Home  About us  Contact
 

Current Spending (current + spending)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting80%

Selected Abstracts

Cost-effectiveness of interventions to prevent alcohol-related disease and injury in Australia

ADDICTION, Issue 10 2009
Linda Cobiac
ABSTRACT Aims To evaluate cost-effectiveness of eight interventions for reducing alcohol-attributable harm and determine the optimal intervention mix. Methods Interventions include volumetric taxation, advertising bans, an increase in minimum legal drinking age, licensing controls on operating hours, brief intervention (with and without general practitioner telemarketing and support), drink driving campaigns, random breath testing and residential treatment for alcohol dependence (with and without naltrexone). Cost-effectiveness is modelled over the life-time of the Australian population in 2003, with all costs and health outcomes evaluated from an Australian health sector perspective. Each intervention is compared with current practice, and the most cost-effective options are then combined to determine the optimal intervention mix. Measurements Cost-effectiveness is measured in 2003 Australian dollars per disability adjusted life year averted. Findings Although current alcohol intervention in Australia (random breath testing) is cost-effective, if the current spending of $71 million could be invested in a more cost-effective combination of interventions, more than 10 times the amount of health gain could be achieved. Taken as a package of interventions, all seven preventive interventions would be a cost-effective investment that could lead to substantial improvement in population health; only residential treatment is not cost-effective. Conclusions Based on current evidence, interventions to reduce harm from alcohol are highly recommended. The potential reduction in costs of treating alcohol-related diseases and injuries mean that substantial improvements in population health can be achieved at a relatively low cost to the health sector. [source]

Eine Gabe an St. Nimmerlein?, Zur zeitlichen Dimension der Schuldenbremse

PERSPEKTIVEN DER WIRTSCHAFTSPOLITIK, Issue 3 2010
Friedrich Heinemann
We consider two scenarios: a proportional income shock and a shock on employment which increases the rate of unemployment. We find that automatic stabilizers absorb 38 per cent of a proportional income shock in the EU, compared to 32 per cent in the US. In the case of an unemployment shock 48 per cent of the shock is absorbed in the EU, compared to 34 per cent in the US. Under the assumption that only credit constrained households adjust current spending on consumption goods to current disposable income, the cushioning of disposable income leads to a demand stabilization of 26 to 35 per cent in the EU and 19 per cent in the US. There is large heterogeneity within the EU. Automatic stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. With respect to income stabilization, Germany is above the European average for both scenarios. Demand stabilization in Germany is weaker because the number of liquidity constrained households is below the EU average. [source]

Wie wirken die automatischen Stabilisatoren in der Wirtschaftskrise?

PERSPEKTIVEN DER WIRTSCHAFTSPOLITIK, Issue 2 2010
Deutschland im Vergleich zu anderen EU-Staaten und den USA
We consider two scenarios: a proportional income shock and a shock on employment which increases the rate of unemployment. We find that automatic stabilizers absorb 38 percent of a proportional income shock in the EU, compared to 32 percent in the US. In the case of an unemployment shock 48 percent of the shock is absorbed in the EU, compared to 34 percent in the US. Under the assumption that only credit constrained households adjust current spending on consumption goods to current disposable income, the cushioning of disposable income leads to a demand stabilization of 26 to 35 percent in the EU and 19 percent in the US. There is large heterogeneity within the EU. Automatic stabilizers in Eastern and Southern Europe are much lower than in Central and Northern European countries. With respect to income stabilization, Germany is above the European average for both scenarios. Demand stabilization in Germany is weaker because the number of liquidity constrained households is below the EU average. [source]

The Impact of Deregulation and Financial Innovation on Consumers: The Case of the Mortgage Market

THE JOURNAL OF FINANCE, Issue 1 2010
KRISTOPHER S. GERARDI
ABSTRACT We develop a technique to assess the impact of changes in mortgage markets on households, exploiting an implication of the permanent income hypothesis: The higher a household's expected future income, the higher its desired consumption, ceteris paribus. With perfect credit markets, desired consumption matches actual consumption and current spending forecasts future income. Because credit market imperfections mute this effect, the extent to which house spending predicts future income measures the "imperfectness" of mortgage markets. Using micro-data, we find that since the early 1980s, mortgage markets have become less imperfect in this sense, and securitization has played an important role. [source]

Debt, Growth and Budgetary Regimes

BULLETIN OF ECONOMIC RESEARCH, Issue 3 2004
Sugata Ghosh
E62; H41; O40 Abstract Within the Barro (1990) model of productive public services, but with the inclusion of public debt, we derive and characterize on the balanced growth path, a set of welfare-maximizing fiscal rules under two budgetary regimes , one with only the standard dynamic government budget constraint, and the other involving the golden rule of public finance. We demonstrate analytically that the optimal fiscal policy differs in the two budgetary regimes considered. We also analyse two cases within the second regime: one, where the ratio of current spending to tax revenues is parametrically given, and another, where this ratio is optimally chosen by the government. [source]