We study simultaneous investment and financing decisions made by incumbent owners in the presence of capital market imperfections. We present a theory for how the optimal combination of debt and equity financing depends on the firm's internal funds. We identify complementarities between the two...

We analyze the optimal procurement of labor, which can be supplied either internally, based on wage negotiations, or acquired at terms negotiated with an external subcontractor. The novel feature of our model is that the subcontractor's bargaining power is a function of the proportion of output...

This study uses differences in pension laws between two adjacent states to investigate the causal effect of pension income longevity. I examined Confederate pensions in Texas and Oklahoma, which enacted pension laws for veterans in 1889 and 1915 respectively. Using previously collected and newer...

This study assessed income-related health inequality and health achievement in children in China, and additionally, examined province-level variations in health achievement. Longitudinal data on 19,801 children under 18 years of age were derived from the China Health and Nutrition Survey....

Healthcare capital-to-labor ratios are examined for the 10 provincial single-payer health care plans across Canada. The data show an increasing trend - particularly during the period 1997-2009 during which the ratio as much as doubled from 3% to 6%. Multivariate analyses indicate that every...

Although a large body of research demonstrates an association between income and obesity, the causal nature of this relationship remains largely unclear. Using five biennial confidential master files (2000/01-2009/10) of the Canadian Community Health Survey, we examine the causal effect of...

Invoking Yaari's dual theory we develop a model of individual vaccination decisions that incorporates quasi-hyperbolic discounting (present-biasedness), risk aversion, and information. We test the resulting hypotheses for the flu season 2010/2011 using a representative German data set. It turns...