Unbiased Analysis of Today's Healthcare Issues
The Washington Post (“Senate likely to Back…“) reports that the Senate will support a plan to remove the legislative barriers against the importation of pharmaceuticals from other countries. According to the article: “The provision would allow consumers to buy prescription drugs from Canada and permit commercial distributors to obtain them from Canada, Japan, Austria, Switzerland…
The RAND health insurance experiment (HIE) demonstrated that increasing coinsurance rates decreases medical care utilization. The HIE also found that health outcomes did not vary between individuals with high, low and zero coinsurance rates. A working paper by Chandra, Gruber and McKnight (“Patient Cost Sharing…“) re-examines whether or not this is the case using a…
The latest edition of the Health Wonk Review is available at Hank Stern’s InsureBlog.
The concept of diminishing return is one that pervades much of economics. A Health Affairs article (“U.S Health Care Spending…“) by health economist Uwe Reinhardt and co-authors claims that since the U.S. spends more per-person on health care, the marginal benefit of any treatment is low due to diminishing returns. This hypothesis got me thinking…
A working paper by Yolanda K. Kodrzycki and Pingkang David Yu of the Boston Fed attempts to rank economic journals according to their: 1) impact within the Economics field, 2) overall impact, 3) Policy Impact and 4) impact on non-economic journals. The top 10 journals in each category are as follows: Within Economics Overall Impact…
When constructing policy, we are often faced by an equity-efficiency tradeoff. For instance, increasing welfare benefits will increase equity but may reduce a poor individual’s incentive to work if the welfare benefits are tied to having low income. A recent NBER working paper by the nobel laureate James Heckman and co-author Dimitriy Masterov (“…Investing in…