scholarly journals The role of model uncertainty and learning in the US postwar policy response to oil prices

2012 ◽  
Vol 36 (7) ◽  
pp. 1009-1041
Author(s):  
Francesca Rondina
Keyword(s):  
Model Uncertainty ◽  
Oil Prices ◽  
Policy Response ◽  
The Us

scholarly journals The Phenomenon of Related Dynamics in Global Finances (Russia, Brazil)

2018 ◽  
Vol 11 (1) ◽  
pp. 155-169 ◽  
Author(s):  
Yakov M. Mirkin ◽  
Karina M. Lebedeva
Keyword(s):  
Financial Markets ◽  
Stock Prices ◽  
Real Exchange Rates ◽  
Oil Prices ◽  
Statistical Modelling ◽  
Secondary Importance ◽  
Cause And Effect ◽  
The Us ◽  
Global Investors

The article establishes stable codependencies between international financial markets and their underlying cause and effect mechanisms, as an object of a global transformation. We demonstrate an intense co-integration between the financial markets of Russia, Brazil and the other emerging markets of Latin America (through the lens of stock markets and national currencies). The cause and effect mechanisms of this dependency are examined. We characterize the countries as analogous substitutes for investors (abundant similarities include: models of collective behaviour, ideology, model and structure of the economy, model of the financial sector, highly speculative markets in shares and currencies). The article explains an extremely limited role of the internal (primarily retail) investors in determining dynamics of the financial market. The central role of non-resident actors (global financial institutions and institutional investors) in the dynamics of the markets of Russian and Brazil is established. We demonstrate that for Russia and Brazil sources of foreign portfolio investments coincide. This includes Anglo-Saxon centers, specifically the US and British offshore jurisdictions, and the global centers of secondary importance (the Netherlands and Luxembourg). The decision making models of global investors in Russian and Brazil are examined: stock prices are driven by the oil prices, and in part by the US stock market, and rouble and real exchange rates follows oil prices and the EUR-USD currency pair. Analysis and conclusions made in the article are supported by a significant volume of statistical modelling. 

scholarly journals The global price of oil, QE and the US high yield rate

2020 ◽  
Vol 47 (7) ◽  
pp. 1849-1860
Author(s):  
Anastasios Malliaris ◽  
Mary E. Malliaris
Keyword(s):  
Oil Prices ◽  
High Yield ◽  
Practical Application ◽  
Content Type ◽  
Yield Rate ◽  
Us Economy ◽  
The Us ◽  
Short Run ◽  
Practical Implications

PurposeQuantitative easing (QE) allowed the US economy to stabilize and return to slow growth. Oil prices increased to $100 during 2010–2013. Then in June 2014, they plunged again dramatically to $40. The purpose of this paper is to develop and test a model that describes the price of oil as depending on six inputs: Federal assets accumulated by the Federal Reserve during the period of QE, the 10-Year Treasury note rate, the price of copper, the trade-weighted dollar, the S&P 500 Index and the US high yield rate for bonds rated CCC or below.Design/methodology/approachWe use 771 overlapping 52-week regressions to capture short-run oil price dynamics.FindingsWe find that QE was statistically significant only during 2009–2010, while the US high yield rate played a more significant role, both during and after the crisis.Research limitations/implicationsThis paper does not explain the behavior of oil prices prior to 2003.Practical implicationsThis paper emphasizes the role of the high yield rate on fracking technology in financing the extraction and production of oil.Originality/valueThe paper has both the theoretical value for researchers in the area of energy, as well as practical application for the oil industry.

Scripturalizing and the Second Amendment

2018 ◽  
Author(s):  
Rosamond C. Rodman
Keyword(s):  
White Women ◽  
White Children ◽  
The Bible ◽  
Second Amendment ◽  
The Us ◽  
The Status ◽  
Us Constitution ◽  
Half Decade

Expanding beyond the text of the Bible, this chapter explores instead a piece of political scripture, namely the Second Amendment of the US Constitution. Over the last half-decade, the Second Amendment has come to enjoy the status of a kind of scripture-within-scripture. Vaulted to a much more prominent status than it had held in the first 150 years or so of its existence, and having undergone a remarkable shift in what most Americans think it means, the Second Amendment provides an opportunity to examine the linguistic, racial, and gendered modes by which these changes were effected, paying particular attention to the ways in which white children and white women were conscripted into the role of the masculine, frontier-defending US citizen.

The 1970s Fiscal Squeeze

2017 ◽  
Author(s):  
Christopher Hood ◽  
Rozana Himaz
Keyword(s):  
Trade Union ◽  
Sharp Increase ◽  
Currency Crisis ◽  
Public Spending ◽  
Oil Prices ◽  
Labour Government ◽  
The Us ◽  
Us Government ◽  
Double Digit ◽  
New System

This chapter describes fiscal squeeze in an era of high political volatility and major economic challenges, including mass unemployment, a sharp increase in oil prices, double-digit inflation (i.e. a period of ‘stagflation’), and high levels of trade union militancy. The most dramatic period during the episode occurred in 1976, involving a split Labour Government under two different leaders, with a leadership election following a sudden prime ministerial resignation. That government pursued fiscal squeeze against the background of a deep currency crisis and bailout deals with outside lenders (the US Government and the IMF). The squeeze episode also led to some important institutional developments, producing the first major privatization since the 1950s and a new system of controlling public spending through ‘cash limits’.

EXPRESS: The Role of Patient Satisfaction in Hospitals’ Medicare Reimbursements

2020 ◽  
pp. 074391562098472
Author(s):  
Lu Liu ◽  
Dinesh K. Gauri ◽  
Rupinder P. Jindal
Keyword(s):  
Patient Satisfaction ◽  
Pain Management ◽  
Hospital Care ◽  
Pay For Performance ◽  
Data Sources ◽  
Satisfaction Survey ◽  
The Us ◽  
Performance System ◽  
Diverse Data

Medicare uses a pay-for-performance program to reimburse hospitals. One of the key input measures in the performance formula is patient satisfaction with their hospital care. Physicians and hospitals, however, have raised concerns especially about questions related to patient satisfaction with pain management during hospitalization. They report feeling pressured to prescribe opioids to alleviate pain and boost satisfaction survey scores for higher reimbursements. This over-prescription of opioids has been cited as a cause of current opioid crisis in the US. Due to these concerns, Medicare stopped using pain management questions as inputs in its payment formula. We collected multi-year data from six diverse data sources, employed propensity score matching to obtain comparable groups, and estimated difference-in-difference models to show that, in fact, pain management was the only measure to improve in response to pay-for-performance system. No other input measure showed significant improvement. Thus, removing pain management from the formula may weaken the effectiveness of HVBP program at improving patient satisfaction, which is one of the key goals of the program. We suggest two divergent paths for Medicare to make the program more effective.

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