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The rapid increase in health expenditure has become a major concern for both households and governments in the United States. This paper investigates the long-run dynamics of health care expenditure in the United States over the period 1991-2014 using the National Health Expenditure Data from the Centers for Medicare & Medicaid Services. We use an Auto Regressive Distributed Lag (ARDL) technique to estimate the long-run dynamics and short-run adjustment of health care expenditure to changes in government insurance enrollment, controlling for income, health, uninsured, and trend to account for technological changes. The results indicate that the instance and type of insurance affect per capita expenditure; in particular, increases in Medicaid enrollment lead to higher per capita expenditure levels relative to other insurance groups and uninsured, while increases in Medicare enrollment lead to lower per capita expenditure levels., Rapidni rast izdataka u zdravstvu postao je glavna briga i za kućanstvo i za vlade u SAD-u. Ovaj rad istražuje dugoročnu dinamiku izdataka za zdravstvenu skrb u SAD-u razdoblju od 1991. do 2014. koristeći podatke o nacionalnim zdravstvenim rashodima iz Centra za medicinsku zaštitu (Medicare) i usluge medicinske pomoći (Medicaid). Koristi se ARDL tehnika za procjenu dugoročne dinamike i kratkoročne prilagodbe izdataka za zdravstvenu njegu u sklopu vladinih promjena u upisima unutar državnog osiguranja zatim kroz kontrolu prihoda, zdravlja, neosiguranih osoba te kroz trendove kako bi se u obzir uzele i tehnološke promjene. Rezultati ukazuju da slučaj i vrsta osiguranja utječu na izdatke po glavi stanovnika: izričito se ističe povećanje upisa unutar centra Medicaid čiji rast upisanih dovodi do viših razina rashoda po glavi stanovnika u odnosu na neosigurane i drugih grupa osiguranih pojedinaca dok s druge strane povećanje upisa unutar Medicare centra dovodi do nižih razina izdataka po glavi stanovnika.

We formally examine the role of litigation risk in initial public offering (IPO) pricing. The underwriter's pricing decision trades off current revenue against expected future litigation costs, both of which are increasing in the IPO price. Given a time-consistency constraint and rational expectations on the part of investors, however, the "standard" litigation risk argument does not lead to equilibrium underpricing. We develop a richer model that provides sufficient conditions under which there is equilibrium underpricing. The issuer's choice of employing an underwriter versus floating the IPO on its own is examined, and various testable implications of the model are developed. Article published by Oxford University Press on behalf of the Society for Financial Studies in its journal, The Review of Financial Studies.

"We're born alone, we live alone, we die alone. Only through our love and friendship can we create the illusion for the moment that we're not alone" ("Loneliness"). This definition of the human condition by Orson Welles, the celebrated American actor and producer, aptly sums up the paradoxical nature of human experience: isolation and connection. In psychoanalysis, object relations theorists, in particular, have formulated ideas about the nature of the infant's early attachment to the mother, or primary care-giver, and its role in the development of a healthy ego. In essence, object relations theorists posit that an early, secure emotional attachment enables the individual to pass through maturational stages of development that decrease the emotional dependence on care-givers, allowing separation and the ability to form other significant bonds. This study examines the theme of isolation and connection in the life and selected works of the contemporary British novelist Lisa St. Aubin de Terán, by applying the methods of some influential psychoanalytic thinkers, notably Anthony Storr, who has written extensively on the nature of creativity and the relationship between the internal and external world of the artist. A psychoanalytic discussion of St. Aubin de Terán's narratives as autobiographical acts is relevant because of the extent to which she has used her creative energies in a search for both personal and artistic identity. I concentrate on the three novels Keepers of the House (1982), Joanna (1991) and Nocturne (1992) because I believe them to be her strongest works. Written over a ten year period, they show a clear development in St. Aubin de Terán's exploration of isolation and connection as having both positive and negative possibilities and consequences. Master of Arts (MA)

We explain the puzzling empirical evidence on the investory accounting choice through a management signaling argument. We assert that firms with lower nominal production costs than other firms have relatively less to gain from the tax advantages assocaited with LIFO adoption. For these firms, future nominal production costs are lower due to increased efficiency or technological improvements. Because of asymmetric information about future costs, and the moral hazard problem of direct communication, the managers of the more efficient firms are able to credibly communicate their production superiority by using the FIFO accounting method. We show in this paper that, if firms can choose the fraction of their inventory which is allocated to FIFO and LIFO, then a separating equillibrium exists in which firms with lower production costs signal their greater efficiency by allocating a higher fraction of their invetory to FIFO.

The thesis attempts to construct a theory of the influence of personality on the effect of media on political attitudes and behaviour. Since the media are considered to be part of the environment, the theory is based on assumptlons about personality-environmental interaction. Although the main scope of the thesis is theoretical, a link with the "real world" is established through the use of data which are employed in the construction of three personality types and in the development of a suggested methodological prooedure for testing the theory. This notion of types is the pivotal point of the thesis. It represents an attempt to steer the study of media influence in a new dlrection which emphasises the whole man rather than just one aspect of him, either "social" or psychological. Master of Arts (MA)