How Were Conflicts of Interest Handled?

Conflicts of interest were potentially great but they were minimized by the great conviction from both Doctors and Health Ministry that something had to be done to improve data on perinatal health. To decrease the number of hospitals where deliveries took place, to concentrate doctors, nurses and equipment, to define staff and to acquire equipment and to train nurses and paediatricians was the way. One the point of view of cost-effectiveness, centralization of expensive technologies, and development of expertise concentrating cases in a same centre - Surgery, VLBW, etc- and lowering mortality rates and get better outcomes were clear health gains. In 1989 after the political decision of closing small maternities the committee return to villages and cities to explain to political local power and people, the decision, which kind of care they will have in the future, why and expected gains. Level I hospitals and Health Centers stop to have deliveries; Health Centers were given a great responsibility: the follow up of the most part of the normal pregnancies by GP. There was no economic pressure because the National Health Service is free, there are no economic incentives for obstetrical or neonatal care, hospitals are financed through ICD, hospital level is defined according to both delivery and newborn care. In 1989 the rule was “No results can be obtained without the interested and responsible participation of all – institutions and people”. At that time the emphasis was on training. There are geographic influences on regionalization for example for islands and inner and far geographic areas. Also we would like to emphasize the influence of demographics on regionalization. As birth rate continues to decrease the hospitals left open 20 years ago with more than 1500 deliveries have to be closed now because the number of deliveries decreased. It was much more difficult and unacceptable to close some few maternities now than 20 years ago. All the difference was that at that time reasons were explained and now it was a Minister order. Other fearful events are the opening of private hospitals, the lowering gross national income, the economic difficulties and financial problems.

Prices of medicines: a case-study on the impact of the rate-of-return regulation in the United Kingdom

This work carries out an empirical evaluation of the impact of the main mechanism for regulating the prices of medicines in the UK on a variety ofpharmaceutical price indices. The empirical evidence shows that the overall impact of the rate of return cap appears to have been slight or even null, and in any case that the impact would differ across therapeutic areas. These empiricalfindings suggest that the price regulation has managed to encourage UK-based firms¿ diversification in many therapeutic areas

Prison Return Rate Down, Data Download, Iowa Department of Corrections, October 2010

The Iowa Department of Corrections has set a goal to reduce the rate of return to prison – whether due to new convictions or technical violations – to 33.3%. Preliminary findings show that that goal has been achieved for FY 07 releasees, with recidivism rates the lowest among the three years studied.

Prison Return Rate Down, Data Download, Iowa Department of Corrections, October 2010

The Iowa Department of Corrections has set a goal to reduce the rate of return to prison – whether due to new convictions or technical violations – to 33.3%. Preliminary findings show that that goal has been achieved for FY 07 releasees, with recidivism rates the lowest among the three years studied.

Prison Return Rate Down-Again, Data Download, Department of Corrections

One of the key statistics that Iowa Corrections maintains to measure the success of our efforts is the three-year return-to-prison rate for offenders leaving prison and reentering the community. As the chart below shows, the rate for the three-year period from FY 2009 through FY 2012 is the lowest since this measure has been calculated.

Prices of medicines: a case-study on the impact of the rate-of-return regulation in the United Kingdom

This work carries out an empirical evaluation of the impact of the main mechanism for regulating the prices of medicines in the UK on a variety ofpharmaceutical price indices. The empirical evidence shows that the overall impact of the rate of return cap appears to have been slight or even null, and in any case that the impact would differ across therapeutic areas. These empiricalfindings suggest that the price regulation has managed to encourage UK-based firms¿ diversification in many therapeutic areas

Factors associated with 56-day non-return rate in dairy cattle

The objective of this work was to identify factors associated with the 56-day non-return rate (56-NRR) in dairy herds in the Galician region, Spain, and to estimate it for individual Holstein bulls. The experiment was carried out in herds originated from North-West Spain, from September 2008 to August 2009. Data of the 76,440 first inseminations performed during this period were gathered. Candidate factors were tested for their association with the 56-NRR by using a logistic model (binomial). Afterwards, 37 sires with a minimum of 150 first performed inseminations were individually evaluated. Logistic models were also estimated for each bull, and predicted individual 56-NRR rate values were calculated as a solution for the model parameters. Logistic regression found four major factors associated with 56-NRR in lactating cows: age at insemination, days from calving to insemination, milk production level at the time of insemination, and herd size. First-service conception rate, when a particular sire was used, was higher for heifers (0.71) than for lactating cows (0.52). Non-return rates were highly variable among bulls. Asignificant part of the herd-level variation of 56-NRR of Holstein cattle seems attributable to the service sire. High correlation level between observed and predicted 56-NRR was found.

Beyond the mincer equation: the internal rate of return to higher education in Colombia

In order to present an estimation of the Internal Rate of Return (IRR) to higher education in Colombia we take advantage of the methodological approach provided by Heckman, Lochner and Todd (2005). Trying to overcome the criticism that surrounds interpretations of the education coefficient of Mincer equations as being the rate of return to investments in education we develop a more structured approach of estimation, which controls for selection bias, includes more accurate measures of labor income and the role of education costs and income taxes. Our results implied a lower rate of return than the ones found in the Colombian literature and show that the Internal Rate of Return for higher education in Colombia lies somewhere between 0.074 and 0.128. The results vary according to the year analyzed and individual’s gender. This last result reinforces considerations regarding gender discrimination in the Colombian labor market.

Increasing Derivatives Market Activity in Emerging Markets and Exchange Rate Exposure

Understanding the effects of off-balance sheet transactions on interest and exchange rate exposures has become more important for emerging market countries that are experiencing remarkable growth in derivatives markets. Using firm level data, we report a significant fall in exposure over the past 10 years and relate this to higher derivatives market participation. Our methodology is composed of a three stage approach: First, we measure foreign exchange exposures using the Adler-Dumas (1984) model. Next, we follow an indirect approach to infer derivatives market participation at the firm level. Finally, we study the relationship between exchange rate exposure and derivatives market participation. Our results show that foreign exchange exposure is negatively related to derivatives market participation, and support the hedging explanation of the exchange rate exposure puzzle. This decline is especially salient in the financial sector, for bigger firms, and over longer time periods. Results are robust to using different exchange rates, a GARCH-SVAR approach to measure exchange rate exposure, and different return horizons.

The rate of return, rate base methods, and the regulatory constraint /

Bibliography: leaves 18-19.

Nagyobb kockázat, nagyobb növekedési ütem - kockázat nélkül nincs növekedés! Hozzászólás Thomas Piketty A tőke a 21. században című könyvéhez (Why are interest rates higher than growth rates? A comment on Thomas Piketty's Capital in the Twenty-First Century)

E rövid írás aktualitását az adja, hogy nemrégen jelent meg magyarul Thomas Piketty híres könyve: A tőke a 21. században. A könyv központi gondolata, hogy az elmúlt kétszáz év átlagában a gazdaság átlagos növekedési üteme, a g jelentősen elmarad az r értékétől, vagyis a tőke átlagos hozamától. A nevezetes r>g összefüggés egyik lehetséges oka, hogy az r szórása nagyobb, mint a g-é. A nagyobb szórás mögött nagyobb kockázati motívumok állhatnak. Ebből következően a Piketty által javasolt adókat jelentős mértékben a pénzügyi tőkének kellene viselnie. ____ The immediacy of this note derives from the fact that Picatty's famous Capital in the Twenty-First Century has been recently published in Hungarian. The central issue in the book is that taking the average of 200 years, the mean growth rate g is lower than the average return on capital r. One possible explanation of this famous r > g inequality may be that the standard deviation of r is greater than that of g because of the greater appetite for risk. The implication to draw from this is that financial capital should bear the majority of the taxes being suggested by Piketty.