Economics

Valuation of Physician and Ambulatory Care Practices

Valuation of Physician and Ambulatory Care Practices
Healthcare Financial Management, June .

Schwartzben, Dov & Finkler, S.A.
01/01/1998

Explains several accounting approaches for healthcare organizations planning to acquire physician and ambulatory care practices. Acquisition arrangements; Historical cost; Constant dollar value; Replacement/economic cost; Opportunity-cost approach; Income approach; Enhancement opportunities.

Visits to Specialists Under Medicare: Socioeconomic Advantage and Access to Care

Visits to Specialists Under Medicare: Socioeconomic Advantage and Access to Care
J Health Care for the Poor and Underserved. 1998;9:153-169.

Blustein, J. & Weiss, L.J.
01/01/1998

This study examines the relationship between socioeconomic advantage and the likelihood of receiving specialty care in a nationally representative sample of older Americans participating in fee-for-service Medicare. In 1992, 62.9 percent of Americans aged 65 and older visited a specialist physician at least once. Being white, having more education, and having a higher income were each independently associated with a higher likelihood of visiting a specialist. Having insurance to supplement basic Medicare coverage was also independently associated with an increased likelihood of visiting a specialist; disadvantaged elders are less likely to have such supplemental insurance. Therefore, based both upon socioeconomic disadvantage and a lack of insurance to supplement the basic Medicare benefit, black, less educated and low-income elders are less likely to receive specialty services under fee-for-service Medicare. As the program evolves, it will be important to continue to monitor access to specialty care in vulnerable, socioeconomically disadvantaged populations.

Where Youth Live: Effects of Urban Space on Employment

Where Youth Live: Effects of Urban Space on Employment
Urban Studies, Jun98, Vol. 35 Issue 7, p1187-1205, 19p, 8 charts, 3 graphs, 1 map

O'Regan, K. & Quigley, J.M.
01/01/1998

This paper synthesises a series of empirical analyses investigating the role of urban space in affecting minority employment outcomes. It broadens the focus beyond transport and the 'friction of space' and expands the data available for spatial research. The empirical analyses share a common framework linking 'access' to youth labour market performance. The first set of results is based on aggregate data relating access to employment outcomes for black youth at the metropolitan level. Access is broadly defined to include traditional measures of geographical distance, as well as measures of social isolation or social access. Metropolitan areas in which the black poor are more spatially isolated are also found to have higher black youth unemployment rates. The second body of evidence relies on the same type of metropolitan measures, combined with individual data on youth living with at least one parent. When individual and family characteristics are controlled for, and white and Hispanic youth are also considered, metropolitan measures of social access exert distinguishable effects upon youth employment-youth living in urban areas in which they have less residential contact with whites or the non-poor are less likely to be employed. The final piece of analysis links the individual records of such youth to tract-level measures of access, both social (neighbourhood composition variables) and geographical (job-access measures). This is accomplished through the creation of a unique data set at the Bureau of the Census. Again, after controlling for individual and family characteristics, the residential conditions of youth affect their employment. Ceteris paribus, youth living in census tracts with fewer employed adults, with fewer whites, and which are further from jobs are less likely to be employed. Results suggest that the overall effects of space on employment outcomes are substantial, explaining 10-40 per cent of the observed racial differences in employment in...

Marketing Racism: The Imperialism of Rationality, Critical Race Theory, and Some Interdisciplinary Lessons for Neoclassical Economics

Marketing Racism: The Imperialism of Rationality, Critical Race Theory, and Some Interdisciplinary Lessons for Neoclassical Economics
Virginia Journal of Social Policy and The Law, v. 5, n. 1 (1997)

Anthony M. Bertelli
01/01/1997

Housing Partnerships: A New Approach to a Market at a Crossroads

Housing Partnerships: A New Approach to a Market at a Crossroads
Cambridge and London: MIT Press, pages xiv, 265.

Andrew Caplin, Sewin Chan, Charles Freeman & Joseph Tracy
01/01/1997

A revolutionary housing finance concept can help many more Americans buy the homes of their dreams, while simultaneously furnishing vast, new investment opportunities for financial institutions and investors. The idea: enable consumers to purchase part of a home through a new type of financing called Housing Partnership agreements.

Housing Partnerships: A New Approach to a Market at Crossroads provides a blueprint for the development of this alternative housing finance market, and offers a new and compelling housing finance option: instead of the existing two housing options -- renting or buying an entire dwelling -- would-be home owners can finance a percentage of a property, while the other portion is financed by institutional investors, who provide capital for the house in exchange for a proportion of the final sale price.

The home buyer (Managing Partner) and a financial institution (Limited Partner) would each own a fixed proportion of the home, resulting in co-ownership of the property. The Managing Partner would live in the entire home and when the house is sold, potential proceeds are split with the Limited Partner.

Housing Partnerships: A New Approach to a Market at a Crossroads proposes adapting the same legal form used successfully by commercial enterprises for the residential housing market. Why can't individual home owners, just like businesses, avail themselves to the benefits of this type of ownership? Why is the U.S. housing market the only one in which there is no way to sell any part of the return stream to other investors?

Housing Partnerships: A New Approach to a Market at a Crossroads has ideas to interest a range of readers, from prospective home buyers to realtors, from financial investors to those interested in housing and social policy development.

 

Making Progress in Relating Values, Goals, and Outcomes in the Evaluation of Local Economic Development Policy

Making Progress in Relating Values, Goals, and Outcomes in the Evaluation of Local Economic Development Policy
Economic Development Quarterly, Vol. 11, No. 3.

Smoke, P.
01/01/1997

Laura Reese and David Fasenfest highlight important conceptual, technical, and procedural issues regarding the relationship between values, goals, and results in the analysis of local economic development. Less insight is provided on how to make progress in resolving the difficult problems they outline. Experiences in developing countries, where analysts have long wrestled with similar concerns, indicate that improvements in designing, implementing, and evaluating local economic development policies can be realized by focusing on certain types of procedural reforms, including the use of multidisciplinary ex-ante policy appraisal; the adoption of a more broadly inclusive process to define, implement, and monitor local economic development policies; and greater emphasis on analysis of the specific institutional context in which local economic development policies must function. Recent work in the United States also suggests that policy makers should direct more attention to the critical problem of enforcing local economic development policy.

Using Mixture Models to Detect Sex Bias in Health Outcomes in Bangladesh

Using Mixture Models to Detect Sex Bias in Health Outcomes in Bangladesh
Journal of Econometrics 77 (1), March, 259-276.

Morduch, J. & Stern, H.
01/01/1997

Many interesting economic hypotheses entail differences in behaviors of groups within a population, but analyses of pooled samples shed only partial light on underlying segmentations. Finite mixture models are considered as an alternative to methods based on pooling. Robustness checks using t-regressions and a Bayesian analogue to the likelihood ratio test for model evaluation are developed. The methodology is used to investigate pro-son bias in child health outcomes in Bangladesh. While regression analysis on the entire sample appears to wash out evidence of bias, the mixture models reveal systematic girl-boy differences in health outcomes.

Residential Mobility and Mortgages

Residential Mobility and Mortgages
Regional Science and Urban Economics 26(3-4), June 1996, pages 287-311.

Sewin Chan
06/01/1996

Mortgage applications are a detailed and accurate source of household information that is verified by underwriters, making it a more accurate data source than self-reported survey answers. This paper discusses how mortgage data can be applied to areas of economics outside mortgage finance. As a supplement to variables from the application form, the self-selection of mortgage points is used to infer expected mobility. A duration model of housing spells is estimated, and the points indicator is shown to be highly significant in predicting mobility for low loan-to-value borrowers. The findings demonstrate the potential fruitfulness of using this new data source.

Public Infrastructure, Private Input Demand and Economic Performance in New England Manufacturing

Public Infrastructure, Private Input Demand and Economic Performance in New England Manufacturing
Journal of Business and Economic Statistics, Vol. 14, No. 1, Jan, pp 91-102.

Schwartz, A.E. & Morrison, C.
01/01/1996

Much of the current debate on the economic performance impacts of public infrastructure investment relates to the input-specific effects of such investment. In this article we explore these impacts by evaluating substitution patterns affecting private input use in New England manufacturing. Using a cost-based methodology, we find that, in the short run, public capital expenditures provide cost-saving benefits that exceed the associated investment costs due to substitutability between public capital and private inputs. Over time, however, stimulating investment in private capital increases economic performance more effectively than public capital expenditures alone and in fact reduces the cost incentive for such expenditures. In addition, growth in output motivated by infrastructure investment increases employment opportunities because this growth overrides short-run substitutability.

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