Prices,output and the trade balance in Iran

This paper analyses the impact of the rise in oil prices on domestic inflation, the trade balance, and output growth in Iran for the period 1960–1977. A macro framework is developed in which the domestic spending of oil revenues results in higher output, inflation and imports. Our results indicate that, although the overall growth remained high, the rapid increase in oil revenues in 1973–1974 was mainly reflected in higher inflation and higher imports. In the absence of any exchange rate adjustment, there was a sharp deterioration in the competitive position of the non-oil traded sector.     

A framework to measure relative performance of Indian technical institutions using integrated fuzzy AHP and COPRAS methodology

There are many opportunities and challenges in area of Indian technical education due to liberalization and globalization of economy. One of these challenges is how to assess performance of technical institutions based on multiple criteria. This paper is focused on performance evaluation and ranking of seven Indian Institute of Technology (IITs) in respect to stakeholders’ preference using an integrated model consisting of fuzzy AHP and COPRAS. Findings based on 2007–2008 data show that performance of two IITs need considerable improvement. To the best of our knowledge it is one of few studies that evaluates performance of technical institutions in India.     

Testing sensitivity of student enrollment with respect to tuition at an institution of higher education

This study was conducted to measure the impact of H-University's (HU's) tuition increases on enrollment. Based on an internal survey, this study attempts to explain the sensitivity of student enrollment to tuition variations. In addition, this paper develops an aggregate enrollment model and uses the common economic variables such as tuition, income, wage rates, financial aids, and unemployment rates to explain the sensitivity of demand. The most significant finding of this study is that tuition consideration seems to have a relatively small effect on students' decisions. Actually, enrollment at HU (a private institution) have increased despite higher tuition rate. Possible justifications could be proposed, such as the necessity of higher education and the fact that higher education is a continued investment in human capital, in which the more relevant decision factor is the corresponding expected rate of return and not just the cost of investment. Presented at the International Atlantic Economic Society's Conference, Vienna, Austria, March 2003.     

International Insurance Society Roundtable on Risk Management After the Crisis

In this roundtable, an adviser to several central banks and founding member of the Group of 30 discusses regulatory reform and corporate risk management strategies with senior executives from three of the world's largest insurance companies. Much of the discussion attempts to explain why insurance and reinsurance companies have proven less vulnerable to the crisis than commercial and investment banks. Part of the explanation has to do with their financial conservatism, which is attributed to a habitual tendency to decision‐making that gives heavy weight to long‐term probabilities and risks. But along with this “actuarial” cast of mind is a growing willingness to accept and make use of risk‐based capital requirements—a decision‐making framework that is, in some respects, in conflict with the accounting and regulatory capital conventions that still prevail in the industry. In particular, “Solvency II”—the risk‐based capital guidelines that are set for adoption in 2012 by insurers in the European Union—is held up as a possible model for global use.     

Airport privatization: A simple welfare analysis

The interest in privatization is not new to the world nor the study of economies, for that matter. The paper contains a critique of both proponent and opponent groups of economists and policy makers who deal with the issue of airport privatization. These groups primarily rely on anecdotal evidence to support their positions. At present, privatization can only be accepted or rejected on the basis of theory, politics, or ideology. In this paper a mathematical model and decision rule based on welfare analysis are developed that facilitate the process for transition of airports from a public enterprise to a private one.     

A comparative analysis of economic performance of US commercial airports

There have been various agreements between the US commercial airports and the airlines each of which has defined how the risk, responsibilities, and reward of running an airport should be shared among them. The airport–airline financial relationships at the nation’s commercial airports are based on four basic approaches: the residual cost, the compensatory, the hybrid, privatization approaches. In this paper, the authors provide a comprehensive review of airport–airlines financial agreements, and develop an analytical model to measure the financial performance of the US commercial airports. In general, compensatory airports have had a higher marginal contribution to profitability than residual airports.     

Burden of illness associated with sinusoidal obstruction syndrome/veno-occlusive disease in patients with hematopoietic stem cell transplantation

Aims: Sinusoidal obstruction syndrome (SOS) is a life-threatening complication of hematopoietic stem cell transplantation (HSCT) associated with significant morbidity and mortality. Healthcare utilization, costs, and mortality were assessed in HSCT patients diagnosed with SOS, with and without multi-organ dysfunction (MOD).

Materials and methods: This retrospective observational study identified real-world patients undergoing HSCT between January 1, 2009 and May 31, 2014 using the Premier Healthcare Database. In absence of a formal ICD-9-CM diagnostic code, SOS patients were identified using a pre-specified definition adapted from Baltimore and Seattle criteria and clinical practice. Severe SOS (SOS/MOD) and non-severe SOS (SOS/no-MOD) were classified according to clinical evidence for MOD in the database.

Results: Of the 5,418 patients with a discharge diagnosis of HSCT, 291 had SOS, with 134 categorized as SOS/MOD and 157 as SOS/no-MOD. The remaining 5,127 patients had HSCT without SOS. Overall SOS incidence was 5.4%, with 46% having evidence of MOD. Distribution of age, gender, and race were similar between the SOS cohorts and non-SOS patients. After controlling for hospital profile and admission characteristics, demographics, and clinical characteristics, the adjusted mean LOS was 31.0 days in SOS/MOD compared to 23.9 days in the non-SOS cohort (medians?=?26.9 days vs 20.8 days, p?p?Limitations: Limitations of retrospective observational studies apply, since the study was not randomized. Definition for SOS was based on ICD-9 diagnosis codes from a hospital administrative database and reliant on completeness and accuracy of coding.

Conclusions: Analysis of real-world data shows that SOS/MOD is associated with significant increases in healthcare utilization, costs, and inpatient mortality.