It is well recognized that a depressive mental state can persist for a long time, and this can adversely impact labour market outcomes. The aim of this article is to examine the direct association between depression status in late-teenage years and adult wages, as well as the indirect association, operating through accumulated education, experience and occupation choice. Using the National Longitudinal Survey of Youth 1997 data, we find adolescent depression is associated with a wage penalty of around 10–15%, but its mechanics are very different for males and females. For males, about three quarters of the wage penalty is through the direct channel, whilst for females the indirect effect channel is dominant. The indirect channel is driven by lower accumulated education, mostly because depression discourages further study post high school. These results are important because they imply that the association between adolescent depression and wages is stronger than has been estimated in previous cross-sectional studies. 相似文献
We present a model in which capital assets can only be owned by members of a relatively small politically connected elite (‘the oligarchs’), each member of which faces a given risk of being expropriated, and we investigate the implications of such an imperfection of property rights for the transition to a market economy. At the start of the transition, the oligarchs are long on local capital assets but short on safe deposits abroad. This causes a depression phase characterized by acute liquidity constraints and large capital outflows at the same time. As the oligarchs acquire enough safe deposits, the economy enters a recovery phase, still accompanied by capital outflows. The model can parsimoniously explain both the steep decline suffered by the Russian economy in the first stage of its transition to a market economy and the subsequent turnaround. The decline could be avoided by allowing foreigners to own some domestic capital assets, but home‐country oligarchs may not be able credibly to collectively commit to such a reform. 相似文献
Aims: There is an increasing interest in understanding patients’ preferences in the area of healthcare decision-making to better match treatment with patients’ preferences and improve treatment uptake and adherence. The aim of this study was to elicit the preferences of patients with a depressive disorder regarding treatment modalities.
Materials and methods: In a discrete-choice experiment, patients chose repetitively between two hypothetical depression treatments that varied in four treatment attributes: waiting time until the start of treatment, treatment intensity, level of digitalization, and group size. A Bayesian-efficient design was used to develop 12 choice sets, and patients’ preferences and preference variation was estimated using a random parameters logit model.
Results: A total of 165 patients with depression completed the survey. Patients preferred short (over long) waiting times, face-to-face (over digital) treatment, individual (over group) treatment, and one session per week over two sessions per week or one session per 2 weeks. Patients disfavoured digital treatment and treatment in a large group. Waiting time and treatment intensity were substantially less important attributes to patients than face-to-face (vs digital) and group size. Significant variation in preferences was observed for each attribute, and sub-group analyses revealed that these differences were in part related to education.
Limitations: The convenience sample over-represented the female and younger population, limiting generalizability. Limited information on background characteristics limited the possibilities to explore preference heterogeneity.
Conclusion: This study demonstrated how different treatment components for depression affect patients’ preferences for those treatments. There is significant variation in treatment preferences, even after accounting for education. Incorporating individual patients’ preferences into treatment decisions could potentially lead to improved adherence of treatments for depressive disorders. 相似文献
The aim of this paper is to describe the nonlinear dynamism of innovation and to clarify the role of innovation for economic development in terms of Kondratiev business cycles, especially the causal relation of the bubble economy and depressions with innovations. Any paradigm of technological innovation develops within a definite time span reaching maturity. This nonlinear nature clarifies many characteristic features of innovation. Schumpeters innovation theory on business cycles is examined through this dynamism. Trunk innovation is defined as that which plays a decisive role in building infrastructures and inducing subsequent innovations. Every innovation has its own technological development period just before the innovation diffusion. The emergence of new markets can be estimated by chasing the ongoing technologies.JEL Classification:
E32, L16, O11, O14, O30Paper presented at the 9th Conference of the International J.A. Schumpeter Society, Gainesville, Florida, USA.Previous affiliation was Ryutsu Kagaku University, Faculty of Information Science, Kobe, Japan. 相似文献