SciCombinator

Discover the most talked about and latest scientific content & concepts.

Concept: Macroeconomics

809

Is existing provision of health services in Europe affordable during the recession or could cuts damage economic growth? This debate centres on whether government spending has positive or negative effects on economic growth. In this study, we evaluate the economic effects of alternative types of government spending by estimating “fiscal multipliers” (the return on investment for each $1 dollar of government spending).

Concepts: Medicine, Economics, Investment, Gross domestic product, Macroeconomics, Late-2000s recession, Rate of return, Government spending

201

Taxes on sugar-sweetened beverages (SSBs) meant to improve health and raise revenue are being adopted, yet evaluation is scarce. This study examines the association of the first penny per ounce SSB excise tax in the United States, in Berkeley, California, with beverage prices, sales, store revenue/consumer spending, and usual beverage intake.

Concepts: United States, U.S. state, Macroeconomics, United States dollar, Indirect tax, Taxation in the United States, Consumption, Consumer spending

180

This article examines the influence of the business cycle on expenditures of three major types of legalized gambling activities: Casino gambling, lottery, and pari-mutuel wagering. Empirical results are obtained using monthly aggregated US per capita consumption time series for the period 1959.01-2010.08. Among the three gambling activities only lottery consumption appears to be recession-proof. This series is characterized by a vast and solid growth that exceeds the growth in income and the growth in other gambling sectors. Casino gambling expenditures show a positive growth during expansions and no growth during recessions. Hence, the loss in income during recessions affects casino gambling. However, income shocks which are not directly related to the business cycle do not influence casino gambling expenditures. Pari-mutuel wagering displays an overall negative trend and its average growth rate is smaller than the growth in income, especially during recessions. The findings of this article provide important implications for the gambling industry and for local governments.

Concepts: Gambling, Macroeconomics, Casino, Nevada, Business cycle, Parimutuel betting, Comps, Poker

169

Most economic theories are based on the premise that individuals maximize their own self-interest and correctly incorporate the structure of their environment into all decisions, thanks to human intelligence. The influence of this paradigm goes far beyond academia-it underlies current macroeconomic and monetary policies, and is also an integral part of existing financial regulations. However, there is mounting empirical and experimental evidence, including the recent financial crisis, suggesting that humans do not always behave rationally, but often make seemingly random and suboptimal decisions.

Concepts: Economics, Science, Mammal, Philosophy of science, Macroeconomics, Unemployment, Monetary policy, Rational choice theory

56

A period of economic recession may be particularly difficult for people with mental health problems as they may be at higher risk of losing their jobs, and more competitive labour markets can also make it more difficult to find a new job. This study assesses unemployment rates among individuals with mental health problems before and during the current economic recession.

Concepts: Mental disorder, Macroeconomics, Unemployment, Late-2000s recession, Recession, Inflation, Labour economics, Business cycle

48

Mobile money, a service that allows monetary value to be stored on a mobile phone and sent to other users via text messages, has been adopted by the vast majority of Kenyan households. We estimate that access to the Kenyan mobile money system M-PESA increased per capita consumption levels and lifted 194,000 households, or 2% of Kenyan households, out of poverty. The impacts, which are more pronounced for female-headed households, appear to be driven by changes in financial behavior-in particular, increased financial resilience and saving-and labor market outcomes, such as occupational choice, especially for women, who moved out of agriculture and into business. Mobile money has therefore increased the efficiency of the allocation of consumption over time while allowing a more efficient allocation of labor, resulting in a meaningful reduction of poverty in Kenya.

Concepts: Estimator, Economics, Employment, Mobile phone, Text messaging, Macroeconomics, Labour economics, Jacob Mincer

27

“In the long run,” the economist John Maynard Keynes wryly observed in his 1923 A Tract on Monetary Reform, “we are all dead.” Given the logistic barriers to performing long-term studies of immunosuppression in kidney-transplant recipients, as well as the associated expense, many transplant professionals are similarly pessimistic about how to determine adequate long-term regimens in the current era, in which short-term results are excellent but late transplant loss remains a vexing problem. More than 14,000 of the 101,000 patients listed for kidney transplantation are awaiting repeat transplantation.(1) Mechanisms of late transplant loss remain under investigation; toxic effects of . . .

Concepts: Macroeconomics, Joseph Schumpeter, Keynesian economics, History of economic thought, John Maynard Keynes, Donald Markwell, Lydia Lopokova

24

Abstract. To date, existing studies focus largely on the economic detriments of malaria. However, if we are to create suitable incentives for larger-scale, more sustained anti-malaria efforts from a wider group of stakeholders, we need a much better understanding of the economic benefits of malaria reduction and elimination. Our report seeks to rectify this disjuncture by showing how attaining the funding needed to meet internationally agreed targets for malaria elimination would, on conservative assumptions, generate enormous economic improvements. We use a cost-benefit analysis anchored in Global Malaria Action Plan projections of malaria eradication based on fully met funding goals. By calculating the value of economic output accrued caused by work years saved and subtracting the costs of intervention, we find that malaria reduction and elimination during 2013-2035 has a 2013 net present value of US $208.6 billion.

Concepts: Costs, Economics, Cost, Investment, Cost-benefit analysis, Macroeconomics, Net present value, Mathematical finance

23

Domestic public debate continues over the economic impacts of environmental regulations that require environmental restoration. This debate has occurred in the absence of broad-scale empirical research on economic output and employment resulting from environmental restoration, restoration-related conservation, and mitigation actions - the activities that are part of what we term the “restoration economy.” In this article, we provide a high-level accounting of the size and scope of the restoration economy in terms of employment, value added, and overall economic output on a national scale. We conducted a national survey of businesses that participate in restoration work in order to estimate the total sales and number of jobs directly associated with the restoration economy, and to provide a profile of this nascent sector in terms of type of restoration work, industrial classification, workforce needs, and growth potential. We use survey results as inputs into a national input-output model (IMPLAN 3.1) in order to estimate the indirect and induced economic impacts of restoration activities. Based on this analysis we conclude that the domestic ecological restoration sector directly employs ~ 126,000 workers and generates ~ $9.5 billion in economic output (sales) annually. This activity supports an additional 95,000 jobs and $15 billion in economic output through indirect (business-to-business) linkages and increased household spending.

Concepts: Economics, Value added, Employment, Sustainability, Ecological economics, Macroeconomics, National accounts, Consumer spending

18

It is widely acknowledged that austerity measures in the wake of the global financial crisis are starting to undermine population health results. Yet, few research studies have focused on the ways in which the financial crisis and the ensuing ‘Great Recession’ have affected health equity, especially through their impact on social determinants of health; neither has much attention been given to the health consequences of the fiscal austerity regime that quickly followed a brief period of counter-cyclical government spending for bank bailouts and economic stimulus. Canada has not remained insulated from these developments, despite its relative success in maneuvering the global financial crisis.

Concepts: Financial crisis, Macroeconomics, Monetary policy, International Monetary Fund, Great Depression, Financial crisis of 2007–2010, Bailout, Austerity