Abstract Perceived financial constraints are ubiquitous, and prior research suggests that consumers who feel financially constrained especially likely to engage in compensatory consumption signal positive attributes or offset the aversiveness associated with their state. However, it is unclear whether spending confers greater happiness when constrained. Seven high-powered studies (N = 7,228) de...

While investment in most sectors declines response to a contractionary monetary policy shock, the manufacturing sector increases. Using manually digitized aggregate income and balance sheet data for universe of US firms, I show this increase is driven by types firms which are least likely be financially constrained. A two-sector New Keynesian model with financial frictions can match these facts...

The World Health Organization’s (WHO’s) World Health Report 2010, “Health systems financing, the path to universal coverage,” promoted universal health coverage (UHC) as an aspirational objective for country health systems. Yet, in addition to the dimensions of services and coverage, distribution of coverage in the population, and financial risk protection highlighted by the report, the conside...

hepatitis c can be cured and even eradicated by new “revolutionary” treatments. however, at present exorbitant prices, eastern european countries cannot afford the new treatments, while in western rich and developed countries (e.g. germany and france) they are already available. concerted efforts of governments, public health officials, and the community at large, are needed to negotiate agreem...