Suchergebnisse

__Abstract__ Long-term care (ltc) aims to help individuals to cope with their impairments. In my thesis, I describe ltc financing alternatives and their consequences for the allocation of ltc. This thesis consists of two parts. In the first part, I investigate how alternative ways of financing and organizing ltc are associated with differences in ltc use. In the second part of this thesis, I study how the government may intervene to keep ltc affordable and efficient.

In quick succession, three sets of figures about the possible future of the British economy have been published. In July, the latest in the series of Programme for Growth volumes, describing the research being undertaken in Cambridge under the directorship of Professor J. R. N. Stone, appeared under the title Exploring 1970. The Cambridge calculations (hereafter referred to as SAM—Social Accounting Matrix) start with the economy as it was in 1960 and present a possibility for 1970 which can be expressed in terms of annual compound rates of growth over the decade for sectors of the national product and for particular industries. The National Institute study, published in September as The British Economy in 1975, (hereafter referred to as BECKERMAN) also starts with the actuality of 1960 but extends the look into the future as far as 1975. The National Plan, published in September, and prepared by the Department of Economic Affairs (hereafter called PLAN), takes the actual figures of 1964 as the base and looks forward to 1970.

AbstractThis paper extends the work in Serletis [Serletis, A. (1992). Unit root behavior in energy futures prices. The Energy Journal 13, 119–128] by re‐examining the empirical evidence for random walk type behavior in energy futures prices. It tests for fractional integrating dynamics in energy futures markets utilizing more recent data (from January 3, 1994 to June 30, 2005) and a new semi‐parametric wavelet‐based estimator, which is superior to the more prevalent GPH estimator (on the basis of Monte‐Carlo evidence). We find new evidence that energy prices display long memory and that the particular form of long memory is anti‐persistence, characterized by the variance of each series being dominated by high frequency (low wavelet scale) components.

This article analyzes the allocation of the government budget to civilian and military expenditure by two rival countries that are involved in an arms race. We compare the consequences of myopic (period by period) planning versus rational (long-term) planning and show that although myopic planning is always favorable for both countries, they are likely to become locked in a prisoners' dilemma equilibrium in which they plan rationally. The prisoners' dilemma equilibrium results in higher stocks of weapon systems and lower welfare for both countries. We also find some evidence of the existence of a prisoners' dilemma equilibrium in the current Israeli-Syrian arms race. Generally, this article suggests that solving military/political conflicts that evolve into an arms race by relying only on military might is an expensive and suboptimal solution. Each country should identify this phenomenon and attempt to take it into account in its decisionmaking by using appropriate policy alternatives. There are two major policy options in this case. The first option is to reach some kind of agreement with the rival (directly or through a third party). The second option is to institute force multipliers techniques.

Discusses the use of private sector money to finance the public services and facilities in New South Wales. Personal experience as a member of the Public Accounts Committee is drawn on to address risk, success, and benefits of using private financing on the basis of a visit to the United Kingdom National Audit Office.