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Priorities of the Centers for Disease Control and Prevention's 6|18 Initiative include outpatient asthma self-management education (ASME) and home-based asthma visits (home visit) as interventions for children with poorly-controlled asthma. ASME and home visit intervention programs are currently not widely available. This project was to assess the economic sustainability of these programs for state asthma control programs reimbursed by Medicaid. We used a simulation model based on parameters from the literature and Medicaid claims, controlling for regression to the mean. We modeled scenarios under various selection criteria based on healthcare utilization and age to forecast the return on investment (ROI) using data from New York. The resulting tool is available in Excel or Python. Our model projected health improvement and cost savings for all simulated interventions. Compared against home visits alone, the simulated ASME alone intervention had a higher ROI for all healthcare utilization and age scenarios. Savings were primarily highest in simulated program participants who had two or more asthma-related emergency department visits or one inpatient visit compared to those participants who had one or more asthma-related emergency department visits. Segmenting the selection criteria by age did not significantly change the results. This model forecasts reduced healthcare costs and improved health outcomes as a result of ASME and home visits for children with high urgent healthcare utilization (more than two emergency department visits or one inpatient hospitalization) for asthma. Utilizing specific selection criteria, state based asthma control programs can improve health and reduce healthcare costs. [ABSTRACT FROM AUTHOR]

New York state is at the forefront in the United States and also high on the list globally in setting ambitious targets for the transition to renewable electricity, with 70% of generation mandated to be renewable by 2030. The consequences of the associated drastic shift from conventional steam generators to a mix of wind, photovoltaic, and hydroelectric (supplemented by pumped hydro storage to ensure dispatchability) are analyzed herein from the joint points of view of life‐cycle assessment (LCA) and net energy analysis (NEA). Results indicate that not only is the target effective at drastically reducing the grid mix's carbon emissions and halving its cumulative demand for imported nonrenewable primary energy, but—contrary to often voiced concerns—it is also compatible with sustaining the current level of net energy delivery (after accounting for the energy investments required to deploy and operate all generators). [ABSTRACT FROM AUTHOR]

This article investigates the impact of short sale constraints on stock returns in a powerful setting in which the uptick rule on the New York Stock Exchange (NYSE) was suspended for a given set of stocks (pilot stocks) by the Securities and Exchange Commission (SEC) in 2005. Comparing future stock returns for pilot stocks and control stocks, I show that the suspension of the uptick rule on average mitigates stock overvaluation by 3.5% of the stock value during a 1-year time period. This effect is profound in stocks with no options, small stocks, and value stocks. Findings in this article are consistent with Miller's (1977) overpricing hypothesis and suggest that removing the uptick rule help improve market efficiency by bringing stock prices closer to their fundamental values. [ABSTRACT FROM PUBLISHER]

We examine the market's reaction to New York Attorney General Eliot Spitzer's civil suit against mega-broker Marsh for bid rigging and inappropriate use of contingent commissions within a generalized autoregressive conditionally heteroskedastic (GARCH) framework. Effects on the stock returns of insurance brokers and insurers are tested. The findings are: (1) GARCH effects are significant in modeling broker/insurer returns; (2) the suit generated negative effects on the brokerage industry and individual brokers, suggesting that contagion dominates competitive effects; (3) spillover effects from the brokerage sector to insurance business are significant and mostly negative, demonstrating industry integration; and (4) information-based contagion is supported, as opposed to the pure-panic contagion. [ABSTRACT FROM AUTHOR]

Using probability distribution techniques, this article explores whether any differences exist between the returns and volatility of yen/dollar spot markets in Tokyo, London and New York. After the intraday returns were fit into probability distributions, New York is found to have the highest return, followed by London, and then Tokyo. In estimating the peaks and widths of the distributions of volatility, Tokyo is found to have the lowest volatility in the log-normal distribution, while London and New York show similar volatility distributions, implying similar investor risk-return preference behaviour in the London and New York markets. The findings also imply that arbitrage opportunities between London and New York could be trivial. After estimating the panel distribution from Monday to Friday across the three markets, we found that the Monday effect disappears. Instead, Tuesday shows negative and significantly lower returns. The Friday (weekend) effect no longer exists. Instead, Thursday shows a positive and significantly higher return than the other weekdays. Finally, the three major currency markets did not become more volatile after Japan's deregulation in the foreign currency market in April 1998. On the contrary, they show less volatile behaviour than before deregulation. The probability distributions of volatility on different weekdays did not change significantly after deregulation. [ABSTRACT FROM AUTHOR]

The market reaction to financial analysts' stock recommendation revisions is examined in terms of magnitude and direction. It is found that market-adjusted stock returns are associated with the direction of stock recommendation revisions. For the stocks that receive downward stock recommendation revisions, the market-adjusted stock returns can also be explained by the magnitude of stock recommendation revisions, brokerage houses' publicity, firm size, firm age, New York Stock Exchange listing, and stock price momentum. The empirical evidence suggests that financial analysts' downward stock recommendation revisions provide superior information to investors than do upward stock recommendation revisions. [ABSTRACT FROM AUTHOR]

In this paper we have analysed asset returns of the New York Stock Exchange and the Helsinki Stock Exchange using various time-independent models such as normal, general stable, truncated Lévy, mixed diffusion-jump, compound normal, Student t distribution and power exponential distribution and the time-dependent GARCH(1, 1) model with Gaussian and Student t distributed innovations. In order to study changes of pattern at different event horizons, as well as changes of pattern over time for a given event horizon, we have analysed high-frequency or short-horizon intraday returns up from 20 s intervals to a full trading day, medium-frequency or medium-horizon daily returns and low-frequency or long-horizon returns with holding period up to 30 days. As for changes of pattern over time, we found that for medium-frequency returns there are relatively long periods of business-as-usual when the return-generating process is well-described by a normal distribution. We also found periods of ferment, when the volatility grows and complex time dependences tend to emerge, but the known time dependences cannot explain the variability of the distribution. Such changes of pattern are also observed for high-frequency or short-horizon returns, with the exception that the return-generating process never becomes normal. It also turned out that the time dependence of the distribution shape is far more prominent at high frequencies or short horizons than the time dependence of the variance. For long-horizon or low-frequency returns, the distribution is found to converge towards a normal distribution with the time dependences vanishing after a few days. [ABSTRACT FROM AUTHOR]

Examines the relationship between volume and return volatility using the transaction data in the New York Stock Exchange. Capture of information content of trades; Persistence of return volatility at the intraday level; Role of volatility processes on trade frequencies; Price discovery on heavily traded stocks such as the Dow Jones Stocks.

The enclave hypothesis holds that obligations stemming from a common ethnicity not only permit utilization of past investments in human capital, but help to create opportunities for mobility. This implies that both men and women benefit from a broader reward structure involving more than just wages. Yet few studies examine whether immigrants in co-ethnic-owned firms, particularly women, benefit from these other forms of compensation, such as advancement opportunities. Using data from a survey of Colombian and Dominican immigrants in New York City, this research examines whether Dominican and Colombian women working in Hispanic-owned firms in New York City are advantaged relative to women in other labor market sectors in earnings-returns to human capital, opportunities for skill acquisition, and fringe benefits. The results indicate that enclave employment provides women with low wages, minimal benefits, and few opportunities for advancement. [ABSTRACT FROM AUTHOR]

ABSTRACT This paper analyzes the earnings and returns from human capital investments of second-generation American Jews. Compared with non-Jews, Jewish men have 16 percent higher earnings (other things the same), a 20 percent higher rate of return from schooling, and a steeper experience-earnings profile. These patterns persist even after controlling for occupation, self-employment status, and geographic concentration in the New York area. There are no systematic differences among Jews by parents' country of birth. The findings suggest that American Jews are more productive in creating and using human capital, and that this has encouraged greater investments in human capital. [ABSTRACT FROM AUTHOR]

The article provides information on a study on returns of capital with regards to the ownership of clipper ships in New England and New York during the 1850s. Estimates of the monetary returns to owners of clippers can be developed through an analysis of the records of actual ships and owners and through a reconstruction of the experience of what might be termed a typical or composite firm. The study concludes that the owners of clipper ships earned returns which even in the later years compare favorably with those in other activities during the period.

Market researchers report here the findings of three studies that have been conducted on the variability of returns on investments in common stocks listed on the New York Stock Exchange. Another study deals with returns from investment in portfolios containing different numbers of common stocks on the New York Stock Exchange. For several reasons, studies of variability may be interesting. One of the most controversial and important subjects in the field of finance is risk. There is controversy about both methods of estimation and the nature of the relationship between risk and rates of return.