RESUMO
The aim of this paper is to examine the determinants of interest rates on tax-exempt hospital bonds. The results highlight the potential and actual roles of Federal and state policy in the determination of these rates. The shift to a Prospective Payment System under Medicare has subsidized the borrowing costs of some hospitals at the expense of others. The selection of underwriters by negotiation rather than by competitive bidding results in higher interest rates. The Federal tax act of 1986 raised the cost of hospital debt by encouraging bond issues to contain call features.
Assuntos
Financiamento de Capital/economia , Administração Financeira de Hospitais/estatística & dados numéricos , Investimentos em Saúde/economia , Sistema de Pagamento Prospectivo/economia , Financiamento de Capital/estatística & dados numéricos , Coleta de Dados , Investimentos em Saúde/estatística & dados numéricos , Medicare/economia , Métodos de Controle de Pagamentos/métodos , Métodos de Controle de Pagamentos/estatística & dados numéricos , Análise de Regressão , Impostos , Estados UnidosRESUMO
This paper examines the existence of regressivity at the Kansas State Lottery using county level data. The classic "t-test" is used to test if the mean per capita bet in classes, defined as being below or above the median state income, are the same. The results show that the means of the per capita bets are not statistically different. Another test directly tests regressivity using the mean of bets expressed as a percentage of income. The results show that lower income counties bet more as a percentage of income. The second test also defines classes as being below or above the median educational level, labor force participation rate, employment rate, unemployment rate, population density, percentage white and the population size. The results show that Kansas runs a regressive lottery.