The impact of medical and nursing home expenses and social insurance

We consider a life-cycle model with idiosyncratic risk in labor earnings, out-of-pocket medical and nursing home expenses, and survival. Partial insurance is available through welfare, Medicaid, and social security. Calibrating the model to the United States, we find that 12 percent of aggregate savings is accumulated to finance and self-insure against old-age health expenses given the absence of complete public health care for the elderly and that nursing home expenses play an important role in the savings of the wealthy and on aggregate. Moreover, we find that the aggregate and distributional effects of public health care provision are highly dependent on the availability of other programs making up the social insurance system.

The Impact of Medical and Nursing Home Expenses and Social Insurance Policies on Savings and Inequality

We consider a life-cycle model with idiosyncratic risk in labor earnings, out-of-pocket medical and nursing home expenses, and survival. Partial insurance is available through welfare, Medicaid, and social security. Calibrating the model to the U.S., we find that nursing home expenses play an important role in the savings of the wealthy. In our policy analysis, we find that elimination of out-of-pocket expenses through public health care would reduce the capital stock by 12 percent, Medicaid and old-age welfare programs crowd out 44 percent of savings and greatly increase wealth inequality, and social security effects are influenced by out-of-pocket health expenses.social insurance; medical expenses, nursing home expenses; wealth inequality; savings

How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality

We develop a quantitative theory of human capital investment in order to evaluate the magnitude of cross-country differences in total factor productivity (TFP) that explains the variation in per-capita incomes across countries. We build a heterogeneous-agent economy with cross-sectional variation in ability, schooling, and expenditures on schooling quality. In our theory, the parameters governing human capital production and random ability process have important implications for a set of cross-sectional statistics - Mincer return, variance of earnings, variance of schooling, and intergenerational correlation of earnings. These restrictions of the theory and U.S. household data are used to pin down the key parameters driving the quantitative implications of the theory. Our main finding is that human capital accumulation strongly amplifies TFP differences across countries. In particular, we find an elasticity of output per worker with respect to TFP of 2.8: a 3-fold difference in TFP explains a 20-fold difference in output per worker. We argue that the cross-country differences in human capital implied by the theory are consistent with a wide array of evidence including earnings of immigrants in the United States, average mincer returns across countries, and the relationship between average years of schooling and per-capita income across countries. The theory implies that using Mincer returns to measure human capital understates differences across countries by a factor of 2.output per worker, TFP, human capital, heterogeneity, inequality

How Important is Human Capital? A Quantitative Theory Assessment of World Income Inequality

We develop a quantitative theory of human capital investments in order to evaluate the magnitude of cross-country differences in total factor productivity (TFP) that explains the variation in per-capita incomes across countries. We build a heterogeneous-agent economy with cross-sectional variation in ability, schooling, and expenditures on schooling quality. By embedding our analysis in a growth model with tradable and non-tradable sectors, we model sectorial productivity differences across countries, as documented in Hsieh and Klenow (2007). The parameters governing human capital production and random ability and taste processes are restricted by a set of cross-sectional data moments such as variances and intergenerational correlations of earnings and schooling, as well as slope coefficient and R-squared in a Mincer regression. Our main finding is that human capital accumulation strongly amplifies TFP differences across countries: To explain a 20-fold difference in the output per worker the model requires a 5-fold difference in the TFP of the tradable sector, versus an 18-fold difference if human capital is fixed across countries. Moreover, we find that sectorial productivity differences play a prominent role in quantitative implications of the theory.output per worker, TFP, human capital, schooling, heterogeneity, inequality

How important is human capital? A quantitative theory assessment of world income inequality

We develop a quantitative theory of human capital investments in order to evaluate the magnitude of cross-country differences in total factor productivity (TFP) that explains the variation in per-capita incomes across countries. We build a heterogeneous-agent economy with cross-sectional variation in ability, schooling, and expenditures on schooling quality. By embedding our analysis in a growth model with tradable and non-tradable sectors, we model sectorial productivity differences across countries, as documented in Hsieh and Klenow (2007). The parameters governing human capital production and random ability and taste processes are restricted by a set of cross-sectional data moments such as variances and intergenerational correlations of earnings and schooling, as well as slope coefficient and R2 in a Mincer regression. Our main finding is that human capital accumulation strongly amplifies TFP differences across countries: To explain a 20-fold difference in the output per worker the model requires a 5-fold difference in the TFP of the tradable sector, versus an 18-fold difference if human capital is fixed across countries. Moreover, we find that sectorial productivity differences play a prominent role in quantitative implications of the theory.

Technology integration into the elementary school curriculum

A new generation of students born after 1985 – the Net Generation or Digital Natives – is now entering public schools. Historical overview shows the picture of growing computer use by children in homes and in schools for the past 10 years. ICT (Information and Communication Technologies) literacy skills and tools help students to acquire the skills needed to use the technologies within the classroom. National Educational Technology Standards (NETS) and NETS performance indicators provide guidelines for teachers of what students should know and be able to do with technologies by the end of every grade level. This paper describes the ideas of various authors on how to integrate computer technologies into the elementary school curriculum and to overcome barriers of technology integration. The paper finishes with conclusions and recommendations for the integration of technology in schools

Nursing Homes in Equilibrium: Implications for Long-term Care Policies

We build an equilibrium model of the market for nursing home care with decision-makers on both sides of the market. The nursing home demand arises as a result of stochastic dynamic optimizations by households heterogeneous in age, health, wealth; and the cost of home-and-community-based care. On the supply side, locally competitive nursing homes decide prices and care intensity. The government pays for the long-term care of the poorest. We estimate the model parameters using Health and Retirement Survey and simulate the model to quantitatively evaluate the effects of long-term care policies on prices, intensities, care allocation, and welfare.U.S. Social Security Administration, RDR18000002-02, UM20-13http://deepblue.lib.umich.edu/bitstream/2027.42/168220/1/wp414.pdfDescription of wp414.pdf : working paperSEL

Sensitivity of Janthinobacterium Lividum to Low Concentrations of Hydrogen Peroxide and the Effect of Mild Oxidative Stress on Pigment Yield

In the course of assessing the sensitivity of the Janthinobacterium lividum VKM B-3515 strain to low concentrations of hydrogen peroxide, it was found that at a content of 0.003% H2O2, the growth properties of the bacterium during submerged cultivation without pigmentation differed statistically insignificantly relative to the control variant at 16 hours of incubation and beyond. Whereas in the presence of peroxide at 12 hours the optical density was lower than in the control by 97%. When cultivating by the surface method, the respiration intensity did not significantly differ between the control and experimental variants. However, during the extraction of the pigment, it was found that in the presence of hydrogen peroxide, the optical density of the acetone extract significantly exceeds the control variant by 28%. It can be assumed that, at the same growth parameters of the culture, the biosynthesis of violacein is stimulated and the population can adapt to the peroxide content, and the peroxide concentration itself decreases due to the cost of catalytic reactions. Further studies of the sensitivity of J. lividum VKM B-3515 to various oxidizing agents will allow us to consider the effect of weak oxidative stress on the biosynthesis of violacein

Механизм спектральных сдвигов в материалах химических сенсоров на основе фотонных кристаллов

Photonic crystals are fabricated on two different substrates. The first structure consists of a PDMS-covered photonic crystal which is deposited on a PTFE film. The other one consists of a PDMS-covered photonic crystal which is deposited on a glass surface. Diffuse reflective spectra of both structures were analyzed. It was found that spectral shift induced by adding of the organic compound on a PDMS layer occurs only in the first structure. Estimations indicate the connection of diffuse spectral shifts with the effective refractive index and lattice parameter changing.Проведены эксперименты по формированию фотонных кристаллов (ФК) на двух видах подложек. Проанализирован спектральный сдвиг отраженного излучения от структуры ФК, с нанесенным на него покрытием. Даны предварительные оценки оптических параметров, характеризующих структуру ФК