Report of the Recreational Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Recreational Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Student Health Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Student Health Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Utility System Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Utility System Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Parking System Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Parking System Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Ice Arena Facility Revenue Note Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Ice Arena Facility Revenue Note Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Indoor Multipurpose Use and Training Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Indoor Multipurpose Use and Training Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Regulated Materials Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Regulated Materials Facility Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Memorial Union Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Memorial Union Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Athletic Facilities Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Report of the Athletic Facilities Revenue Bond Funds of Iowa State University of Science and Technology as of and for the year ended June 30, 2008

Growth accounting in items of turbulence and death: efficiency, technology, capital accumulation and human capital 1929-1950

We employ a non-parametrical approach to growth accounting (Data Envelopment Analysis,DEA) to disentangle the proximate sources of labour productivity growth in 41 nationsbetween 1929 and 1950 by decomposing productivity growth into four components:technological change; efficiency catch-up (movements towards the production frontier),capital accumulation and human capital accumulation. We show that efficiency catch-upgenerally explains productivity growth, whereas technological change and factoraccumulation were limited and distorted by the effects of war. War clearly hamperedefficiency. Moreover, an unbalanced ratio of human capital to physical capital (a gap to thetechnological leader) was crucial for efficiency catching-up.

Incentives and pharmaceutical reimbursement reforms in Spain

The aim of this paper is to assess whether cost-containment has beenaffected by recent pharmaceutical reimbursement reforms that have beenintroduced in the Spanish health care system over the period 1996-2002,under the conservative Popular Party government. Four main reimbursementpolicies can be observed in the Spanish pharmaceutical market after1996, each of them largely unintegrated with the other three. First, asecond supplementary negative list of excluded pharmaceutical productswas introduced in 1998. Second, a reference pricing system wasintroduced in December 2000, with annual updating and enlargement.Third, the pharmacies payment system has moved from the traditionalset margin on the consumer price to a margin that varies according tothe consumer price of the product, the generic status of the product,and the volume of sales by pharmacies. And fourth, general agreementsbetween the government and the industry have been reached with costcontainment objectives. In the final section of this paper we presentan overall assessment of the impact of these pharmaceuticalreimbursement policies on the behaviour of the agents in thepharmaceutical market.

Banking as an emerging technology: Hoare's Bank, 1702-1742

London s financial market underwent dramatic change after 1700. More limitedthan Paris or Amsterdam in the seventeenth century, London became the leadingfinancial centre in Europe in the eighteenth century. There is an extensive andgrowing literature on the causes of this change, but comparatively little on thechange itself. This article provides detailed information on the operation of theLondon financial market around 1700 by describing the operations of a nascentLondon bank.

Multinationals, technology networks and international takeovers

We formulate a knowlegde--based model of direct investment through mergers and acquisitions. M&As are realized to create comparative advantages by exploiting international synergies and appropriating local technology spillovers requiring geographical proximity, but can also represent a strategic response to the presence of a multinational rival. The takeover fee paid tends to increase with the strength of local spillovers which can thus work against multinationalization. Seller's bargaining power increases the takeover fee, but does not influence the investment decision. We characterize losers and winners from multinationalization, and show that foreign investment stimulates research but could result in a synergy trap reducing multinationals' profits.

R&D in the pharmaceutical industry: A world of small innovations

It is commonly argued that in recent years pharmaceutical companies have directed theirR&D towards small improvements of existing compounds instead of more risky drastic innovations. In this paper we show that the proliferation of these small innovations is likely to be linked to the lack of market sensitivity of a part of the demand to changes in prices. Compared to their social contribution, small innovations are relatively more profitable than large ones because they are targeted to the smaller but more inelastic part of the demand. We also study the effect of regulatory instruments such as price ceilings, copayments and reference prices and extend the analysis to competition in research.

Demand for pharmaceutical drugs: A choice modelling experiment

Despite the importance of supplier inducement and brand loyalty inthe drug purchasing process, little empirical evidence is to be foundwith regard to the influence that these factors exert on patients decisions. Under the new scenario of easier access to information,patients are becoming more demanding and even go as far asquestioning their physicians prescription. Furthermore, newregulation also encourages patients to adopt an active role in thedecision between brand-name and generic drugs. Using a statedpreference model based on a choice survey, I have found evidenceof how significant physicians prescription and pharmacists recommendation become throughout the drug purchase process and,to what extent, brand loyalty influences the final decision. Asfar as we are aware, this paper is the first to explicitlytake consumers preferences into account rather than focusingon the behavior of health professionals.