State government finances: World War II to the current crisis

This article will explore the extent, causes, and proposed solutions of the current fiscal crisis from a historical perspective of state finance. Although the current fiscal crisis is severe, it becomes more difficult to assess unless one has a more complete understanding of the historical changes that have occurred in state revenue streams. This article will address the role of major revenue sources in the context of the current slowdown and also investigate how reliance on various revenue sources has changed over the past 50 years. The role of non-traditional revenue sources, such as state lotteries and casino gambling, will also be discussed. The article further addresses various fiscal institutions, such as tax and expenditure limitation laws, rainy day funds, and balanced budget rules, and explores the role each play in state budgeting and finance.Taxation ; Budget ; Finance, Public

Red ink in the rearview mirror: local fiscal conditions and the issuance of traffic tickets

Municipalities have revenue motives for enforcing traffic laws in addition to public safety motives because many traffic offenses are punished via fines and the issuing municipality often retains the revenue. Anecdotal evidence supports this revenue motive. We empirically test this revenue motive using panel data on North Carolina counties. We find that significantly more tickets are issued in the year following a decline in revenue, but the issuance of traffic tickets does not decline in years following revenue increases. Our results suggest that tickets are used as a revenue generation tool rather than solely a means to increase public safety. ; Formerly titled: Are traffic tickets countercyclical?Local government

State government finances: World War II to the current crises

This article examines the current state budget crises from a historical perspective. The role of major expenditures and revenue sources in the context of the current slowdown and how reliance on various revenue sources has changed since World War II are addressed. Tax revenue variability over the business cycle and the use of nontraditional revenue sources, such as state lotteries and casino gaming, are also discussed. The article further comments on the role of fiscal institutions, such as tax and expenditure limitation laws, rainy day funds, and balanced budget rules, in state budgeting and finance.Taxation ; Budget ; Finance, Public

Impact of Scribes with Flow Coordination Duties on Throughput in an Academic Emergency Department

Introduction: With the increasing influence of electronic health records in emergency medicine came concerns of decreasing operational efficiencies. Particularly worrisome was increasing patient length of stay (LOS). Medical scribes were identified to be in a good position to quickly address barriers to treatment delivery and patient flow. The objective of this study was to investigate patient LOS in the mid- and low-acuity zones of an academic emergency department (ED) with and without medical scribes.Methods: A retrospective cohort study compared patient volume and average LOS between a cohort without scribes and a cohort after the implementation of a scribe-flow coordinator program. Patients were triaged to the mid-acuity Vertical Zone (primarily Emergency Severity Index [ESI] 3) or low-acuity Fast Track (primarily ESI 4 and 5) at a tertiary academic ED. Patients were stratified by treatment zone, acuity level, and disposition.Results: The pre-intervention and post-intervention periods included 8900 patients and 9935 patients, respectively. LOS for patients discharged from the Vertical Zone decreased by 12 minutes from 235 to 223 minutes (p<0.0001, 95% confidence interval [CI], -17,-7) despite a 10% increase in patient volume. For patients admitted from the Vertical Zone, volume increased 13% and LOS remained almost the same, increasing from 225 to 228 minutes (p=0.532, 95% CI, -6,12). For patients discharged from the Fast Track, volume increased 14% and LOS increased six minutes, from 89 to 95 minutes (p<0.0001, 95% CI, 4,9). Predictably, only 1% of Fast Track patients were admitted.Conclusion: Despite substantially increased volume, the use of scribes as patient flow facilitators in the mid-acuity zone was associated with decreased LOS. In the low-acuity zone, scribes were not shown to be as effective, perhaps because rapid patient turnover required them to focus on documentation

A spatial analysis of state banking regulation

We use a spatial model to investigate a state’s choice of branch banking and interstate banking regimes as a function of the regime choices made by other states and other variables suggested in the literature. We extend the basic spatial econometric model by allowing spatial dependence to vary by geographic region. Our findings reveal that spatial effects have a large, statistically significant impact on state regulatory regime decisions. The importance of spatial correlation in the setting of state banking policies suggests the need to consider spatial effects in empirical models of state policies in general.Banks and banking ; Bank supervision

Regional disparities in the spatial correlation of state income growth

This paper presents new evidence of spatial correlation in U.S. state income growth. We extend the basic spatial econometric model used in the growth literature by allowing spatial correlation in state income growth to vary across geographic regions. We find positive spatial correlation in income growth rates across neighboring states, but that the strength of this spatial correlation varies considerably by region. Spatial correlation in income growth is highest for states located in the Northeast and the South. Our findings have policy implications both at the state and national level, and also suggest that growth models may benefit from incorporating more complex forms of spatial correlation.Regional economics ; Income distribution

Identification of putative steroid receptor antagonists in bottled water : combining bioassays and high-resolution mass spectrometry

Endocrine disrupting chemicals (EDCs) are man-made compounds interfering with hormone signaling and thereby adversely affecting human health. Recent reports provide evidence for the presence of EDCs in commercially available bottled water, including steroid receptor agonists and antagonists. However, since these findings are based on biological data the causative chemicals remain unidentified and, therefore, inaccessible for toxicological evaluation. Thus, the aim of this study is to assess the antiestrogenic and antiandrogenic activity of bottled water and to identify the causative steroid receptor antagonists. We evaluated the antiestrogenic and antiandrogenic activity of 18 bottled water products in reporter gene assays for human estrogen receptor alpha and androgen receptor. Using nontarget high-resolution mass spectrometry (LTQ-Orbitrap Velos), we acquired corresponding analytical data. We combined the biological and chemical information to determine the exact mass of the tentative steroid receptor antagonist. Further MS(n) experiments elucidated the molecule's structure and enabled its identification. We detected significant antiestrogenicity in 13 of 18 products. 16 samples were antiandrogenic inhibiting the androgen receptor by up to 90%. Nontarget chemical analysis revealed that out of 24520 candidates present in bottled water one was consistently correlated with the antagonistic activity. By combining experimental and in silico MS(n) data we identified this compound as di(2-ethylhexyl) fumarate (DEHF). We confirmed the identity and biological activity of DEHF and additional isomers of dioctyl fumarate and maleate using authentic standards. Since DEHF is antiestrogenic but not antiandrogenic we conclude that additional, yet unidentified EDCs must contribute to the antagonistic effect of bottled water. Applying a novel approach to combine biological and chemical analysis this is the first study to identify so far unknown EDCs in bottled water. Notably, dioctyl fumarates and maleates have been overlooked by science and regulation to date. This illustrates the need to identify novel toxicologically relevant compounds to establish a more holistic picture of the human exposome

U.S. Graduate Student Travel to the Second AgentLink European Agent Systems Summer School (EASSS) 2000

This award supports international travel for fifteen U.S. graduate students who would not otherwise be able to attend the Second AgentLink European Agent Systems Summer School being held in Saarbrucken, Germany, from August 14-18, 2000. AgentLink, Europe\u27s ESPRIT-funded Network of Excellence for agent-based computing, organizes the school (http://www.agentlink.org). It is a world-class event that will bring together internationally recognized researchers in the area of autonomous agents and multi-agent systems to present introductory and advanced courses in the theoretical and practical aspects of agent-based computing. The objective of this award is to encourage and enable U.S. graduate students of outstanding merit who are interested in research in agent systems but have no current funding to attend this event. This travel grant will cover their travel, hotel, registration fees, and some subsistence. The Europeans are giving similar support to their graduate students (i.e., those at European universities who are registered AgentLink members). This travel grant allows a strong and diverse group of US graduate students to attend EASSS 2000 rather than just a small group of elite researchers. Further, because the summer school is in Europe, it provides a unique opportunity for American researchers to have direct contact with their European colleagues

Impact and Recovery Process of Mini Flash Crashes: An Empirical Study

In an Ultrafast Extreme Event (or Mini Flash Crash), the price of a traded stock increases or decreases strongly within milliseconds. We present a detailed study of Ultrafast Extreme Events in stock market data. In contrast to popular belief, our analysis suggests that most of the Ultrafast Extreme Events are not primarily due to High Frequency Trading. In at least 60 percent of the observed Ultrafast Extreme Events, the main cause for the events are large market orders. In times of financial crisis, large market orders are more likely which can be linked to the significant increase of Ultrafast Extreme Events occurrences. Furthermore, we analyze the 100 trades following each Ultrafast Extreme Events. While we observe a tendency of the prices to partially recover, less than 40 percent recover completely. On the other hand we find 25 percent of the Ultrafast Extreme Events to be almost recovered after only one trade which differs from the usually found price impact of market orders