Dynamic Factor Price Equalization & International Convergence

We offer a duality-based methodology for incorporating multi-sector effects of international trade into open economy macroeconomic models, developing the concepts of the dynamic factor price equalization set and the integrated intertemporal equilibrium. Under this approach, the aggregate production function depends on output prices and factor endowment stocks. It preserves all of the structure of a standard GDP function from the trade theory literature. In a two-country version of the model considered below, we examine the properties of the dynamic factor price equalization set. If the global economy is initially outside of this set, the equations of motion will pull the economy back into this set. Inside the dynamic FPE set, factor prices are equalized internationally, and with identical tastes and technology, the economy can be regarded as a fully integrated world equilibrium in a dynamic sense (the integrated intertemporal equilibrium). In this equilibrium, all of the standard properties of a closed economy one-sector neoclassical growth model hold, ruling out cycles and chaos, and allowing us to characterize the evolution of international inequality and the persistence of productivity and endowment shocks. Working from the integrated intertemporal equilibrium, we identify properties of persistence linked to inequality and real economic shocks. Cross-country differences in per capita incomes and wealth, and the factor content of trading patterns, may persist over time and even into the new steady state. This provides yet another reason why we might observe lack of income convergence internationally. In addition, real shocks in one country may be transmitted to the other country through factor markets and product prices, and may have persistent effects into the steady-state as well. The model can also generate an endogenous Balassa-Samuelson effect.Neoclassical Models of Trade, Economic Growth of Open Economies, Cross- Country Output Convergence

The effect of latent confounding processes on the estimation of the strength of causal influences in chain-type networks

The authors acknowledge GTD TauRx Therapeutics centres for generous funding of this research.Peer reviewedPublisher PD

Bias in U.S. Import Prices and Demand

The purpose of the paper is to measure the potential bias in the U.S. import price index due to the appearance of new product varieties, or new foreign suppliers, and determine the effect of this bias on the estimated income elasticity of import demand. Existing import price indexes are based on a sample of products from importing firms. We argue that if the share of import expenditure on the sampled products is falling over time, this will lead to an upward bias in the measured index. Using a correction based on the falling expenditure share on sampled countries, we find that the income elasticity of aggregate U.S. import demand is reduced from 2.5 to 1.7, or about halfway to unity. Our estimates suggest that the aggregate import price index is upward biased by about one and one-half percentage points annually.

Dynamic Factor Price Equalization & International Convergence

We offer a duality-based methodology for incorporating multi-sector effects of international trade into open economy macroeconomic models, developing the concepts of the dynamic factor price equalization set and the integrated intertemporal equilibrium. Under this approach, the aggregate production function depends on output prices and factor endowment stocks. It preserves all of the structure of a standard GDP function from the trade theory literature. In a two-country version of the model considered below, we examine the properties of the dynamic factor price equalization set. If the global economy is initially outside of this set, the equations of motion will pull the economy back into this set. Inside the dynamic FPE set, factor prices are equalized internationally, and with identical tastes and technology, the economy can be regarded as a fully integrated world equilibrium in a dynamic sense (the integrated intertemporal equilibrium). In this equilibrium, all of the standard properties of a closed economy one-sector neoclassical growth model hold, ruling out cycles and chaos, and allowing us to characterize the evolution of international inequality and the persistence of productivity and endowment shocks. Working from the integrated intertemporal equilibrium, we identify properties of persistence linked to inequality and real economic shocks. Cross-country differences in per capita incomes and wealth, and the factor content of trading patterns, may persist over time and even into the new steady state. This provides yet another reason why we might observe lack of income convergence internationally. In addition, real shocks in one country may be transmitted to the other country through factor markets and product prices, and may have persistent effects into the steady-state as well. The model can also generate an endogenous Balassa-Samuelson effect

Pomoc nebo překážka? Pohledy zaměstnance na použitelnosti elektronických záznamů (EPR) pro plánování péče o lidi s demencí v pečovatelských domech: komparativní případová studie

Charles University Faculty of Humanities STUDIA DLOUHOVĚKOSTI Pomoc nebo překážka? Pohledy zaměstnance na použitelnosti elektronických záznamů (EPR) pro plánování péče o lidi s demencí v pečovatelských domech: komparativní případová studie Summary of the dissertation Author: Mgr. Kate Shiells Supervisor: Doc. MUDr. Iva Holmerová, Ph.D. 2 Prague 2020 Přehled Pobytová zařízení poskytující péči seniorům (care homes, nursing homes) využívají stále častěji elektronické záznamy ('electronic patient records' nebo 'EPR'), k řízení dokumentace. Potenciální výhody EPR jsou: archivace informací; interoperabilita; lepší kvalita dokumentace. Nicméně využívání EPR v pečovatelských domech se v jednotlivých zemích liší. Mnohdy je ztíženo nekompatibilitou některých systémů s tímto prostředím. Navíc s EPR pro plánování péče o lidi s demencí není dostatek zkušeností. Cíl tohoto výzkumu je vypracovat doporučení pro budoucí vývoj EPR systémů pro plánování péče o lidi s demencí. Budou uskutečněny celkem čtyři případové studie čtyř pečovatelských domů v Belgii, České Republice, Španělsku a Anglii. Výzkum má dvě součásti: (i) zaprvé bude provedeno kvalitativní šetření mezi zaměstnanci ('contextual inquiry' ) s cílem zjistit í problémy spojené s využíváním EPR. Následně uskutečníme obsahovou analýzu získaných dat ('qualitatative...Charles University Faculty of Humanities Longevity Studies More of a hindrance than a help? Staff perspectives on the usability of Electronic Patient Records for planning and delivering dementia care in nursing homes: a multiple case study Summary of the dissertation Author: Mgr. Kate Shiells Supervisor: Doc. MUDr. Iva Holmerová, Ph.D. Prague 2020 2 Abstract Nursing homes are more frequently turning to the electronic patient record (EPR) to manage documentation. Potential benefits associated with EPR include the storage of longitudinal information, interoperability, and improved documentation quality. However, the uptake of EPR in nursing homes has varied considerably across countries, which has been associated with the incompatibility of some EPR systems with this environment. Furthermore, the suitability of EPR for planning dementia care is largely unknown. This study aims to produce recommendations for the future development of EPR systems for use in the assessment and care planning for people with dementia in nursing homes. Case studies of three nursing homes using EPR in Belgium, Czech Republic, and Spain were conducted. There are two elements to the study: (i) the contextual inquiry method is employed to explore usability issues with different types of end users. Data is analysed using qualitative...Doktorský obor Studia dlouhověkostiPh.D. - Longevity StudiesFakulta humanitních studiíFaculty of Humanitie

Estimates of the Elasticities of Substitution Between Imports and Home Goods for the United States: Reply

Following the two-stage budgeting approach in Deaton and Muellbauer (1980) and Deardorff and Stern (1986), the econometric estimates of import-demand elasticities in Shiells, Stern, and Deardorff (1986) were done holding within-group expenditure constant. Based on this assu;mption, the correct way to compute the rate at which imports displace the competing home good following the imposition of a tariff is to infer the cross-price elasticity of home-good demand from estimated import-demand elasticities using the group budget constraint. Employing this method, we show below that the increase in spending on home goods implied by our estimates must be less than the dollor-for-dollar assumption would imply. Rousslang's comparison of our estimates with the dollor-for dollar approach is based on the mistaken assumption that our estimates were obtained holding total expenditure, rather than within-group expenditure, constant.Research Seminar in International Economics, Department of Economics, University of Michiganhttp://deepblue.lib.umich.edu/bitstream/2027.42/100966/1/ECON409.pd

Self-reported needs and experiences of people with dementia living in nursing homes : a scoping review

Objectives: With rates of dementia continuing to rise, the impetus on improving care for people with dementia is growing. Unmet needs of people with dementia living in nursing homes have been linked with worsening neuropsychiatric symptoms, higher levels of depression, and reduced quality of life. Furthermore, proxy accounts exploring the needs of people with dementia have frequently been shown to be unreliable. Therefore, this literature review aims to explore the self-reported needs and experiences of people with dementia in nursing homes. Method: A scoping review of the literature was carried out using the databases PubMed and PsycINFO to search for relevant articles according to PRISMA guidelines. Search terms were designed to include both quantitative and qualitative study designs. Thematic synthesis was used to categorise findings into themes related to self-reported needs and experiences. Results: A total of 41 articles met the eligibility criteria. An analysis of study characteristics revealed more than half of studies used a qualitative design. Thematic synthesis resulted in eight themes: activities, maintaining previous roles, reminiscence, freedom and choice, appropriate environment, meaningful relationships, support with grief and loss, end-of-life care. Conclusion: Whilst the voice of people with dementia has previously been neglected in research, this review has shown that people with dementia in nursing homes are able to describe their experiences and communicate their needs. The findings in this review have provided a contribution towards guiding evidence-based practice that is tailored to the needs of nursing home residents with dementia