The existence of rational expectations equilibrium: a retrospective

This paper provides a selective review of theoretical research on the consistency of rational expectations equilibrium and its properties in microeconomic models. The general equilibrium framework is emphasized throughout the paper. After defining rational expectations equilibrium for a pure exchange economy, the paper presents a simple counterexample to illustrate that rational expectations equilibria need not exist. Results are summarized for the generic existence of fully revealing rational expectations equilibria in smooth economies satisfying additional dimensionality assumptions. Then the rational expectations equilibrium existence problem is related to earlier analysis of informationally decentralized allocation mechanisms. Next the efficiency properties of rational expectations equilibrium allocations are examined. Finally, the possibilities for partially revealing rational expectations equilibria are discussed.Equilibrium (Economics) - Mathematical models ; Rational expectations (Economic theory)

Expectations equilibria with dispersed forecasts

AbstractA dispersion condition for traders' forecasts in a general equilibrium model with uncertainty and asymmetric information yields improved results for some (microeconomic) situations in which rational expectations equilibria need not exist. The hypothesis of suitably dispersed forecasts implies that consumers' aggregate excess demand is a continuous function and therefore a fixed point theorem may be applied to obtain a price vector (for each state of the world) such that markets clear. Stronger assumptions give existence of approximately rational expectations equilibria and the convergence of forecast distributions to rational expectations

The Invisible Side of Military Careers : An Examination of Employment and Well-Being Among Military Spouses

The link between employment and well-being is well-documented. However, limited research is available examining how employment affects the well-being of military spouses. Using data from the 2003 Air Force Community Assessment Survey, this study examines the impact of employment characteristics on depression levels, satisfaction with emotional well-being, and life satisfaction for military spouses. Results indicate that being unemployed and looking for employment outside of the home is detrimental to well-being for this group. Other personal, familial, and military factors are also discussed in relationship to employment and well-being of military spouses. Practical implications and suggestions for further research are discussed

The impact of the digital divide on scholarly communication.

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Integrating content communities into your library

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Cost of care for hospitalized patients with pulmonary mycobacterial diseases in the United States.

Background: Pulmonary mycobacterial diseases describe both tuberculosis (TB) and nontuberculous mycobacteria (NTM). Few data are available measuring the cost burden of mycobacterial diseases on the national level. The purpose of this study was to evaluate the cost burden and measure emerging trends in hospitalization of pulmonary TB and NTM in the US from 2001 through 2012. Methods: This study was a retrospective community based cost analysis of hospitalized patients with a principal diagnosis of pulmonary mycobacterial diseases from 2001 through 2012. Data for pulmonary TB and NTM were retrieved from the Healthcare Cost and Utilization Project (HCUP), US Department of Health and Human Services. The statistical significance of observed trends of NTM and TB national hospital costs was calculated using Poisson log-linear regression. Results: A total of 20,049 hospital admissions were reported for pulmonary NTM and 69,257 for pulmonary TB in the US from 2001 through 2012. The total associated cost of these admissions was $903,767,292 for pulmonary NTM and$2,078,113,317 for pulmonary TB. During the study period, the national hospital costs of pulmonary NTM increased at a statistically significant rate in the US over each year (P=0.001). However, no such increase was found for national hospital costs of pulmonary TB. Conclusion: The national hospital cost of NTM management is increasing. These results emphasize the importance of continued research in pulmonary NTM in order to improve current guidelines in prevention and treatment strategies

Challenges of the present lead to benefits for the future in automation (poster)

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Health and Economy in COVID-19 Era: A Plan for Reconstituting Long-Term Economic Security

© Copyright © 2020 Allen and Mirsaeidi. COVID-19 is a rapidly evolving pandemic, which represents a multifaceted global threat. Given the economic consequences, most researchers agree that social distancing measures are an effective strategy relative to the cost. Previous studies indicate that community size as well as viral population risk groups should be considered in forming an effective targeted social distancing strategy. The resultant delay in the occurrence of infections in order to support vaccine development has been shown to be an effective policy. However, a return to normalcy from the current situation would require policy intervention that transforms the American economy along with continued targeted social distancing and the use of medical science as a tool to facilitate gradual personal interactions of low-risk individuals. We believe that the adoption of rapid IgG testing would be best suitable for widespread population-level screening as part of a comprehensive plan for incrementally rebuilding the in-person workforce. As such, this crisis represents an opportunity for the United States to increase automation of the manufacturing sector, shrink supply chains, and create higher-level jobs in order to reduce the dependency on other countries for critical supplies. This economic transition to better utilize technology along with reconstruction of the workforce could improve the standard of living for many Americans as well as better prepare the US for future pandemics