In recent decades, the increase in the frequency and the severity of natural disasters has posed growing challenges to governments’ disaster response activities. Disasters can have a considerable financial impact on local governments, but this impact has not been systematically analyzed. This study assesses disaster impact using 17 years of panel data (between 1996 and 2012) from the city and county governments in New York state. The research examines many aspects of local governments’ financial conditions, including liquidity, fund balance, and debt. It tests whether governments’ financial conditions are affected by disasters and whether fiscal institutions moderate disasters’ impacts. The results show that a local government's unreserved fund balance and disaster reserve significantly affect its financial condition, while financial condition indicators are not significantly impacted by natural disasters when the fiscal institution variables are controlled.
Objective
To assess the impact of the NIH CTSA program on patient enrollment in clinical trials sponsored/collaborated by CTSA consortium institutions.
Material and Methods
Using publicly available clinical trial data at ClinicalTrials.gov, we identify positive trend changes in the number of patients enrolled in clinical trials performed at CTSA consortium institutions over the years before and after their respective CTSA award dates. CTSA consortium institutions were matched with similar non-CTSA institutions.
Results
As compared to matched non-CTSA institutions CTSA consortium sites noted an increase in patient enrollment after the CTSA awards. In particular, we detected a change-point, where a new enrollment trend emerged, 338 days after the CTSA award. No such trend was noted over the same period in the non CTSA institutions.
Conclusion
Our analysis provides evidence that the NIH CTSA funding program made a positive impact on patient enrollment.
This study uses a Mendelian randomization approach to resolve the difficulties of identifying the causal relationship between height and earnings by using a unique sample of 3,427 respondents from mainland China with sociodemographic information linked to individual genotyping data. Exploiting genetic variations to create instrumental variables for observed height, we find that while OLS regressions yield that an additional centimeter in height is associated with a 10-13% increase in one's annual earnings, IV estimates reveal only an insubstantial causal effect of height. Further analyses suggest that the observed height premium is likely to pick up the impacts of several cognitive/noncognitive skills on earnings confounded in previous studies, such as mental health, risk preference, and personality factors. Our study is the first empirical study that employs genetic IVs in developing countries, and our results contribute to the recent debate on the mechanism of height premium.
In recent years, a growing number of capital market professionals have projected a low-return environment in US investment portfolios – where returns in most asset classes are expected to drop below historical rates. While these specific forecasts may not fully materialize, it is natural for cyclical investment markets to go through extended periods of lower returns, creating significant risks for public pension systems which rely on investment returns to sustain their long-term solvency and offset budgetary contributions. This paper uses a simulation method to examine the long-term effect of a low-return environment on the unfunded liabilities and contribution costs of US public pension systems while considering the moderating effects of asset allocation strategies, amortization approaches, and contribution policies.
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