New energy storage concept uses tapes

Energy storage system uses movable permeable tapes with cathode and electrolyte material that is drawn across an anode to produce electric power. The system features long shelf life, high efficiency, and flexible operation

Public Health Insurance and Private Savings

Recent theoretical work suggests that means and asset-tested social insurance programs can explain the low savings of lower income households in the United States. We assess the validity of this hypothesis by investigating the effect of Medicaid, the health insurance program for low-income women and children, on savings behavior. We do so using data on asset holdings from the Survey of Income and Program Participation, and on consumption from the Consumer Expenditure Survey, matched to information on the eligibility of each household for Medicaid. Exogenous variation in Medicaid eligibility is provided by the dramatic expansion of this program over the 1984–1993 period. We document that Medicaid eligibility has a sizeable and significant negative effect on wealth holdings; we estimate that in 1993 the Medicaid program lowered wealth holdings by 17.7 percent among the eligible population. We confirm this finding by showing a strong positive association between Medicaid eligibility and consumption expenditures; in 1993, the program raised consumption expenditures among eligibles by 5.2 percent. We also exploit the fact that asset testing was phased out by the Medicaid program over this period to document that these Medicaid effects are stronger in the presence of an asset test, confirming the importance of asset testing for household savings decisions.

One Thing After Another: Why the Passage of Time Is Not an Illusion

Does time seem to pass, even though it doesn’t, really? Many philosophers think the answer is ‘Yes’—at least when ‘time’s passing’ is understood in a particular way. They take time’s passing to be a process by which each time in turn acquires a special status, such as the status of being the only time that exists, or being the only time that is present. This chapter suggests that, on the contrary, all we perceive is temporal succession, one thing after another, a notion to which modern physics is not inhospitable. The contents of perception are best described in terms of ‘before’ and ‘after’, rather than ‘past’, ‘present, and ‘future’