This paper takes a different approach to estimating demand for medical care that uses the negotiated prices between insurers and providers as an instrument. The instrument is viewed as a textbook "cost shifting" instrument that impacts plan offerings, but is unobserved by consumers. The paper finds a price elasticity of demand of around -0.20, matching the elasticity found in the RAND Health In...

Abstract: Central banks have long been interested in obtaining precise estimations of money demand given the fact that the evolution of money demand plays a key role over several monetary variables. One implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. Due to the recent currency crisis in Iran, it would be important to inv...

This paper uses crowd-sourced transaction data from a cross-section of the US to examine demand for marijuana. State and regional variations in consumption, price and quality are explored. Price elasticity of demand estimates range between -0.3 and -0.6. Noticeable price differences are found between high, medium, and low quality marijuana, with high quality marijuana, at $13.57 per gram, 144% ...

For nearly a decade, I have argued that the Federal Reserve should maintain a target path of total demand in the American economy. The best measure of total demand, I suggest, is what the Department of Commerce calls “final sales to domestic purchasers.” This aggregate is equal to nominal gross domestic product minus the change in private inventories minus exports plus imports. In recent years,...

The input-output table provides summary information on the industrial structure of an economy in a specific period. This contains flow goods and services between industries economic sectors. backward forward links are descriptive measures interdependence sectors terms volume transactions. Sectors with strong backwards linkages vital play essential role country’s development strategy. paper aims...

In this paper, a model for hybrid transmission expansion planning (TEP) and reactive power planning (RPP) considering demand response (DR) model has been presented. In this study RPP considered by TEP for its effects on lines capacity and reduction of system expansion costs. On the other hand the expansion of the transmission system is an important subject, especially dealing with the new i...