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Journal Article
Lessons from variations in state Medicaid expenditures
Because Medicaid is absorbing a large and growing share of government spending in every state, policymakers are under intense pressure to control the cost of this budget-breaking program. In search of clues concerning Medicaid cost containment, this article examines state data on per-recipient Medicaid spending by type of service. This effort suggests focusing on nursing homes, because per-recipient payments to these institutions are highly variable across states. Indeed, the article concludes that a key explanation for cross-state differences in per-recipient Medicaid expenses is the ...
Journal Article
Technology and growth: an overview
During the 1990s, the Federal Reserve has pursued its twin goals of price stability and steady employment with considerable success. But despite--or perhaps because of--this success, concerns about the pace of economic and productivity growth have attracted renewed attention. Many observers ruefully note that the average pace of GDP growth has remained below rates achieved in the 1960s and that a period of rapid investment in computers and other capital equipment has had disappointingly little impact on the productivity numbers. Most of the industrial world has experienced a similar decline ...
Conference Paper
Technology and growth: conference proceedings
Journal Article
The regional impact of health care reform - with a focus on New England
The United States has begun the huge task of reforming its health care system and many individuals have already begun to consider the likely impact of health care reform on their state's economy. Given the momentum of change in the private sector and at the state level, the U.S. health care system will never be the same again, with or without federal legislation. Because New England is the U.S. region most dependent on employment in health care services, concerns about the impact of health care reform are particularly acute in this area. ; Accordingly, this article presents a preliminary ...
Journal Article
Foreign investment in the United States: a cause for concern?
Journal Article
The impact of employer payments for health insurance and social security on the premium for education and earnings inequality
The trend toward increased wage and income inequality that emerged in the 1980swith "the rich getting richer and the poor poorer"has attracted a great deal of attention and concern. One aspect of this phenomenon has been the growing premium for education, with the disparity between the wage and salary earnings of the least and best educated rising since 1979. A related observation involves the increased earnings inequality among similar workers, which occurred in the 1970s as well as the 1980s.> This exploratory article seeks to broaden the discussion by asking whether the rising cost of ...
Journal Article
The dollar, structural change and the New England miracle
Journal Article
E pluribus EMU? how will Europe cope with a single currency?
Conference Paper
Seismic shifts: the economic impact of demographic change: an overview
Most economic developments are hard to predict. Considerable uncertainty surrounds forecasts for output growth, inflation, and unemployment a year from now, for instance. But demographic developments are different in this respect. Although demographic surprises abound, the major trends build slowly, and the broad contours of medium-term outcomes become discernible well in advance.