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Our objective is to determine the effect of ownership type (for-profit, not-for-profit, government) on firm conduct in hospital markets. Secondary objectives include estimating hospital demand systems useful for market definition and merger simulation. To this end, we estimate a structural model of demand and pricing in the short term hospital industry in California, and then use the estimates to simulate the effect of a merger. Demand is modeled at the level of individual consumers using discrete choice techniques and micro data on individuals. Price in the demand equation is endogenous, and we use recently developed instrumental variables techniques to correct for this. We allow the behavior of for-profit and not-for-profit firms to differ, modeling these differences structurally following the relevant theory literature. We find that California hospitals in 1995 faced a downward-sloping demand for their products, with an average price elasticity of demand of -5.67. Not-for-profit hospitals face less elastic demand and have lower marginal costs. Their prices are lower, but markups are higher than those of for-profits. We simulate the effects of the 1997 merger of two hospital chains. In unconcentrated markets such as Los Angeles and San Diego, the merger has virtually no effect on prices. However, in San Luis Obispo County, where the merger creates a near monopoly, prices rise by up to 58%, and the predicted price increase would not be substantially smaller were the chains to be not-for-profit.

Market Structure, Firm Strategy, and Market Performance --- Antitrust Issues and Policies

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Mobile phone coverage has expanded considerably throughout the developing world, particularly within sub-Saharan Africa. Existing evidence suggests that increased access to information technology has improved agricultural market efficiency for consumer markets and certain commodities, but there is less evidence of its impact on producer markets. Building on the work of Aker (2010), this paper estimates the impact of mobile phone coverage on producer price dispersion for three commodities in Niger. The results suggest that mobile phone coverage reduces spatial producer price dispersion by 6 percent for cowpea, a semi-perishable commodity. These effects are strongest for remote markets and during certain periods of the year. The introduction of mobile phone coverage has no effect on producer price dispersion for millet and sorghum, two staple grains that are less perishable and are commonly stored by farmers. There are no impacts of mobile phone coverage on traders' gross margins or producer price levels, but mobile phone coverage is associated with a reduction in the intra-annual price variation for cowpea. These results are potentially explained by the fact that farmers engage in greater storage for storable commodities such as millet and sorghum.

Access to Markets --- Debt Markets --- E-Business --- Emerging Markets --- Finance and Financial Sector Development --- Information --- Information Technology --- International Economics & Trade --- Macroeconomics and Economic Growth --- Market Performance --- Markets & Market Access --- Private Sector Development --- Search Costs

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This paper develops a model that highlights the importance of clusters for attracting foreign direct investment. It shows from a game theoretical perspective how the combination of setting up a cluster and implementing policy reforms will be a key engine for attracting FDI. Based on agglomeration externalities, the paper shows that the very emergence of clusters can make investment so profitable that investors can even afford to tolerate more policyinduced distortions than otherwise. With perfect information, it shows the existence of multiple equilibria, in which some countries attract FDI while other do not. An extension to the context of imperfect information refines the analysis to a unique equilibrium, in which some investors respond to reforms. The paper presents case studies to support the findings.

Electronic books. -- local. --- Investments, Foreign. --- Exports and Imports --- Taxation --- Fiscal Policies and Behavior of Economic Agents: General --- International Factor Movements and International Business: General --- International Investment --- Long-term Capital Movements --- Market Structure, Firm Strategy, and Market Performance: General --- Taxation, Subsidies, and Revenue: General --- Finance --- Public finance & taxation --- Foreign direct investment --- Tax incentives --- Balance of payments --- Investments, Foreign --- Mauritius

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The Philippine economy has been growing rapidly, at an annual growth rate of 5 percent over the past five years. Such decent growth in gross domestic product, however, did not translate into an increase in household income. Wage income declined in real terms. The poverty headcount increased slightly. The fruits of economic growth were not shared equally across the country. Challenges remain to create more jobs to keep pace with the rapidly growing active population. Using the Philippines Labor Force Survey data (2003-2007), this paper reviews the disparities in labor market performance and examines the contribution of regional and individual characteristics. The results show that real wages declined and disparities widened between the National Capital Region and other islands. The youth, less educated, and women face more challenges in finding employment with a decent salary, other things being equal. Disparities in labor market performance are largely associated with the difference in regional structure and human capital endowment. Individual characteristics account for roughly one-third of the difference in wages between the National Capital Region and other regions; regional structures and other unobservable factors account for two-thirds of the difference.

Employment rate --- Finding employment --- Health, Nutrition and Population --- High unemployment --- Household income --- Human capital --- Job creation --- Jobs --- Labor Force --- Labor force participation --- Labor Market --- Labor Market Indicators --- Labor Market Performance --- Labor market policies --- Labor Markets --- Labor Policies --- Previous job --- Real wage --- Real wages --- Social Protections and Labor --- Unemployed --- Unemployment --- Unemployment rate --- Wage rate --- Youth and Government

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The Philippine economy has been growing rapidly, at an annual growth rate of 5 percent over the past five years. Such decent growth in gross domestic product, however, did not translate into an increase in household income. Wage income declined in real terms. The poverty headcount increased slightly. The fruits of economic growth were not shared equally across the country. Challenges remain to create more jobs to keep pace with the rapidly growing active population. Using the Philippines Labor Force Survey data (2003-2007), this paper reviews the disparities in labor market performance and examines the contribution of regional and individual characteristics. The results show that real wages declined and disparities widened between the National Capital Region and other islands. The youth, less educated, and women face more challenges in finding employment with a decent salary, other things being equal. Disparities in labor market performance are largely associated with the difference in regional structure and human capital endowment. Individual characteristics account for roughly one-third of the difference in wages between the National Capital Region and other regions; regional structures and other unobservable factors account for two-thirds of the difference.

Employment rate --- Finding employment --- Health, Nutrition and Population --- High unemployment --- Household income --- Human capital --- Job creation --- Jobs --- Labor Force --- Labor force participation --- Labor Market --- Labor Market Indicators --- Labor Market Performance --- Labor market policies --- Labor Markets --- Labor Policies --- Previous job --- Real wage --- Real wages --- Social Protections and Labor --- Unemployed --- Unemployment --- Unemployment rate --- Wage rate --- Youth and Government