Results 221 to 230 of about 13,071 (304)

Optimal Healthcare Contracts: Theory and Empirical Evidence

open access: yesJournal of Economics &Management Strategy, EarlyView.
ABSTRACT In this paper, we investigate the contracts offered by a large healthcare purchaser to health service providers. Contracts are based on the DRG principle that all hospitalizations in a diagnosis group are reimbursed at the same rate. This principle is relaxed in practice, as in several cases, the amount reimbursed within each DRG exhibits ...
Paolo Berta   +2 more
wiley   +1 more source

Monetary Policy When Preferences Are Quasi‐Hyperbolic

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract We study discretionary monetary policy in an economy where economic agents have quasi‐hyperbolic discounting. We demonstrate that a benevolent central bank is able to keep inflation under control for a wide range of discount factors. If the central bank, however, does not adopt the household's time preferences and tries to discourage early ...
RICHARD DENNIS, OLEG KIRSANOV
wiley   +1 more source

Monetary and Macroprudential Policies under Dollar‐Denominated Foreign Debt

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract This paper studies monetary and macroprudential policies in a small open economy that borrows from abroad in foreign currency. The model features a novel mechanism in which exchange rate depreciation triggered by a borrowing constraint is amplified through balance of payments adjustments, increasing the real burden of foreign debt and causing ...
HIDEHIKO MATSUMOTO
wiley   +1 more source

Policy Biases in a Model with Labor‐Market Frictions

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract We develop a model with labor‐market matching frictions that is subject to a range of shocks, including shocks to matching efficiency and bargaining power, and use the model to examine how monetary policy should respond to such shocks. We show that optimal monetary policy responds effectively to these shocks, producing economic outcomes that ...
RICHARD DENNIS, TATIANA KIRSANOVA
wiley   +1 more source

Central Bank Digital Currency with Collateral‐Constrained Banks

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract We analyze risks to bank intermediation following the introduction of a central bank digital currency (CBDC) competing with commercial bank deposits as households' source of liquidity. We revisit the equivalence of payment systems result, introducing a collateral constraint on banks' borrowing from the central bank.
HANFENG CHEN, MARIA ELENA FILIPPIN
wiley   +1 more source

Dynamic capital allocation in general insurance

open access: yesJournal of Risk and Insurance, EarlyView.
Abstract This paper provides a model for allocating capital to different insurance lines with varying development periods for a value‐maximizing insurance company. In our model, the company makes capitalization and exposure decisions considering its capital level and its relevant loss history.
Qiheng Guo   +2 more
wiley   +1 more source

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