The Impact of Property Condition Disclosure Laws on Housing Prices: Evidence from an Event Study using Propensity Scores

We examine the impact of seller's Property Condition Disclosure Law on the residential real estate values. A disclosure law may address the information asymmetry in housing transactions shifting of risk from buyers and brokers to the sellers and raising housing prices as a result. We combine propensity score techniques from the treatment effects literature with a traditional event study approach. We assemble a unique set of economic and institutional attributes for a quarterly panel of 291 US Metropolitan Statistical Areas (MSAs) and 50 US States spanning 21 years from 1984 to 2004 is used to exploit the MSA level variation in house prices. The study finds that the average seller may be able to fetch a higher price (about three to four percent) for the house if she furnishes a state-mandated seller.s property condition disclosure statement to the buyer. When we compare the results from parametric and semi-parametric event analyses, we find that the semi-parametric or the propensity score analysis generals moderately larger estimated effects of the law on housing prices.

Von Herrn Lionel L. Cohen, Präsidenten des "Board of Guardians for the Relief of the Jewish Poor" : geht uns das folgende Schreiben zu

Lionel Louis Cohen

Schickt der Harr a poor

Arno Nadel

Laws, volksraad resolutions, proclamations and government notices relating to natives and coolies in the Transvaal

transl. by Sydney Hilton Barber ...

Effects of congressional modernization laws on public access to innovative medical device technologies

The Federal Food and Drug Administration (FDA) and the Centers for Medicare and Medicaid (CMS) play key roles in making Class III, medical devices available to the public, and they are required by law to meet statutory deadlines for applications under review. Historically, both agencies have failed to meet their respective statutory requirements. Since these failures affect patient access and may adversely impact public health, Congress has enacted several “modernization” laws. However, the effectiveness of these modernization laws has not been adequately studied or established for Class III medical devices. ^ The aim of this research study was, therefore, to analyze how these modernization laws may have affected public access to medical devices. Two questions were addressed: (1) How have the FDA modernization laws affected the time to approval for medical device premarket approval applications (PMAs)? (2) How has the CMS modernization law affected the time to approval for national coverage decisions (NCDs)? The data for this research study were collected from publicly available databases for the period January 1, 1995, through December 31, 2008. These dates were selected to ensure that a sufficient period of time was captured to measure pre- and post-modernization effects on time to approval. All records containing original PMAs were obtained from the FDA database, and all records containing NCDs were obtained from the CMS database. Source documents, including FDA premarket approval letters and CMS national coverage decision memoranda, were reviewed to obtain additional data not found in the search results. Analyses were conducted to determine the effects of the pre- and post-modernization laws on time to approval. Secondary analyses of FDA subcategories were conducted to uncover any causal factors that might explain differences in time to approval and to compare with the primary trends. The primary analysis showed that the FDA modernization laws of 1997 and 2002 initially reduced PMA time to approval; after the 2002 modernization law, the time to approval began increasing and continued to increase through December 2008. The non-combined, subcategory approval trends were similar to the primary analysis trends. The combined, subcategory analysis showed no clear trends with the exception of non-implantable devices, for which time to approval trended down after 1997. The CMS modernization law of 2003 reduced NCD time to approval, a trend that continued through December 2008. This study also showed that approximately 86% of PMA devices do not receive NCDs. ^ As a result of this research study, recommendations are offered to help resolve statutory non-compliance and access issues, as follows: (1) Authorities should examine underlying causal factors for the observed trends; (2) Process improvements should be made to better coordinate FDA and CMS activities to include sharing data, reducing duplication, and establishing clear criteria for “safe and effective” and “reasonable and necessary”; (3) A common identifier should be established to allow tracking and trending of applications between FDA and CMS databases; (4) Statutory requirements may need to be revised; and (5) An investigation should be undertaken to determine why NCDs are not issued for the majority of PMAs. Any process improvements should be made without creating additional safety risks and adversely impacting public health. Finally, additional studies are needed to fully characterize and better understand the trends identified in this research study.^

Perceptions of chief executives of Texas Catholic health care institutions regarding the poor and the provision of Catholic health care

Perceptions of chief executive officers (CEOs) of Texas Catholic health care institutions regarding the poor and the provision of Catholic health care were the focus for this study. A total of 40 health care administrators were asked to participate in a survey. Thirty-seven CEOs responded, including seven religious superiors, six health system CEOs and 24 hospital CEOs. Survey items concerning Catholic health for the poor centered on obligations and responsibilities of Catholic hospitals, means of achieving those obligations, and assessment of whether hospitals' objectives were being met. In addition, respondents' attitudes and beliefs about poor people in general were examined. Independent variables were CEO type, gender, religious preference, member of a religious order, and educational preparation. For purposes of analysis, most survey items were classified by level of consensus exhibited by respondents. The respondents to this survey agreed on most issues concerning poor people and the provision of Catholic health care. However, there were areas of disagreement particularly in Part I of the survey which dealt with responsibility/obligation, means/methods, and assessment of health care delivery for the poor. ^

An Overview of Abortion Laws

Since the Supreme Court handed down its 1973 decisions in Roe v. Wade and Doe v. Bolton, states have constructed a lattice work of abortion law, codifying, regulating and limiting whether, when and under what circumstances a woman may obtain an abortion. The following table highlights the major provisions of these state laws. More detailed information can be found by selecting the table column headings in blue. Except where noted, the laws are in effect, although they may not always be enforced.

¿Es la pobreza un determinante crucial de participación económica de niños, niñas y adolescentes? : Una exploración con datos de algunas regiones de Argentina

De acuerdo con los modelos teóricos más usados para el estudio del trabajo infantil, uno de los principales determinantes de su nivel es la pobreza del hogar en el que residen los niños. Más concretamente, Basu y Van (1998) plantean a nivel teórico el llamado por ellos ?luxury axiom? (la), según el cual los hogares están comandados por padres altruistas y pobres que recurren al trabajo infantil como un medio de escapar de la pobreza. Según este mismo esquema teórico y si la economía está en una situación de equilibrio múltiple, puede que la aplicación efectiva de las leyes que prohíben el trabajo infantil provoque un empeoramiento del bienestar de los hogares y aumente la pobreza. Para que esto se dé, es necesario también que el otro axioma del modelo de Basu y Van (1998), el ?complementary axiom?, no se verifique en la realidad. Con datos provenientes de la Encuesta de Actividades de Niños, Niñas y Adolescentes (EANNA) realizada en la Argentina en 2004, se exploran empíricamente estas hipótesis. En primer lugar, se trata de examinar en qué medida el ingreso familiar estaría actuando como un determinante de la participación económica de niños entre 5 y 17 años. Luego se procede a analizar la cuestión simulando una situación de política pública que reduzca en un porcentaje dado la participación económica de niños, niñas y adolescentes y observando su impacto sobre las tasas de pobreza de las distintas regiones de la Argentina. También se analizan hipótesis específicas, como, por ejemplo, la endogeneidad del ingreso familiar total que estaría recibiendo los efectos de un moral hazard en la conducta de los adultos

¿Es la pobreza un determinante crucial de participación económica de niños, niñas y adolescentes? : Una exploración con datos de algunas regiones de Argentina

De acuerdo con los modelos teóricos más usados para el estudio del trabajo infantil, uno de los principales determinantes de su nivel es la pobreza del hogar en el que residen los niños. Más concretamente, Basu y Van (1998) plantean a nivel teórico el llamado por ellos ?luxury axiom? (la), según el cual los hogares están comandados por padres altruistas y pobres que recurren al trabajo infantil como un medio de escapar de la pobreza. Según este mismo esquema teórico y si la economía está en una situación de equilibrio múltiple, puede que la aplicación efectiva de las leyes que prohíben el trabajo infantil provoque un empeoramiento del bienestar de los hogares y aumente la pobreza. Para que esto se dé, es necesario también que el otro axioma del modelo de Basu y Van (1998), el ?complementary axiom?, no se verifique en la realidad. Con datos provenientes de la Encuesta de Actividades de Niños, Niñas y Adolescentes (EANNA) realizada en la Argentina en 2004, se exploran empíricamente estas hipótesis. En primer lugar, se trata de examinar en qué medida el ingreso familiar estaría actuando como un determinante de la participación económica de niños entre 5 y 17 años. Luego se procede a analizar la cuestión simulando una situación de política pública que reduzca en un porcentaje dado la participación económica de niños, niñas y adolescentes y observando su impacto sobre las tasas de pobreza de las distintas regiones de la Argentina. También se analizan hipótesis específicas, como, por ejemplo, la endogeneidad del ingreso familiar total que estaría recibiendo los efectos de un moral hazard en la conducta de los adultos

¿Es la pobreza un determinante crucial de participación económica de niños, niñas y adolescentes? : Una exploración con datos de algunas regiones de Argentina

De acuerdo con los modelos teóricos más usados para el estudio del trabajo infantil, uno de los principales determinantes de su nivel es la pobreza del hogar en el que residen los niños. Más concretamente, Basu y Van (1998) plantean a nivel teórico el llamado por ellos ?luxury axiom? (la), según el cual los hogares están comandados por padres altruistas y pobres que recurren al trabajo infantil como un medio de escapar de la pobreza. Según este mismo esquema teórico y si la economía está en una situación de equilibrio múltiple, puede que la aplicación efectiva de las leyes que prohíben el trabajo infantil provoque un empeoramiento del bienestar de los hogares y aumente la pobreza. Para que esto se dé, es necesario también que el otro axioma del modelo de Basu y Van (1998), el ?complementary axiom?, no se verifique en la realidad. Con datos provenientes de la Encuesta de Actividades de Niños, Niñas y Adolescentes (EANNA) realizada en la Argentina en 2004, se exploran empíricamente estas hipótesis. En primer lugar, se trata de examinar en qué medida el ingreso familiar estaría actuando como un determinante de la participación económica de niños entre 5 y 17 años. Luego se procede a analizar la cuestión simulando una situación de política pública que reduzca en un porcentaje dado la participación económica de niños, niñas y adolescentes y observando su impacto sobre las tasas de pobreza de las distintas regiones de la Argentina. También se analizan hipótesis específicas, como, por ejemplo, la endogeneidad del ingreso familiar total que estaría recibiendo los efectos de un moral hazard en la conducta de los adultos

Chemical and isotope composition of poor fluid from gas-hydrate samples of ODP Site 146-892

Although the presence of extensive gas hydrate on the Cascadia margin, offshore from the western U.S. and Canada, has been inferred from marine seismic records and pore water chemistry, solid gas hydrate has only been found at one location. At Ocean Drilling Program (ODP) Site 892, offshore from central Oregon, gas hydrate was recovered close to the sediment-water interface at 2-19 m below the seafloor (mbsf) at 670 m water depth. The gas hydrate occurs as elongated platy crystals or crystal aggregates, mostly disseminated irregularly, with higher concentrations occurring in discrete zones, thin layers, and/or veinlets parallel or oblique to the bedding. A 2- to 3-cm thick massive gas hydrate layer, parallel to bedding, was recovered at ~17 mbsf. Gas from a sample of this layer was composed of both CH4 and H2S. This sample is the first mixed-gas hydrate of CH4-H2S documented in ODP; it also contains ethane and minor amounts of CO2. Measured temperatures of the recovered core ranged from 2 to -1.8°C and are 6 to 8 degrees lower than in-situ temperatures. These temperature anomalies were caused by the partial dissociation of the CH4-H2S hydrate during recovery without a pressure core sampler. During this dissociation, toxic levels of H2S (delta34S, +27.4?) were released. The delta13C values of the CH4 in the gas hydrate, -64.5 to -67.5? (PDB), together with deltaD values of -197 to -199? (SMOW) indicate a primarily microbial source for the CH4. The delta18O value of the hydrate H2O is +2.9? (SMOW), comparable with the experimental fractionation factor for sea-ice. The unusual composition (CH4-H2S) and depth distribution (2-19 mbsf) of this gas hydrate indicate mixing between a methane-rich fluid with a pore fluid enriched in sulfide; at this site the former is advecting along an inclined fault into the active sulfate reduction zone. The facts that the CH4-H2S hydrate is primarily confined to the present day active sulfate reduction zone (2-19 mbsf), and that from here down to the BSR depth (19-68 mbsf) the gas hydrate inferred to exist is a >=99% CH4 hydrate, suggest that the mixing of CH4 and H2S is a geologically young process. Because the existence of a mixed CH4-H2S hydrate is indicative of moderate to intense advection of a methane-rich fluid into a near surface active sulfate reduction zone, tectonically active (faulted) margins with organic-rich sediments and moderate to high sedimentation rates are the most likely regions of occurrence. The extension of such a mixed hydrate below the sulfate reduction zone should reflect the time-span of methane advection into the sulfate reduction zone.

Who Develops Innovations in Medicine for the Poor? Trends in Patent Applications Related to Medicines for HIV/AIDS, Tuberculosis, Malaria and Neglected Diseases

Who invents medicines for the poor of the world? This question becomes very important where the WTO allows low income countries to be unbound by the TRIPS agreement. This agreement concerns medicines for infectious diseases such as HIV/AIDS, tuberculosis and malaria. These diseases cause serious damage to low income countries. Under these circumstances, some scholars wonder if anyone will continue innovative activities related to treating these diseases. This paper sought to answer this question by collecting and analyzing patent data of medicines and vaccines for diseases using the database of the Japan Patent Office. Results indicate that private firms have led in innovation not only for global diseases such as HIV/AIDS but also diseases such as malaria that are spreading exclusively in low income countries. Innovation for the three infectious diseases is diverse among firms, and frequent patent applications by high-performing pharmaceutical firms appear prominent even after R&D expenditure, economies of scale, and economies of scope are taken into account.