This article compares the long-run effects of changes in health conditions, population growth, price of medical care, and Medicare indemnity rate on capital formation and medical expenditures under fully funded and pay-as-you-go Medicare. Surprisingly, it is found that population growth, rising...

The author analyzes the welfare effects of privatization in a mixed duopoly model in which the wage rate for the privatized firm is determined by Nash bargaining beforehand. The evaluations are based on three-stage privatization frameworks respectively under two regimes: Cournot competition and...