Towson University Department of Economics Working Paper Series
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Violence against children in Nyarugusu Refugees Camp: reporting and perceptions across generations
(Towson University. Department of Economics, 2018-03)There are over two million displaced children worldwide living in established refugee camps. Many of these children have escaped violent conflict in their country, but still are victims of violence in camps. Yet, little ... -
Annuity markets and capital accumulation
(Towson University. Department of Economics, 2018-04)We examine how the absence of annuities in financial markets affects capital accumulation in a two-period overlapping generations model. Our findings indicate that the effect on capital is ambiguous in general equilibrium, ... -
Inflation expectations in India: learning from household tendency surveys
(Towson University. Department of Economics, 2018-08)Using a large household survey conducted by the Reserve Bank of India since 2005, we estimate the dynamics of aggregate inflation expectations over a volatile inflation regime. A simple average of the quantitative responses ... -
International propagation of shocks: a dynamic factor model using survey forecasts
(Towson University. Department of Economics, 2018-09)This paper studies the pathways for the propagation of shocks across G7 and major Asia-Pacific countries using multi-horizon forecasts of real GDP growth from 1995 to 2017. We show that if the forecasts are efficient in ... -
A macroeconomic analysis of energy subsidies in a small open economy
(Towson University. Department of Economics, 2013)We construct a dynamic model of a small open economy to analyze the effects of large energy subsidies. The model includes domestic energy production and consumption, trade in energy at world market prices, as well as private ... -
Transfers and labor market behavior of the elderly in developing countries: theory and evidence from Vietnam
(Towson University. Department of Economics, 2009-08-28)In this paper we argue that the strategic interaction between the labor supply decision of the elderly and private transfers from their children lowers the opportunity cost of leisure of the elderly. This in turn magnifies ... -
Global social interactions with sequential binary decisions: the case of marriage, divorce, and stigma
(Towson University. Department of Economics, 2010-01-23)This paper studies global social interactions in a stylized model of marriage and divorce with complementarities across agents. The key point of departure from traditional models of social interactions is that actions are ... -
Health care financing over the life cycle, universal medical vouchers and welfare
(Towson University. Department of Economics, 2010-01)In this paper we develop a general equilibrium overlapping generations (OLG) model with health shocks to analyze the life-cycle pattern of insurance choice and health care spending. We use data from the Medical Expenditure ... -
Does the availability of parental health insurance affect the college enrollment decision of young Americans?
(Towson University. Department of Economics, 2010-06)The present study examines whether the college enrollment decision of young individuals (student full-time, student part-time, non-student) depends on health insurance coverage via a parent’s family health plan. Our findings ... -
Subjective health expectations
(Towson University. Department of Economics, 2010)Subjective health expectations are derived using data from the Health and Retirement Study (HRS). We first use a Bayesian updating mechanism to correct for focal point responses and reporting errors of the original health ... -
Medical consumption over the life cycle: facts from a U.S. medical expenditure panel survey
(Towson University. Department of Economics, 2010)We investigate the association between age and medical spending in the U.S. using data from the Medical Expenditure Panel Survey (MEPS). We estimate a partial linear seminonparametric model and construct “pure” life-cycle ... -
The macroeconomics of heath savings accounts
(Towson University. Department of Economics, 2010)We analyze whether the introduction of Health Savings Accounts (HSAs), which is a health insurance reform coupled with a capital tax reform, can reduce health care expenditures in the United States, while simultaneously ... -
Does health insurance decrease health expenditure risk in developing countries? the case of China
(Towson University. Department of Economics, 2011)This paper studies the impact of health insurance on individual out-of-pocket health expenditures in China. Using China Health and Nutrition Survey data between 1991 and 2006, we apply two-part and sample selection models ... -
The extension of social security coverage in developing countries
(Towson University. Department of Economics, 2011-11-08)We study the dynamic general equilibrium effects of introducing a social pension pro- gram to elderly informal sector workers in developing countries who lack formal risk sharing mechanisms against income and longevity ... -
Regulatory enforcement, politics, and institutional distance: OSHA inspections 1990-2010
(Towson University. Department of Economics, 2013-04-25)We explore the determinants of inspection outcomes across 1.6 million Occupational Safety and Health Agency audits from 1990 through 2010. We find that discretion in enforcement differs in state and federally conducted ... -
Fiscal austerity measures: spending cuts vs. tax increases
(Towson University. Department of Economics, 2013-08-19)We formulate an overlapping generations model with skill heterogeneity and productive and non-productive government programs to study the macroeconomic and intergenera- tional welfare effects caused by risk premium shocks ... -
A macroeconomic analysis of the fiscal system in Egypt
(Towson University. Department of Economics, 2010-10-27)We construct a dynamic general equilibrium model to analyze the fiscal situ- ation of Egypt. We model Egypt as a small open economy that takes real interest rates and world prices of fuel as given. Since a large component ... -
Market inefficiency, insurance mandate and welfare: U.S. health care reform 2010
(Towson University. Department of Economics, 2014-09)We quantify the effects of the Affordable Care Act (ACA) using a stochastic general equilibrium overlapping generations model with endogenous health capital accumulation calibrated to match U.S. data on health spending and ... -
Social health insurance: a quantitative exploration
(Towson University. Department of Economics, 2016-06)We quantify the welfare implications of three alternative approaches to providing health insurance: (i) a US-style mix of private and public health insurance, (ii) compulsory univer- sal public health insurance (UPHI) and ... -
Aging and health financing in the U.S.: a general equilibrium analysis
(Towson University. Department of Economics, 2016)We quantify the effects of population aging on the U.S. healthcare system. Our analysis is based on a stochastic general equilibrium overlapping generations model of endogenous health accumulation calibrated to match ...
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