Physician supply and demand for the period extending to 2020 were assessed from three perspectives: physician utilization in group- and staff-model health maintenance organizations, physician distribution, and the future supply of nonphysician clinicians. The national norm for physician demand in 1993 was estimated to be 205 per 100,000 population. Demand is projected to increase 18% by 2020, b...

This paper analyzes the implications of a balanced-budget "scal policy rule for pricelevel determination in a cash-in-advance economy under three alternative monetary policy regimes. It shows that the price level is indeterminate under a nominal interest rate peg and determinate under a money growth rate peg. Under a feedback rule that sets the nominal interest rate as a non-negative and non-de...

Electricity cannot yet be stored on a large scale, but technological advances leading to cheaper and more efficient industrial batteries make grid-level storage of electricity surpluses a natural choice. Because electricity prices can be negative, it is unclear how the presence of negative prices might affect the storage policy structure known to be optimal when prices are only non-negative, or...

The 4% rule is the advice most often given to retirees for managing spending and investing. This rule and its variants finance a constant, non-volatile spending plan using a risky, volatile investment strategy. As a result, retirees accumulate unspent surpluses when markets outperform and face spending shortfalls when markets underperform. The previous work on this subject has focused on the pr...

Abstract Germany’s excessive current account surpluses mirror domestic problems. They are rooted in inequality and a weak home market, creating an overdependence on exports. Why, then, policymakers so reluctant to reduce them? This paper argues that contributing factor is the public misrepresentation of surpluses’ costs. Imbalances narrated as distributional conflicts between countries, not wit...

Energy poverty at the household level is a serious hindrance to economic and social development, especially in off-grid, remote villages in the developing world. Some initiatives have sought to provide these households with resources such as renewable generation units and electric batteries to enable access to electricity. At present, these resources are operated in isolation, fulfilling indivi...

This paper analyzes the implications of a balanced-budget "scal policy rule for pricelevel determination in a cash-in-advance economy under three alternative monetary policy regimes. It shows that the price level is indeterminate under a nominal interest rate peg and determinate under a money growth rate peg. Under a feedback rule that sets the nominal interest rate as a non-negative and non-de...