Exchange Rate Volatility and Monetary Policy
The global economy has witnessed great economic volatility in the first two decades of the 21st century.
Research
Achieving Universal Health Insurance Coverage in the United States: Addressing Market Failures or Providing a Social Floor?
The United States spends substantially more on health care than most developed countries, yet leaves a greater share of the population uninsured.
China as an International Lender of Last Resort
This paper shows that China has launched a new global system for cross-border rescue lending to countries in debt distress.
The Two-Margin Problem in Insurance Markets
Insurance markets often feature consumer sorting along both an extensive margin (whether to buy) and an intensive margin (which plan to buy).
A Different Framework to Achieve Universal Coverage in the US
The US spends substantially more on health care per capita than other high-income countries yet leaves a greater share of the population uninsured.
The Design of the RAND Health Insurance Experiment: A Retrospective
This article, prepared as part of a special issue on multiarmed experiments, describes the design of the RAND Health Insurance Experiment, paying particular attention to the choice of arms.
The Marginal Disutility from Corruption in Social Programs: Evidence from Program Administrators and Beneficiaries
Concerns about fraud in welfare programs are common arguments worldwide against such programs.
Achieving Universal Health Insurance Coverage in the United States: Addressing Market Failures or Providing a Social Floor?
The United States spends substantially more on health care than most developed countries, yet leaves a greater share of the population uninsured.
Adverse Selection and Network Design Under Regulated Plan Prices: Evidence from Medicaid
Health plans for the poor increasingly limit access to specialty hospitals. We investigate the role of adverse selection in generating this equilibrium among private plans in Medicaid.
Regulatory Incentives for Innovation: The FDA's Breakthrough Therapy Designation
Regulators of new products confront a tradeoff between speeding a new product to market and collecting additional product quality information.
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