scholarly journals The Cost Channel of Monetary Policy: Further Evidence for the United States and the Euro Area

2003 ◽  
Author(s):  
Pau Rabanal
Keyword(s):  
United States ◽  
Monetary Policy ◽  
Euro Area ◽  
The United States ◽  
Cost Channel ◽  
The Cost

Global monetary policy divergence will emerge in 2016

2015 ◽  
Keyword(s):  
United States ◽  
Monetary Policy ◽  
Euro Area ◽  
Productivity Growth ◽  
Aggregate Demand ◽  
The United States ◽  
Policy Response ◽  
Market Conditions ◽  
Content Type ◽  
China’S Economy

Significance Despite a less dovish than expected policy response on the part of the ECB on December 3, monetary policy divergence between the Fed and the ECB is likely to heighten in 2016. While the euro remains up 3.3% against the dollar since December 2, prolonged policy divergence between the United States and the euro-area should underpin the dollar's strength. Impacts Fears about China's economy and the end of the commodity super-cycle will also shape market conditions in 2016. A recovery in productivity growth will allow monetary policy normalisation to proceed smoothly, boosting aggregate demand. A stronger dollar will help the ECB achieve its inflation goal, through a weaker euro. A stronger dollar will put further strain on EM assets, particularly in countries with large dollar-denominated corporate debt.

MONETARY POLICY AND SUNSPOT FLUCTUATIONS IN THE UNITED STATES AND THE EURO AREA

2012 ◽  
Vol 17 (1) ◽  
pp. 1-28 ◽  
Author(s):  
Yasuo Hirose
Keyword(s):  
United States ◽  
Monetary Policy ◽  
Euro Area ◽  
Open Economy ◽  
The United States ◽  
Dynamic Stochastic General Equilibrium ◽  
New Keynesian ◽  
Bayesian Techniques ◽  
Dynamic Stochastic ◽  
Substantial Degree

We estimate a two-country open economy version of the New Keynesian dynamic stochastic general equilibrium model for the United States and the Euro area, using Bayesian techniques that allow for both determinacy and indeterminacy of the equilibrium. Empirical analysis shows that the worldwide equilibrium is indeterminate due to a passive monetary policy in the Euro area, even if U.S. policy is aggressive enough. We demonstrate that the impulse responses under indeterminacy exhibit dynamics different from those under determinacy and that sunspot shocks affect the Euro economy to a substantial degree, whereas the transmission of sunspots to the United States is limited.

scholarly journals SWK-11. ASSESSMENT OF THE INDIRECT COSTS ASSOCIATED WITH PROTON THERAPY TREATMENT FOR ALBERTA PATIENTS REFERRED OUT OF COUNTRY

2020 ◽  
Vol 22 (Supplement_3) ◽  
pp. iii466-iii466
Author(s):  
Karina Black ◽  
Jackie Middleton ◽  
Sunita Ghosh ◽  
David Eisenstat ◽  
Samor Patel
Keyword(s):  
United States ◽  
Proton Therapy ◽  
Malignant Tumors ◽  
Indirect Costs ◽  
The United States ◽  
Current Data ◽  
Opportunity Costs ◽  
Proton Treatment ◽  
Out Of Pocket Expenses ◽  
The Cost

Abstract BACKGROUND Proton therapy for benign and malignant tumors has dosimetric and clinical advantages over photon therapy. Patients in Alberta, Canada are referred to the United States for proton treatment. The Alberta Heath Care Insurance Plan (AHCIP) pays for the proton treatment and the cost of flights to and from the United States (direct costs). This study aimed to determine the out-of-pocket expenses incurred by patients or their families (indirect costs). METHODS Invitation letters linked to an electronic survey were mailed to patients treated with protons between 2008 and 2018. Expenses for flights for other family members, accommodations, transportation, food, passports, insurance, and opportunity costs including lost wages and productivity were measured. RESULTS Fifty-nine invitation letters were mailed. Seventeen surveys were completed (28.8% response rate). One paper survey was mailed at participant request. Nine respondents were from parent/guardian, 8 from patients. All patients were accompanied to the US by a family member/friend. Considerable variability in costs and reimbursements were reported. Many of the accompanying family/friends had to miss work; only 3 patients themselves reported missed work. Time away from work varied, and varied as to whether it was paid or unpaid time off. CONCLUSIONS Respondents incurred indirect monetary and opportunity costs which were not covered by AHCIP when traveling out of country for proton therapy. Prospective studies could help provide current data minimizing recall bias. These data may be helpful for administrators in assessing the societal cost of out-of-country referral of patients for proton therapy.

scholarly journals The Effect of Massachusetts' Health Reform on Employer-Sponsored Insurance Premiums

2010 ◽  
Vol 13 (2) ◽  
Author(s):  
John F Cogan ◽  
R. Glenn Hubbard ◽  
Daniel Kessler
Keyword(s):  
United States ◽  
Health Reform ◽  
Medical Expenditure Panel Survey ◽  
Private Insurance ◽  
The United States ◽  
Medical Expenditure ◽  
Insurance Premiums ◽  
Reform Plan ◽  
The Difference ◽  
The Cost

In this paper, we use publicly available data from the Medical Expenditure Panel Survey - Insurance Component (MEPS-IC) to investigate the effect of Massachusetts' health reform plan on employer-sponsored insurance premiums. We tabulate premium growth for private-sector employers in Massachusetts and the United States as a whole for 2004 - 2008. We estimate the effect of the plan as the difference in premium growth between Massachusetts and the United States between 2006 and 2008—that is, before versus after the plan—over and above the difference in premium growth for 2004 to 2006. We find that health reform in Massachusetts increased single-coverage employer-sponsored insurance premiums by about 6 percent, or $262. Although our research design has important limitations, it does suggest that policy makers should be concerned about the consequences of health reform for the cost of private insurance.

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