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32. Fannie Mae, Freddie Mac, and the Future of Federal Housing Finance Policy: A Study of Regulatory Privilege
- Author:
- David Reiss
- Publication Date:
- 04-2011
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- The federal government recently placed Fannie Mae and Freddie Mac, the government-chartered, privately owned mortgage finance companies, in conservatorship. These two massive companies are profit driven, but as government-sponsored enterprises (GSEs) they also have a government-mandated mission to provide liquidity and stability to the U.S. mortgage market and to achieve certain affordable housing goals. How the two companies should exit their conservatorship has implications that reach throughout the global financial markets and are of key importance to the future of American housing finance policy.
- Topic:
- Economics, Markets, Privatization, Financial Crisis, and Governance
- Political Geography:
- United States
33. Competitive Regulation: Stepping Outside the Public/Private Policy Debate
- Author:
- Jean-Paul Gagnon
- Publication Date:
- 07-2011
- Content Type:
- Working Paper
- Institution:
- Centre for Strategic Research and Analysis (CESRAN)
- Abstract:
- The central aim of this work is to try and detail the argument that governmental regulation can move beyond the public versus private policy debate. This argument depends largely on Kant?s and J.S. Mill?s works regarding the harm principle (see Ripstein, 2006; and Mertens, 2007, for further reading). In con-temporary political philosophy, we see the focus turning to equality and jus-tice within the framework of international peace and individual sovereignty (see Krasner, 1988; Guardiola-Rivera, 2010; Campbell, 2010; and Smith, 2008 for more). This discourse is central to my argument because I feel the literature supports my point that accountability, transparency and the right to question the public and private spheres wheresoever they may cause harm to be a right for any individual. It might be that, for many, this is simply part of democratic governance (see Hanberger, 2009; Meijer, 2009; Steffek, 2010; Tallberg, Uhlin and Bexell, 2010). This, in cumulative terms, manifests as the right for the pluralities composing citizenries to collectively challenge public and private industries and institutions if their activities cause harm or are suspect. This in turn may lead to the expectation that our representatives or leaders in civil society should champion this democratic right. If we do not have this right, the public and private spheres may operate in the dark: away from accountability, away from transparency, and away from popular knowledge and scrutiny.
- Topic:
- Government, Politics, Privatization, Governance, and Public Opinion
- Political Geography:
- Turkey
34. The Massachusetts Health Plan: Much Pain, Little Gain
- Author:
- Michael F. Cannon and Aaron Yelowitz
- Publication Date:
- 01-2010
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- In 2006, Massachusetts enacted a sweeping health insurance law that mirrors the legislation currently before Congress. After signing the measure, Gov. Mitt Romney (R) wrote, "Every uninsured citizen in Massachusetts will soon have affordable health insurance and the costs of health care will be reduced." But did the legislation achieve these goals? And what other effects has it had? This paper is the first to use Current Population Survey data for 2008 to evaluate the Massachusetts law, and the first to examine its effects on the accuracy of the CPS's uninsured estimates, self-reported health, the extent of "crowd-out" of private insurance for both children and adults, and in-migration of new Massachusetts residents.
- Topic:
- Government, Health, and Privatization
- Political Geography:
- United States
35. Obama's Prescription for Low-Wage Workers: High Implicit Taxes, Higher Premiums
- Author:
- Michael F. Cannon
- Publication Date:
- 01-2010
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- House and Senate Democrats have produced health care legislation whose mandates, subsidies, tax penalties, and health insurance regulations would penalize work and reward Americans who refuse to purchase health insurance. As a result, the legislation could trap many Americans in low-wage jobs and cause even higher health-insurance premiums, government spending, and taxes than are envisioned in the legislation.
- Topic:
- Government, Health, and Privatization
- Political Geography:
- United States and America
36. Private Contractors in Conflict Zones: The Good, the Bad, and the Strategic Impact
- Author:
- T.X. Hammes
- Publication Date:
- 10-2010
- Content Type:
- Working Paper
- Abstract:
- In Iraq and Afghanistan, the use of contractors reached a level unprecedented in U.S. military operations. As of March 31, 2010, the United States deployed 175,000 troops and 207,000 contractors in the war zones. Contractors represented 50 percent of the Department of Defense (DOD) workforce in Iraq and 59 percent in Afghanistan. These numbers include both armed and unarmed contractors. Thus, for the purposes of this paper, the term contractor includes both armed and unarmed personnel unless otherwise specified. The presence of contractors on the battlefield is obviously not a new phenomenon but has dramatically increased from the ratio of 1 contractor to 55 military personnel in Vietnam to 1:1 in the Iraq and 1.43:1 in Afghanistan.
- Topic:
- Security, Defense Policy, Privatization, War, and Counterinsurgency
- Political Geography:
- Afghanistan, United States, and Iraq
37. The Big U-Turn: Japan Threatens to Reverse Postal Reforms
- Author:
- Gary Clyde Hufbauer and Julia Muir
- Publication Date:
- 06-2010
- Content Type:
- Policy Brief
- Institution:
- Peterson Institute for International Economics
- Abstract:
- On May 31, 2010 a majority of the Lower House of the National Diet of Japan approved legislation that would reverse a decade's worth of effort to fully privatize key subsidiaries of Japan Post Holdings Co. Ltd. Besides postal services, the state-run postal system offers banking and insurance services, through Japan Post Bank (JPB) and Japan Post Insurance (JPI), respectively. These are the financial engines of Japan Post and were the units slated for privatization. Both subsidiaries have long received favorable government treatment, tilting the playing field against private banks and insurance firms, whether foreign or domestic. The government of Japan is in clear violation of its commitments under the World Trade Organization (WTO), and if the Upper House approves the legislation, Japan will reverse the efforts made by the United States and the European Union, as well as domestic private banks and insurance firms, to establish a level playing field. What's more, Japan risks having a formal WTO dispute brought against it.
- Topic:
- Economics, Government, and Privatization
- Political Geography:
- United States, Japan, and Europe
38. Comparing Public and Private Hospitals in China: Evidence from Guangdong
- Author:
- Karen Eggleston, Mingshan Lu, Congdong Li, Jian Wang, Zhe Yang, and Jing Zhang
- Publication Date:
- 04-2009
- Content Type:
- Working Paper
- Institution:
- Walter H. Shorenstein Asia-Pacific Research Center
- Abstract:
- Government and private roles in this segment of health service delivery remain controversial in China, as in many countries. Using 2004 data from over 360 government-owned and private hospitals in Guangdong Province, we find that non-government hospitals serve an overlapping but distinct market. They are smaller, newer market entrants, more likely to specialize, and less likely to be included in urban social insurance networks. We also document differences in staffing and financial performance, but no systematic ownership differences in simple measures of quality, controlling for size, location, case-mix and other confounding factors.
- Topic:
- Demographics, Government, Health, and Privatization
- Political Geography:
- China, Israel, and Guangdong
39. A Better Way to Generate and Use Comparative-Effectiveness Research
- Author:
- Michael F. Cannon
- Publication Date:
- 02-2009
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- President Barack Obama, former U.S. Senate majority leader Tom Daschle, and others propose a new government agency that would evaluate the relative effectiveness of medical treatments. The need for “comparative-effectiveness research” is great. Evidence suggests Americans spend $700 billion annually on medical care that provides no value. Yet patients, providers, and purchasers typically lack the necessary information to distinguish between high- and low-value services.
- Topic:
- Economics, Government, Health, and Privatization
- Political Geography:
- United States
40. Health-Status Insurance: How Markets Can Provide Health Security
- Author:
- John H. Cochrane
- Publication Date:
- 02-2009
- Content Type:
- Working Paper
- Institution:
- The Cato Institute
- Abstract:
- None of us has health insurance, really. If you develop a long-term condition such as heart disease or cancer, and if you then lose your job or are divorced, you can lose your health insurance. You now have a preexisting condition, and insurance will be enormously expensive—if it's available at all. Free markets can solve this problem, and provide life-long, portable health security, while enhancing consumer choice and competition. “Heath-status insurance” is the key. If you are diagnosed with a long-term, expensive condition, a health-status insurance policy will give you the resources to pay higher medical insurance premiums. Health-status insurance covers the risk of premium reclassification, just as medical insurance covers the risk of medical expenses. With health-status insurance, you can always obtain medical insurance, no matter how sick you get, with no change in out-of-pocket costs.
- Topic:
- Economics, Health, Markets, and Privatization
- Political Geography:
- United States