Farmers' Health Insurance and Access to Health Care

We estimate farmers' health care consumption given their insurance status, explicitly taking into account the possible endogeneity of insurance. Data come from the 1996–2001 waves of the Medical Expenditure Panel Survey conducted by the Agency for Healthcare Research and Quality. Results show that farmers have problems accessing affordable health insurance coverage, and these access problems lead to an overall reduction in the utilization of health care services by uninsured farmers. After controlling for selection, we observe quantitatively large and statistically significant direct effects of uninsurance on the utilization of health care services.     

European and world energy perspectives: the 1980s and 1990s

Substantial successes have been achieved since 1973 in increasing energy efficiency and substituting other fuels for oil. However, reliance on oil and oil imports remains high. The temporary easing on the oil market must not lead to complacency as any relaxation in energy policy efforts may well contribute to provoking the next oil price shock.     

Stable mixture GARCH models

A new model class for univariate asset returns is proposed which involves the use of mixtures of stable Paretian distributions, and readily lends itself to use in a multivariate context for portfolio selection. The model nests numerous ones currently in use, and is shown to outperform all its special cases. In particular, an extensive out-of-sample risk forecasting exercise for seven major FX and equity indices confirms the superiority of the general model compared to its special cases and other competitors. Estimation issues related to problems associated with mixture models are discussed, and a new, general, method is proposed to successfully circumvent these. The model is straightforwardly extended to the multivariate setting by using an independent component analysis framework. The tractability of the relevant characteristic function then facilitates portfolio optimization using expected shortfall as the downside risk measure.     

The effect of double coverage on health care utilization of children

Double coverage refers to a situation in which a person is covered by more than one health plan. In a family in which the husband and wife are both offered employer-provided insurances, it is possible for one or more family members to be double covered. This article is the first to examine double coverage of children and quantify the effects of double coverage on health care utilization for any population. Results show that double coverage does not affect the frequency at which children consume medical services, but rather double coverage leads children to consume more expensive forms of health care.     

Testing the Bhaduri–Marglin model with OECD panel data

The Bhaduri–Marglin model is a post-Kaleckian model that allows one to study the impact of a functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or fosters demand growth. The focus so far has been on a very limited number of countries. This paper is the first to test the Bhaduri–Marglin model with panel data. It finds that demand growth is reduced by a redistribution towards profits in the average OECD country. Productivity growth is also impaired.     

MOVIES,MASS CONSUMERS,AND CRITICS: ECONOMICS AND POLITICS OF A TWO‐SIDED MARKET

Most analyses of the film market treat it as a single entity where producers make films based on average consumer interest while critics serve as forecasters or signalers of film quality to these consumers. We describe the film market as two‐sided—a mass market (average consumer) side and a high quality/artistic (cineaste) side—that each influence film maker production decisions and critical reviews as critics balance the preferences of mass market consumers and their own more artistic inclination. Using 1,824 films released during 2000–2014, we examine determinants of box office revenues and critical reviews, while addressing the overlap between them. Our results indicate that consumers and critics respond differently not only to film rating but also to film budgets, story sources, genre, and political content. We then use the dichotomy between average and high quality, artistic film consumers as a basis for understanding the normative views of the film markets relative to other two‐sided markets as well as the political economy of film regulation. (JEL C30, D10, Z11)