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Opt Out or Top Up? Voluntary Healthcare Insurance and the Public vs. Private Substitution
public provision of private goods health insurance bivariate count data model endogenous multinomial treatment simultaneous equation modeling
2012/10/24
We investigate whether people enrolled into voluntary health insurance (VHI) substitute public consumption with private (opt out) or just enlarge their private consumption, without reducing reliance u...
Factor Shares, the Price Markup, and the Elasticity of Substitution between Capital and Labor
elasticity of substitution price markup factor shares capital deepening
2012/10/23
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in re...