Finding a contract vehicle that balances the concerns of the customer and the contractor in a development project can be difficult. The customer wants a low price and an early delivery, with as few surprises as possible as the project progresses. The contractor wants sufficient cost and schedule to cover risk. Both want to clearly define what each party will provide. Many program offices do not want to award cost plus contracts because their funding sources will not allow it, their boards do not want an open ended commitment, and they feel like they lose financial control of the project. A fixed price incentive contract, with a mutually agreed upon target cost, provides the owner with visibility into the project and input into the execution of the project, encourages both parties to save costs, and stimulates a collaborative atmosphere by aligning the respective interests of customers and contractors.

  8. Gender differences in reward and punishment for monetary and social feedback in children: An ERP study.

    Science.gov (United States)

    Ding, Ying; Wang, Encong; Zou, Yuchen; Song, Yan; Xiao, Xue; Huang, Wanyi; Li, Yanfang

    2017-01-01

    Gender differences in feedback processing have been observed among adolescents and adults through event-related potentials. However, information on whether and how this feedback processing is affected by feedback valence, feedback type, and individual sensitivity in reward/punishment among children remains minimal. In this study, we used a guessing game task coupled with electroencephalography to investigate gender differences in feedback processing, in which feedback to reward and punishment was presented in the context of monetary and social conditions. Results showed that boys were less likely to switch their response after punishment, had generally less feedback-related negativity (FRN) amplitude, and longer FRN latency in monetary and punishment conditions than girls. Moreover, FRN for monetary punishment, which is related to individual difference in reward sensitivity, was observed only in girls. The study provides gender-specific evidence for the neural processing of feedback, which may offer educational guidance for appropriate feedback for girls and boys.

  9. Gender differences in reward and punishment for monetary and social feedback in children: An ERP study.

    Directory of Open Access Journals (Sweden)

    Ying Ding

    Full Text Available Gender differences in feedback processing have been observed among adolescents and adults through event-related potentials. However, information on whether and how this feedback processing is affected by feedback valence, feedback type, and individual sensitivity in reward/punishment among children remains minimal. In this study, we used a guessing game task coupled with electroencephalography to investigate gender differences in feedback processing, in which feedback to reward and punishment was presented in the context of monetary and social conditions. Results showed that boys were less likely to switch their response after punishment, had generally less feedback-related negativity (FRN amplitude, and longer FRN latency in monetary and punishment conditions than girls. Moreover, FRN for monetary punishment, which is related to individual difference in reward sensitivity, was observed only in girls. The study provides gender-specific evidence for the neural processing of feedback, which may offer educational guidance for appropriate feedback for girls and boys.

  10. Benefici, problemi e prospettive dell’integrazione monetaria in Europa (Benefits, issues and future of monetary integration in Europe

    Directory of Open Access Journals (Sweden)

    Carlo Panico

    2015-10-01

    Full Text Available This article discusses European monetary integration, recalling the benefits and the costs of the euro for the Member States. It reviews the policies adopted in the wake of the financial crisis and discusses the associated challenges. An outlook on the possible long-term design of monetary policy is provided, mainly in terms of EU coordination processes.  JEL codes: E42, E44, G01

  11. Offering Incentives from the Outside

    DEFF Research Database (Denmark)

    Emmanuel, Nikolas G.

    2017-01-01

    Incentives offer a good deal of underexplored opportunities to help manage conflict by encouraging political bargaining. This study has two primary objectives. First, it furthers the discussion of how external third parties can help manage conflicts. Second, it offers a typology of the available...... incentive strategies, classifying them along noncoercive and coercive lines. Thus, the article outlines the possibilities offered by an incentives approach, focusing on examples drawn from recent African cases....

  12. The optimal monetary rule for the Slovak republic

    Directory of Open Access Journals (Sweden)

    Neupauerová Marianna

    2006-01-01

    Full Text Available The optimal monetary rules should help to economic agents to fortify their anticipation about monetary policy. At the same time they should make application of monetary policy by central bank more effective. Consequently numerous central banks as well as other economic agents try to determinate an optimal monetary rule responding to given macroeconomic conditions. However this can be very difficult especially for transition economies or post-transition countries. This is the case of the Slovak Republic; its time series are relatively short and macroeconomic environment has to face different shocks. Thus, a monetary rule should be just some kind of recommendation for monetary authority that does not have to be followed as a binding commitment.

  13. Lines of monetary transmission optimization under conditions of transition economy

    OpenAIRE

    Lepushynskyy, Volodymyr

    2008-01-01

    An essential condition of the effectiveness of price-stability-based monetary regime is availability of an efficient mechanism for transmission of monetary policy impulses to the real sector of economy. Characteristic of the economy of Ukraine, the same as many other transition economies is the existence of institutional and structural factors that reduce the effectiveness of monetary transmission mechanism. This paper discusses the above mentioned factors and measures aimed to st...

  14. Bilateral Trade and Business Cycles Synchronization: African Monetary Integration Perspective

    OpenAIRE

    Tapsoba Jules-Armand

    2007-01-01

    The European Commission (1990) and Frankel and Rose (1997, 1998) pointed out that the traditional paradigm of Optimum Currency Areas is misleading because some consequences of monetary unions bring country-specific shocks closer together. Trade, for example, is not only a result of monetary union but it also increases business cycles synchronization. We test for the 53 African countries over the 1975-2004 period the hypothesis suggesting that monetary integration adds force to bilateral trade...

  15. Modelling of volatility in monetary transmission mechanism

    Energy Technology Data Exchange (ETDEWEB)

    Dobešová, Anna; Klepáč, Václav; Kolman, Pavel [Department of Statistics and Operation Analysis, Faculty of Business and Economics, Mendel University in Brno, Zemědělská 1, 61300, Brno (Czech Republic); Bednářová, Petra [Institute of Technology and Business, Okružní 517/10, 370 01, České Budějovice (Czech Republic)

    2015-03-10

    The aim of this paper is to compare different approaches to modeling of volatility in monetary transmission mechanism. For this purpose we built time-varying parameter VAR (TVP-VAR) model with stochastic volatility and VAR-DCC-GARCH model with conditional variance. The data from three European countries are included in the analysis: the Czech Republic, Germany and Slovakia. Results show that VAR-DCC-GARCH system captures higher volatility of observed variables but main trends and detected breaks are generally identical in both approaches.

  16. Optimal Degrees of Transparency in Monetary Policymaking

    DEFF Research Database (Denmark)

    Jensen, Henrik

    2002-01-01

    According to most academics and policymakers, transparency in monetary policymaking is desirable. I examine this proposition in a small theoretical model emphasizing forward-looking private sector behavior. Transparency makes it easier for price setters to infer the central bank's future policy...... intentions, thereby making current inflation more responsive to policy actions. This induces the central bank to pay more attention to inflation rather than output gap stabilization. Then, transparency may be disadvantageous. It may actually be a policy-distorting straitjacket if the central bank enjoys low...

  17. Emotions and scope effects in the monetary valuation of health.

    Science.gov (United States)

    Avilés Blanco, María V; Brey, Raúl; Araña, Jorge; Pinto Prades, José Luis

    2017-03-24

    This study presents evidence on the role of emotions in the monetary evaluation of health technologies, namely, drug-eluting stents (DES) in our case. It is shown that subjects who are very afraid of having to undergo an angioplasty are: (a) less sensitive to the size of the risk reduction provided by DES and (b) willing to pay more. The lack of scope sensitivity questions the normative validity of the responses of highly emotional subjects. We provide evidence of this effect using what we call the cognitive-emotional random utility model and the responses of a face-to-face, computer-assisted personal interview survey conducted in a representative sample of the Spanish general population (n = 1663).

  18. Separating Real Incentives and Accountability

    NARCIS (Netherlands)

    F.M. Vieider (Ferdinand)

    2008-01-01

    textabstractIn experimental investigations of the effect of real incentives, accountability—the implicit or explicit expectation of a decision maker that she may have to justify her decisions in front of somebody else—is often confounded with the incentives themselves. This confounding of

  19. Financial Incentives to Enable Clean Energy Deployment: Policy Overview and Good Practices

    Energy Technology Data Exchange (ETDEWEB)

    Cox, Sadie [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-02-24

    Financial incentives have been widely implemented by governments around the world to support scaled up deployment of renewable energy and energy efficiency technologies and practices. As of 2015, at least 48 countries have adopted financial incentives to support renewable energy and energy efficiency deployment. Broader clean energy strategies and plans provide a crucial foundation for financial incentives that often complement regulatory policies such as renewable energy targets, standards, and other mandates. This policy brief provides a primer on key financial incentive design elements, lessons from different country experiences, and curated support resources for more detailed and country-specific financial incentive design information.

  20. Keynes’ monetary theory and transition economies

    Directory of Open Access Journals (Sweden)

    Ivan Ribnikar

    2007-05-01

    Full Text Available After a short outline of how Keynes’ monetary theory was being accepted, read and discussed before the transition period started at early 1990s, two key issues somehow connected with Keynes are being analyzed in this paper. The first issue focuses on the problems of selling of business enterprises, i.e.their shares, in transition countries, as they had to be transformed from stately or socially owned to privately owned companies. These problems are remotely similar to problems resolved or ‘resolved’ by the Say’s Law. If the government does not enable private sector to buy companies, domestic savings and capital formation will decrease. For instance, what the government should have done in cases where businessenterprises were socially owned is being analyzed and illustrated with IS-LM diagrams for the open economy. The second issue deals with how the central bank should behave – especially if the government had not done anything to enable smooth purchases of business enterprises by the domestic private sectors. The central bank should prevent either monetary expansion or appreciation of thedomestic currency by sterilized purchases of the surpluses of foreign currencies on the foreign exchange market. Both issues are somehow connected with Keynes and/or economists whether either his followers or not.

  1. The Changing Effectiveness of Monetary Policy

    Directory of Open Access Journals (Sweden)

    Jonathan E. Leightner

    2013-11-01

    Full Text Available In the wake of the 2008 financial crisis, many countries are hoping that massive increases in their money supplies will revive their economies. Evaluating the effectiveness of this strategy using traditional statistical methods would require the construction of an extremely complex economic model of the world that showed how each country’s situation affected all other countries. No matter how complex that model was, it would always be subject to the criticism that it had omitted important variables. Omitting important variables from traditional statistical methods ruins all estimates and statistics. This paper uses a relatively new statistical method that solves the omitted variables problem. This technique produces a separate slope estimate for each observation which makes it possible to see how the estimated relationship has changed over time due to omitted variables. I find that the effectiveness of monetary policy has fallen between the first quarter of 2003 and the fourth quarter of 2012 by 14%, 36%, 38%, 32%, 29% and 69% for Japan, the UK, the USA, the Euro area, Brazil, and the Russian Federation respectively. I hypothesize that monetary policy is suffering from diminishing returns because it cannot address the fundamental problem with the world’s economy today; that problem is a global glut of savings that is either sitting idle or funding speculative bubbles.

  2. Optimal monetary policy and oil price shocks

    Science.gov (United States)

    Kormilitsina, Anna

    This dissertation is comprised of two chapters. In the first chapter, I investigate the role of systematic U.S. monetary policy in the presence of oil price shocks. The second chapter is devoted to studying different approaches to modeling energy demand. In an influential paper, Bernanke, Gertler, and Watson (1997) and (2004) argue that systematic monetary policy exacerbated the recessions the U.S. economy experienced in the aftermath of post World War II oil price shocks. In the first chapter of this dissertation, I critically evaluate this claim in the context of an estimated medium-scale model of the U.S. business cycle. Specifically, I solve for the Ramsey optimal monetary policy in the medium-scale dynamic stochastic general equilibrium model (henceforth DSGE) of Schmitt-Grohe and Uribe (2005). To model the demand for oil, I use the approach of Finn (2000). According to this approach, the utilization of capital services requires oil usage. In the related literature on the macroeconomic effects of oil price shocks, it is common to calibrate structural parameters of the model. In contrast to this literature, I estimate the parameters of my DSGE model. The estimation strategy involves matching the impulse responses from the theoretical model to responses predicted by an empirical model. For estimation, I use the alternative to the classical Laplace type estimator proposed by Chernozhukov and Hong (2003). To obtain the empirical impulse responses, I identify an oil price shock in a structural VAR (SVAR) model of the U.S. business cycle. The SVAR model predicts that, in response to an oil price increase, GDP, investment, hours, capital utilization, and the real wage fall, while the nominal interest rate and inflation rise. These findings are economically intuitive and in line with the existing empirical evidence. Comparing the actual and the Ramsey optimal monetary policy response to an oil price shock, I find that the optimal policy allows for more inflation, a

  3. Incentives and moral hazard

    DEFF Research Database (Denmark)

    Wendimu, Mengistu Assefa; Henningsen, Arne; Czekaj, Tomasz Gerard

    2017-01-01

    system and thus, the incentives to the workers. We compare the productivity of these two production schemes using a cross-sectional plot-level data set. As sugarcane production depends on various exogenous factors that are measured as categorical variables (e.g., soil type, cane variety, etc.), we......We investigate the unique contractual arrangement between a large Ethiopian sugar factory and its adjacent outgrower associations. The only significant difference between the sugarcane production on the factory-operated sugarcane plantation and on the outgrower-operated plots is the remuneration...... estimate the production function by a nonparametric kernel regression method that takes into account both continuous and categorical explanatory variables without assuming a functional form and without imposing restrictions on interactions between the explanatory variables. Our results show that outgrower...

  4. Text-message reminders plus incentives increase adherence to antidiabetic medication in adults with type 2 diabetes.

    Science.gov (United States)

    Raiff, Bethany R; Jarvis, Brantley P; Dallery, Jesse

    2016-12-01

    Some adults with Type 2 diabetes mellitus have difficulty adhering to their oral medication regimens. The current study used a multiple baseline design with 3 adults with Type 2 diabetes. Medication taking was monitored remotely in real time via an electronic pill bottle. During the intervention, monetary incentives were delivered contingent on evidence of adherence to taking medication at specified times. Text-message reminders were also sent if medication was not taken. Adherence increased for all participants. Future studies should separate the relative contributions of text-message and incentive components of the intervention. © 2016 Society for the Experimental Analysis of Behavior.

  5. Incentives to Repurpose Existing Drugs for Orphan Indications

    OpenAIRE

    Kwok, Annette K.; Koenigbauer, Fabian M.

    2015-01-01

    The Orphan Drug Act has been successful in providing incentives to find cures for orphan diseases. However, many orphan diseases are still without cure. Therefore, the 114th Congress has introduced the 21st Century Cures Act and the Orphan Product Extension Now Accelerating Cures and Treatment Act of 2015 to further provide incentives to innovators to repurpose existing drugs for treatment of these orphan diseases. However, these bills are currently pending and their ince...

  6. Banks' risk appetite, heterogeneity and monetary policy: evidence ...

    African Journals Online (AJOL)

    ... to avoid distress or crisis in the financial system. Again, the unsystemic banks that are seen to be performing poorly should be encouraged to either merge or be acquired to form mega banks which will eventually make the entire system stronger. Keywords: Heterogeneity, risk appetite, monetary policy, monetary authority ...

  7. The monetary reform of 1854 in the Duchy of Schleswig

    DEFF Research Database (Denmark)

    Clausen, Thomas

    2014-01-01

    This article is a survey of the monetary reform of 1854 in the Duchy of Schleswig, then part of the Danish monarchy. The reform can be seen as the third of three major attempts to overcome the economic and political difficulties associated with a heterogeneous and divided monetary system within...... the institutional framework of the Danish composite monarchy....

  8. The relative importance of the channels of monetary policy ...

    African Journals Online (AJOL)

    This study sought to examine relative importance of the different channels of the monetary transmission mechanism in Zambia. Vector Autoregressive Methods are used to examine the strength of each channel of monetary policy, namely interest rate, Exchange rate, credit and asset price channels. Results indicate that the ...

  9. Monetary union without fiscal coordination may discipline policymakers

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    1995-01-01

    We show that, with benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes and public spending. These disciplining effects of a monetary union, which rise with the number of fiscal players in the union, are likely to raise welfare. Joining an optimally designed

  10. Financial Inclusion and Monetary Policy: A Review of Recent Studies

    African Journals Online (AJOL)

    2017-05-01

    May 1, 2017 ... determinants, effects and evaluation of these concepts. Areas for discussions have focused on financial inclusion and its implications for monetary policy and financial stability. The linkage between financial inclusion and monetary policy has been studied in few instances and through models that estimate a ...

  11. 48 CFR 3045.508-3 - Quantitative and monetary control.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Quantitative and monetary control. 3045.508-3 Section 3045.508-3 Federal Acquisition Regulations System DEPARTMENT OF HOMELAND... Management of Government Property in the Possession of Contractors 3045.508-3 Quantitative and monetary...

  12. Exchange Rate Pass-Through And Monetary Policy

    OpenAIRE

    Frederic S. Mishkin

    2008-01-01

    This paper discusses what recent economic research tells us about exchange rate pass-through and what this suggests for the control of monetary policy. It first focuses on exchange rate pass-through from a macroeconomic perspective and then examines the microeconomic evidence. In light of this evidence, it then discusses the implications of exchange rate movements on the conduct of monetary policy.

  13. Monetary Policy, Determinancy and Learnability in the Open Economy

    NARCIS (Netherlands)

    Bullard, J.; Schaling, E.

    2005-01-01

    We study how determinacy and learnability of global rational expectations equilibrium may be affected by monetary policy in a simple, two country, New Keynesian framework.The two blocks may be viewed as the U.S. and Europe, or as regions within the euro zone.We seek to understand how monetary policy

  14. 77 FR 64431 - Civil Monetary Penalty Inflation Adjustment Rule

    Science.gov (United States)

    2012-10-22

    ... Surface Transportation Board 49 CFR Part 1022 Civil Monetary Penalty Inflation Adjustment Rule AGENCY... issuing a final rule to adjust the Board's civil monetary penalties for inflation on a periodic basis pursuant to the Federal Civil Penalties Inflation Act of 1990, as amended by the Debt Collection...

  15. 78 FR 66643 - Civil Monetary Penalty Inflation Adjustment Rule

    Science.gov (United States)

    2013-11-06

    ... AGENCY 40 CFR Part 19 RIN 2020-AA49 Civil Monetary Penalty Inflation Adjustment Rule AGENCY... final rule that amends the Civil Monetary Penalty Inflation Adjustment Rule. This action is mandated by the Debt Collection Improvement Act of 1996 (DCIA) to adjust for inflation certain statutory civil...

  16. Monetary aggregate targeting and inflation in Nigeria | Adedoyin ...

    African Journals Online (AJOL)

    In a capitalist economy, monetary aggregate policy instruments are normally employed by monetary authorities. This attempt is to achieve counter cyclical policy objectives like the level of inflation, a reasonable level of price stability, an equitable distribution of income and wealth, a favourable balance of payments and ...

  17. 76 FR 74625 - Civil Monetary Penalties Inflation Adjustment

    Science.gov (United States)

    2011-12-01

    ...-AA69 Civil Monetary Penalties Inflation Adjustment AGENCIES: U.S. Customs and Border Protection... for inflation certain civil monetary penalties assessed under the Immigration and Nationality Act (INA... assessed under the INA. The Federal Civil Penalties Inflation Adjustment Act of 1990 (Adjustment Act...

  18. 77 FR 60047 - Adjustment of Civil Monetary Penalties for Inflation

    Science.gov (United States)

    2012-10-02

    ... CFR Part 36 RIN 1801-AA12 Adjustment of Civil Monetary Penalties for Inflation AGENCY: Department of... regulations to adjust the Department's civil monetary penalties (CMPs) for inflation, as required by the Federal Civil Penalties Inflation Adjustment Act of 1990. DATES: These regulations are effective October 2...

  19. 8 CFR 280.53 - Civil monetary penalties inflation adjustment.

    Science.gov (United States)

    2010-01-01

    ... 8 Aliens and Nationality 1 2010-01-01 2010-01-01 false Civil monetary penalties inflation... REGULATIONS IMPOSITION AND COLLECTION OF FINES § 280.53 Civil monetary penalties inflation adjustment. (a) In general. In accordance with the requirements of the Federal Civil Penalties Inflation Adjustment Act of...

  20. 77 FR 65100 - Adjustment of Civil Monetary Penalties for Inflation

    Science.gov (United States)

    2012-10-25

    ... COMMISSION 17 CFR Part 143 RIN 3038-AD76 Adjustment of Civil Monetary Penalties for Inflation AGENCY... inflation. This rule sets forth the maximum, inflation-adjusted dollar amount for civil monetary penalties... and orders thereunder. The rule, as amended, implements the Federal Civil Penalties Inflation...

  1. An Analysis of the Stability of Monetary Aggragates in Botswana ...

    African Journals Online (AJOL)

    2008-10-07

    Oct 7, 2008 ... authorities choose a quantity they wish to control in order to achieve their inflation objectives. These quantities can be any of money supply, monetary base, credit expansion, etc. The Bank of Botswana, in the conduct of monetary policy focuses on domestic credit expansion, that is, the rate of growth of ...

  2. Impact Of Monetary Policy On Financial Asset Returns: An Analysis ...

    African Journals Online (AJOL)

    This paper presents an analysis of the impact of monetary policy on financial asset returns, with particular reference to stocks. The minimum discount rate and an index based on the direction of change in discount rate were used as monetary policy proxies. The analysis was done using a multi-association model of which ...

  3. 26 CFR 1.6038A-4 - Monetary penalty.

    Science.gov (United States)

    2010-04-01

    ... records as required by § 1.6038A-3 of transactions with multiple related parties, the monetary penalty may be assessed for each failure to maintain records with respect to each related party. The monetary..., engages in related party transactions with FC. Corp X does not timely file a Form 5472 or maintain records...

  4. Why Money Talks and Wealth Whispers : Monetary Uncertainty and Mystique

    NARCIS (Netherlands)

    Eijffinger, S.C.W.; Hoeberichts, M.M.; Schaling, E.

    1997-01-01

    This paper analyzes the effect of monetary uncertainty on the inflationary bias and the variance of output and inflation. Monetary policy uncertainty is modeled as a shock to the central banker’s preference for inflation stabilization relative to output stabilization that cannot be observed by the

  5. Transmission Channels of Monetary Policy: A Broader View

    Directory of Open Access Journals (Sweden)

    Lukáš Kučera

    2016-08-01

    Full Text Available The paper deals with a transmission mechanism of monetary policy under the regime of inflation targeting. It focuses on the expectations channel, the credit view and the cost channel. These channels work side by side and may amplify effects of the traditional view of transmission mechanisms of monetary policy, which emphasises adjustments on the demand side.

  6. Monetary union without fiscal coordination may discipline policymakers

    NARCIS (Netherlands)

    Beetsma, R.M.W.J.; Bovenberg, A.L.

    1998-01-01

    With benevolent policymakers and fiscal leadership, monetary unification reduces inflation, taxes, and public spending. These disciplining effects of a monetary union, which become stronger if the number of participants in the union increases, are likely to raise welfare. Two types of arrangements

  7. Financial liberalisation and monetary control reform in Mauritius ...

    African Journals Online (AJOL)

    A major institutional change has been the reorientation of monetary policy implementation towards increasing reliance on market-based techniques. This paper analyses the effectiveness of this policy change. Keywords : Financial liberalisation, financial repression, monetary control reform, direct control and market-based ...

  8. The transmission of monetary policy through conventional and islamic banks

    NARCIS (Netherlands)

    Zaheer, S.; Ongena, S.; van Wijnbergen, S.

    2012-01-01

    We investigate the differences in banks' responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

  9. The transmission of monetary policy through conventional and Islamic banks

    NARCIS (Netherlands)

    Zaheer, S.; Ongena, S.; van Wijnbergen, S.J.G.

    2013-01-01

    We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type—i.e., conventional versus Islamic—in Pakistan between 2002:Q2 and 2010:Q1. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

  10. The Transmission of Monetary Policy through Conventional and Islamic Banks

    NARCIS (Netherlands)

    Zaheer, S.; Ongena, S.; van Wijnbergen, S.J.G.

    2011-01-01

    We investigate the differences in banks’ responses to monetary policy shocks across bank size, liquidity, and type, i.e., conventional versus Islamic, in Pakistan between 2002:II to 2010:I. We find that following a monetary contraction, small banks with liquid balance sheets cut their lending less

  11. Reference-dependent Preferences and the Transmission of Monetary Policy

    NARCIS (Netherlands)

    Gaffeo, E.; Petrella, I.; Pfajfar, D.; Santoro, E.

    2010-01-01

    This paper proposes a novel explanation of the vast empirical evidence showing that output and prices react asymmetrically to monetary policy innovations over contractions and expansions in the business cycle. We use VAR techniques to show that monetary policy exerts stronger e¤ects on the U.S. GDP

  12. Monetary stability and financial development in Sub-Saharan countries

    NARCIS (Netherlands)

    Adema, Yvonne; Sterken, Elmer

    2001-01-01

    Abstract We analyze the interrelation between monetary stability and financial structure in 20 Sub-Saharan economies. Using a panel data set we estimate the impact of monetary stability and financial development on income per capita. Special interest is given to the conditions of the so-called

  13. Monetary stability and financial development in Sub-Saharan countries

    NARCIS (Netherlands)

    Adema, Yvonne; Sterken, Elmer

    2001-01-01

    We analyze the interrelation between monetary stability and financial structure in 20 Sub-Saharan economies. Using a panel data set we estimate the impact of monetary stability and financial development on income per capita. Special interest is given to the conditions of the so-called CFA-countries,

  14. Monetary value of the impacts of filamentous green algae on ...

    African Journals Online (AJOL)

    This paper presents estimates of the monetary value of the impact of eutrophication (algae) on commercial agriculture in two different catchments in South Africa. A production function approach is applied to estimate the monetary value of the impact of filamentous green algae on commercial agriculture in the Dwars River, ...

  15. Financial structure and monetary policy transmission in transition countries

    NARCIS (Netherlands)

    Elbourne, A.; de Haan, J.

    Using the structural vector autoregressive methodology, we present estimates of monetary transmission for the new and future EU member countries in Central and Eastern Europe. Unlike most previous research we include ten transition countries. We examine to what extent monetary transmission in these

  16. Applicability of Newton's law of cooling in monetary economics

    Science.gov (United States)

    Todorović, Jadranka Đurović; Tomić, Zoran; Denić, Nebojša; Petković, Dalibor; Kojić, Nenad; Petrović, Jelena; Petković, Biljana

    2018-03-01

    Inflation is a phenomenon which attracts the attention of many researchers. Inflation is not a recent date phenomenon, but it has existed ever since money emerged in world's first economies. With the development of economy and market, inflation developed as well. Today, even though there is a considerable number of research papers on inflation, there is still not enough knowledge about all factors which might cause inflation, and influence its evolution and dynamics. Regression analysis is a powerful statistical tool which might help analyse a vast amount of data on inflation, and provide an answer to the question about the factors of inflation, as well as the way those factors influence it. In this article Newton's Law of Cooling was applied to determine the long-term dynamics of monetary aggregates and inflation in Serbia and Croatia.

  17. TEXT-MESSAGE REMINDERS PLUS INCENTIVES INCREASE ADHERENCE TO ANTIDIABETIC MEDICATION IN ADULTS WITH TYPE 2 DIABETES

    OpenAIRE

    Raiff, Bethany R; Jarvis, Brantley P; Dallery, Jesse

    2016-01-01

    Some adults with Type 2 diabetes mellitus have difficulty adhering to their oral medication regimens. The current study used a multiple baseline design with 3 adults with Type 2 diabetes. Medication taking was monitored remotely in real time via an electronic pill bottle. During the intervention, monetary incentives were delivered contingent on evidence of adherence to taking medication at specified times. Text-message reminders were also sent if medication was not taken. Adherence increased ...

  18. EFFECTS OF MONETARY POLICY IN ROMANIA - A VAR APPROACH

    Directory of Open Access Journals (Sweden)

    Iulian Popescu

    2012-10-01

    Full Text Available Understanding how monetary policy decisions affect inflation and other economic variables is particularly important. In this paper we consider the implications of monetary policy under the inflation targeting regime in Romania, based on an autoregressive vector method including recursive VAR and structural VAR (SVAR. Therefore, we focus on assessing the extent and persistence of monetary policy effects on gross domestic product (GDP, price level, extended monetary aggregate (M3 and exchange rate. The main results of VAR analysis reflect a negative response of consumer price index (CPI, GDP and M3 and positive nominal exchange rate behaviour to a monetary policy shock, and also a limited impact of a short-term interest rate shock in explaining the consumer prices, production and exchange rate fluctuations.

  19. Some considerations on using monetary policy to promote financial stability

    Directory of Open Access Journals (Sweden)

    Petria, N.

    2010-12-01

    Full Text Available The current period of crisis on credit markets has highlighted the crucial role of the behaviour of banks in the transmission mechanism of monetary policy. This paper summarises our considerations on how monetary policy, as the main instrument, acts in order to promote financial stability and to stabilize the banking system. Central banks have a variety of tools for implementing monetary policy, but the tool that has received the most attention in literature is the interest rate. We observe that the financial crisis that erupted in the summer of 2007 has refocused attention on other channels of monetary policy, notably the transmission of policy through the supply of credit and overall conditions in the capital markets. Monetary policy has important macroeconomic effects only to the extent that it moves financial market prices that really matter—like long-term interest rates, stock market values, and exchange rates.

  20. Medicare Program; Hospital Inpatient Prospective Payment Systems for Acute Care Hospitals and the Long-Term Care Hospital Prospective Payment System and Policy Changes and Fiscal Year 2018 Rates; Quality Reporting Requirements for Specific Providers; Medicare and Medicaid Electronic Health Record (EHR) Incentive Program Requirements for Eligible Hospitals, Critical Access Hospitals, and Eligible Professionals; Provider-Based Status of Indian Health Service and Tribal Facilities and Organizations; Costs Reporting and Provider Requirements; Agreement Termination Notices. Final rule.

    Science.gov (United States)

    2017-08-14

    We are revising the Medicare hospital inpatient prospective payment systems (IPPS) for operating and capital-related costs of acute care hospitals to implement changes arising from our continuing experience with these systems for FY 2018. Some of these changes implement certain statutory provisions contained in the Pathway for Sustainable Growth Rate (SGR) Reform Act of 2013, the Improving Medicare Post-Acute Care Transformation Act of 2014, the Medicare Access and CHIP Reauthorization Act of 2015, the 21st Century Cures Act, and other legislation. We also are making changes relating to the provider-based status of Indian Health Service (IHS) and Tribal facilities and organizations and to the low-volume hospital payment adjustment for hospitals operated by the IHS or a Tribe. In addition, we are providing the market basket update that will apply to the rate-of-increase limits for certain hospitals excluded from the IPPS that are paid on a reasonable cost basis subject to these limits for FY 2018. We are updating the payment policies and the annual payment rates for the Medicare prospective payment system (PPS) for inpatient hospital services provided by long-term care hospitals (LTCHs) for FY 2018. In addition, we are establishing new requirements or revising existing requirements for quality reporting by specific Medicare providers (acute care hospitals, PPS-exempt cancer hospitals, LTCHs, and inpatient psychiatric facilities). We also are establishing new requirements or revising existing requirements for eligible professionals (EPs), eligible hospitals, and critical access hospitals (CAHs) participating in the Medicare and Medicaid Electronic Health Record (EHR) Incentive Programs. We are updating policies relating to the Hospital Value-Based Purchasing (VBP) Program, the Hospital Readmissions Reduction Program, and the Hospital-Acquired Condition (HAC) Reduction Program. We also are making changes relating to transparency of accrediting organization survey

  1. Using Behavioral Economics to Design Physician Incentives That Deliver High-Value Care.

    Science.gov (United States)

    Emanuel, Ezekiel J; Ubel, Peter A; Kessler, Judd B; Meyer, Gregg; Muller, Ralph W; Navathe, Amol S; Patel, Pankaj; Pearl, Robert; Rosenthal, Meredith B; Sacks, Lee; Sen, Aditi P; Sherman, Paul; Volpp, Kevin G

    2016-01-19

    Behavioral economics provides insights about the development of effective incentives for physicians to deliver high-value care. It suggests that the structure and delivery of incentives can shape behavior, as can thoughtful design of the decision-making environment. This article discusses several principles of behavioral economics, including inertia, loss aversion, choice overload, and relative social ranking. Whereas these principles have been applied to motivate personal health decisions, retirement planning, and savings behavior, they have been largely ignored in the design of physician incentive programs. Applying these principles to physician incentives can improve their effectiveness through better alignment with performance goals. Anecdotal examples of successful incentive programs that apply behavioral economics principles are provided, even as the authors recognize that its application to the design of physician incentives is largely untested, and many outstanding questions exist. Application and rigorous evaluation of infrastructure changes and incentives are needed to design payment systems that incentivize high-quality, cost-conscious care.

  2. BIBLICAL REFERENCES TO MONETARY AND CREDIT RELATIONS

    Directory of Open Access Journals (Sweden)

    Dan CONSTANTINESCU

    2014-06-01

    Full Text Available It is unanimously accepted that the Bible is one reference in the writings of humanity. Of course, it is based – foremost – on the messianic idea, widely exploited in theological disciplines. Meanwhile, though, multilateral cognitive valences cannot be circumvented, especially, the character of historic document of many biblical texts that record facts and events that took place over a long period of time. Furthermore, we consider that the Bible – in its whole – is a foundation and a coherent configuration for a large number of scientific disciplines, the author’s concerns being channelled, naturally, toward economic origin disciplines. In this context there can be highlighted texts attesting the existence and development since the ancient times of economic relations, out of which – in the present study – we will focus on monetary and credit relations.

  3. The price level and monetary policy

    Directory of Open Access Journals (Sweden)

    Charles P. Kindleberger

    2002-03-01

    Full Text Available Most central banks are required to or choose to stabilize a price index, largely by manipulating short term interest rates. A serious problem is which index to choose among the national income deflator, wholesale prices, the cost of living, with or eliminating highly volatile commodities such as food and energy, to produce a core index, plus others such as housing, including or without imputed rent of owner-occupied houses, or assets, whether equities or houses. No obvious and widely agreed index exists. Even if there were a clear choice, there remains a question whether a central bank should carefully consider action in order to achieve other goals: full employment, adjustment of the balance of payments, of the exchange rate, prevention of bubbles in asset prices, or recovery from financial crises. If so, the question of central bank weapons remains: monetary expansion or contraction, credit controls, for overall or for particular purposes, and moral suasion.

  4. Incentives and Big E Engagement.

    Science.gov (United States)

    Terry, Paul E

    2017-11-01

    The kind of engagement industrial psychologists have shown can produce optimal performance relates more to a state of mind than to increasing participation in programs or motivating a workforce with financial incentives. In the context of quality improvement methodologies, the health promotion profession has yet to discover when, where and how large financial incentives should be and how they best fit in our processes. That is, there is no "standard work" for the use of extrinsic motivators. Yet, to argue against incentives given evidence to date has more to do with polemics than science.

  5. Acceptability of Financial Incentives for Health Behaviours: A Discrete Choice Experiment.

    Directory of Open Access Journals (Sweden)

    Emma L Giles

    Full Text Available Healthy behaviours are important determinants of health and disease, but many people find it difficult to perform these behaviours. Systematic reviews support the use of personal financial incentives to encourage healthy behaviours. There is concern that financial incentives may be unacceptable to the public, those delivering services and policymakers, but this has been poorly studied. Without widespread acceptability, financial incentives are unlikely to be widely implemented. We sought to answer two questions: what are the relative preferences of UK adults for attributes of financial incentives for healthy behaviours? Do preferences vary according to the respondents' socio-demographic characteristics?We conducted an online discrete choice experiment. Participants were adult members of a market research panel living in the UK selected using quota sampling. Preferences were examined for financial incentives for: smoking cessation, regular physical activity, attendance for vaccination, and attendance for screening. Attributes of interest (and their levels were: type of incentive (none, cash, shopping vouchers or lottery tickets; value of incentive (a continuous variable; schedule of incentive (same value each week, or value increases as behaviour change is sustained; other information provided (none, written information, face-to-face discussion, or both; and recipients (all eligible individuals, people living in low-income households, or pregnant women.Cash or shopping voucher incentives were preferred as much as, or more than, no incentive in all cases. Lower value incentives and those offered to all eligible individuals were preferred. Preferences for additional information provided alongside incentives varied between behaviours. Younger participants and men were more likely to prefer incentives. There were no clear differences in preference according to educational attainment.Cash or shopping voucher-type financial incentives for healthy

  6. Acceptability of Financial Incentives for Health Behaviours: A Discrete Choice Experiment.

    Science.gov (United States)

    Giles, Emma L; Becker, Frauke; Ternent, Laura; Sniehotta, Falko F; McColl, Elaine; Adams, Jean

    2016-01-01

    Healthy behaviours are important determinants of health and disease, but many people find it difficult to perform these behaviours. Systematic reviews support the use of personal financial incentives to encourage healthy behaviours. There is concern that financial incentives may be unacceptable to the public, those delivering services and policymakers, but this has been poorly studied. Without widespread acceptability, financial incentives are unlikely to be widely implemented. We sought to answer two questions: what are the relative preferences of UK adults for attributes of financial incentives for healthy behaviours? Do preferences vary according to the respondents' socio-demographic characteristics? We conducted an online discrete choice experiment. Participants were adult members of a market research panel living in the UK selected using quota sampling. Preferences were examined for financial incentives for: smoking cessation, regular physical activity, attendance for vaccination, and attendance for screening. Attributes of interest (and their levels) were: type of incentive (none, cash, shopping vouchers or lottery tickets); value of incentive (a continuous variable); schedule of incentive (same value each week, or value increases as behaviour change is sustained); other information provided (none, written information, face-to-face discussion, or both); and recipients (all eligible individuals, people living in low-income households, or pregnant women). Cash or shopping voucher incentives were preferred as much as, or more than, no incentive in all cases. Lower value incentives and those offered to all eligible individuals were preferred. Preferences for additional information provided alongside incentives varied between behaviours. Younger participants and men were more likely to prefer incentives. There were no clear differences in preference according to educational attainment. Cash or shopping voucher-type financial incentives for healthy behaviours are

  7. The effects of monetary and social rewards on task performance in children and adolescents: liking is not enough.

    Science.gov (United States)

    Demurie, Ellen; Roeyers, Herbert; Baeyens, Dieter; Sonuga-Barke, Edmund

    2012-12-01

    The current study compared the effects of reward anticipation on task performance in children and adolescents (8-16 years old) using monetary and various social rewards. Eighty-five typically developing children undertook the Monetary Incentive Delay (MID) task. Of these 44 also undertook the Social Incentive Delay (SID-basic) task where social reward was operationalized as a smiling face and spoken compliments. Forty-one children participated in the SID-plus where points were added to a pictogram with written compliments. In a preparatory validation study participants were asked howmuch they liked the SID-basic rewards.Results showed that there was an effect of reward size on accuracy and RT in both the MID task and SID-plus, but not SID-basic. Subjective value of the SID-basic rewards was rated higher with hypothesized increasing reward intensity. In conclusion, although the social rewards in SID-basic were liked by children andadolescents in the validation study, they had no effect on the behaviour. Only when points were added (SID-plus), anticipated social reward affected task performance. Thus our results highlight (i) the difference between likeability andreinforcing quality and (ii) the need for a quantifiable element to rewards for themto be reinforcing for children. Copyright © 2012 John Wiley & Sons, Ltd.

  8. Financial incentives to improve progression through the HIV treatment cascade.

    Science.gov (United States)

    Bassett, Ingrid V; Wilson, David; Taaffe, Jessica; Freedberg, Kenneth A

    2015-11-01

    We reviewed recent literature on conditional and unconditional financial incentives for their impact on improving movement through the HIV care cascade and HIV prevention. Concepts from behavioral economics may help improve engagement in HIV care by addressing upstream structural risk factors for HIV, such as poverty, or providing conditional rewards for immediate, measurable outcomes related to HIV care. Incentives have been shown to increase uptake of HIV testing. Yet, few studies to date focus on linkage to care: one large USA-based randomized trial failed to show an effect of incentives; and a smaller trial showed improved linkage to care among drug users, but no difference in virologic suppression. Several small USA-based studies have shown an impact of financial incentives on antiretroviral therapy adherence, but without durability beyond the incentive period. HIV prevention has the most robust evidence for decreasing HIV risk-taking behavior among adolescents and may serve as a model for research on the care cascade. Financial incentives show promise for improving engagement in HIV testing, care, and prevention. Understanding the durability, scalability, ease of implementation, and cost-effectiveness of these different approaches will be critical for maximizing the impact of incentives in curtailing the HIV epidemic.

  9. Welfare Implications of Alternative Monetary Policy Rules: A New Keynesian DSGE Model for Turkey

    Directory of Open Access Journals (Sweden)

    Yağcıbaşı Özge Filiz

    2017-12-01

    Full Text Available In recent years, there has been extensive research on the conduct of monetary policy in small open economies that are subject to inflation and output fluctuations. Policymakers should decide whether to implement strict inflation targeting or to respond to the changes in output fluctuations while conducting monetary policy rule. This study aims to examine the response of alternative monetary policy rules to Turkish economy by means of a DSGE model that is subject to demand and technology shocks. The New Keynesian model we used is borrowed from Gali (2015 and calibrated for the Turkish economy. Welfare effects of alternative Taylor rules are evaluated under different specifications of central bank loss function. One of the main findings of this paper is that in the case of a technology shock, strict inflation targeting rules provide the minimum welfare loss under all loss function configurations. On the contrary, the losses are weakened if the monetary authority responds to output fluctuations in the presence of a demand shock. Finally, there exists a trade-off between the volatility of output and inflation in case of a technology shock, while the volatility of both variables moves in the same direction in response to a demand shock.

  10. The Impact of the Great Recession on Monetary and Fiscal Policy in Developed Market Economies

    Directory of Open Access Journals (Sweden)

    Šehović Damir

    2015-03-01

    Full Text Available Background: With the occurrence of the crisis in 2007, which caused the largest economic contraction since the Great Depression in the thirties, it has become evident that the previous understanding of strategies, effects and roles of monetary and fiscal policy should be redefined. Objectives: The aim of this paper is to illustrate a possible expected change in monetary and fiscal policy in developed market economies that could occur as a consequence of the Great Recession. Methods/Approach: The paper provides a comparative analysis of various primary economic variables related to the developed OECD countries, as well as the empirical testing of the selected theoretical assumptions. Results: The changes in monetary policy refer to the question of raising target inflation, considering a possible use of aggregate price level targeting and paying attention to the role of central banks in suppressing the formation of an asset bubble. The success of fiscal policy in attaining stabilization depends on the size of possible fiscal measures and creation of automatic stabilizers. Conclusions: For the most part, monetary and fiscal policies will still stay unchanged, although some segments of these policies need to be improved.

  11. Premier Hospital Quality Incentive Demonstration

    Data.gov (United States)

    U.S. Department of Health & Human Services — CMS is pursuing a vision to improve the quality of health care by expanding the information available about quality of care and through direct incentives to reward...

  12. Increasing Army Retention Through Incentives

    National Research Council Canada - National Science Library

    Beerman, Kevin

    2006-01-01

    .... This study examines current retention issues and the Army Incentive Model. The model appears to offer a range of benefits that may retain a segment of what demographers have labeled as the Millennium Generation...

  13. Motivating employees through incentive programs.

    OpenAIRE

    Lai, Calista.

    2009-01-01

    Motivated employees are the cornerstone of any successful organization. The objectives of this research are to explore the motivational factors and the effectiveness of these incentive programs pertaining to work motivation. The thesis consists of two main components: theoretical and research. The first part is the theoretical framework, which examines the various motivation theories and the different categories of incentives. Information for the theoretical background was collected from publ...

  14. On Manufacturing/Marketing Incentives

    OpenAIRE

    Evan L. Porteus; Seungjin Whang

    1991-01-01

    Stereotypically, marketing is mainly concerned about satisfying customers and manufacturing is mainly interested in factory efficiency. Using the principal-agent (agency) paradigm, which assumes that the marketing and manufacturing managers of the firm will act in their self-interest, we seek incentive plans that will induce those managers to act so that the owner of the firm can attain as much as possible of the residual returns. One optimal incentive plan can be interpreted as follows: The ...

  15. Exit Options in Corporate Finance: Liquidity versus Incentives

    OpenAIRE

    Aghion, Philippe; Bolton, Patrick; Tirole, Jean

    2004-01-01

    This paper provides a first study of the optimal design of active monitors' exit options in a problem involving a demand for liquidity and costly monitoring of the issuer. Optimal incentives to monitor the issuer may involve restricting the monitor's right to sell her claims on the firm's cash-flow early. But the monitor will then require a liquidity premium for holding such an illiquid claim. In general, therefore, there will be a trade off between incentives and liquidity. The paper highlig...

  16. Promotions and Incentives: The Case of Multistage Elimination Tournaments

    OpenAIRE

    Altmann, Steffen; Falk, Armin; Wibral, Matthias

    2012-01-01

    Promotions play an important role for the provision of incentives in firms. We analyze incentives in multistage elimination tournaments with controlled laboratory experiments. In our two main treatments, we compare a two-stage tournament to a one-stage tournament. Subjects in the two-stage treatment provide excess effort in the first stage, both with respect to Nash predictions and compared to the strategically equivalent one-stage tournament. Additional control treatments confirm that excess...

  17. SYSTEMIC CRISIS MANAGEMENT AND THE IMPACT ON MONETARY POLICY. THE INVOLVEMENT OF CENTRAL BANKS. AN EMPIRICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Adriana GIBA

    2011-09-01

    Full Text Available In a systemic crisis, many institutions in the financial system may face a lack of liquidity and central banks, as lenders of last resort, have to support them in order to ensure their financial stability. The question is: To what extent the involvement of central banks in systemic crises management, by providing liquidity to credit institutions, affects their ability to accomplish the central goal of monetary policy - price stability?To answer this question, through this study, we conducted an empiricalanalysis on the effect which central banks’ involvement in systemic crises management, through liquidity support, has on monetary policy objectives, mainly on price stability. Using a principal components analysis, we built a Monetary policy index and we developed a regression model between this index and the liquidity support provided by central banks in systemic crises.The conclusion we reached is that the provision of liquidity by the central bank to banking institutions in the system affects its monetary policy objectives only on the short -term. Specifically, providing liquidity support leads to an increase in both monetary aggregates and consumer price index in the first two years of the crisis, after which there is a significant dilution of this impact.

  18. Empirical studies of regulatory restructuring and incentives

    Science.gov (United States)

    Knittel, Christopher Roland

    gas is also an input into the generation of electricity. However because these firms are regulated, these differing incentives would only be acted upon if regulation is imperfect in some way. Chapter 2 analyzes these issues. In particular, I estimate equilibrium pricing and investment equations that capture the relative incentives of single and dual-product electricity firms. The results imply that both electricity prices and reliance on natural gas generation are higher in a dual-product setting, both suggesting that regulators respond to the relative incentives of electricity and natural gas firms. Chapter 3 analyzes electricity firm production incentives when regulated via performance based regulation. Although many electricity markets are currently considering adopting a competitive market for electricity generation, and still others have already done so, the vast majority of electricity markets remain tightly regulated. Within this traditional regulatory environment, the use of incentive regulation schemes in US electricity markets has grown during the past two decades. While every state has some program that it refers to as an incentive regulation program, these programs differ in both their goals and how they attempt to meet these goals. In this chapter, I discuss the wide array of programs that have been utilized to alter the incentives of US investor-owned utilities (IOUs). In addition, using stochastic frontier methods, I provide empirical analysis of the impact that a number of incentive regulation programs have on the efficiency of a large set of coal and natural gas generator units.

  19. Characteristics and contemporary challenges of the international monetary and financial system

    Directory of Open Access Journals (Sweden)

    Kovačević Radovan

    2015-01-01

    Full Text Available A well-functioning international monetary system (IMS should provide a satisfactory international liquidity and facilitate money and capital flows in the world economy. In a crisis, the IMS is expected to facilitate capital flows in order to eliminate imbalances leading to the crisis. The main leverage of the IMS in the postwar period was the dollar convertibility into gold, which enabled the US currency to become a global reserve currency. US monetary policy in this monetary system has a basic mission to generate international liquidity. When President Nixon suspended convertibility of the dollar to gold in 1971, this situation led to the collapse of the Bretton Woods system, the dollar began to float freely, but remained the key global reserve currency until today. The 2008 global financial crisis reminded us about the weakness of the current IMS, because the unstable value of the dollar created the risk of US dollar-denominated reserve assets. The current crisis has renewed the objections by the countries with the largest foreign exchange reserves in the world about 'exorbitant privilege' of the U.S. dollar in the IMS, as Charles De Gaulle once called it. The monetary policy impulses in the countries whose currencies belong to the club of leading world currencies (primarily the US, Eurozone and Japan are transferred outside the borders of these countries and affect other countries in the globalized world economy. This paper deals with the consequences of the present IMS structure, which is characterized by the dominant role of the dollar and the euro in international trade and financial flows. The paper studies the channels of US and Eurozone monetary spillovers into the international environment, and their consequences for other countries.

  20. Incentives for demand-side management

    Energy Technology Data Exchange (ETDEWEB)

    Reid, M.W.; Brown, J.B. (Barakat and Chamberlin, Inc., Oakland, CA (United States))

    1992-01-01

    This report is the first product of an ongoing project to monitor the efforts of states to remove regulatory barriers to, and provide financial incentives for, utility investment in demand-side management (DSM) resources. The project was commissioned by the National Association of Regulatory Utility Commissioners (NARUC) in response to growing interest among regulators for a comprehensive survey of developments in this area. Each state report beings with an overview of the state's progress toward removing regulatory barriers and providing incentives for DSM. Information is organized under five headings: status; IRP regulations and practice; current treatment of DSM, directions and trends; commission contact person. Where applicable, each overview is followed by one or more sections that report on specific incentive proposals or mechanisms within the state. Information on each proposal or mechanism is organized under eight headings. A notation on each page identifies the utility or other group associated with the proposal or mechanism. The eight headings are as follows: status; background; treatment of cost recovery; treatment of lost revenues/decoupling; treatment of profitability; other features; issues, and additional observations.

  1. Incentives for demand-side management

    Energy Technology Data Exchange (ETDEWEB)

    Reid, M.W.; Brown, J.B. [Barakat and Chamberlin, Inc., Oakland, CA (United States)

    1992-01-01

    This report is the first product of an ongoing project to monitor the efforts of states to remove regulatory barriers to, and provide financial incentives for, utility investment in demand-side management (DSM) resources. The project was commissioned by the National Association of Regulatory Utility Commissioners (NARUC) in response to growing interest among regulators for a comprehensive survey of developments in this area. Each state report beings with an overview of the state`s progress toward removing regulatory barriers and providing incentives for DSM. Information is organized under five headings: status; IRP regulations and practice; current treatment of DSM, directions and trends; commission contact person. Where applicable, each overview is followed by one or more sections that report on specific incentive proposals or mechanisms within the state. Information on each proposal or mechanism is organized under eight headings. A notation on each page identifies the utility or other group associated with the proposal or mechanism. The eight headings are as follows: status; background; treatment of cost recovery; treatment of lost revenues/decoupling; treatment of profitability; other features; issues, and additional observations.

  2. Welfare rights services for people disabled with arthritis integrated in primary care and hospital settings: set-up costs and monetary benefits

    National Research Council Canada - National Science Library

    Powell, J E; Langley, C; Kirwan, J; Gubbay, D; Memel, D; Pollock, J; Means, R; Hewlett, S

    2004-01-01

    To quantify the set-up costs and monetary benefits of a welfare rights service integrated within an NHS service provider, that selects eligible patients using the Health Assessment Questionnaire (HAQ...

  3. Monetary Policy and Bank Excessive Risk-Taking

    Directory of Open Access Journals (Sweden)

    Taha Zaghdoudi

    2017-04-01

    Full Text Available The aim of this paper is to investigate the relationship between monetary policy and bank excessive risk-taking for a panel of 22 countries over the period 1990- 2014. The sample covers countries from Latin America, OECD and South East Asia. By performing panel cointegration and panel GMM models, results indicate that the adoption of an expansionary monetary policy through high money supply and low interest rates increases non-performing loans. However, a restrictive monetary policy with high interest rates attracts riskier investors.

  4. Incentives of Health Care Expenditure

    Directory of Open Access Journals (Sweden)

    Eero Siljander

    2012-12-01

    Full Text Available The incentives of health care expenditure (HCE have been a topic of discussion in the USA (Obama reforms and in Europe (adjustment to debt crisis. There are competing views of institutional versus GDP (unit income elasticity and productivity related factors of growth of expenditure. However ageing of populations, technology change and economic incentives related to institutions are also key drivers of growth according to the OECD and EU’s AWG committee. Simulation models have been developed to forecast the growth of social expenditure (including HCEs to 2050. In this article we take a historical perspective to look at the institutional structures and their relationship to HCE growth. When controlling for age structure, price developments, doctor density and in-patient and public shares of expenditures, we find that fee-for-service in primary care, is according to the results, in at least 20 percent more costly than capitation or salary remuneration. Capitation and salary (or wage remuneration are at same cost levels in primary care. However we did not find the cost lowering effect for gatekeeping which could have been expected based on previous literature. Global budgeting 30 (partly DRG based percent less costly in specialized care than other reimbursement schemes like open contracting or volume based reimbursement. However the public integration of purchaser and provider cost seems to result to about 20 higher than public reimbursement or public contracting. Increasing the number of doctors or public financing share results in increased HCEs. Therefore expanding public reimbursement share of health services seems to lead to higher HCE. On the contrary, the in-patient share reduced expenditures. Compared to the previous literature, the finding on institutional dummies is in line with similar modeling papers. However the results for public expansion of services is a contrary one to previous works on the subject. The median lag length of

  5. Stabilization of the Monetary and Financial Market as a Necessary Condition for the Transition to Sustainable Development

    Directory of Open Access Journals (Sweden)

    Sergey Yurievich Glazyev

    2016-03-01

    Full Text Available In the absence of the effective system of state regulation, the monetary and financial market not only does not carry out the function of the financing of value-adding investment, but it is also a source of destabilization of the Russian economy. In the article, the analysis of the policy instruments of the Central Bank of the Russian Federation is provided. The reasons and consequences of the financial and currency speculation and transition to free ruble exchange rate are considered. The concept of «inflation targeting» is investigated and the conclusion that the transition to the inflation targeting declared by the Central Bank of Russia did not achieve the stated goals is drawn. The need for using the instruments as the control parameters, corresponding to a host of factors of currency system instead of using only refinancing rate is reasoned. The arguments to apply the currency restrictions are considered. The assessment of a current situation of the Russian monetary and financial system is given as uncontrollable. The manipulation of the Russian monetary and financial market from the foreign financial institutions connected with issuers of world currencies is identified as the main political consequence of the currency and monetary policy. The aggravation of stagflation and of crisis phenomena in the Russian economy at the further realization of similar monetary policy is forecasted. In the article, a number of measures for stabilization of the Russian economy by the state regulation of the monetary and credit sphere, which would secure the monetary and financial market against external and internal threats, is offered.

  6. Beyond Widgets -- Systems Incentive Programs for Utilities

    Energy Technology Data Exchange (ETDEWEB)

    Regnier, Cindy [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Mathew, Paul [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Robinson, Alastair [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Schwartz, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Walter, Travis [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-08-15

    Utility incentive programs remain one of the most significant means of deploying commercialized, but underutilized building technologies to scale. However, these programs have been largely limited to component-based products (e.g., lamps, RTUs). While some utilities do provide ‘custom’ incentive programs with whole building and system level technical assistance, these programs require deeper levels of analysis, resulting in higher program costs. This results in custom programs being restricted to utilities with greater resources, and are typically applied mainly to large or energy-intensive facilities, leaving much of the market without cost effective access and incentives for these solutions. In addition, with increasingly stringent energy codes, cost effective component-based solutions that achieve significant savings are dwindling. Building systems (e.g., integrated façade, HVAC and/or lighting solutions) can deliver higher savings that translate into large sector-wide savings if deployed at the scale of these programs. However, systems application poses a number of challenges – baseline energy use must be defined and measured; the metrics for energy and performance must be defined and tested against; in addition, system savings must be validated under well understood conditions. This paper presents a sample of findings of a project to develop validated utility incentive program packages for three specific integrated building systems, in collaboration with Xcel Energy (CO, MN), ComEd, and a consortium of California Public Owned Utilities (CA POUs) (Northern California Power Agency(NCPA) and the Southern California Public Power Authority(SCPPA)). Furthermore, these program packages consist of system specifications, system performance, M&V protocols, streamlined assessment methods, market assessment and implementation guidance.

  7. Monetary targeting and financial system characteristics : An empirical analysis

    NARCIS (Netherlands)

    Samarina, A..

    2012-01-01

    This paper investigates how reforms and characteristics of the financial system affect the likelihood of countries to abandon their strategy of monetary targeting. Apart from financial system characteristics, we include macroeconomic, fiscal, and institutional factors potentially associated with

  8. International monetary system – between crisis and reform

    National Research Council Canada - National Science Library

    Ramona ORĂŞTEAN; Silvia MĂRGINEAN

    2013-01-01

    The 2008 global crisis that hit in the heart of the system highlighted main deficiencies and vulnerabilities of the current international monetary system and revived the old concerns about its functioning...

  9. COMPETITIVENESS AND MONETARY MANAGEMENT IN ROMANIA – A CRISIS OVERVIEW

    Directory of Open Access Journals (Sweden)

    Anca TANASIE

    2010-01-01

    Full Text Available Abstract:This paper aims to briefly present the effects of the financial and economic crisis in Romania in respect of the monetary developments and their impact on competitiveness, on firms involved in foreign trade on international market. All the analysis is undertaken in the general framework of the monetary integration process envisaging the Euro adoption, and in the context of actions of the Romanian National Bank as part of the foreign exchange and monetary policy strategy. Due to constant preoccupation from the most important monetary institution, the Romanian Leu has performed rather well compared to rest of the macroeconomic picture and seems to drag forward the whole set of other indicators, including economic aspects such as competitiveness. The connection between the foreign exchange rate and competitiveness can be best depicted in the effects on exporting firms.

  10. Loss Aversion and the Asymmetric Transmission of Monetary Policy

    DEFF Research Database (Denmark)

    Santoro, Emiliano; Petrella, Ivan; Pfajfar, Damjan

    2014-01-01

    There is widespread evidence that monetary policy exerts asymmetric effects on output over contractions and expansions in economic activity, while price responses display no sizeable asymmetry. To rationalize these facts we develop a dynamic general equilibrium model where households’ utility...

  11. The role of financial intermediaries in monetary policy transmission

    NARCIS (Netherlands)

    Beck, T.H.L.; Colciago, A.; Pfajfar, D.

    The recent financial crisis has stimulated theoretical and empirical research on the propagation mechanisms underlying business cycles, in particular on the role of financial frictions. Many issues concerning the interactions between banking and monetary policy forced policy makers to redefine

  12. Application of monetary valuation in Life Cycle Assessment

    DEFF Research Database (Denmark)

    Weidema, Bo Pedersen; Pizzol, Massimo; Miguel, Brandão

    for LCA. For the two surveys, the total number of respondents was 209. The critial review showed that observed- and revealed-preference methods and the abatement cost method have limited applicability in LCA, whereas the conjoint analysis method and the budget constraint method are the best options...... limit its diffusion in the field, which resulted in only a few applications so far. This study evaluated different methods for monetary valuation with respect to their relevance in LCA. The specific objectives were: (i) to review systematically, analyse critically, and evaluate existing monetary...... valuation methods, as well as existing LCA-applications of these methods for converting (LCA) results quantified in physical units into monetary units; and (ii) to assess to what extent monetary valuation is used by the LCA community and what barriers limit its diffusion. After identifying and classifying...

  13. Mapping Out A GIS-Multidimensional Non- Monetary Poverty Index

    African Journals Online (AJOL)

    Michael

    2015-12-02

    dimensional (Non-Monetary) Poverty Index approach. Ten indicators which were categories under three dimensions were used. Results of the study showed that across. Ghana, a considerable percentage of households are deprived in ...

  14. Loss aversion and the asymmetric transmission of monetary policy

    NARCIS (Netherlands)

    Gaffeo, E.; Petrella, I.; Pfajfar, D.; Santoro, E.

    There is widespread evidence that monetary policy exerts asymmetric effects on output over contractions and expansions in economic activity, while price responses display no sizeable asymmetry. To rationalize these facts we develop a dynamic general equilibrium model where households’ utility

  15. International monetary system – between crisis and reform

    Directory of Open Access Journals (Sweden)

    Ramona ORĂŞTEAN

    2013-08-01

    Full Text Available The 2008 global crisis that hit in the heart of the system highlighted main deficiencies and vulnerabilities of the current international monetary system and revived the old concerns about its functioning. The reform of the international monetary system is under discussion again after a long period, during the ’90 crises, especially in Southeast Asia, Russia and Brazil. To explain the relation between crisis and reform, this paper identifies some variables and hypotheses. It also analyses the matters that have sparked interest in reforming the international monetary system, in the context of the causes of the crisis and its vulnerabilities, admitting that the current system is not a perfect one. The paper concludes that it is time for a deep reform of the international monetary system.

  16. Optimal monetary policy, asset purchases, and credit market frictions

    OpenAIRE

    Schabert, Andreas

    2014-01-01

    This paper examines how credit market frictions affect optimal monetary policy and if there is a role for central bank asset purchases. We develop a sticky price model where money serves as the means of payment and ex-ante identical agents borrow/lend among each other. The credit market is distorted as borrowing is constrained by available collateral. We show that the central bank cannot implement the first best allocation and that optimal monetary policy mainly aims at stabilizing prices whe...

  17. STUDI KOMPARASI KEMISKINAN DI INDONESIA: MULTIDIMENSIONAL POVERTY DAN MONETARY POVERTY

    OpenAIRE

    Nuryitmawan, Tegar Rismanuar

    2016-01-01

    Research on poverty has long been done by various methods and approaches. Approach to identifying the poor in general by calculating consumption expenditure or income reveneu. The calculation is then known as monetary poverty. Indonesia also use and implemented that approach. However, some experts believe that monetary poverty approach does not capture the whole cause of poverty because the indicator calculation not enough. Though poverty is a multidimensional phenomenon that involves not onl...

  18. Studi Komparasi Kemiskinan Di Indonesia: Multidimensional Poverty Dan Monetary Poverty

    OpenAIRE

    Nuryitmawan, Tegar Rismanuar

    2016-01-01

    Research on poverty has long been done by various methods and approaches. Approach to identifying the poor in general by calculating consumption expenditure or income reveneu. The calculation is then known as monetary poverty. Indonesia also use and implemented that approach. However, some experts believe that monetary poverty approach does not capture the whole cause of poverty because the indicator calculation not enough. Though poverty is a multidimensional phenomenon that involves not onl...

  19. The International Impact of US Unconventional Monetary Policy

    DEFF Research Database (Denmark)

    Lutz, Chandler

    2015-01-01

    Using a structural factor-augmented vector autoregression model and a large data set of daily time series, we study the impact of US unconventional monetary policy on British and German financial markets. Our findings indicate that a surprise US unconventional monetary policy easing leads to incr...... to increased equity returns and lower government bond yields for both Germany and the United Kingdom. These effects then nearly completely dissipate after approximately 750 days....

  20. MANAGEMENT OF SUSTAINABLE SOCIO-ECONOMIC DEVELOPMENT OF REGIONS WITHIN FISCAL AND MONETARY POLICY IN RUSSIA

    Directory of Open Access Journals (Sweden)

    T. Usmanova

    2016-01-01

    Full Text Available Strategy of social and economic development of regions has to be a basis for formation budgetary and tax and a monetary policy. Formation of strategic plans have to provide an exit to the new level of innovative economic and social development of Russia. Adaptation of the current legislation is necessary for the solution of the set major problems regarding budgetary and tax and a monetary policy in the Russian Federation. The important direction of development of social and economic development of territories is the clustering and formation of projects of the public-private partnership (PPP. Within integration of the countries into the world economy the organizations as systems in the form of clusters and the PPP projects can only be the competitive. Within formation of the organizations as systems it is necessary to provide formation of standards of a sustainable development (SEU for social protection of the population and increase of the human capital.

  1. Optimal incentives for collective intelligence.

    Science.gov (United States)

    Mann, Richard P; Helbing, Dirk

    2017-05-16

    Collective intelligence is the ability of a group to perform more effectively than any individual alone. Diversity among group members is a key condition for the emergence of collective intelligence, but maintaining diversity is challenging in the face of social pressure to imitate one's peers. Through an evolutionary game-theoretic model of collective prediction, we investigate the role that incentives may play in maintaining useful diversity. We show that market-based incentive systems produce herding effects, reduce information available to the group, and restrain collective intelligence. Therefore, we propose an incentive scheme that rewards accurate minority predictions and show that this produces optimal diversity and collective predictive accuracy. We conclude that real world systems should reward those who have shown accuracy when the majority opinion has been in error.

  2. Bank-characteristics, lending channel and monetary policy in Malaysia: evidence from bank-level data

    OpenAIRE

    Abdul Majid, Muhamed Zulkhibri

    2010-01-01

    Based on a bank-level panel dataset for Malaysian banks from 1997 to 2005, this paper analyzes the effects of bank-specific characteristics, bank specialization and portfolio concentrations on the transmission of monetary policy via bank lending channel in a fairly well-developed financial system. The dynamic panel regression results provide evidence in favour of the bank lending channel theory and consistent with other empirical evidences that the bank lending channel operating via small and...

  3. The effect of the Advanced Placement Training and Incentive Program on increasing enrollment and performance on Advanced Placement science exams

    Science.gov (United States)

    Ramsey, Susan Brady

    The purpose of this study is to examine the effectiveness of the National Math and Science Initiative's Advanced Placement Training and Incentive Program (APTIP) on the number of students taking AP science courses and their performance. The study evaluated 39 schools over a six-year period in six states that participate in the APTIP. The National Math and Science Initiative provided data for cohort I. A general linear model for repeated measures was used to evaluate the data. Data was evaluated three years prior to the intervention and three years during the intervention, which will actually continue for two more years (2012 and 2013) since cohort I schools were awarded five years of support. Students in APTIP schools enrolled in more AP science exams (AP Biology, AP Chemistry, AP Environmental Science, and AP Physics-B) over the course of the intervention. The quantity of students earning qualifying scores increased during the intervention years. APTIP is a multi-tiered program that includes seven days of teacher training, three six-hour student prep sessions, school equipment, reduced exam fees, and monetary incentives for students and teachers. This program positively impacted the quantity of enrollment and qualifying scores during the three years evaluated in this study. Increases in the number of female and African American students' test takers their and qualifying scores were seen in all three years of the APTIP intervention. This study supports the premise that the first step to increasing the Science, technology, engineering, and math (STEM) pipeline is giving access to advanced courses to more students in high schools.

  4. Suggestions for an East Asian Monetary Union: Focusing on the Effects of Monetary Integration on Bilateral Trade

    Directory of Open Access Journals (Sweden)

    Min-Chang Ko

    2006-06-01

    Full Text Available This study explores alternative ways toward the East Asian monetary union, focusing on the effect of monetary integration on bilateral trade. For this purpose, we analyze with gravity model changes of the bilateral trade among countries of EU, NAFTA, and East Asia. A distinctive feature of this model is that it includes the dummy variables that show the cultural intimacy among North-East Asian countries, Asian NIEs countries, and East Asian countries (North-East Asian and ASEAN countries. We discovered that bilateral trade increased at a highest level among East Asian countries than the other two cases. This result suggests that the once-and-for-all strategy to develop an East Asian monetary union including North-East Asian and ASEAN countries would be more efficient than the multitrack strategy that forms the monetary union of North-East Asian countries in the first place and then tries to extend it to ASEAN countries.

  5. An overview of reviews evaluating the effectiveness of financial incentives in changing healthcare professional behaviours and patient outcomes

    Science.gov (United States)

    Flodgren, Gerd; Eccles, Martin P; Shepperd, Sasha; Scott, Anthony; Parmelli, Elena; Beyer, Fiona R

    2014-01-01

    Background There is considerable interest in the effectiveness of financial incentives in the delivery of health care. Incentives may be used in an attempt to increase the use of evidence-based treatments among healthcare professionals or to stimulate health professionals to change their clinical behaviour with respect to preventive, diagnostic and treatment decisions, or both. Financial incentives are an extrinsic source of motivation and exist when an individual can expect a monetary transfer which is made conditional on acting in a particular way. Since there are numerous reviews performed within the healthcare area describing the effects of various types of financial incentives, it is important to summarise the effectiveness of these in an overview to discern which are most effective in changing health professionals’ behaviour and patient outcomes. Objectives To conduct an overview of systematic reviews that evaluates the impact of financial incentives on healthcare professional behaviour and patient outcomes. Methods We searched the Cochrane Database of Systematic Reviews (CDSR) (The Cochrane Library); Database of Abstracts of Reviews of Effectiveness (DARE); TRIP; MEDLINE; EMBASE; Science Citation Index; Social Science Citation Index; NHS EED; HEED; EconLit; and Program in Policy Decision-Making (PPd) (from their inception dates up to January 2010). We searched the reference lists of all included reviews and carried out a citation search of those papers which cited studies included in the review. We included both Cochrane and non-Cochrane reviews of randomised controlled trials (RCTs), controlled clinical trials (CCTs), interrupted time series (ITSs) and controlled before and after studies (CBAs) that evaluated the effects of financial incentives on professional practice and patient outcomes, and that reported numerical results of the included individual studies. Two review authors independently extracted data and assessed the methodological quality of each

  6. An overview of reviews evaluating the effectiveness of financial incentives in changing healthcare professional behaviours and patient outcomes.

    Science.gov (United States)

    Flodgren, Gerd; Eccles, Martin P; Shepperd, Sasha; Scott, Anthony; Parmelli, Elena; Beyer, Fiona R

    2011-07-06

    There is considerable interest in the effectiveness of financial incentives in the delivery of health care. Incentives may be used in an attempt to increase the use of evidence-based treatments among healthcare professionals or to stimulate health professionals to change their clinical behaviour with respect to preventive, diagnostic and treatment decisions, or both. Financial incentives are an extrinsic source of motivation and exist when an individual can expect a monetary transfer which is made conditional on acting in a particular way. Since there are numerous reviews performed within the healthcare area describing the effects of various types of financial incentives, it is important to summarise the effectiveness of these in an overview to discern which are most effective in changing health professionals' behaviour and patient outcomes. To conduct an overview of systematic reviews that evaluates the impact of financial incentives on healthcare professional behaviour and patient outcomes. We searched the Cochrane Database of Systematic Reviews (CDSR) (The Cochrane Library); Database of Abstracts of Reviews of Effectiveness (DARE); TRIP; MEDLINE; EMBASE; Science Citation Index; Social Science Citation Index; NHS EED; HEED; EconLit; and Program in Policy Decision-Making (PPd) (from their inception dates up to January 2010). We searched the reference lists of all included reviews and carried out a citation search of those papers which cited studies included in the review. We included both Cochrane and non-Cochrane reviews of randomised controlled trials (RCTs), controlled clinical trials (CCTs), interrupted time series (ITSs) and controlled before and after studies (CBAs) that evaluated the effects of financial incentives on professional practice and patient outcomes, and that reported numerical results of the included individual studies. Two review authors independently extracted data and assessed the methodological quality of each review according to the AMSTAR

  7. ANALIZA INTERACȚIUNII INDICATORILOR MONETARI ȘI DE CREDIT ÎN ECONOMIA REPUBLICII MOLDOVA

    Directory of Open Access Journals (Sweden)

    Tudor SULA

    2017-08-01

    objectives of the monetary policy, new international approaches and practices are needed, including those recommended by international financial organizations to improve prudential supervision. The National Bank of Moldova is expected to work more efficiently with the Government of the Republic of Moldova to provide sufficient investment resources to meet the needs of the real sector of the economy.

  8. Da obiettivi monetari a obiettivi di cambio. (From monetary to exchange rate targets

    Directory of Open Access Journals (Sweden)

    M.J. ARTIS

    2013-12-01

    Full Text Available Questo documento è stato presentato in occasione del quarto Seminario Internazionale sui diritti economici e monetaria dell'Unione Europea, tenutosi a Copenaghen nel marzo del 1981. L'autore prende le questioni teoriche nell'ambito dell'analisi sia statica che dinamica. Egli sostiene, sulla base del criterio di minimizzare la varianza dei prezzi intorno loro valore nominale, che un obiettivo di cambio supera un obiettivo monetario nella maggior parte dei tipi immaginabili di disturbi in un'analisi statica.This paper was presented at the Fourth International Seminar on European Economic and Monetary Union, held in Copenhagen in March of 1981. The author takes up the theoretical issues in the framework of both static and dynamic analysis. He argues, on the basis of the criterion of minimising the variance of prices around their target value, that an exchange-rate target outperforms a monetary target under most conceivable types of disturbances in a static analysis. JEL: E24, F36

  9. Unpleasant odors increase aversion to monetary losses.

    Science.gov (United States)

    Stancak, Andrej; Xie, Yuxin; Fallon, Nicholas; Bulsing, Patricia; Giesbrecht, Timo; Thomas, Anna; Pantelous, Athanasios A

    2015-04-01

    Loss aversion is the tendency to prefer avoiding losses over acquiring gains of equal nominal values. Unpleasant odors not only influence affective state but have also been shown to activate brain regions similar to those mediating loss aversion. Therefore, we hypothesized a stronger loss aversion in a monetary gamble task if gambles were associated with an unpleasant as opposed to pleasant odor. In thirty human subjects, unpleasant (methylmercaptan), pleasant (jasmine), and neutral (clean air) odors were presented for 4 s. At the same time, uncertain gambles offering an equal chance of gain or loss of a variable amount of money, or a prospect of an assured win were displayed. One hundred different gambles were presented three times, each time paired with a different odor. Loss aversion, risk aversion, and logit sensitivity were evaluated using non-linear fitting of individual gamble decisions. Loss aversion was larger when prospects were displayed in the presence of methylmercaptan compared to jasmine or clean air. Moreover, individual differences in changes in loss aversion to the unpleasant as compared to pleasant odor correlated with odor pleasantness but not with odor intensity. Skin conductance responses to losses during the outcome period were larger when gambles were associated with methylmercaptan compared to jasmine. Increased loss aversion while perceiving an unpleasant odor suggests a dynamic adjustment of loss aversion toward greater sensitivity to losses. Given that odors are biological signals of hazards, such adjustment of loss aversion may have adaptive value in situations entailing threat or danger. Copyright © 2015 Elsevier B.V. All rights reserved.

  10. THE INFLUENCES OF INFLATION ON THE MONETARY POLICY INTEREST

    Directory of Open Access Journals (Sweden)

    Popa Coralia Emilia

    2012-12-01

    Full Text Available In the context of sovereign debt crisis in Europe, a crisis entirely felt also in the direct relation between credit institutions, the National Bank of Romania (NBR adopted a monetary policy strategy meant to determine the reinforcement of its image, by initiating in the autumn of 2011 a new series of reduction of the monetary policy interest rate and implicitly the appropriate resizing of liquidity conditions. By increasing the role of liquidity adjustment, the European Central Bank (ECB succeeded to determine in the money market the decrease of interbank rate interests under the interest rate level of monetary policy. The direct inflation targeting strategy used by the European Central Bank in applying its monetary policy has the first criterion of implementation the expression of inflation target in terms of „headline inflation” (consumer price index - CPI given that the economic market in Romania is familiar with this indicator. Also, the main criterion considered by the investment segment of the market to achieve capital infusions in economic transactions is represented by the consumer price index, this one ensuring the necessary transparency related to the effects of inflation phenomenon. A strong argument supporting the use of consumer price index in monetary policy is represented by its upward flexibility towards the limited effectiveness of monetary aggregates in sizing inflationary anticipations. The downward slope of inflation phenomenon, in whose depreciation the evolution of consumer price index, whose positive trend surprised the European Central Bank, played a significant role, determined adjustments in the monetary policy strategy of the National Bank of Romania and at the same time the achievement of the inflationary target proposed with a direct effect on the monetary policy interest rate. The same measure to reduce the key interest rate is outlined in the monetary policy of the European Central Bank and it is

  11. Uncertainty of Monetary Valued Ecosystem Services – Value Transfer Functions for Global Mapping

    Science.gov (United States)

    Schmidt, Stefan; Manceur, Ameur M.; Seppelt, Ralf

    2016-01-01

    Growing demand of resources increases pressure on ecosystem services (ES) and biodiversity. Monetary valuation of ES is frequently seen as a decision-support tool by providing explicit values for unconsidered, non-market goods and services. Here we present global value transfer functions by using a meta-analytic framework for the synthesis of 194 case studies capturing 839 monetary values of ES. For 12 ES the variance of monetary values could be explained with a subset of 93 study- and site-specific variables by utilizing boosted regression trees. This provides the first global quantification of uncertainties and transferability of monetary valuations. Models explain from 18% (water provision) to 44% (food provision) of variance and provide statistically reliable extrapolations for 70% (water provision) to 91% (food provision) of the terrestrial earth surface. Although the application of different valuation methods is a source of uncertainty, we found evidence that assuming homogeneity of ecosystems is a major error in value transfer function models. Food provision is positively correlated with better life domains and variables indicating positive conditions for human well-being. Water provision and recreation service show that weak ownerships affect valuation of other common goods negatively (e.g. non-privately owned forests). Furthermore, we found support for the shifting baseline hypothesis in valuing climate regulation. Ecological conditions and societal vulnerability determine valuation of extreme event prevention. Valuation of habitat services is negatively correlated with indicators characterizing less favorable areas. Our analysis represents a stepping stone to establish a standardized integration of and reporting on uncertainties for reliable and valid benefit transfer as an important component for decision support. PMID:26938447

  12. Uncertainty of Monetary Valued Ecosystem Services - Value Transfer Functions for Global Mapping.

    Directory of Open Access Journals (Sweden)

    Stefan Schmidt

    Full Text Available Growing demand of resources increases pressure on ecosystem services (ES and biodiversity. Monetary valuation of ES is frequently seen as a decision-support tool by providing explicit values for unconsidered, non-market goods and services. Here we present global value transfer functions by using a meta-analytic framework for the synthesis of 194 case studies capturing 839 monetary values of ES. For 12 ES the variance of monetary values could be explained with a subset of 93 study- and site-specific variables by utilizing boosted regression trees. This provides the first global quantification of uncertainties and transferability of monetary valuations. Models explain from 18% (water provision to 44% (food provision of variance and provide statistically reliable extrapolations for 70% (water provision to 91% (food provision of the terrestrial earth surface. Although the application of different valuation methods is a source of uncertainty, we found evidence that assuming homogeneity of ecosystems is a major error in value transfer function models. Food provision is positively correlated with better life domains and variables indicating positive conditions for human well-being. Water provision and recreation service show that weak ownerships affect valuation of other common goods negatively (e.g. non-privately owned forests. Furthermore, we found support for the shifting baseline hypothesis in valuing climate regulation. Ecological conditions and societal vulnerability determine valuation of extreme event prevention. Valuation of habitat services is negatively correlated with indicators characterizing less favorable areas. Our analysis represents a stepping stone to establish a standardized integration of and reporting on uncertainties for reliable and valid benefit transfer as an important component for decision support.

  13. L'avvenire del sistema monetario mondiale. (The future of the international monetary system

    Directory of Open Access Journals (Sweden)

    R. TRIFFIN

    2013-12-01

    Full Text Available Il lavoro sostiene che sulla fantastica esplosione di liquidità internazionale fornita al mercato, negli ultimi anni né quelli stabili , né i tassi di cambio fluttuanti  possono funzionare in modo soddisfacente in assenza di qualsiasi controllo internazionale , e vincoli da parte delle autorità monetarie e del sistema bancario commerciale,  . L'autore si concentra sugli aspetti inflazionistici di questo fenomeno , trascurando i problemi della recessione e la disoccupazione ..The work argues that neither stable, nor floating exchange rates can function satisfactorily in the absence of any international control, and restraints, over the fantastic explosion of international liquidity provided to the market, in recent years, by the monetary authorities and the commercial banking system. The author focuses on the inflationary aspects of this phenomenon, neglecting the problems of recession and unemployment. JEL: E42

  14. Incentive Contracts and Cost Growth

    Science.gov (United States)

    1983-10-31

    Jack Livingston. Also see draft of DOI acd NASA Incentive Contracting Guide, Jan. 467.) Industry might not set up an infrastructure to implement...cmiuurcial ve tures is fusided through DOD business. I Can an Wicentive based on profit maximization function effectively in the above- environment? It is

  15. Incentive Ratios of Fisher Markets

    DEFF Research Database (Denmark)

    Chen, Ning; Deng, Xuaitue; Zhang, Hongyang

    2012-01-01

    by misreporting their private information, we show that the percentage of improvement by a unilateral strategic play, called incentive ratio, is rather limited—it is less than 2 for linear markets and at most $e^{1/e}\\thickapprox 1.445$ for Cobb-Douglas markets. We further prove that both ratios are tight....

  16. Incentives in Supply Function Equilibrium

    DEFF Research Database (Denmark)

    Vetter, Henrik

    2014-01-01

    The author analyses delegation in homogenous duopoly under the assumption that the firm-managers compete in supply functions. In supply function equilibrium, managers’ decisions are strategic complements. This reverses earlier findings in that the author finds that owners give managers incentives...

  17. Incentives in Supply Function Equilibrium

    DEFF Research Database (Denmark)

    Vetter, Henrik

    2015-01-01

    The author analyses delegation in homogenous duopoly under the assumption that firm-managers compete in supply functions. He reverses earlier findings in that owners give managers incentives to act in an accommodating way. That is, optimal delegation reduces per-firm output and increases profits...

  18. [Medical doctors driving technological innovation: questions about and innovation management approaches to incentive structures for lead users].

    Science.gov (United States)

    Bohnet-Joschko, Sabine; Kientzler, Fionn

    2010-01-01

    Management science defines user-generated innovations as open innovation and lead user innovation. The medical technology industry finds user-generated innovations profitable and even indispensable. Innovative medical doctors as lead users need medical technology innovations in order to improve patient care. Their motivation to innovate is mostly intrinsic. But innovations may also involve extrinsic motivators such as gain in reputation or monetary incentives. Medical doctors' innovative activities often take place in hospitals and are thus embedded into the hospital's organisational setting. Hospitals find it difficult to gain short-term profits from in-house generated innovations and sometimes hesitate to support them. Strategic investment in medical doctors' innovative activities may be profitable for hospitals in the long run if innovations provide first-mover competitive advantages. Industry co-operations with innovative medical doctors offer chances but also bear potential risks. Innovative ideas generated by expert users may result in even higher complexity of medical devices; this could cause mistakes when applied by less specialised users and thus affect patient safety. Innovations that yield benefits for patients, medical doctors, hospitals and the medical technology industry can be advanced by offering adequate support for knowledge transfer and co-operation models.

  19. An incentive-based architecture for social recommendations

    KAUST Repository

    Bhattacharjee, Rajat

    2009-01-01

    We present an incentive-based architecture for providing recommendations in a social network. We maintain a distinct reputation system for each individual and we rely on users to identify appropriate correlations and rate the items using a system-provided recommendation language. The key idea is to design an incentive structure and a ranking system such that any inaccuracy in the recommendations implies the existence of a profitable arbitrage opportunity, hence making the system resistant to malicious spam and presentation bias. We also show that, under mild assumptions, our architecture provides users with incentive to minimize the Kullback-Leibler divergence between the ratings and the actual item qualities, quickly driving the system to an equilibrium state with accurate recommendations. Copyright 2009 ACM.

  20. Monetary channels of social inclusion: a case study of basic income and the Caixa Econômica Federal in Brazil

    Directory of Open Access Journals (Sweden)

    Kurt Eberhart von Mettenheim

    2014-12-01

    Full Text Available This article reports evidence of new monetary channels for social inclusion involving basic income policies and the Caixa Econômica Federal, a Brazilian government savings bank. Since the Plano Real (Brazilian currency and the liberalization of banking in the 1990s, the realization of competitive advantages by the Caixa as social policy agent and the importance of citizenship cards differ from existing theories of bank change, financial inclusion and monetary policy. Multi-method research reveals the importance of 1 political theories of basic income, 2 conceptions of citizenship and social justice, and 3 a back to the future modernization of government banking. This provides alternatives to contemporary market-based banking theory, neo-liberal policies, private and non-governmental microfinance strategies, and theories in political economy about fiscal constraints to social policies. New monetary channels of change also suggest that zero sum theories about politics, monetary authority and social inclusion are amiss.

  1. Acute stress does not affect risky monetary decision-making

    Directory of Open Access Journals (Sweden)

    Peter Sokol-Hessner

    2016-12-01

    Full Text Available The ubiquitous and intense nature of stress responses necessitate that we understand how they affect decision-making. Despite a number of studies examining risky decision-making under stress, it is as yet unclear whether and in what way stress alters the underlying processes that shape our choices. This is in part because previous studies have not separated and quantified dissociable valuation and decision-making processes that can affect choices of risky options, including risk attitudes, loss aversion, and choice consistency, among others. Here, in a large, fully-crossed two-day within-subjects design, we examined how acute stress alters risky decision-making. On each day, 120 participants completed either the cold pressor test or a control manipulation with equal probability, followed by a risky decision-making task. Stress responses were assessed with salivary cortisol. We fit an econometric model to choices that dissociated risk attitudes, loss aversion, and choice consistency using hierarchical Bayesian techniques to both pool data and allow heterogeneity in decision-making. Acute stress was found to have no effect on risk attitudes, loss aversion, or choice consistency, though participants did become more loss averse and more consistent on the second day relative to the first. In the context of an inconsistent previous literature on risk and acute stress, our findings provide strong and specific evidence that acute stress does not affect risk attitudes, loss aversion, or consistency in risky monetary decision-making.

  2. Acute stress does not affect risky monetary decision-making.

    Science.gov (United States)

    Sokol-Hessner, Peter; Raio, Candace M; Gottesman, Sarah P; Lackovic, Sandra F; Phelps, Elizabeth A

    2016-12-01

    The ubiquitous and intense nature of stress responses necessitate that we understand how they affect decision-making. Despite a number of studies examining risky decision-making under stress, it is as yet unclear whether and in what way stress alters the underlying processes that shape our choices. This is in part because previous studies have not separated and quantified dissociable valuation and decision-making processes that can affect choices of risky options, including risk attitudes, loss aversion, and choice consistency, among others. Here, in a large, fully-crossed two-day within-subjects design, we examined how acute stress alters risky decision-making. On each day, 120 participants completed either the cold pressor test or a control manipulation with equal probability, followed by a risky decision-making task. Stress responses were assessed with salivary cortisol. We fit an econometric model to choices that dissociated risk attitudes, loss aversion, and choice consistency using hierarchical Bayesian techniques to both pool data and allow heterogeneity in decision-making. Acute stress was found to have no effect on risk attitudes, loss aversion, or choice consistency, though participants did become more loss averse and more consistent on the second day relative to the first. In the context of an inconsistent previous literature on risk and acute stress, our findings provide strong and specific evidence that acute stress does not affect risk attitudes, loss aversion, or consistency in risky monetary decision-making.

  3. 20 CFR 638.519 - Incentives system.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Incentives system. 638.519 Section 638.519... TITLE IV-B OF THE JOB TRAINING PARTNERSHIP ACT Center Operations § 638.519 Incentives system. The center operator shall establish and maintain its own incentives system for students in accordance with procedures...

  4. Incentive Systems for Education Personnel. Final Report.

    Science.gov (United States)

    Guttenberg, Richard

    Herein are discussed the question of what is an incentive; the use of incentives in industry; the current patterns of reward and punishment in the schools; policy implications of the patterns of reward and punishment currently found in the schools; from an historical view, the incentive systems that the schools have tried out in the past,…

  5. Merger incentives and the failing firm defense

    NARCIS (Netherlands)

    Bouckaert, J.M.C.; Kort, P.M.

    2014-01-01

    The merger incentives between profitable firms differ fundamentally from the incentives of a profitable firm to merge with a failing firm. We investigate these incentives under different modes of price competition and Cournot behavior. Our main finding is that firms strictly prefer exit of the

  6. 28 CFR 544.43 - Incentives.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Incentives. 544.43 Section 544.43... Mandatory English-as-a-Second Language Program (ESL) § 544.43 Incentives. The Warden or designee shall establish a system of incentives to encourage an inmate to meet the mandatory ESL program requirements. ...

  7. 12 CFR 708a.12 - Voting incentives.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Voting incentives. 708a.12 Section 708a.12... INSURED CREDIT UNIONS TO MUTUAL SAVINGS BANKS § 708a.12 Voting incentives. If a converting credit union offers an incentive to encourage members to participate in the vote, including a prize raffle, every...

  8. 7 CFR 3560.656 - Incentives offers.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Incentives offers. 3560.656 Section 3560.656... AGRICULTURE DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Housing Preservation § 3560.656 Incentives offers. (a....653(d), incentives to agree to the restrictive-use period in § 3560.662 if the following conditions...

  9. 28 CFR 544.72 - Incentives.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Incentives. 544.72 Section 544.72 Judicial Administration BUREAU OF PRISONS, DEPARTMENT OF JUSTICE INSTITUTIONAL MANAGEMENT EDUCATION Literacy Program § 544.72 Incentives. The Warden shall establish a system of incentives to encourage an...

  10. Start-up incentives the Netherlands

    NARCIS (Netherlands)

    Bekker, S.; van den Eijnden, J.

    2014-01-01

    Generally, there are three different types of start-up incentive for unemployed and inactive people in the Netherlands. The first is a set of incentives for potential entrepreneurs receiving Unemployment Benefits (UB) (Werloosheidwet - WW). Such incentives have existed since 2006 and were adjusted

  11. Earnings progression, human capital and incentives

    DEFF Research Database (Denmark)

    Frederiksen, Anders

    progression by investigating the effects of on-the-job human capital acquisition, explicit short-run incentives and career concern incentives on earnings progression. The model leads to predictions about the incentive structure and the progression in both cross-sectional and individual earnings which...

  12. Unintended consequences of incentive provision for behaviour change and maintenance around childbirth.

    Directory of Open Access Journals (Sweden)

    Gill Thomson

    Full Text Available Financial (positive or negative and non-financial incentives or rewards are increasingly used in attempts to influence health behaviours. While unintended consequences of incentive provision are discussed in the literature, evidence syntheses did not identify any primary research with the aim of investigating unintended consequences of incentive interventions for lifestyle behaviour change. Our objective was to investigate perceived positive and negative unintended consequences of incentive provision for a shortlist of seven promising incentive strategies for smoking cessation in pregnancy and breastfeeding. A multi-disciplinary, mixed-methods approach included involving two service-user mother and baby groups from disadvantaged areas with experience of the target behaviours as study co-investigators. Systematic reviews informed the shortlist of incentive strategies. Qualitative semi-structured interviews and a web-based survey of health professionals asked open questions on positive and negative consequences of incentives. The participants from three UK regions were a diverse sample with and without direct experience of incentive interventions: 88 pregnant women/recent mothers/partners/family members; 53 service providers; 24 experts/decision makers and interactive discussions with 63 conference attendees. Maternity and early years health professionals (n = 497 including doctors, midwives, health visitors, public health and related staff participated in the survey. Qualitative analysis identified ethical, political, cultural, social and psychological implications of incentive delivery at population and individual levels. Four key themes emerged: how incentives can address or create inequalities; enhance or diminish intrinsic motivation and wellbeing; have a positive or negative effect on relationships with others within personal networks or health providers; and can impact on health systems and resources by raising awareness and directing

  13. The Monetary Policy in the System of State Regulation of the Indian Economy

    Directory of Open Access Journals (Sweden)

    Natalia V. Galistcheva

    2015-01-01

    Full Text Available The main task of this research is the analysis of India's monetary policy and its place in the system of state regulation of the economy. The article highlights the main directions of the Indian monetary policy in 1990-2000s aiming to raise competitiveness of the Indian goods on the foreign markets as well as stimulating the inflow of foreign capital in necessary volumes into the national economy. The author focuses on the main instruments of the modern Indian monetary policy, pursued in line with providing the undervalued rupee, which include the manipulating of the bank rate and currency interventions, directed mainly at sterilization of excessive inflow of foreign currency to the country. The article also underlines all the advantages and costs of the monetary policy. One of its main advantages is stimulation of national production's exports and among costs there are difficulties of importing machines and equipment into the country, increase of inflation rate as a result of massive inflow of export revenue, difficulties at external debt's service. The author notes the gradual nature of introduction of current account rupee convertibility and reasons for delay in achieving its full convertibility. Among them there are rather high level of fiscal deficit of the consolidated budget, essential average annual level of inflation, problems of non-performed assets in the economy, high liquidity ratio for commercial banks. The article also presents statistical data on the present state of the Indian foreign exchange reserves as well as dynamics in nominal and real effective exchange rate of rupee in 2005/06 - 2013/14 fiscal year.

  14. Using a Mnemonic to Develop Effective Incentive Systems

    Science.gov (United States)

    Forbringer, Linda L.

    2007-01-01

    Special educators frequently provide consultation for parents and general education teachers who are struggling to manage student behavior. One intervention often discussed is the use of rewards to increase student motivation. While research has shown that well-designed incentive systems can provide an effective intervention, poorly designed…

  15. Impact of Monetary Policy and Fiscal Policy on Indonesian Stock Market

    Directory of Open Access Journals (Sweden)

    Rossanto Dwi HANDOYO

    2015-05-01

    Full Text Available This paper attempts to investigate the effect of fiscal and monetary policy on Indonesian Stock price as well as main sectors stock price such as agricultural, mining, manufacture, and financial sector indexes. We consider the world oil price as a foreign variable that will influence domestic economy as in regular small open economy model. In this paper, we employ the Monte Carlo algorithm to Near-SVAR models (If some of the VAR equations have regressors not included in the others. We find that there is a positive stock price response to monetary policy shock both aggregated and sectoral stock price. In term of interaction between fiscal policy shock and stock market, we find that all sectors respond negative relationship. From this empirical finding, fiscal policy crowd out private sector activity in market, thus, its effect will be impotent in economy. We also provide the evidence that not only both policies are able to influence the stock price individually, but also the interaction between monetary and fiscal policy is important in explaining stock market performance.

  16. The response of maize production in Kenya to economic incentives

    Directory of Open Access Journals (Sweden)

    Onono, P.A.,

    2013-06-01

    Full Text Available Agricultural development policy in Kenya has emphasised the use of incentives towards increased production and therefore self-sufficiency in maize which is a basic staple for most households. The channels used to provide incentives to maize farmers over the years include setting higher producer prices; subsidisation of inputs; provision of agricultural credit, research and extension services; construction and maintenance of roads, development of irrigation and water systems; legislative, institutional and macroeconomic reforms. Despite these efforts outputof maize has remained below domestic requirements in most years and the country continues to rely on imports to meet the deficits. Studies have assessed the responsiveness of maize to output price and reported inelastic responses and have recommended policies targeting non-price incentives to complement prices for the required increased production of maize. The studies, however, did not analyse the influence of the non-price incentives on the production of the crop. The findings of those studies are therefore deficient in explaining the relative importance of different non-price incentives and how they complement prices in influencing maize production in Kenya. This study investigated the response of maize production to both price and non-price incentives. The aim of this study was to ascertain the relative importance of non-price factors in influencing production of the crops as well as complementarity between price and non-price incentives. The findings show that maize production responds positively to its output price, development expenditures in agriculture, maize sales to marketing boards, growth in per capita GDP, liberalisation and governance reforms. However, maize production responds negatively to fertiliser price and unfavourable weather conditions. The response of maize output to its price is lower with rising inflation and grain market liberalisation.

  17. Analysis of federal incentives used to stimulate energy consumption

    Energy Technology Data Exchange (ETDEWEB)

    Cole, R.J.; Cone, B.W.; Emery, J.C.; Huelshoff, M.; Lenerz, D.E.; Marcus, A.; Morris, F.A.; Sheppard, W.J.; Sommers, P.

    1981-08-01

    The purpose of the analysis is to identify and quantify Federal incentives that have increased the consumption of coal, oil, natural gas, and electricity. The introductory chapter is intended as a device for presenting the policy questions about the incentives that can be used to stimulate desired levels of energy development. In the theoretical chapter federal incentives were identified for the consumption of energy as Federal government actions whose major intent or result is to stimulate energy consumption. The stimulus comes through changing values of variables included in energy demand functions, thereby inducing energy consumers to move along the function in the direction of greater quantity of energy demanded, or through inducing a shift of the function to a position where more energy will be demanded at a given price. The demand variables fall into one of six categories: price of the energy form, price of complements, price of substitutes, preferences, income, and technology. The government can provide such incentives using six different policy instruments: taxation, disbursements, requirements, nontraditional services, traditional services, and market activity. The four major energy forms were examined. Six energy-consuming sectors were examined: residential, commercial, industrial, agricultural, transportation, and public. Two types of analyses of incentive actions are presented in this volume. The generic chapter focused on actions taken in 1978 across all energy forms. The subsequent chapters traced the patterns of incentive actions, energy form by energy form, from the beginning of the 20th century, to the present. The summary chapter includes the results of the previous chapters presented by energy form, incentive type, and user group. Finally, the implications of these results for solar policy are presented in the last chapter. (MCW)

  18. What incentives influence employers to engage in workplace health interventions?

    Directory of Open Access Journals (Sweden)

    Camilla Martinsson

    2016-08-01

    Full Text Available Abstract Background To achieve a sustainable working life it is important to know more about what could encourage employers to increase the use of preventive and health promotive interventions. The objective of the study is to explore and describe the employer perspective regarding what incentives influence their use of preventive and health promotive workplace interventions. Method Semi-structured focus group interviews were carried out with 20 representatives from 19 employers across Sweden. The economic sectors represented were municipalities, government agencies, defence, educational, research, and development institutions, health care, manufacturing, agriculture and commercial services. The interviews were transcribed verbatim and the data were analysed using latent content analysis. Results Various incentives were identified in the analysis, namely: “law and provisions”, “consequences for the workplace”, “knowledge of worker health and workplace health interventions”, “characteristics of the intervention”, “communication and collaboration with the provider”. The incentives seemed to influence the decision-making in parallel with each other and were not only related to positive incentives for engaging in workplace health interventions, but also to disincentives. Conclusions This study suggests that the decision to engage in workplace health interventions was influenced by several incentives. There are those incentives that lead to a desire to engage in a workplace health intervention, others pertain to aspects more related to the intervention use, such as the characteristics of the employer, the provider and the intervention. It is important to take all incentives into consideration when trying to understand the decision-making process for workplace health interventions and to bridge the gap between what is produced through research and what is used in practice.

  19. Implementation of Client Incentives within a Recovery Navigation Program.

    Science.gov (United States)

    Brolin, Mary; Torres, Maria; Hodgkin, Dominic; Horgan, Constance; Lee, Margaret; Merrick, Elizabeth; Ritter, Grant; Panas, Lee; DeMarco, Natasha; Hopwood, Jonna; Gewirtz, Andrea; Straus, John; Harrington, Janice; Lane, Nancy

    2017-01-01

    Multiple detoxification admissions among clients with substance use disorders (SUD) are costly to the health care system. This study explored the impact on behavior and cost outcomes of recovery support navigator (RSN) services delivered with and without a contingent incentive intervention. New intakes at four detoxification programs were offered RSN-only (N=1116) or RSN plus incentive (RSN+I; N=1551) services. The study used a group-level cross-over design with the intervention in place at each clinic reversed halfway through the enrollment period. RSN+I clients could earn up to $240 in gift cards for accomplishing 12 different recovery-oriented target behaviors. All eligible clients entering the detoxification programs were included in the analyses, regardless of actual service use. Among RSN+I clients, 35.5% accessed any RSN services compared to 22.3% in the RSN-only group (p<.01). Of RSN+I clients, 19% earned one, 12% earned two and 18% earned three or more incentives; 51% did not earn any incentives. The majority of incentives earned were for meeting with the RSN either during or after detoxification. Adjusted average monthly health care costs among clients in the RSN-only and RSN+I groups increased at a similar rate over 12 months post-detoxification. Possible explanations for limited uptake of the incentive program discussed include features of the incentive program itself, navigator-client communication, organizational barriers and navigator bias. The findings provide lessons to consider for future design and implementation of multi-target contingency management interventions in real-world settings. Copyright © 2016 Elsevier Inc. All rights reserved.

  20. Uncertainties, monetary policy and financial stability: challenges on inflation targeting

    Directory of Open Access Journals (Sweden)

    Gabriel Caldas Montes

    2010-03-01

    Full Text Available This work aims at presenting the challenges that inflation targeting central banks may face since uncertainties represent a harmful element for the effectiveness of monetary policy, and since financial instabilities may disturb the transmission mechanisms - in particular, the expectation channel - and thus the economic stability. Financial stability must not be considered as a simple goal of monetary policy, but a precondition for central banks operate their policies and reach the goals of inflation and output stability. The work identifies different sources of uncertainties that surround central banks' decisions; and approaches the role that inflation targeting central banks should play according to some basic principles that can serve as useful guides for central banks to help them achieve successful outcomes in their conduct of monetary policy.

  1. Reconsidering Money: Monetary Exchange with Additive Transaction Costs

    DEFF Research Database (Denmark)

    Schröder, Philipp

    2001-01-01

    Under the assumption of purely additive transaction costs in exchange, the literature on money has a standard example of direct exchange dominating indirect (monetary) exchange. From here it is frequently concluded that subadditive costs (e.g. search costs) must be examined in order to explain...... money. In contrast, this paper presents an additive transaction costs model in which the mere absence of double coincidences of wants suffices to motivate monetary exchange. Furthermore it is found that not all commodity moneys, that are collectively desirable, qualify for the core, but that all fiat...... moneys, that are collectively desirable, will be elements of the core. (JEL: D70, E40)...

  2. The Monetary Policy and the Real Estate Market

    Directory of Open Access Journals (Sweden)

    Vasile DEDU

    2011-12-01

    Full Text Available In this paper, we intend to study the connection between monetary policy measures and the boom and bust cycles of the real estate markets in different countries. Many recent articles consider that central banks had an important contribution in triggering the global crisis and the collapse of the real estate markets during 2007-2009 due to the low monetary policy rates and the inadequate regulation and supervision of the banking system. We consider the generalization of this idea is an error, as certain central banks like the National Bank of Romania (NBR adopted prudent policies in the pre-crisis period.

  3. College Diversity and Investment Incentives

    OpenAIRE

    Gall, Thomas; LEGROS, Patrick; Newman, Andrew

    2015-01-01

    This paper studies the aggregate economic effects of diversity policies such as affirmative action in college admission. If agents are constrained in the side payments they can make, the free market allocation displays excessive segregation relative to the first-best. Affirmative action policies can restore diversity within colleges but also affect incentives to invest in pre-college scholastic achievement. Affirmative action policies that are achievement-based can increase aggregate investme...

  4. Performance Measurement and Incentive Intensity

    OpenAIRE

    Bayo-Moriones, Alberto; Galdon-Sanchez, Jose Enrique; Martinez-de-Morentin, Sara

    2015-01-01

    This study addresses the factors that determine the intensity of pay for performance schemes. The results indicate that the use of individual and group incentives boost intensity, whereas plant or firm pay for performance do not seem to affect the variable of interest. In addition, the adoption of measures of results, such as productivity or quality, has a significant positive effect on intensity. On the contrary, measures of human resource management outcomes, subjective measures and financi...

  5. Incumbent's Incentive under Network Externalities

    OpenAIRE

    Kim, Jaehong

    2001-01-01

    This paper shows that an incumbent monopolist's incentive confronting a new entrant depends on the degree of product differentiation and the strength of network externality. If products are homogeneous, the incumbent never wants to invite entry regardless of the degree of network externality. On the other hand, if products are differentiated, duopoly profit is higher than the monopoly profit when products are more differentiated and/or the network externality is weak. Conversely, the incumben...

  6. Risk Sharing under Incentive Constraints.

    OpenAIRE

    Wagner, W.B.

    2002-01-01

    In addressing the matter, this thesis covers issues such as the welfare gains from international risk sharing, the impact of international risk sharing on national economic policies and production efficiency, the welfare effects of international risk sharing in the presence of tax competition, and risk sharing among entrepreneurs that face financing constraints. The thesis outlines the implications of incentive constraints for the efficiency of the actual extent and pattern of risk sharing am...

  7. Implementation of state solar incentives: a preliminary assessment

    Energy Technology Data Exchange (ETDEWEB)

    Ashworth, J.; Green, B.; Pollock, P.; Odland, R.; Saltonstall, R.; Perelman, L.J.

    1979-01-01

    This paper reports the findings of a six-month pilot project designed to gather, analyze, and disseminate information on the operation of state incentives for solar energy. The primary purpose of this report is to provide timely and practical information on the lessons learned from and the problems encountered to date in state incentive programs for solar energy diffusion, adoption, and commercialization. The secondary intent of this SERI program is to identify those research areas within the broad spectrum of implementation experience which require more-extensive future examination to improve the effectiveness of state solar energy incentive programs. The focus of this study is the implementation of official state solar energy incentives programs. Questions of incentive design and program effectiveness are addressed in certain portions of the text, but the bulk of the research effort is directed toward examining how laws and legislative mandates have been transformed into rules, regulations, eligibility criteria, standards, comprehensive land-use plans, grants, tax deductions, and demonstration projects. Most of the programs discussed will be official governmental actions, although the roles of private groups, advisory councils, and universities are addressed. Programs were examined in Arizona, California, Florida, Maine, Massachusetts, Minnesota, Montana, New Mexico, and Oregon. (MCW)

  8. Managing risk selection incentives in health sector reforms.

    Science.gov (United States)

    Puig-Junoy, J

    1999-01-01

    The object of the paper is to review theoretical and empirical contributions to the optimal management of risk selection incentives ('cream skimming') in health sector reforms. The trade-off between efficiency and risk selection is fostered in health sector reforms by the introduction of competitive mechanisms such as price competition or prospective payment systems. The effects of two main forms of competition in health sector reforms are observed when health insurance is mandatory: competition in the market for health insurance, and in the market for health services. Market and government failures contribute to the assessment of the different forms of risk selection employed by insurers and providers, as the effects of selection incentives on efficiency and their proposed remedies to reduce the impact of these perverse incentives. Two European (Netherlands and Spain) and two Latin American (Chile and Colombia) case studies of health sector reforms are examined in order to observe selection incentives, their effects on efficiency and costs in the health system, and regulation policies implemented in each country to mitigate incentives to 'cream skim' good risks.

  9. Conflicting Incentives Risk Analysis: A Case Study of the Normative Peer Review Process

    Directory of Open Access Journals (Sweden)

    Gaute Wangen

    2015-07-01

    Full Text Available This paper presents an approach to conduct risk assessments of complex incentive systems, using a case study of the normative Peer Review Process (PRP. This research centers on appliances and adaptations of the Conflicting Incentives Risk Analysis (CIRA. First as an approach to Root Cause Analysis of a known incident, and then for a full assessment of the incentives in the PRP together with possible risk treatments. CIRA uses an alternative notion of risk, where risk modeling is in terms of conflicting incentives between the risk owner and the stakeholders concerning the execution of actions. Compared to traditional risk assessment approaches, CIRA provides an insight into the underlying incentives behind a risk, and not just the technical vulnerability, likelihood and consequence. The main contributions of this work are an approach to obtain insight into incentives as root causes, and an approach to detecting and analyzing risks from incentives in the normative PRP. This paper also discusses risk treatments in terms of incentives to make the PRP more robust, together with a discussion of how to approach risk analysis of incentives.

  10. Incentives for reporting disease outbreaks.

    Directory of Open Access Journals (Sweden)

    Ramanan Laxminarayan

    Full Text Available BACKGROUND: Countries face conflicting incentives to report infectious disease outbreaks. Reports of outbreaks can prompt other countries to impose trade and travel restrictions, which has the potential to discourage reporting. However, reports can also bring medical assistance to contain the outbreak, including access to vaccines. METHODS: We compiled data on reports of meningococcal meningitis to the World Health Organization (WHO from 54 African countries between 1966 and 2002, a period is marked by two events: first, a large outbreak reported from many countries in 1987 associated with the Hajj that resulted in more stringent requirements for meningitis vaccination among pilgrims; and second, another large outbreak in Sub-Saharan Africa in 1996 that led to a new international mechanism to supply vaccines to countries reporting a meningitis outbreak. We used fixed-effects regression modeling to statistically estimate the effect of external forcing events on the number of countries reporting cases of meningitis to WHO. FINDINGS: We find that the Hajj vaccination requirements started in 1988 were associated with reduced reporting, especially among countries with relatively fewer cases reported between 1966 and 1979. After the vaccine provision mechanism was in place in 1996, reporting among countries that had previously not reported meningitis outbreaks increased. INTERPRETATION: These results indicate that countries may respond to changing incentives to report outbreaks when they can do so. In the long term, these incentives are likely to be more important than surveillance assistance in prompt reporting of outbreaks.

  11. Reforestation tax incentives under the American jobs creation act of 2004

    Science.gov (United States)

    Thomas J. Straka; John L. Greene

    2007-01-01

    The American jobs creation act of 2004 made significant changes in the reforestation tax incentives available to private forest owners. Owners can now deduct outright reforestation costs up to $10,000 per year for each qualifying timber property and amortize any additional amount over 8 tax years. to assess the financial benefit the new incentives provide to forest...

  12. A review of case studies evaluating economic incentives to promote occupational safety and health

    NARCIS (Netherlands)

    Elsler, D.; Treutlein, D.; Rydlewska, I.; Frusteri, L.; Krüger, H.; Veerman, T.; Eeckelaert, L.; Roskams, N.; Broek, K. van den; Taylor, T.N.

    2010-01-01

    Objectives: In many European countries, external economic incentives are discussed as a policy instrument to promote occupational safety and health (OSH) in enterprises. This narrative case study review aims to support policy-makers in organizations providing such incentives by supplying information

  13. 75 FR 44313 - Medicare and Medicaid Programs; Electronic Health Record Incentive Program

    Science.gov (United States)

    2010-07-28

    ... (certified EHR technology) CAH Critical Access Hospital CAHPS Consumer Assessment of Healthcare Providers and... Technology 2. Incentive Payments for Hospitals a. Definition of Eligible Hospital for Medicare b. Incentive... Technology b. Payment Methodology for Eligible Hospitals c. Alternative and Optional Early State...

  14. Referral service and customer incentive in online retail supply Chain

    Directory of Open Access Journals (Sweden)

    Y.G. Chen

    2014-04-01

    Full Text Available This paper studies an online retail supply chain that includes one referral infomediary and one retailer, in which the infomediary provides demand referral service to retailers and incentive rebates to customers. A linear dual-channel demand with the effect of customer incentive and horizontal service cooperation model was established, and then the optimal policies of infomediary and retailers in centralized and decentralized supply chain were analyzed. Moreover, a horizontal cooperation contract based on customer incentive cost as well as referral service price was developed to coordinate the supply chain. The results revealed that the contract contributed to profit optimization of online retail supply chain and effective win-win cooperation. Finally, we analyze the impact of rebate sensitivity and market share on these optimal policies and illustrate the results by some numerical examples.

  15. Contract-Based Incentive Mechanism for Mobile Crowdsourcing Networks

    Directory of Open Access Journals (Sweden)

    Nan Zhao

    2017-09-01

    Full Text Available Mobile crowdsourcing networks (MCNs are a promising method of data collecting and processing by leveraging the mobile devices’ sensing and computing capabilities. However, because of the selfish characteristics of the service provider (SP and mobile users (MUs, crowdsourcing participants only aim to maximize their own benefits. This paper investigates the incentive mechanism between the above two parties to create mutual benefits. By modeling MCNs as a labor market, a contract-based crowdsourcing model with moral hazard is proposed under the asymmetric information scenario. In order to incentivize the potential MUs to participate in crowdsourcing tasks, the optimization problem is formulated to maximize the SP’s utility by jointly examining the crowdsourcing participants’ risk preferences. The impact of crowdsourcing participants’ attitudes of risks on the incentive mechanism has been studied analytically and experimentally. Numerical simulation results demonstrate the effectiveness of the proposed contract design scheme for the crowdsourcing incentive.

  16. Alterations of monetary reward and punishment processing in chronic cannabis users: an FMRI study.

    Directory of Open Access Journals (Sweden)

    Björn Enzi

    Full Text Available Alterations in reward and punishment processing have been reported in adults suffering from long-term cannabis use. However, previous findings regarding the chronic effects of cannabis on reward and punishment processing have been inconsistent. In the present study, we used functional magnetic resonance imaging (fMRI to reveal the neural correlates of reward and punishment processing in long-term cannabis users (n = 15 and in healthy control subjects (n = 15 with no history of drug abuse. For this purpose, we used the well-established Monetary Incentive Delay (MID task, a reliable experimental paradigm that allows the differentiation between anticipatory and consummatory aspects of reward and punishment processing. Regarding the gain anticipation period, no significant group differences were observed. In the left caudate and the left inferior frontal gyrus, cannabis users were - in contrast to healthy controls - not able to differentiate between the conditions feedback of reward and control. In addition, cannabis users showed stronger activations in the left caudate and the bilateral inferior frontal gyrus following feedback of no punishment as compared to healthy controls. We interpreted these deficits in dorsal striatal functioning as altered stimulus-reward or action-contingent learning in cannabis users. In addition, the enhanced lateral prefrontal activation in cannabis users that is related to non-punishing feedback may reflect a deficit in emotion regulation or cognitive reappraisal in these subjects.

  17. Alterations of monetary reward and punishment processing in chronic cannabis users: an FMRI study.

    Science.gov (United States)

    Enzi, Björn; Lissek, Silke; Edel, Marc-Andreas; Tegenthoff, Martin; Nicolas, Volkmar; Scherbaum, Norbert; Juckel, Georg; Roser, Patrik

    2015-01-01

    Alterations in reward and punishment processing have been reported in adults suffering from long-term cannabis use. However, previous findings regarding the chronic effects of cannabis on reward and punishment processing have been inconsistent. In the present study, we used functional magnetic resonance imaging (fMRI) to reveal the neural correlates of reward and punishment processing in long-term cannabis users (n = 15) and in healthy control subjects (n = 15) with no history of drug abuse. For this purpose, we used the well-established Monetary Incentive Delay (MID) task, a reliable experimental paradigm that allows the differentiation between anticipatory and consummatory aspects of reward and punishment processing. Regarding the gain anticipation period, no significant group differences were observed. In the left caudate and the left inferior frontal gyrus, cannabis users were - in contrast to healthy controls - not able to differentiate between the conditions feedback of reward and control. In addition, cannabis users showed stronger activations in the left caudate and the bilateral inferior frontal gyrus following feedback of no punishment as compared to healthy controls. We interpreted these deficits in dorsal striatal functioning as altered stimulus-reward or action-contingent learning in cannabis users. In addition, the enhanced lateral prefrontal activation in cannabis users that is related to non-punishing feedback may reflect a deficit in emotion regulation or cognitive reappraisal in these subjects.

  18. MONETARY POLICY IN A SMALL OPEN ECONOMY: THE CASE OF MALAYSIA

    National Research Council Canada - National Science Library

    UMEZAKI, So

    2007-01-01

    .... Specifically, we ask how the Central Bank of Malaysia, Bank Negara Malaysia (BNM), has structured its monetary policy regime, and how it has conducted monetary and exchange rate policy under the regime...

  19. Monetary Policy Transmission Mechanism in Romania Over the Period 2001 to 2012: A Bvar Analysis

    National Research Council Canada - National Science Library

    Cristi Spulbăr; Mihai Niţoi

    2013-01-01

    In this study we intend to highlight the monetary transmission mechanism and how the main economic and monetary variables react to various shocks in Romania over the period 2001 to 2012 using a BVAR...

  20. La struttura dei mercati monetari. (The structure of money markets

    Directory of Open Access Journals (Sweden)

    J.S.G. WILSON

    2014-07-01

    Full Text Available The article surveys the main characteristics of money markets. It defines a money market as a center in which financial institutions congregate for the purpose of dealing in monetary assets. The author stresses the variety of organisational forms as well as the common elements of these markets.JEL: E40, E44, G10, G20

  1. Intelligence moderates neural responses to monetary reward and punishment.

    Science.gov (United States)

    Hawes, Daniel R; DeYoung, Colin G; Gray, Jeremy R; Rustichini, Aldo

    2014-05-01

    The relations between intelligence (IQ) and neural responses to monetary gains and losses were investigated in a simple decision task. In 94 healthy adults, typical responses of striatal blood oxygen level-dependent (BOLD) signal after monetary reward and punishment were weaker for subjects with higher IQ. IQ-moderated differential responses to gains and losses were also found for regions in the medial prefrontal cortex, posterior cingulate cortex, and left inferior frontal cortex. These regions have previously been identified with the subjective utility of monetary outcomes. Analysis of subjects' behavior revealed a correlation between IQ and the extent to which choices were related to experienced decision outcomes in preceding trials. Specifically, higher IQ predicted behavior to be more strongly correlated with an extended period of previously experienced decision outcomes, whereas lower IQ predicted behavior to be correlated exclusively to the most recent decision outcomes. We link these behavioral and imaging findings to a theoretical model capable of describing a role for intelligence during the evaluation of rewards generated by unknown probabilistic processes. Our results demonstrate neural differences in how people of different intelligence respond to experienced monetary rewards and punishments. Our theoretical discussion offers a functional description for how these individual differences may be linked to choice behavior. Together, our results and model support the hypothesis that observed correlations between intelligence and preferences may be rooted in the way decision outcomes are experienced ex post, rather than deriving exclusively from how choices are evaluated ex ante.

  2. Monetary policy and economic development: lessons from the ...

    African Journals Online (AJOL)

    This paper examines the impact of monetary policy instruments on the economic development in Nigeria during the period 1980-2006.With the aid of the t-ratio, the study revealed that only two out of the six selected explanatory variables exert a significant impact on the level of economic development in Nigeria between the ...

  3. Why Is Monetary Integration not Achievable in the ECOWAS? A ...

    African Journals Online (AJOL)

    The ECOWAS Monetary Cooperation Progamme (EMCP) was designed to facilitate regional trade through improvement in the ECOWAS multilateral payments system, the harmonization of economic policies and evolvement of common institutional arrangements. However, the EMCP, adopted in Abuja in 1987, has not ...

  4. Evaluation of post harvest monetary losses of tomatoes ...

    African Journals Online (AJOL)

    Evaluation of post harvest monetary losses of tomatoes (Lycopersicon esculentum Mill) in south eastern Nigeria. MO Ofor, GN Ben-Chendo. Abstract. No Abstract. International Journal of Tropical Agriculture and Food Systems Vol. 1 (4) 2007: pp. 390-393. Full Text: EMAIL FULL TEXT EMAIL FULL TEXT · DOWNLOAD FULL ...

  5. Monetary Policy and the Taylor Principle in Open Economies

    NARCIS (Netherlands)

    Linnemann, L.; Schabert, A.

    2006-01-01

    Nowadays, central banks mostly conduct monetary policy by setting nominal interest rates. A widely held view is that central banks can stabilize inflation if they follow the Taylor principle, which requires raising the nominal interest rate more than one-for-one in response to higher inflation. Is

  6. EMU, Monetary Policy Interactions and Exchange Rate Stability

    NARCIS (Netherlands)

    P.A.D. Cavelaars

    2003-01-01

    textabstractThis memorandum discusses the possible impact of a monetary union in Europe on transatlantic exchange rate stability. EMU leads to the elimination of coordination failures within the euro area. Whether this translates into more stable exchange rates, depends on the origin of the shock.

  7. Monetary transmission and the financial sector in the Czech Republic

    Czech Academy of Sciences Publication Activity Database

    Havránek, T.; Horváth, R.; Matějů, Jakub

    2012-01-01

    Roč. 45, č. 3 (2012), s. 135-155 ISSN 1573-9414 R&D Projects: GA MŠk(CZ) SVV 265801/2012 Institutional support: PRVOUK-P23 Keywords : transmission mechanism * monetary policy * Czech Republic Subject RIV: AH - Economics

  8. 77 FR 72915 - Civil Monetary Penalties; Adjustment for Inflation

    Science.gov (United States)

    2012-12-07

    ... Office of the Secretary 15 CFR Part 6 RIN 0605-AA31 Civil Monetary Penalties; Adjustment for Inflation... Commerce (the Department). The Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the... penalties (CMP) for inflation no later than October 23, 1996, and requires agencies to make adjustments at...

  9. 78 FR 5760 - Civil Monetary Penalty Inflation Adjustment

    Science.gov (United States)

    2013-01-28

    ... Department of the Army, Corps of Engineers 33 CFR Part 326 RIN 0710-AA66 Civil Monetary Penalty Inflation... Clean Water Act and the National Fishing Enhancement Act to account for inflation. The adjustment of civil penalties to account for inflation is required by the Federal Civil Penalties Inflation Adjustment...

  10. 76 FR 74720 - Inflation Adjustment of Civil Monetary Penalties; Correction

    Science.gov (United States)

    2011-12-01

    ... 46 CFR Part 506 RIN 3072-AC36 Inflation Adjustment of Civil Monetary Penalties; Correction AGENCY..., 2009 (74 FR 38114). The rule adjusts for inflation the maximum amount of each statutory civil penalty... Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of...

  11. 78 FR 44419 - Civil Monetary Penalties Inflation Adjustments

    Science.gov (United States)

    2013-07-24

    ... Monetary Penalties Inflation Adjustments AGENCY: Federal Election Commission. ACTION: Final rules. SUMMARY: In accordance with the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended, the Federal Election Commission is adopting final rules to apply inflation adjustments to certain civil...

  12. 78 FR 5722 - Civil Monetary Penalty Inflation Adjustment

    Science.gov (United States)

    2013-01-28

    ... Department of the Army, Corps of Engineers 33 CFR Part 326 RIN 0710-AA66 Civil Monetary Penalty Inflation... Clean Water Act and the National Fishing Enhancement Act to account for inflation. The adjustment of civil penalties to account for inflation is required by the Federal Civil Penalties Inflation Adjustment...

  13. 8 CFR 1280.53 - Civil monetary penalties inflation adjustment.

    Science.gov (United States)

    2010-01-01

    ... 8 Aliens and Nationality 1 2010-01-01 2010-01-01 false Civil monetary penalties inflation... penalties inflation adjustment. (a) In general. In accordance with the requirements of the Federal Civil Penalties Inflation Adjustment Act of 1990, Pub. L. 101-410, 104 Stat. 890, as amended by the Debt...

  14. Indirect Monetary Policy Reforms and Output Growth in Nigeria: An ...

    African Journals Online (AJOL)

    A causality test performed on the models show that there was a-two-way causality between money supply and output growth during the reform period in Nigeria. The adjusted coefficient of determination (R2) = 0.65 indicates that over 65% changes in the real GDP (RGDP), are explained by changes in the monetary policy ...

  15. The Relative Effectiveness of Monetary and Fiscal Policies in ...

    African Journals Online (AJOL)

    This study investigates econometrically, the relative effectiveness of Monetary and Fiscal policies, by focusing on the relative effectiveness of Broad Money Supply and Government Fiscal Deficits with respect to their influences on economic activity represented by the Gross Domestic Product (GDP). The ultimate research ...

  16. Exchange Rate Volatility, Currency Substitution and Monetary Policy ...

    African Journals Online (AJOL)

    This article analyses the implications of currency substitution and exchange rate volatility for monetary policy in Nigeria. It adopts the unrestricted portfolio balance model of currency substitution, incorporating exchange rate volatility within the framework of the Vector Error Correction (VEC) technique. Results from both ...

  17. Monetary and Fiscal Policies for a Finite Planet

    Directory of Open Access Journals (Sweden)

    Adam Scanlan

    2013-06-01

    Full Text Available Current macroeconomic policy promotes continuous economic growth. Unemployment, poverty and debt are associated with insufficient growth. Economic activity depends upon the transformation of natural materials, ultimately returning to the environment as waste. Current levels of economic throughput exceed the planet’s carrying capacity. As a result of poorly constructed economic institutions, society faces the unacceptable choice between ecological catastrophe and human misery. A transition to a steady-state economy is required, characterized by a rate of throughput compatible with planetary boundaries. This paper contributes to the development of a steady-state economy by addressing US monetary and fiscal policies. A steady-state monetary policy would support counter-cyclical, debt-free vertical money creation through the public sector, in ways that contribute to sustainable well-being. The implication for a steady-state fiscal policy is that any lending or spending requires a careful balance of recovery of money, not as a means of revenue, but as an economic imperative to meet monetary policy goals. A steady-state fiscal policy would prioritize targeted public goods investments, taxation of ecological “bads” and economic rent and implementation of progressive tax structures. Institutional innovations are considered, including common asset trusts, to regulate throughput, and a public monetary trust, to strictly regulate money supply.

  18. Costs and Benefits of Monetary Union: A Pedagogical Note | Oyejide ...

    African Journals Online (AJOL)

    ... conduct a cost-benefit analysis or delay the decision to join until appropriate convergence criteria are met and an explicit cost-benefit sharing scheme designed. The benefits of monetary union are most effectively exploited when all the other key ingredients of economic integration have already been established and fully ...

  19. Monetary Development and Effects on Economic Growth in Nigeria ...

    African Journals Online (AJOL)

    The paper analyses monetary development and effects on economic growth in Nigeria for the period 1970-2008. The time series data used for the work were extracted from the central bank of Nigeria's statistical bulletin. The ultimate objective of the study is to determine the interdependency or directional causation of ...

  20. Monetary and fiscal policy under bounded rationality and heterogeneous expectations

    NARCIS (Netherlands)

    Lustenhouwer, J.E.

    2017-01-01

    The goal of this thesis is to use plausible and intuitive models of bounded rationality to give new insights in monetary and fiscal policy. Particular focus is put on the zero lower bound on the nominal interest rate, forward guidance, and fiscal consolidations. The thesis considers different forms

  1. On the Relation of Monetary and Political Union

    OpenAIRE

    Issing, Otmar

    2016-01-01

    When EMU took effect in 1999, no progress in the direction of political union had been achieved — indeed, it had not even been attempted. Therefore, from the beginning the euro was confronted with a kind of sword of Damocles: can monetary union survive without political union?

  2. Financial intermediation and monetary transmission through conventional and Islamic channels

    NARCIS (Netherlands)

    Zaheer, S.

    2013-01-01

    This thesis studies the salient features of Islamic banking and finance (IBF) in comparison to conventional banking and finance (CBF).The study explains the balance sheet products used by Islamic banks as well as analyzes the proposed tools for monetary policy in IBF. Next, the dissertation

  3. A Monetary Union in Asia? Some European Lessons

    Directory of Open Access Journals (Sweden)

    Wyplosz Charles

    2001-12-01

    Full Text Available Monetary Union in Europe has been the natural response to the combined desire of stabilizing intra-European exchange rates and of lifting permanently all capital controls. The commitment to stable exchange rate has long been rooted in policymakers’ conviction that trade integration requires precise rules which eliminate the risk of misalignments, whether imposed by the markets or arranged by the authorities. The success in maintaining fixed-but-adjustable exchange rates within the EMS and next in adopting a single currency is largely due to the patient and progressive building institutions that became the uneasy repository of those parts of national sovereignty that have been abandoned. This experience suggests three lessons for current discussions about a monetary union in Asia. First, multilateral regional exchange rate arrangements are more conducive to an effective defense than indirect approaches like basket pegs. They probably require some limits to capital mobility. Second, adopting a single currency necessitates elaborate preparations that can only be underpinned by the gradual build up of collective institutions. Third, a monetary union requires some reasonable degree of real convergence. This implies starting with a core of sufficiently homogeneous countries. At this stage, starting with a monetary union in Asia would imply reversing the European sequencing, which started with a common market, moved on to the EMS, and liberalization of capital movements.

  4. Monetary Policy, Debt and the Cyclical Behavior of Inventories

    Directory of Open Access Journals (Sweden)

    Abdul Ghafar Ismail

    2007-01-01

    Full Text Available An earlier study on the determinants of inventories investment has been proposed by Lovel (1961. However, the study fails to mention the effects of financial variables. The puzzle prevails on account of imperfect capital markets. This implies that interest rate generally affects inventory investment indirectly through the debt channel. For instance, in the period of tight monetary policy, increasing interest rates have a negative impact on the present value of firms’ collateralizable net worth. In addition, they also weaken firms’ balance sheets as interest expenses also rise up. In imperfect capital markets, this fact indicates an increase in the amount of external financing that firms need, a rise in the premium on external financing that they face, and a reduction in their accumulation of assets, their spending and their production. Given the low adjustment cost that characterizes firms, it will be inventories that firms will initially reduce. Therefore, this paper is contributes to the issue of monetary policy transmission in Malaysia. Our specific attention is limited to the channel of monetary policy on a firm’s inventory. Using micro data, we try to take into account the relevance of the firm’s balance sheet conditions in the transmission of monetary policy.

  5. An Analysis of the Stability of Monetary Aggragates in Botswana ...

    African Journals Online (AJOL)

    ... the fact that M3 is made up of Bank of Botswana Certificates among others.It seems reasonable to assume that M3 would be a better target than M2. A potential area for further research may be to assess whether using either of these monetary aggregates to anchor policy would actually work for Botswana, given also the ...

  6. Monetary valuation of salinity impacts and microbial pollution in the ...

    African Journals Online (AJOL)

    2011-04-04

    Apr 4, 2011 ... 1CSIR, Natural Resources and the Environment, PO Box 320, Stellenbosch, 7599, South Africa. 2CSIR, Natural ... indirect costs of human health impacts as a result of microbial pollution in the study area. These monetary value ..... mental health policy approaches that proffer more effective and sensitive ...

  7. Fiscal and monetary policies in complex evolving economies

    NARCIS (Netherlands)

    Dosi, G.; Fagiolo, G.; Napoletano, M.; Roventini, A.; Treibich, T.G.

    2014-01-01

    In this paper we explore the effects of alternative combinations of fiscal and monetary policies under different income distribution regimes. In particular, we aim at evaluating fiscal rules in economies subject to banking crises and deep recessions. We do so using an agent-based model populated by

  8. 153 Monetary Policy and Nigeria's Economic Development (Pp. 153 ...

    African Journals Online (AJOL)

    User

    2010-10-17

    Oct 17, 2010 ... economic development of Nigeria at both 1% and 5% levels of significance, treasury bill at 5.6%, minimum ... Key Words: monetary policy instruments, economic development, transmission parts ... Bank of Nigeria (CBN) as the chief superintendent of the financial system in carrying out its tasks aimed at ...

  9. 153 Monetary Policy and Nigeria's Economic Development (Pp. 153 ...

    African Journals Online (AJOL)

    User

    2010-10-17

    Oct 17, 2010 ... Senior Lecturer, Department of Financial. Management Technology, School of Management Technology, Federal. University of Technology, Owerri, Nigeria. Email: leakujuobi@yahoo.com. Abstract. This study investigated the impact of monetary policy instruments on the economic development of Nigeria, ...

  10. Monetary Policy Shocks and Stock Returns Reactions: Evidence ...

    African Journals Online (AJOL)

    A possible explanation for this counter-intuitive result is that the market capitalization in BSE is dominated by commercial banks, which are also the main beneficiaries of the interest income from investment in risk-free Bank of Botswana Certificates. The observed positive reaction of aggregate stock returns to monetary policy ...

  11. Medicare and Medicaid programs: hospital outpatient prospective payment and ambulatory surgical center payment systems and quality reporting programs; Hospital Value-Based Purchasing Program; organ procurement organizations; quality improvement organizations; Electronic Health Records (EHR) Incentive Program; provider reimbursement determinations and appeals. Final rule with comment period and final rules.

    Science.gov (United States)

    2013-12-10

    : This final rule with comment period revises the Medicare hospital outpatient prospective payment system (OPPS) and the Medicare ambulatory surgical center (ASC) payment system for CY 2014 to implement applicable statutory requirements and changes arising from our continuing experience with these systems. In this final rule with comment period, we describe the changes to the amounts and factors used to determine the payment rates for Medicare services paid under the OPPS and those paid under the ASC payment system. In addition, this final rule with comment period updates and refines the requirements for the Hospital Outpatient Quality Reporting (OQR) Program, the ASC Quality Reporting (ASCQR) Program, and the Hospital Value-Based Purchasing (VBP) Program. In the final rules in this document, we are finalizing changes to the conditions for coverage (CfCs) for organ procurement organizations (OPOs); revisions to the Quality Improvement Organization (QIO) regulations; changes to the Medicare fee-for-service Electronic Health Record (EHR) Incentive Program; and changes relating to provider reimbursement determinations and appeals.

  12. Marketing Schools: Consumer Goods and Competitive Incentives for Consumer Information

    Science.gov (United States)

    Lubienski, Christopher

    2007-01-01

    Effective school-choice plans depend on the quality of information available to families. Examining the promotional materials provided by different schools in a highly competitive and diverse urban area tells us not only about the quality of that information but also how schools respond to competitive incentives. This analysis outlines an economic…

  13. Energy Education Incentives: Evaluating the Impact of Consumer Energy Kits

    Science.gov (United States)

    Kirby, Sarah D.; Guin, Autumn; Langham, Laura

    2015-01-01

    Measuring the energy and environmental impact of residential energy education efforts is difficult. The E-Conservation residential energy management program uses consumer energy kits to document the impact of energy-efficient improvements. The consumer energy kit provides an incentive for individuals attending energy education workshop, helps…

  14. Wage structure and the incentive effects of promotions

    NARCIS (Netherlands)

    van Herpen, M.; Cools, C.; van Praag, M.

    2006-01-01

    This paper studies wage structure characteristics and their incentive effects within one firm. Based on personnel records and an employee survey, we provide evidence that wages are attached to jobs and that promotions play a dominant role as a wage determinant. We furthermore show that a promotion

  15. Wage structure and the incentive effect of promotions

    NARCIS (Netherlands)

    van Herpen, M.; Cools, K.; van Praag, C.M.

    2004-01-01

    This paper studies wage structure characteristics and their consequent incentive effects empirically. Based on personnel records and an employee survey, we provide evidence that wages are attached to jobs and that promotions play a dominant role as a wage determinant. Our findings indicate

  16. Measuring Monetary Conditions in A Small Open Economy: The Case of Malaysia

    OpenAIRE

    Abdul Majid, Muhamed Zulkhibri

    2010-01-01

    The paper explores the measurement of monetary condition in Malaysia to augment the existing monetary policy framework. As an open economy, Monetary Condition Index (MCI) and Financial Condition Index (FCI) are applicable to understand the monetary condition especially in the era of financial deregulation and liberalisation. The results obtained suggest that the index is most useful when the exchange market exhibits stable conditions, and would be a constructive tool in the simultaneous manag...

  17. Optimal Incentive Pricing on Relaying Services for Maximizing Connection Availability in Multihop Cellular Networks

    Directory of Open Access Journals (Sweden)

    Ming-Hua Lin

    2012-01-01

    Full Text Available This paper investigates an incentive pricing problem for relaying services in multihop cellular networks. Providing incentives to encourage mobile nodes to relay data is a critical factor in building successful multihop cellular networks. Most existing approaches adopt fixed-rate or location-based pricing on rewarding packets forwarding. This study applies a mathematical programming model to determine an optimal incentive price for each intermediate node that provides relaying services. Under the obtained incentive price, the connection availability of the networks is maximized by using the same relaying costs as other pricing schemes. A signomial geometric programming problem is constructed, and a deterministic optimization approach is employed to solve the problem. Besides, quality-of-service constraints are added in the proposed model to mitigate the unfairness between connection availabilities of individual nodes. Computational results demonstrate that the proposed model obtains the optimal incentive price on relaying services to maximize connection availability of the networks.

  18. Does the Effort of Processing Potential Incentives Influence the Adaption of Context Updating in Older Adults?

    Science.gov (United States)

    Schmitt, Hannah; Kray, Jutta; Ferdinand, Nicola K

    2017-01-01

    A number of aging studies suggest that older adults process positive and negative information differently. For instance, the socioemotional selectivity theory postulates that older adults preferably process positive information in service of emotional well-being (Reed and Carstensen, 2012). Moreover, recent research has started to investigate whether incentives like gains or losses can influence cognitive control in an ongoing task. In an earlier study (Schmitt et al., 2015), we examined whether incentive cues, indicating potential monetary gains, losses, or neutral outcomes for good performance in the following trial, would influence older adults' ability to exert cognitive control. Cognitive control was measured in an AX-Continuous-Performance-Task (AX-CPT) in which participants had to select their responses to probe stimuli depending on a preceding context cue. In this study, we did not find support for a positivity effect in older adults, but both gains and losses led to enhanced context processing. As the trial-wise presentation mode may be too demanding on cognitive resources for such a bias to occur, the main goal of the present study was to examine whether motivational mindsets, induced by block-wise presentation of incentives, would result in a positivity effect. For this reason, we examined 17 older participants (65-76 years) in the AX-CPT using a block-wise presentation of incentive cues and compared them to 18 older adults (69-78 years) with the trial-wise presentation mode from our earlier study (Schmitt et al., 2015). Event-related potentials were recorded to the onset of the motivational cue and during the AX-CPT. Our results show that (a) older adults initially process cues signaling potential losses more strongly, but later during the AX-CPT invest more cognitive resources in preparatory processes like context updating in conditions with potential gains, and (b) block-wise and trial-wise presentation of incentive cues differentially influenced

  19. Research incentive program for clinical surgical faculty associated with increases in research productivity.

    Science.gov (United States)

    Schroen, Anneke T; Thielen, Monika J; Turrentine, Florence E; Kron, Irving L; Slingluff, Craig L

    2012-11-01

    To develop a research productivity scoring program within an academic department of surgery that would help realign incentives to encourage and reward research. Although research is highly valued in the academic mission, financial incentives are generally aligned to reward clinical productivity. A formula assigning points for publications and extramural grants was created and used to award a research incentive payment proportional to the research productivity score, beginning July 2007. Publication points reflect journal impact factor, author role, and manuscript type. Grant points reflect total funding and percentage of effort. Publication data were gathered from Web of Science/PubMed/Medline and grants data from the departmental grants office. An annual award is presented to the person with the greatest improvement. The research productivity score data after July 2007 were compared with control data for the 2 preceding years. A 33-question survey to 28 clinical faculty was conducted after the first year to measure satisfaction and solicit constructive feedback. The mean annual point scores increased from the preresearch productivity score to the postresearch productivity score academic years (2180 vs 3389, respectively, P = .08), with a significant change in the grant component score (272 vs 801, P = .03). Since research productivity score implementation, the operative case volumes increased 4.3% from 2006 to 2011. With a response rate of 89%, the survey indicated that 76% of the faculty wished to devote more time to research and 52% believed 1 or more research-related behaviors would change because of the research productivity score program. An objective, transparent research incentive program, through both monetary incentives and recognition, can stimulate productivity and was well-received by faculty. Copyright © 2012 The American Association for Thoracic Surgery. Published by Mosby, Inc. All rights reserved.

  20. Do monetary rewards crowd out intrinsic motivations of volunteers? Some empirical evidence for Italian volunteers

    OpenAIRE

    Damiano Fiorillo

    2009-01-01

    The paper studies the determinants of regular volunteering departing from previous literature on extrinsic and intrinsic motivations. It contributes to the literature investigating the role of monetary rewards to influence intrinsic motivation. Using a simple framework that allows me to study the effect of monetary rewards on intrinsic motivation, the paper shows, controlling for endogenous bias, that monetary rewards crowd-out intrinsic motivation.

  1. The Impact of Monetary Policy on the Economic Growth of Nigeria

    African Journals Online (AJOL)

    DrNneka

    Theory of econometrics. Macmillan Press Ltd. Koshy, M. (2012). Monetary policy: Stabilizing Prices and Output. Finance and. Development, International Monetary Fund. Michael, B. & Ebibai, T. S. (2014). Monetary policy and economic growth in Nigeria. (1980-2011). Asia Economic and Financial Review, Vol.4(1).

  2. Internal and external transmissions of monetary and fiscal policies in the EMU

    NARCIS (Netherlands)

    Aarle, B. van; Garretsen, J.H.; Moorsel, C. van

    2001-01-01

    With the introduction of Economic and Monetary Union (EMU), the sovereignty of national monetary institutions has been replaced by a common monetary institution, the European Central Bank (ECB) and national currencies have been replaced by a common currency, the euro. EMU therefore implies the loss

  3. 17 CFR Table IV to Subpart E of... - Civil Monetary Penalty Inflation Adjustments

    Science.gov (United States)

    2010-04-01

    ... Inflation Adjustments IV Table IV to Subpart E of Part 201 Commodity and Securities Exchanges SECURITIES AND... Table IV to Subpart E of Part 201—Civil Monetary Penalty Inflation Adjustments Table IV to Subpart E U.S. Code citation Civil monetary penalty inflation adjustments Civil monetary penalty description Year...

  4. Mexico’s monetary policy communication and money markets

    OpenAIRE

    Alicia Garcia-Herrero; Eric Girardin; Arnoldo Lopez Marmolejo

    2015-01-01

    Central bank communication is becoming a key aspect of monetary policy. How much financial markets listen and, possibly, understand Banco de Mexico’s communication on its monetary policy stance should be a key consideration for the central bank to further modernize its monetary policy toolkit

  5. It's Not Your Mother and Father's Monetary Policy Anymore: The Federal Reserve and Financial Crisis Relief

    Science.gov (United States)

    Hill, Andrew T.; Wood, William C.

    2011-01-01

    The recent financial crisis brought about dramatic changes in the way that the Federal Reserve, the nation's central bank, conducts monetary policy. One challenge for high school educators going forward will be to strike a balance between the teaching of traditional monetary policy and the teaching of the monetary policy used during these…

  6. Financial Incentives to Increase Advance Care Planning Among Medicaid Beneficiaries: Lessons Learned From Two Pragmatic Randomized Trials.

    Science.gov (United States)

    Barnato, Amber E; Moore, Robert; Moore, Charity G; Kohatsu, Neal D; Sudore, Rebecca L

    2017-07-01

    Medicaid populations have low rates of advance care planning (ACP). Potential policy interventions include financial incentives. To test the effectiveness of patient plus provider financial incentive compared with provider financial incentive alone for increasing ACP discussions among Medicaid patients. Between April 2014 and July 2015, we conducted two sequential assessor-blinded pragmatic randomized trials in a health plan that pays primary care providers (PCPs) $100 to discuss ACP: 1) a parallel cluster trial (provider-delivered patient incentive) and 2) an individual-level trial (mail-delivered patient incentive). Control and intervention arms included encouragement to complete ACP, instructions for using an online ACP tool, and (in the intervention arm) $50 for completing the online ACP tool and a small probability of $1000 (i.e., lottery) for discussing ACP with their PCP. The primary outcome was provider-reported ACP discussion within three months. In the provider-delivered patient incentive study, 38 PCPs were randomized to the intervention (n = 18) or control (n = 20) and given 10 patient packets each to distribute. Using an intention-to-treat analysis, there were 27 of 180 ACP discussions (15%) in the intervention group and 5 of 200 (2.5%) in the control group (P = .0391). In the mail-delivered patient incentive study, there were 5 of 187 ACP discussions (2.7%) in the intervention group and 5 of 189 (2.6%) in the control group (P = .99). ACP rates were low despite an existing provider financial incentive. Adding a provider-delivered patient financial incentive, but not a mail-delivered patient incentive, modestly increased ACP discussions. PCP encouragement combined with a patient incentive may be more powerful than either encouragement or incentive alone. Copyright © 2017 American Academy of Hospice and Palliative Medicine. Published by Elsevier Inc. All rights reserved.

  7. The Influence Of Monetary And Non-Monetary Poverty Of Economically Active People’s Households On Job Satisfaction

    Directory of Open Access Journals (Sweden)

    Vyacheslav Nikolaevich Bobkov

    2014-12-01

    Full Text Available The main aim of this paper is to reveal the relationship between poverty of economically active people’s households (monetary and non-monetary and job satisfaction of workers from these households. Thus, the object of the study is economically active population in Russia and the subject — peculiarities of its poorest part’s attitude towards career. The study of the empirical side of the object in Russia is conducted on RLMS data, using pooled samples of its 21st wave (November-December 2012. The entire set of working individuals is divided into strata on the basis of per capita income or deprivation experienced by their households. Then we conduct a statistical study of job satisfaction of employees from these strata, with a special emphasis on the poorest stratum. During our study we compute the correlation coefficients, carry out a frequency analysis and t-tests for independent samples, construct contingency tables and calculate mean values. On the basis of these calculations, some conclusions about the degree of influence of monetary and non-monetary poverty on job satisfaction in Russia are made. The paper concludes with a number of recommendations aimed at reducing household poverty while improving job satisfaction of the economically active people living in poor households of Russia

  8. Temporal changes of striatal dopamine release during and after a video game with a monetary reward: a PET study with [{sup 11}C]raclopride continuous infusion

    Energy Technology Data Exchange (ETDEWEB)

    Kim, S. E. [Sungkyunkwon University School of Medicine, Suwon (Korea, Republic of); Cho, S. S.; Choe, Y. S.; Lee, S. Y.; Kang, E.; Kim, B. T. [Seoul National University hospital, Seoul (Korea, Republic of)

    2002-07-01

    In an attempt to understand the neurochemical changes associated with rewarded motor learning in human brain, we investigated the temporal changes of striatal dopamine (DA) release during and after a goal-directed psychomotor task (a video game) with a monetary incentive using [{sup 11}C]raclopride PET. Seven healthy, right-handed, nonsmokers were studied with PET for 120 min (50 min resting followed by 40 min video game and another 30 min resting) while receiving a bolus plus constant infusion of the DA D2 receptor radioligand [{sup 11}C]raclopride. During the video game (from 50 to 90 min postinjection), subjects played Tetris, which involved learning of joystick movement to fit falling jigsaw blocks, and periodically rewarded with unpredictable amount monetary incentives for improved performance. Striatal V3', calculated as striatal-cerebellar/cerebellar activity ratio, was measured under equilibrium condition, at baseline and during and after the video game. Striatal V3' was significantly reduced during the video game compared with baseline levels, indicating increased DA release in this region (caudate, -15{+-}6%; putamen, -30{+-}10%). During the 30 min after the game ended, striatal [{sup 11}C]raclopride binding was gradually increased and the V3' approached baseline levels. There was a significant correlation between the reduction in striatal V3' and the task performance during the video game. These results demonstrate DA release in the human striatum during a psychomotor task with a monetary reward and to our knowledge for the first time a gradual DA restoration to baseline levels following the offset of stimulation. They also illustrate that acute fluctuations of synaptic DA can be measured in vivo using [{sup 11}C]raclopride PET.

  9. Individual Teacher Incentives And Student Performance

    OpenAIRE

    David N. Figlio; Lawrence Kenny

    2006-01-01

    This paper is the first to systematically document the relationship between individual teacher performance incentives and student achievement using United States data. We combine data from the National Education Longitudinal Survey on schools, students, and their families with our own survey conducted in 2000 regarding the use of teacher incentives. This survey on teacher incentives has unique data on frequency and magnitude of merit raises and bonuses, teacher evaluation, and teacher termina...

  10. On the Effectiveness of Incentive Pay

    DEFF Research Database (Denmark)

    Friis, Ivar; Hansen, Allan; Vámosi, Tamás S.

    2015-01-01

    Extant research already emphasises that complementarities and substitution involving incentive pay and other elements of an organisation's management control system play an important role in terms of explaining the effectiveness of incentive systems. Despite this awareness calls continue for more...... and insight into how incentive pay features in complementary and substitutional relationships in an individual organisational setting. Greater insight can help illustrate how complementary and substitutional relationships unfold in even more complex ways than current research indicates, as well as how...

  11. Are Delegation and Incentives Complementary Instruments ?

    DEFF Research Database (Denmark)

    Lando, Henrik

    2004-01-01

    It is natural to suppose that delegation and incentives are complementaryboth in the sense that when more decisions are delegated toa lower level of an organizational hierarchy, more use should be madeof incentives at that level, and in the sense that more use of incentivesshould be accompanied...... thisframework it is shown that delegation and incentives are not necessarilycomplementary instruments; some decisions should be centralized whenincentives are introduced....

  12. Allocating Non-Monetary Incentives for Navy Nurse Corps Officers: Menu Method vs. Bid Method Combinatorial Retention Auction Mechanism (CRAM)

    Science.gov (United States)

    2010-03-01

    the baby boomer generation makes up a large proportion of the present nurse workforce. In the next 5–7 years, retirements among this generation is...company loyalty, lifestyle 14 choices, labor relations, and the balance between work and leisure time (Sudheimer, 2009). The “ Baby - Boomers ...Generation X and Y, and the Millennials ” all place distinctively different demands on employers based on their expectations. The “ boomers ’ make up the

  13. Auction Mechanisms For Allocating Individualized Non-monetary Retention Incentives in Complex Decision Environments: Evaluation Via Laboratory Experimentation

    Science.gov (United States)

    2010-03-01

    33 Lawrence M. Ausubel and Paul Milgrom, Combinatorial Auctions, ed. Peter Cramton, Yoav Shomham, and Richard Steinberg, (Cambridge, MA: MIT...3% 21% Uniform Discriminatory 150 THIS PAGE INTENTIONALLY LEFT BLANK 151 LIST OF REFERENCES Ausubel , Lawrence M., and Paul

  14. Incentive-based management for nonprofit organizations.

    Science.gov (United States)

    Nelsen, W C

    1991-01-01

    Nonprofit organizations should consider using incentive-based management programs so long as such programs are studied thoughtfully, implemented carefully, and closely tied to other important management practices. The article describes the experiences of one nonprofit organization, Citizens' Scholarship Foundation of America (CSFA), in successfully conducting a staff incentive program during the past several years. The author also reports briefly on the results of a recent survey among CSFA staff involved in the incentive plan, outlining the benefits of such a program in helping the organization to reach its objectives. Finally, the author addresses potential pitfalls to avoid in implementing an effective staff incentive program.

  15. Incentive-based approaches to sustainable fisheries

    National Research Council Canada - National Science Library

    Grafton, R Q; Arnason, Ragnar; Bjorndal, Trond; Campbell, David; Campbell, Harry F; Clark, Colin W; Connor, Robin; Dupont, Diane P; Hannesson, Rognvaldur; Hilborn, Ray; Kirkley, James E; Kompas, Tom; Lane, Daniel E; Munro, Gordon R; Pascoe, Sean; Squires, Dale; Steinshamn, Stein I.v.a.r; Turris, Bruce R; Weninger, Quinn

    2006-01-01

    ...: inappropriate incentives bearing on fishers and the ineffective governance that frequently exists in commercial, developed fisheries managed primarily by total-harvest limits and input controls...

  16. Incentives and intrinsic motivation in healthcare

    Directory of Open Access Journals (Sweden)

    Mikel Berdud

    2016-11-01

    Conclusions: The conclusions could act as a guide to support the optimal design of incentive policies and schemes within health organisations when healthcare professionals are intrinsically motivated.

  17. Who responds to financial incentives for weight loss? Evidence from a randomized controlled trial.

    Science.gov (United States)

    Paloyo, Alfredo R; Reichert, Arndt R; Reuss-Borst, Monika; Tauchmann, Harald

    2015-11-01

    There is a paucity of evidence on the heterogeneous impacts of financial incentives on weight loss. Between March 2010 and January 2012, in a randomized controlled trial, we assigned 700 obese persons to three experimental arms. We test whether particular subgroups react differently to financial incentives for weight loss. Two treatment groups obtained a cash reward (€150 and €300 with 237 and 229 participants, respectively) for achieving an individually-assigned target weight within four months; the control group (234 participants) was not incentivized. Participants and administrators were not blinded to the intervention. We find that monetary rewards effectively induced obese individuals to reduce weight across all subgroups. However, there is no evidence for treatment-effect heterogeneity for those groups that were incentivized. Among those who were in the €300 group, statistically significant and large weight losses were observed for women, singles, and those who are not working (all above 4 kg in four months). In addition, the magnitude of the reward matters only for women and migrants. The effectiveness of financial incentives to reduce weight nevertheless raises sensitive ethical issues that should be taken into consideration by policymakers. Copyright © 2015 Elsevier Ltd. All rights reserved.

  18. Does incentive-elicited nucleus accumbens activation differ by substance of abuse? An examination with adolescents

    Directory of Open Access Journals (Sweden)

    Hollis C. Karoly

    2015-12-01

    Full Text Available Numerous questions surround the nature of reward processing in the developing adolescent brain, particularly in regard to polysubstance use. We therefore sought to examine incentive-elicited brain activation in the context of three common substances of abuse (cannabis, tobacco, and alcohol. Due to the role of the nucleus accumbens (NAcc in incentive processing, we compared activation in this region during anticipation of reward and loss using a monetary incentive delay (MID task. Adolescents (ages 14–18; 66% male were matched on age, gender, and frequency of use of any common substances within six distinct groups: cannabis-only (n = 14, tobacco-only (n = 34, alcohol-only (n = 12, cannabis + tobacco (n = 17, cannabis + tobacco + alcohol (n = 17, and non-using controls (n = 38. All groups showed comparable behavioral performance on the MID task. The tobacco-only group showed decreased bilateral nucleus accumbens (NAcc activation during reward anticipation as compared to the alcohol-only group, the control group, and both polysubstance groups. Interestingly, no differences emerged between the cannabis-only group and any of the other groups. Results from this study suggest that youth who tend toward single-substance tobacco use may possess behavioral and/or neurobiological characteristics that differentiate them from both their substance-using and non-substance-using peers.

  19. A systematic worldwide review of the direct monetary losses in cattle due to bovine viral diarrhoea virus infection.

    Science.gov (United States)

    Richter, Veronika; Lebl, Karin; Baumgartner, Walter; Obritzhauser, Walter; Käsbohrer, Annemarie; Pinior, Beate

    2017-02-01

    Bovine viral diarrhoea virus (BVDV) is an important infectious agent of cattle worldwide that affects herd productivity and reproduction. In this systematic review of the impact of BVDV, studies were analysed with a particular focus on the monetary implications and types of direct losses, the initial infection status of herds, production systems, time periods of assessment, calculation level, study types and whether or not country-specific assessments were published. A linear mixed model was applied to analyse factors that influence the level of monetary direct losses due to BVDV infection. The 44 studies included in this review covered 15 countries and assessed direct monetary losses due to BVDV incurred over the past 30 years. Direct losses between and within countries were largely heterogeneous with respect to the monetary level and types of direct losses, ranging from 0.50 to 687.80 US dollars (USD) per animal.1 Average direct losses per naïve dairy cow were USD24.85 higher than per beef cow. Country-specific assessments of direct losses due to BVDV were provided in 38/44 (86.4%) studies. Mortality, morbidity, premature culling, stillbirths, abortion, reinfection, country and study type had a significant influence on the monetary level of direct losses (r2 = 0.69). Countries recording direct losses were more likely to carry out voluntary or compulsory control and eradication programmes (odds ratio = 10.2; 95% confidence interval 1.7-81.9; P = 0.004). Copyright © 2017 The Author(s). Published by Elsevier Ltd.. All rights reserved.

  20. 48 CFR 16.402-1 - Cost incentives.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Cost incentives. 16.402-1... AND CONTRACT TYPES TYPES OF CONTRACTS Incentive Contracts 16.402-1 Cost incentives. (a) Most incentive contracts include only cost incentives, which take the form of a profit or fee adjustment formula and are...

  1. 5 CFR 575.109 - Payment of recruitment incentives.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false Payment of recruitment incentives. 575... RECRUITMENT, RELOCATION, AND RETENTION INCENTIVES; SUPERVISORY DIFFERENTIALS; AND EXTENDED ASSIGNMENT INCENTIVES Recruitment Incentives § 575.109 Payment of recruitment incentives. (a) An authorized agency...

  2. Financial incentives for smoking cessation in pregnancy: randomised controlled trial.

    Science.gov (United States)

    Tappin, David; Bauld, Linda; Purves, David; Boyd, Kathleen; Sinclair, Lesley; MacAskill, Susan; McKell, Jennifer; Friel, Brenda; McConnachie, Alex; de Caestecker, Linda; Tannahill, Carol; Radley, Andrew; Coleman, Tim

    2015-01-27

    To assess the efficacy of a financial incentive added to routine specialist pregnancy stop smoking services versus routine care to help pregnant smokers quit. Phase II therapeutic exploratory single centre, individually randomised controlled parallel group superiority trial. One large health board area with a materially deprived, inner city population in the west of Scotland, United Kingdom. 612 self reported pregnant smokers in NHS Greater Glasgow and Clyde who were English speaking, at least 16 years of age, less than 24 weeks pregnant, and had an exhaled carbon monoxide breath test result of 7 ppm or more. 306 women were randomised to incentives and 306 to control. The control group received routine care, which was the offer of a face to face appointment to discuss smoking and cessation and, for those who attended and set a quit date, the offer of free nicotine replacement therapy for 10 weeks provided by pharmacy services, and four, weekly support phone calls. The intervention group received routine care plus the offer of up to £400 of shopping vouchers: £50 for attending a face to face appointment and setting a quit date; then another £50 if at four weeks' post-quit date exhaled carbon monoxide confirmed quitting; a further £100 was provided for continued validated abstinence of exhaled carbon monoxide after 12 weeks; a final £200 voucher was provided for validated abstinence of exhaled carbon monoxide at 34-38 weeks' gestation. The primary outcome was cotinine verified cessation at 34-38 weeks' gestation through saliva (incentives were documented. Significantly more smokers in the incentives group than control group stopped smoking: 69 (22.5%) versus 26 (8.6%). The relative risk of not smoking at the end of pregnancy was 2.63 (95% confidence interval 1.73 to 4.01) Pincentives need to be offered to achieve one extra quitter in late pregnancy) was 7.2 (95% confidence interval 5.1 to 12.2). The mean birth weight was 3140 g (SD 600 g) in the incentives group

  3. El control de los agregados monetarios: lecciones y experiencias del caso venezolano reciente The control of monetary aggregates: lessons and experiences from the recent Venezuelan case

    Directory of Open Access Journals (Sweden)

    Leonardo V. Vera

    2009-04-01

    Full Text Available Este trabajo intenta exponer las dificultades que confronta la autoridad monetaria para ejercer algún grado de control sobre los agregados monetarios, y para ello evalúa la experiencia reciente de una economía abierta y dependiente de un recurso mineral exportable como Venezuela. El trabajo no sólo expone argumentos analíticos, sino además provee evidencia muy sencilla en demostración de que existen numerosas fuentes de endogeneidad de la base monetaria, del multiplicador y de otros agregados más amplios en la economía venezolana. Aunque el Banco Central en Venezuela no viene anunciando ni explicando públicamente la estrategia y el alcance de la política monetaria, el trabajo muestra que la autoridad monetaria se ha movido sigilosamente, en los últimos tiempos, hacia una estrategia de uso de las tasas marcadores de las operaciones de mercado abierto como variable operativa buscando un objetivo final de actividad económica.This work examines the difficulties and formidable challenges faced by monetary authorities to control the behavior of monetary aggregates in an open economy dependent of an exportable natural resource such as Venezuela. The work not only introduces analytical arguments but also provides some empirical evidence that shows the several sources of endogeneity in the monetary base, the multiplier and other wider monetary aggregates in Venezuela. Though the Central Bank currently does not announce a clear strategy and target for the practice of monetary policy, we argue that the monetary authority has recently moved towards a strategy of targeting short-term interest rates. Presumably, the use of the repo rate as a monetary policy instrument is tied to a final target of economic activity.

  4. Monetary policy and dynamic adjustment of corporate investment: A policy transmission channel perspective

    Directory of Open Access Journals (Sweden)

    Qiang Fu

    2015-06-01

    Full Text Available We investigate monetary policy effects on corporate investment adjustment, using a sample of China’s A-share listed firms (2005–2012, under an asymmetic framework and from a monetary policy transmission channel perspective. We find that corporate investment adjustment is faster in expansionary than contractionary monetary policy periods. Monetary policy has a significant effect on adjustment speed through monetary and credit channels. An increase in the growth rate of money supply or credit accelerates adjustment. Both effects are significantly greater during tightening than expansionary periods. The monetary channel has significant asymmetry, whereas the credit channel has none. Leverage moderates the relationship between monetary policy and adjustment, with a greater effect in expansionary periods. This study enriches the corporate investment behavior literature and can help governments develop and optimize macro-control policies.

  5. A randomised controlled trial to determine the effect on response of including a lottery incentive in health surveys [ISRCTN32203485

    Science.gov (United States)

    Roberts, LM; Wilson, S; Roalfe, A; Bridge, P

    2004-01-01

    Background Postal questionnaires are an economical and simple method of data collection for research purposes but are subject to non-response bias. Several studies have explored the effect of monetary and non-monetary incentives on response. Recent meta-analyses conclude that financial incentives are an effective way of increasing response rates. However, large surveys rarely have the resources to reward individual participants. Three previous papers report on the effectiveness of lottery incentives with contradictory results. This study aimed to determine the effect of including a lottery-style incentive on response rates to a postal health survey. Methods Randomised controlled trial. Setting: North and West Birmingham. 8,645 patients aged 18 or over randomly selected from registers of eight general practices (family physician practices). Intervention: Inclusion of a flyer and letter with a health questionnaire informing patients that returned questionnaires would be entered into a lottery-style draw for £100 of gift vouchers. Control: Health questionnaire accompanied only by standard letter of explanation. Main outcome measures: Response rate and completion rate to questionnaire. Results 5,209 individuals responded with identical rates in both groups (62.1%). Practice, patient age, sex and Townsend score (a postcode based deprivation measure) were identified as predictive of response, with higher response related to older age, being female and living in an area with a lower Townsend score (less deprived). Conclusion This RCT, using a large community based sample, found that the offer of entry into a lottery style draw for £100 of High Street vouchers has no effect on response rates to a postal health questionnaire. PMID:15533256

  6. A randomised controlled trial to determine the effect on response of including a lottery incentive in health surveys [ISRCTN32203485

    Directory of Open Access Journals (Sweden)

    Bridge P

    2004-11-01

    Full Text Available Abstract Background Postal questionnaires are an economical and simple method of data collection for research purposes but are subject to non-response bias. Several studies have explored the effect of monetary and non-monetary incentives on response. Recent meta-analyses conclude that financial incentives are an effective way of increasing response rates. However, large surveys rarely have the resources to reward individual participants. Three previous papers report on the effectiveness of lottery incentives with contradictory results. This study aimed to determine the effect of including a lottery-style incentive on response rates to a postal health survey. Methods Randomised controlled trial. Setting: North and West Birmingham. 8,645 patients aged 18 or over randomly selected from registers of eight general practices (family physician practices. Intervention: Inclusion of a flyer and letter with a health questionnaire informing patients that returned questionnaires would be entered into a lottery-style draw for £100 of gift vouchers. Control: Health questionnaire accompanied only by standard letter of explanation. Main outcome measures: Response rate and completion rate to questionnaire. Results 5,209 individuals responded with identical rates in both groups (62.1%. Practice, patient age, sex and Townsend score (a postcode based deprivation measure were identified as predictive of response, with higher response related to older age, being female and living in an area with a lower Townsend score (less deprived. Conclusion This RCT, using a large community based sample, found that the offer of entry into a lottery style draw for £100 of High Street vouchers has no effect on response rates to a postal health questionnaire.

  7. The Impact of Hybrid Electric Vehicles Incentives on Demand and the Determinants of Hybrid-Vehicle Adoption

    Science.gov (United States)

    Riggieri, Alison

    incentives. Overall, these results suggest automobile manufacturing did not impact whether these policies were implemented, nor were they implemented to address air quality issues or gas price increases. Rather these policies were responses to popular support for hybrid vehicles. In addition, this dissertation identifies the average treatment effect of these incentives on state-level demand for hybrid vehicles. These effects are estimated using traditional parametric techniques, difference-in-difference regression, and fixed effects on two comparison groups: (1) the natural control group, states that did not adopt subsidies, and (2) a constructed control group, states that proposed subsidies during this same time period but did not adopt them. In addition to these parametric models, propensity score matching was used to construct a third comparison group using the models that identified determinants of the policy adoption. These findings were supplemented by exploratory analyses using the individual-level National Household Travel Survey. This multitude of evaluative analyses shows that overall, monetary hybrid incentives are not overwhelming effective in promoting the diffusion of this technology, but that HOV lane exemptions, however, if implemented in places with high traffic congestion, were found to impact aggregate demand and an individual's propensity to adopt a hybrid. The other two types of incentives, sales tax exemptions and income tax credits, were not found to be effective at the aggregate or the individual level. In addition, travel behavior was found to strongly predict adoption, more so than socioeconomic variables, stated attitudes, or characteristics of the built environment. The number of walking trips per month and the number of times a person used public transportation were found to be significant predictors of hybrid adoption, implying the decision to adopt a hybrid includes factors other than purely economic ones, such as environmental attitudes. These

  8. Il sistema dei controlli monetari e creditizi in Francia.

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    G.R. HODGMAN

    2014-08-01

    Full Text Available The article presents French monetary and credit controls as a coherent system, displays the inner logic of this system and evaluates its implications for policy objectives related to growth, the price level and balance-of-payments. The French system is sufficiently different from other countries in the degree of “socialisation” of credit and direct administrative intervention by the authorities into credit affairs. The effects of traditional operations such as open market purchases cannot be understood in the French environment without a grasp of certain features of French financial institutions. Moreover, the French authorities assign priority to selective credit policy as distinct from general monetary policy and are permitted to intervene in the free play of financial market forces through administrative measures.JEL: E52, E31, F32

  9. Proactive motor control reduces monetary risk taking in gambling.

    Science.gov (United States)

    Verbruggen, Frederick; Adams, Rachel; Chambers, Christopher D

    2012-07-01

    Less supervision by the executive system after disruption of the right prefrontal cortex leads to increased risk taking in gambling because superficially attractive-but risky-choices are not suppressed. Similarly, people might gamble more in multitask situations than in single-task situations because concurrent executive processes usually interfere with each other. In the study reported here, we used a novel monetary decision-making paradigm to investigate whether multitasking could reduce rather than increase risk taking in gambling. We found that performing a task that induced cautious motor responding reduced gambling in a multitask situation (Experiment 1). We then found that a short period of inhibitory training lessened risk taking in gambling at least 2 hr later (Experiments 2 and 3). Our findings indicate that proactive motor control strongly affects monetary risk taking in gambling. The link between control systems at different cognitive levels might be exploited to develop new methods for rehabilitation of addiction and impulse-control disorders.

  10. Taylor rule and EMU Monetary Policy Determination and ECB's Preferences

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    Svatopluk Kapounek

    2006-01-01

    Full Text Available The aim of the article is to evaluate the preferences of the ECB in monetary policy and to compare them with preferences of the central banks of new EU member countries from Central and Eastern Europe. The ECB's responsibility for the primary objective (price stability often contrasts with the requirement for economic growth stabilization policy from the national governments. There are doubts if the current members of Eurozone constitute an optimum currency area (the Eurozone 12 is recently the combination of rapidly growing and slow-growing - low inflationary countries. The differences between the countries will even expand during the European monetary union enlargement by new EU member countries. Consequently the probability of asymmetric shocks will increase. The main question is the ability of ECB to fulfill the needs of all EMU member countries in terms of optimal monetary policy. In the first part the authors analyze differences between the preferences of the ECB and national authorities (governments. The negative experiences of Ireland, Italy and other EMU members with current status quo help us to understand fear of future member countries from possible impact of common monetary policy on their national economies. The second part of the paper deals with interest rates determination by ECB and compares it with expectations (requirements from EMU member and EMU candidate countries. The main contribution of the article may be seen in central bank's preferences analyses – the preferences are defined as the parameters in Taylor rule (the weights given by ECB and national authorities to the price stability and economic growth stimulation. The hypothesis is defined as following: are the preferences of ECB in line with the preferences of national central banks of EMU candidate countries? The empirical analysis is based on the Taylor rule decomposition. The hypothesis is tested by regression analysis. Time series regression model uses relations

  11. Estimation of transmission mechanism of monetary policy in Serbia

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    Bungin Sanja

    2015-01-01

    Full Text Available Transmission mechanism of monetary policy recently has been subject to several studies in Serbia. The so called 'black box' of monetary policy is investigated with aim to identify the effects of transmission channel in environment where exchange rate has a dominant role in central bank operations. Therefore, it is a challenge to approach this problem in inflation targeting regime where key interest rate is expected to prevail as a main policy instrument. The study employs unrestricted Vector Autoregression model for estimating significance of exchange rate and interest rate channel. As expected, exchange rate has far more stronger influence on inflation, even though there are some signs of interest rate channel existence. Introducing Euribor as endogenous variables in VAR system displayed important impact on real variables.

  12. Monetary Romanticism, Currency and Central Banks in the Nineteenth Century

    DEFF Research Database (Denmark)

    Ravn Sørensen, Anders

    How do monetary institutions, such as currencies and central banks, interrelate to the construction of national communities? Using the national conflict between the Danish state and the Duchies of Schleswig-Holstein in the nineteenth century as an exemplary case, this article demonstrates how both...... banks and currencies were mobilized as political symbols to promote an agenda of regional nationalism. In the article I show how the local Schleswig-Holstein currency and the local Schleswig-Holsteinische Landsbank became symbolic antagonists to the Danish central bank and the official state......-sanctioned currency – which by Danish politicians were considers key elements in the attempt to consolidate the Danish nation-state. The article highlights the symbolic qualities of monetary institutions and offers an example of the interrelation between currencies, banks and nations. Through an empirical analysis...

  13. Is Economic Development Promoting Monetary Integration in East Asia?

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    Kentaro Kawasaki

    2015-10-01

    Full Text Available This paper tries to investigate whether there exist international integrated markets among East Asian economies, by employing the Generalized Purchasing Power Parity (G-PPP model, then, it would help to suggest whether the East Asian region is the Optimum Currency Area (OCA or not. The empirical results in this paper suggest that holding the G-PPP among nine Asian countries (China, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam becomes more applicable in 2000–2013 than of that in 1984–1997. In the period of “globalization,” which is characterized by expansion of world trade, increase of international capital flows, and development of information and communications technologies, Asian economic development has been promoting not only economic integrations but also constructing the stable linkages of real exchange rates. Therefore, it would help to adopt regional coordination for monetary policies to assure the feasibility of a possible monetary union.

  14. Monetary strategies from the perspective of intermediate objectives

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    Neupauerová Marianna

    2007-01-01

    Full Text Available Central bank can apply different kinds of monetary strategies. This paper analyses monetary strategy from the perspective of intermediate objectives. Right strategy should help to fulfill targeted goals. However, it is not easy to choose right strategy in right moment under certain economic conditions. This paper summarizes basic principles, advantages, and disadvantages of four main strategies. Thus, it should simplify choice of the optimal one. Some practical aspects are explained through experience of several central banks and especially through example of the National Bank of Slovakia that applied gradually different strategies. These modifications were influenced by specific evolution of Slovak economy that has been typical for countries in transition. Thus, its experience can serve other countries that are in the beginning of transition process.

  15. Monetary Policy Approaches Taking into Consideration the Current Economic Context

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    Anca Maria GHERMAN

    2010-12-01

    Full Text Available Questions of interest among monetary policy makersinvolves the identification and analysis of various relationships betweenmacroeconomic variables. To analyze these variables and theirinterrelations it is necessary to build a macroeconomic model which isbased on a vector autoregressive, and in which exogenous shocks haveimpact on the study variables. How exogenous variables affect thevariables of interest represent the transmission mechanisms. Estimates ofthe transmission mechanism has been considered traditionally, one of themajor objectives of many macroeconomic studies. Such empiricalresearchers have obtained two major conclusions: first, that thetransmission mechanism varies over time and the second is that theexogenous shocks change over time. Modeling these variables canintercept all these variations? The conclusions of these models aresufficient for monetary policy makers?

  16. Estimating Acceptability of Financial Health Incentives

    Science.gov (United States)

    Bigsby, Elisabeth; Seitz, Holli H.; Halpern, Scott D.; Volpp, Kevin; Cappella, Joseph N.

    2017-01-01

    A growing body of evidence suggests that financial incentives can influence health behavior change, but research on the public acceptability of these programs and factors that predict public support have been limited. A representative sample of U.S. adults (N = 526) were randomly assigned to receive an incentive program description in which the…

  17. Contributions on monetary and financial issues: an introduction

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    Alessandro Roncaglia

    2010-01-01

    Full Text Available The present issue of PSL Quarterly Review includes three articles: by Mario Sarcinelli, on the need for structural regulations on financial institutions in order to avoid a new systemic crisis; by Mario Tonveronachi, on the limits of the official regulatory responses to the current crisis; by Hossein Askari and Noureddine Krichene, on the inflationary pressures in world commodity markets stemming from expansionary monetary policy.

  18. Asymmetric expectation effects of regime shifts in monetary policy

    OpenAIRE

    Zheng Liu; Daniel F. Waggoner; Tao Zha

    2008-01-01

    This paper addresses two substantive issues: (1) Does the magnitude of the expectation effect of regime switching in monetary policy depend on a particular policy regime? (2) Under which regime is the expectation effect quantitatively important? Using two canonical DSGE models, we show that there exists asymmetry in the expectation effect across regimes. The expectation effect under the dovish policy regime is quantitatively more important than that under the hawkish regime. These results sug...

  19. The economic and monetary union countries vs. the global crisis

    OpenAIRE

    Kowalski, Tadeusz

    2012-01-01

    The global financial and economic crisis revealed institutional weaknesses and structural problems of particular Economic and Monetary Union (EMU) countries. The crisis and slowdown that followed had an impact on their relative competitiveness. Financial and economic turbulences of recent years shed new light on the scale and scope of interdependences in the world economy. They uncovered economic and institutional flaws of the very EMU itself. The paper focuses on EMU countries real sector re...

  20. Unemployment, Imperfect Risk Sharing, and the Monetary Business Cycle.

    OpenAIRE

    Gregory Erin Givens

    2007-01-01

    This paper examines the impact of unemployment insurance on the propagation of monetary disturbances in a staggered price model of the business cycle. To motivate a role for risk sharing behavior, I construct a quantitative equilibrium model that gives prominence to an efficiency-wage theory of unemployment based on imperfectly observable labor effort. Dynamic simulations reveal that under a full insurance arrangement, staggered price-setting is incapable of generating persistent real effects...