{"title":"The Effect of Age and Time to Death on Health Care Expenditures: The Italian Experience","authors":"V. Atella, Valentina Conti","doi":"10.2139/ssrn.2230487","DOIUrl":"https://doi.org/10.2139/ssrn.2230487","url":null,"abstract":"A large body of literature, mainly based on hospital costs, shows that time to death (TTD) is by far a better predictor of health spending than age. In this paper, we investigate if this finding holds true also in presence of outpatient costs (drugs, diagnostic tests and specialist visits). Our analysis is based on data obtained from the Health Search-SiSSI database, which contains patient-level data collected routinely by General Practitioners in Italy since 2002. We study individuals aged 19 and older, during years 2006-2009. By means of a two-part model, which accounts for the presence of zero expenditure, we find that TTD is a good predictor of outpatient costs in Italy, but age remains a strong driver. These results suggest that age and TTD can have different role in shaping health care costs according to the component of health expenditure examined. Therefore, our advice to policy makers is to use disaggregated models to better disentangle these contributions in order to produce more reliable health spending forecasts.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122418867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of the French Tobin Tax","authors":"L. Becchetti, M. Ferrari, Ugo Trenta","doi":"10.2139/ssrn.2226983","DOIUrl":"https://doi.org/10.2139/ssrn.2226983","url":null,"abstract":"We analyse the impact of the introduction of the French Tobin tax on volumes, liquidity and volatility of affected stocks with parametric and non parametric tests on individual stocks, difference in difference tests and other robustness checks controlling for simultaneous month-of-the-year and size effects. Our findings document that the tax has a significant impact in terms of reduction in transaction volumes and intraday volatility. The reduction in volumes traded occurs in similar proportion in non taxed small cap stocks.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122998484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Top Income Shares and Budget Deficits","authors":"Santo Milasi","doi":"10.2139/ssrn.2121344","DOIUrl":"https://doi.org/10.2139/ssrn.2121344","url":null,"abstract":"The paper argues that the concentration of income at the top of the distribution, along with a decreasing taxation imposed on high incomes, may have affected OECD countries’ fiscal performances in recent decades. Using a panel of 17 OECD countries between 1975 and 2005, the paper presents the first reported evidence of a positive relationship between the top 1 percent income share and budget deficits. The disaggregated analysis of the budget components suggests that such result is due to a negative relationship between the concentration of income at the top and budget revenues.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127080089","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Inside the Life Satisfaction Blackbox","authors":"L. Becchetti, L. Corrado, Paola Samà","doi":"10.2139/ssrn.2198303","DOIUrl":"https://doi.org/10.2139/ssrn.2198303","url":null,"abstract":"We propose a measure of life satisfaction, alternative to the standard synthetic cognitive wellbeing question, based on the specific contribution of eleven life satisfaction sub-components (including satisfaction about the past, life opportunities, hope for the future, vitality, control over one’s on life, meaning of life). The alternative measure is either estimated as a latent factor, obtained as a simple unweighted average from the above mentioned sub-components, or extracted with principal component analysis. We document that the new dependent variable fits much better standard socio-demographic controls and corrects the \"Danish life satisfaction bias\" in the direction suggested by the vignette approach. These findings do not reject our theoretical assumption that the alternative measures derived from the life satisfaction sub-components are less noisy and less culturally biased and therefore perform better than the standard self-reported life satisfaction. The straightforward policy advice of the paper is to introduce the above mentioned sub-components (similarly to what happens with sub-questions used to calculate the General Health Questionnaire score) in an additional question to measure more effectively subjective wellbeing.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125728125","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Impact of Cost Sharing Schemes on Drug Compliance: Evidence Based on Quantile Regression","authors":"V. Atella, Joanna Kopinska","doi":"10.2139/ssrn.2118726","DOIUrl":"https://doi.org/10.2139/ssrn.2118726","url":null,"abstract":"In this work we investigate the causal impact of cost sharing schemes on drug compliance using a Difference-in-Differences approach within a quantile regression framework. We exploit a series of natural experiments occurred in Italy between 2000 and 2010, referring to the introduction of regional co-payment schemes. We find that co-payments have a negative impact on compliance, causing a reallocation of individuals from the upper to the lower tail of the compliance distribution, thus hurting the already narrow group of good compliers. The empirical evidence suggests also that gender, clinical history and geographic residence are important drivers of compliance, particularly within the group of poor compliers.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129952882","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of Price Discrimination in the Acquisition of Medical Devices","authors":"Mercedes Vellez","doi":"10.2139/ssrn.2055699","DOIUrl":"https://doi.org/10.2139/ssrn.2055699","url":null,"abstract":"Medical device expenditures are an important driver of the growth in health care spending and hospitals pay significantly different prices for the same medical device. This paper uses hospitals’ acquisition data to explore the determinants of price discrimination in the acquisition of medical devices across Italian hospitals considering demand factors such as institutional characteristics of the buyer, devices substitution patterns, area of localization, and purchase conditions. I find evidence that public hospital trusts and those located in northern regions are more efficient in acquiring medical devices, and that more flexibility in contracting with different device manufacturers and higher purchase volumes reduce the likelihood of paying higher prices.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127989776","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Domestic Pigouvian Taxation and Technological Spillovers Under International Emissions Trading","authors":"Amanda Spisto","doi":"10.2139/ssrn.2054746","DOIUrl":"https://doi.org/10.2139/ssrn.2054746","url":null,"abstract":"I model an economy featuring two representative firms in two countries, one in each country, where one firm innovates and generates technological unilateral spillovers. I analyze a partial equilibrium model in two different scenarios: in the first one, the innovating firm is under a domestic emissions taxation, while the other country does not implement any environmental policy. Government of the innovating firm introduces a tax credit aimed at incentivizing investment in cleaner abatement technologies. Finally, in the second scenario, the two countries take part to an international ETS. Comparisons among results from di¤erent scenarios are shown in the analytical part of the study. I conclude that, under specific assumpitons, overlapping regulations might be welfare improving.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121984277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Structural Reforms and the Potential Effects on the Italian Economy","authors":"Barbara Annicchiarico, F. Di Dio, F. Felici","doi":"10.2139/ssrn.2030811","DOIUrl":"https://doi.org/10.2139/ssrn.2030811","url":null,"abstract":"Since the second half of 2011, after a period of prolonged low growth, Italy has found itself at the center of a severe economic crisis. Concerns about the sustainability of its debt burden, along with gloomy growth prospects, have pushed up the cost of government borrowing, exacerbating current economic conditions. At the moment Italy is facing two mounting economic challenges: (i) achieve a rapid fiscal consolidation to restore financial market confidence; (ii) implement structural reforms to strengthen medium-term growth prospects. Using the European Commission's model QUEST III with R&D, adapted to Italy, we quantify the potential effects of a set of interventions inspired to the reform packages currently being undertaken or under discussion and consider different levels of policy effort. Results show that reforms are likely to bring about sizable gains in output, consumption, employment and net foreign assets position and that most of these gains derive from labor market reforms. However, the fiscal austerity plan is likely to severely mitigate the positive effects of the interventions, especially during the earlier phases of the reform process. Most of these losses accrue to liquidity-constraint households who would experience a drop in consumption.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126062606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A General to Specific Approach for Constructing Composite Business Cycle Indicators","authors":"G. Cubadda, B. Guardabascio, Alain Hecq","doi":"10.2139/ssrn.2011821","DOIUrl":"https://doi.org/10.2139/ssrn.2011821","url":null,"abstract":"Abstract Combining economic time series with the aim to obtain an indicator for business cycle analyses is an important issue for policy makers. In this area, econometric techniques usually rely on systems with either a small number of series, N , or, at the other extreme, a very large N . In this paper we propose tools to select the relevant business cycle indicators in a “medium” N framework, a situation that is likely to be the most frequent in empirical works. An example is provided by our empirical application, in which we study jointly the short-run co-movements of 24 European countries. We show, under not too restrictive conditions, that parsimonious single-equation models can be used to split a set of N countries in three groups. The first group comprises countries that share a synchronous common cycle, a non-synchronous common cycle is present among the countries of the second group, and the third group collects countries that exhibit idiosyncratic cycles. Moreover, we offer a method for constructing a composite coincident indicator that explicitly takes into account the existence of these various forms of short-run co-movements among variables.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127321669","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Family Money, Relational Life and (Class) Relative Wealth: An Empirical Analysis on Life Satisfaction of Secondary School Students","authors":"L. Becchetti, Fabio Pisani","doi":"10.2139/ssrn.2008656","DOIUrl":"https://doi.org/10.2139/ssrn.2008656","url":null,"abstract":"We investigate factors affecting happiness on a sample of Italian secondary school students. We find that money matters since family’s house ownership, mortgages and (class) relative wealth significantly affect life satisfaction. Other crucial factors are geographical residence (those living in Milan are significantly less happy), mother’s occupation, trust on family and friendships. Even though we cannot rule out inverse causality and other forms of endogeneity, the characteristics of many of the significant regressors such as family wealth, parental job and geographical residence (not under the decisional power of the student) suggest a direct causality nexus for these factors.","PeriodicalId":416571,"journal":{"name":"CEIS: Centre for Economic & International Studies Working Paper Series","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131008261","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}