Long-term Budget Research Articles

ПРОБЛЕМАТИКА БЮДЖЕТНОГО ПЛАНУВАННЯ В УМОВАХ МАКРОЕКОНОМІЧНОЇ НЕСТАБІЛЬНОСТІ

The theoretical, methodological and practical principles of budget planning are considered in the work. The main economic and political factors that affect the quality of budget planning in a crisis economy are highlighted. The quality and efficiency of budget indicators planning during destructive events, internal and external threats are analyzed. The effectiveness of the state budget policy largely depends on effective budget planning. The principles of medium-term budget planning (Budget Declaration), which were introduced in our country and which aim to determine the general budget indicators for the next three years, should ensure the implementation of medium-term and long-term budget programs. However, the changing macroeconomic situation in the country and global economic challenges force the Budget Declaration to be revised annually. The main document of budget planning is the law on the State Budget of Ukraine for next year, and therefore the accuracy and completeness of its implementation depends on both medium-term budget planning and budget policy. The revenue part of the State Budget of Ukraine has a decisive influence on the formation expenditure’s part of the State Budget of Ukraine and a significant impact on the formation of local budgets. Therefore, the quality and accuracy of revenue planning is a necessary guarantee of socio-economic development of the state in the planned budget period. The execution of the revenue side of the state budget is also greatly influenced by foreign economic factors, which are not always predictable even for developed economies with a long history of budget risk forecasting, and for Ukraine sometimes become catastrophic, because our country does not have reserve funds as countries with developed economies. The purpose of the article is to consider and evaluate the theoretical and methodological and practical provisions of budget planning and develop on this basis practical recommendations for its improvement. In view of this, the paper revealed different approaches to the definition of «budget planning». The article considers the existing approaches to planning the revenue and expenditure side of the state budget. The authors identified factors that affect the quality of budget planning. The paper presents proposals for improving the efficiency of budget planning.

Long-term budget planning in the context of globalization and its socio-economic significance

Research background: The process of globalization increases the possibility of a more equitable distribution of income and national wealth, which contributes to the solution of social problems and ensures the development of the material base of human potential. In these conditions, the issues of budget planning of mandatory budget expenditures for the social sphere, in particular for education. With the use of simulation modeling, it is possible not only to implement budget planning more effectively, adjust current social expenditures, but also to increase the horizon of long-term budget planning, which is especially important in conditions of high financial dependence. Purpose of the article: to study the use of simulation modeling for long-term budget planning of mandatory budget expenditures in the social sphere at the subnational level. Methods: we have researched based on the application of the “Any Logic” modeling method for long-term budget planning and adjustment of current social expenditures. Findings & Value added: the study conducted by the authors allows us to conclude that the use of “any logic” for long-term financial planning in the context of globalization makes it possible for States to model social expenditures in the current and future periods. Based on official statistics, the forecast model of mandatory budget expenditures for the social sphere takes into account various factors (changes in demography, the number of recipients of social services, etc.) and provides a forecast of socio-economic development. Long-term budget planning based on simulation models allows you to adjust current social programs, which will improve the quality of life in the context of globalization.

PROBLEMS OF MAKING LONG-TERM BUDGET FORECASTS AT THE 
 MUNICIPAL LEVEL

The article presents the results of a review of long-term budget forecasts made by local self-government au-thorities of urban districts. Based on the analysis, the shortcomings and problems of the current practice of budget forecasting are defined. The factors that prevent the full use of the results of long-term forecasting in the budget process are defined

A Financial Plot to Reduce the Burden of Medical School Tuition Fees.

Tuition fees for medical school are continuously and riotously increasing. This upsurge is amassing debts on the backs of students. In the class of 2018, 75% finished medical school with an outstanding balance of $196,520, on average-a $5826 increase from 2017. Tuition fees differ in terms of the ownership of the medical school (public vs. private) and according to the medical student residence status (in-state or out-of-state). It is critical that students arrange a long-term budget that shows them where they stand: in surplus or in deficit. Students may classify expenditures into two groups: "fixed" and "variable," where they can manipulate the variable expenses to fit into their budget. To pay for their tuition, medical students have four possibilities: cash, scholarships and grants, service-obligation scholarships, and loans. Loans are the most common alternatives, and so there are Traditional Repayment Plans and Income-Driven Repayment Plans. This article serves to provide medical students with attainable alternatives for funding their education and for repaying their debts.

КОНКУРЕНТОСПРОМОЖНІСТЬ ПОДАТКОВОЇ СИСТЕМИ В КОНТЕКСТІ РОЗШИРЕННЯ ФІСКАЛЬНОГО ПРОСТОРУ УКРАЇНИ

Для багатьох країн світу конкурентоспроможність податкової системи є складною проблемою, оскільки не тільки зменшує податкове навантаження на доходи підприємств, забезпечуючи активізацію факторів економічного розвитку, але й призводить до виникнення ризиків скорочення податкових надходжень і втрати стійкості державних фінансів. Податкова конкуренція вимагає знаходження компромісу між забезпеченням інвестиційних процесів і розширенням фіскального простору для вирішення актуальних соціально-економічних завдань в умовах нових глобальних викликів.Здійснено порівняльний аналіз результативності податкових реформ країн ЄС та України, спрямованих на зменшення податкового навантаження на бізнес та підвищення рівня конкурентоспроможності податкових систем. Попри успішність реформ у країнах ЄС, в Україні виявлено їх низьку результативність щодо впливу на інвестиційні процеси і створення умов для зменшення тіньової економіки. Визначено, що податкові реформи в Україні проводилися без урахування специфічних ефектів зміни умов оподаткування доходів підприємств, зокрема, впливу зниження ставок податків на рівень податкових надходжень у середньо- та довгостроковій перспективі, активізацію інноваційно-інвестиційної діяльності, динаміку інвестицій за межі країни, процеси детінізації економіки; тощо. Доведено, що пріоритетним напрямом підвищення міжнародної податкової конкурентоспроможності України має бути не зниження податкових ставок і скорочення податкових обмежень витрат при формування податкової бази з податку на прибуток підприємств, а вдосконалення амортизаційної політики в частині забезпечення прискорення відшкодування вартості основних засобів і нематеріальних активів, стимулювання капітальних інвестицій в оновлення виробництва на інноваційній основі. Обґрунтовано, що розвиток податкової системи України (інших країн з малою, відкритою економікою, з високим рівнем корупції та тіньової економіки) має відбуватися в рамках цілісної концепції сталого розвитку, з урахуванням можливих наслідків бюджетних рішень як для поточних, так і для довгострокових бюджетів, що стосуватимуться майбутніх поколінь.

Population Aging and Public Finances: Evidence from El Salvador

Abstract This paper analyses the impact of population aging on the demand for social resources in El Salvador and discusses the implications in terms of public finances. The empirical contribution of the paper is twofold: first, an estimation of the fiscal dividend is presented to highlight the importance for El Salvador of adopting fiscal policies in the short and medium term in a context of demographic transition; second, a long-term budget projection is produced to assess how population aging will put pressure on government budgets. The paper shows that with the combination of reasonable fiscal policies aimed at increasing revenues and reducing expenditures, El Salvador could cut by almost a half the hypothetical debt burden resulting from not adopting fiscal measures to affront the demographic change. The results emphasize the importance for Latin American developing countries of exploring different fiscal policies to ensure the sustainability of public finances in the medium and long term.

Current practice patterns and training project of oral pathology specialists in Taiwan

Background/purposeThere were 70 oral pathology specialists (OPSs) in Taiwan till 2018. This study reported the current practice patterns and training project of OPSs in Taiwan. Materials and methodsThis study exploited the secondary data analysis and interview to survey the current practice patterns and training project of OPSs in Taiwan. ResultsOf the 70 OPSs, 8 practiced both anatomical oral pathology (oral histopathological diagnosis) and clinical oral pathology (oral medicine), 8 practiced both general pathology (majorly) and anatomical oral pathology (minorly), 5 practiced oral medicine only, 30 practiced general dentistry or other dental divisions, 11 did teaching or researching, and 8 had retired. There were 9 OPS training hospitals (8 medical centers and one regional hospital) that had 23 OPSs and a training capacity of 11 dentists. Of the 9 OPS training hospitals in Taiwan in 2019, 5 were located in the northern, one in central, two in southern, and one in eastern region. Moreover, we found none of the dentists applying for the OPS training program and the number of OPSs did not increase along with the population and the number of the dentists in recent two years. ConclusionOnly 8 OPSs practice both anatomical oral pathology and oral medicine in Taiwan and the manpower of the OPSs in Taiwan faces a severe problem of shortage. We suggest that the government should build a long-term budget to subsidize young OPSs and those dentists who enter the OPS training program to resolve this OPS shortage problem.

Plant responses to decadal scale increments in atmospheric CO2 concentration: comparing two stomatal conductance sampling methods

Main conclusionOur study demonstrated that the species respond non-linearly to increases in CO2 concentration when exposed to decadal changes in CO2, representing the year 1987, 2025, 2051, and 2070, respectively.There are several lines of evidence suggesting that the vast majority of C3 plants respond to elevated atmospheric CO2 by decreasing their stomatal conductance (gs). However, in the majority of CO2 enrichment studies, the response to elevated CO2 are tested between plants grown under ambient (380–420 ppm) and high (538–680 ppm) CO2 concentrations and measured usually at single time points in a diurnal cycle. We investigated gs responses to simulated decadal increments in CO2 predicted over the next 4 decades and tested how measurements of gs may differ when two alternative sampling methods are employed (infrared gas analyzer [IRGA] vs. leaf porometer). We exposed Populus tremula, Popolus tremuloides and Sambucus racemosa to four different CO2 concentrations over 126 days in experimental growth chambers at 350, 420, 490 and 560 ppm CO2; representing the years 1987, 2025, 2051, and 2070, respectively (RCP4.5 scenario). Our study demonstrated that the species respond non-linearly to increases in CO2 concentration when exposed to decadal changes in CO2. Under natural conditions, maximum operational gs is often reached in the late morning to early afternoon, with a mid-day depression around noon. However, we showed that the daily maximum gs can, in some species, shift later into the day when plants are exposed to only small increases (70 ppm) in CO2. A non-linear decreases in gs and a shifting diurnal stomatal behavior under elevated CO2, could affect the long-term daily water and carbon budget of many plants in the future, and therefore alter soil–plant–atmospheric processes.

ОСОБЛИВОСТІ СЕРЕДНЬОСТРОКОВОГО БЮДЖЕТНОГО ПЛАНУВАННЯ В УКРАЇНІ В УМОВАХ ПАНДЕМІЇ COVID-19

The article is devoted to revealing the peculiarities of medium-term budget planning in Ukraine in the conditions of the coronavirus pandemic and the development of proposals for its improvement. Based on the study of the dynamics of forecast budget indicators on the three-year time horizon, it was proved that medium-term budget planning should be considered as a kind of precaution to avoid unreasonable future government spending, which can adversely affect the pace of economic development and the level of well-being of the population of the country. At the same time, the indicators of revenues and expenditures of the budget for the next years are only a forecast that is periodically clarified in the Budget Declaration by the government in accordance with the trends in the economy and taking into account the emerging various factors of influence. With the spread of COVID-19, adjustments were made to the process of formation and implementation of Ukraine’s budget policy. It is proved that the absence of a legislatively approved strategic plan for the development of the country, including in the sphere of public finances, is one of the reasons for moderate progress in achieving the defined goals. At the present stage of Ukraine’s development, there are long-term financial challenges in the budget sphere that cannot be solved within one budget year, which forces the government to move to medium-term budgetary domination for effective management of budget resources. As a result of the study, the internal and external challenges faced by Ukraine in connection with the need to overcome the consequences of the spread of COVID-19 were identified, the need to focus on ensuring strict compliance with the already established deadlines, criteria and procedures in the formation of the state budget and defining urgent goals of medium-term budget planning. The prospect of further research in this direction is to prove the need to introduce long-term budget planning in Ukraine or to extend the time horizon of medium-term budget planning to a five-year period, which should be based on the relevant legal provision of the Basic Law of the State or the Budget Code of Ukraine.

A Carbon-Aware Incentive Mechanism for Greening Colocation Data Centers

The massive energy consumption of data centers worldwide has resulted in a large carbon footprint, raising serious concerns to sustainable IT initiatives and attracting a great amount of research attention. Nonetheless, the current efforts to date, despite encouraging, have been primarily centered around owner-operated data centers (e.g., Google data center), leaving out another major segment of data center industry-colocation data centers-much less explored. As a major hindrance to carbon efficiency desired by the operator, colocation suffers from “split incentive”: tenants may not be willing to manage their servers for carbon efficiency. In this paper, we aim at minimizing the carbon footprint of geo-distributed colocation data centers, while ensuring that the operator's cost meets a long-term budget constraint. We overcome the “split incentive” hurdle by devising a novel online carbon-aware incentive mechanism, called GreenColo, in which tenants voluntarily bid for energy reduction at self-determined prices and will receive financial rewards if their bids are accepted at runtime. Using trace based simulation we show that GreenColo results in a carbon footprint fairly close (23 versus 18 percent) to the optimal offline solution with future information, while being able to satisfy the colocation operator's long-term budget constraint. We demonstrate the effectiveness of GreenColo in practical scenarios via both simulation studies and scaled-down prototype experiments. Our results show that GreenColo can reduce the carbon footprint by up to 24 percent without incurring any additional cost for the colocation operator (compared to the no-incentive baseline case), while tenants receive financial rewards for “free” without violating service level agreement.

Multiannual expenditures in state budget and local government budgets in Poland

Purpose – The purpose of the article is to assess the significance of multiannual expenditures in the state and budgets of local government units in Poland. Research method – In order to achieve the objective, the methods of comparative analysis of budget expenditures extending beyond one financial year of the state and local government units were used. The research period covers the years 2014-2018. The source of data utilised for the analyses are reports relating to the performance of the state budget and information on the performance of the budgets of local government units, as well as databases on multiannual financial forecasts of local government units. The analysis used data on expenditure related to the implementation of multiannual programmes (in the state budget) and expenditure on undertakings shown in multiannual financial forecasts (in the budgets of local government units). The analysis also included the non-expiring expenditures. Therefore, it was possible to indicate the share of expenditures extending beyond one financial year in the budgets executed annually. Results – The research results indicate that despite the existence of solutions for long-term budget planning at the level of the state and local government units in Poland, the scale of implementation of multiannual expenditures in annual budgets remains relatively small. In addition, differences in the implementation of multiannual expenditures between specific categories of local government units were pointed out.

Program targeted management of budgetary resources in the mechanism of public development

Relevance of the research topic. The development of public relations requires an increase in the effectiveness of budgetary resource management in solving the priority tasks of the country's socio-economic development and obtaining the maximum socially beneficial effect from the use of budgetary funds. Issues of strategic program targeted management of budgetary resources in the mechanism of social development, evaluation of the effectiveness of budgetary expenditures, the introduction of medium-term budget planning are becoming of current importance. Formulation of the problem. The issue of ensuring rational formation, optimal distribution and efficient and effective use of budgetary resources to meet the needs of society require a deepening study of the theoretical and methodological foundations of the program targeted management of budget expenditures in the system of state strategic planning, evaluation of the effectiveness and socio-economic efficiency of budget expenditures and budget activities, medium-term budget planning taking into account the criteria for priority and budget effectiveness. Analysis of recent research and publications. The issues of program targeted management of budgetary resources are devoted to the works of foreign and domestic scientists C. Weiss, E. Vedung, A. Premchand, V. Tanzi, L. Vasyutinskaya, I. Zapatrina, N. Kornienko, L. Lysyak, Y. Ostryshchenko, V. Fedosov, I. Chugunov and others. Selection of unexplored parts of the general problem. The study of program targeted management of budgetary resources in the mechanism of social development is actualized due to the need to effectively address the strategic priorities of the country's development in various spheres of public relations, the use of budget expenditures as an effective tool for regulating economic and socio-demographic processes in the country. Setting the task, the purpose of the study. The task of the study is to reveal the features of the effective functioning of the program targeted management of budgetary expenditures in the system of state strategic planning and forecasting to rationalize the distribution and use of budgetary resources in order to achieve priorities of the budget and socio-economic policy of the state. The purpose of the study is to reveal and improve the theoretical and methodological basics of the program targeted method of managing budgetary resources in the mechanism of public development. Method or methodology for conducting research. The article uses a set of scientific methods and approaches, including dialectical, systemic and structural methods, comparative and factor analysis, methods of scientific abstraction, analysis and synthesis. Presentation of the main material (results of work). The essence of the program targeted method of managing budget resources and the peculiarities of its functioning in the mechanism of public development are revealed; improved provisions for long-term forecasting and medium-term program targeted planning of budget expenditures in the system of state strategic planning and forecasting; developed approaches to assessing the effectiveness and socio-economic efficiency of budget expenditures and budget activities. The field of application of results. The results of the study can be used in the process of formation and implementation of state policy in the field of budget expenditures. Conclusions according to the article. Strategic program targeted management of budgetary resources provides for long-term forecasting of budget expenditures within the framework of the country's socio-economic development strategy, budget strategy, sectoral strategic plans, as well as medium-term program targeted planning of budget expenditures within the framework of a long-term budget expenditures forecast, taking into account the criteria for prioritizing public development and budget effectiveness. A systematic assessment of the effectiveness and socio-economic efficiency of budget expenditures allows you to create an integrated closed-loop budget expenditure management system aimed at ensuring dynamic optimization of the allocation and use of budgetary resources based on the criteria of the expected and achieved level of budgetary expenditures effectiveness in order to minimize budget losses and maximize budget results for all stages of the budget process.

The Inflation Level Forecasting in Forming Regional and Municipal Budgets

The subject of the research is inflation level forecasting in forming, executing and analyzing the execution course of regional and municipal budgets. The purpose of the work is developing methods of inflation level evaluation to supply state and local authorities with necessary and sufficient operational data reflecting the specificity of respective regional economies concerning prognostic figures of monthly and yearly rates of inflation. The urgency of the research lies in the fact that the proposed approach to inflation level evaluation is relatively simple but at the same time effective and is based on the principles of integrity, responsiveness, economy, and effectiveness. The methodical base of the work is formal and dialectical logics used to reveal interconnections between inflation processes in the economy and of the procedures for long-term budget forecasting; as well as methods of deduction and induction employed to justify the approaches proposed; mathematics of logic was used to analyze the influence of the approaches on the regional and municipal budget indicators under present-day conditions. The authors suggest an analytical matrix containing the initial materials for inflation rate forecasting and make a try to develop a model of inflation rate forecasting that is based on the data of factual and prognostic consumer price index. It is concluded that the model of inflation rate forecasting is applicable for budget planning and analysis in specific regions and municipalities, budgetary institutions, as well as in the course of developing and realization of some regional and municipal budget funded projects, which appears to be important to increase analytical capacity of information relevant for external and internal users.

Ten-year Medicare budget impact of increased coverage for anti-obesity intervention

Aims: To estimate the long-term budget impact of expanding Medicare coverage of anti-obesity interventions among adults aged 65 and older in the US.Materials and methods: This study analyzed a representative sample of Medicare beneficiaries from the combined 2008–2016 National Health and Nutrition Examination Surveys. Population characteristics, cost and effectiveness of anti-obesity interventions, and the sustainability of weight loss in real-life were modeled to project the budgetary impact on gross Medicare outlay over 10 years. Hypothetical scenarios of 50% and 67% increases in intervention participation above base case were used to model moderate and extensive Medicare coverage expansion of intensive behavior therapy and pharmacotherapy.Results: For each Medicare beneficiary receiving anti-obesity treatment, we estimate Medicare savings of $6,842 and $7,155 over 10 years under moderate and extensive coverage utilization assumptions, respectively. The average cost of intervention is $1,798 and $1,886 per treated participant. Taking the entire Medicare population (treated and untreated) into consideration, the estimated 10-year budget savings per beneficiary are $308 and $339 under moderate and extensive assumptions, respectively. Sensitivity analysis of drug adherence rate and weight-loss efficacy indicated a potential variation of budget savings within 7% and 22% of the base case, respectively. Most of the projected cost savings come from lower utilization of ambulatory services and prescription drugs.Limitations: Due to the scarcity of studies on the efficacy of pharmacotherapy among older adults with obesity, the simulated weight loss and long-term maintenance effects were derived from clinical trial outcomes, in which older adults were mostly excluded from participation. The model did not include potential side-effects from anti-obesity medications and associated costs.Conclusions: This analysis suggests that expanding coverage of anti-obesity interventions to eligible individuals could generate $20–$23 billion budgetary savings to Medicare over 10 years.

The Contribution of Wind-Generated Waves to Coastal Sea-Level Changes

Surface gravity waves generated by winds are ubiquitous on our oceans and play a primordial role in the dynamics of the ocean–land–atmosphere interfaces. In particular, wind-generated waves cause fluctuations of the sea level at the coast over timescales from a few seconds (individual wave runup) to a few hours (wave-induced setup). These wave-induced processes are of major importance for coastal management as they add up to tides and atmospheric surges during storm events and enhance coastal flooding and erosion. Changes in the atmospheric circulation associated with natural climate cycles or caused by increasing greenhouse gas emissions affect the wave conditions worldwide, which may drive significant changes in the wave-induced coastal hydrodynamics. Since sea-level rise represents a major challenge for sustainable coastal management, particularly in low-lying coastal areas and/or along densely urbanized coastlines, understanding the contribution of wind-generated waves to the long-term budget of coastal sea-level changes is therefore of major importance. In this review, we describe the physical processes by which sea states may affect coastal sea level at several timescales, we present the methods currently used to estimate the wave contribution to coastal sea-level changes, we describe past and future wave climate variability, we discuss the contribution of wave to coastal sea-level changes, and we discuss the limitations and perspectives of this research field.

Macroeconomic stability as the condition for Bulgaria to join the euro area

Research background: The subject of research is the macroeconomic situation of Bulgaria in the context of the country's preparations for joining the euro area. In 2018, the Bulgarian government approved a plan of preparations covering the period until the end of June 2019, which assumes that the country will join the ERM II mechanism in July 2019, and the euro area on 1 January 2022. Bulgaria meets four nominal convergence criteria regarding inflation, long-term interest rate, budget deficit and public debt. The national currency is pegged to the euro under the currency board arrangement. Despite this, the implementation of this optimistic scenario may be difficult because since the 2007 crisis, the European institutions pay more attention to macroeconomic stability and the sustainability of convergence.
 Purpose of the article: The aim of the article is to identify the factors destabilising macroeconomic equilibrium in Bulgaria, which are a potential obstacle to the adoption of the euro by Bulgaria on schedule.
 Methods: The research was based on the changes in selected macroeconomic indicators, as well as on the method used by the European Commission to detect macroeconomic imbalances. The observation and analysis covered the 2007?2018 period. 
 Findings & Value added: The research results indicate that the low level of socio-economic convergence of Bulgaria and macroeconomic imbalances may delay its membership in the monetary union. Therefore, while respecting the country's aspirations to join the euro area, one cannot ignore the risk of another destabilisation of the euro area.

Strategies of Islamic Education Institutions in Fundraising Waqf to Create Economic Independence in the Era of the 4.0 Industrial Revolution

In facing the current 4.0 industrial revolution, the role of digitalization-based waqf is very much needed in solving the problems of the social economy. One of the waqf-based educational institutions that implements waqf fundraising strategies with the nature of independence in creating an economy in the digitalization era is Pesantren in Indonesia. therefore the purpose of this research is to discuss the strategy of Islamic Education Institutions (IEI) in fundraising waqf in creating economic independence in the era of the 4.0 industrial revolution. The scope to be discussed covers aspects of management, distribution, and fundraising for endowments with the final goal referring to the willingness of the poor. The research method used is library research using conceptual approach. The results of this study indicate that the existence of a good waqf fundraising strategy undertaken by nadzir can indirectly improve the welfare of the people and can create economic independence. The strategies in waqf fundraising implemented by IEI are making long-term strategic program plans; designing a long-term budget; developing fundraising scenario (goals and strategies); identify the source of funds ( waqif ) through the direct and indirect method; and monitoring work results (monitoring and reporting) by reporting work results along with evaluations and future plans.

PIN77 BUDGET IMPACT ANALYSIS OF NOVEL DIRECT-ACTING ANTIVIRALS FOR TREATMENT OF CHRONIC HEPATITIS C VIRUS INFECTION IN TAIWAN

Taiwan Ministry of Health and Welfare decided to extend coverage for oral hepatitis C drugs to all the patients. It is expected to eradicate the disease by 2025. The objective of this study was to assess the budget impact of introducing direct-acting antivirals (DAAs) coverage for all HCV patients from the perspective of the Taiwan health care payer. A budget impact model was developed with a five-year time horizon (2019-2023) to estimate the long-term budget impact on the National Health Insurance after introducing DAA-based treatments (Glecaprevir/pibrentasvir ) for all genotypes of patients with chronic HCV infection in Taiwan. We compared the new scenario with the historical situation based on the traditional therapy available prior to 2018. The eligible patient population was derived from the local published epidemiology data. Drug unit costs were obtained from the National Health Insurance Administration. The exchange rate of all costs was converted by 30 New Taiwan dollars per US dollar. The introduced new coverage policy The annual drug cost of DAA-based therapy was 26.6 million US dollar and pegylated interferon /ribavirin was 9.9 million US dollar, respectively. Due to the high cure rate of the innovative new drug, this decreases the eligible patients for the treatment year by year. In 2019-2023, the health insurance fund for the hepatitis C treatment would be decreased by 15.45, 15.56, 15.63, 15.68, 15.72 million US dollar, respectively. Compared with pegylated interferon /ribavirin, the novel direct-acting antivirals (DAAs) is a relatively cheaper alternative with comparable clinical efficacy for HCV patients in Taiwan.

Distributed Capacity Allocation of Shared Energy Storage Using Online Convex Optimization

This paper studies capacity allocation of an energy storage (ES) device which is shared by multiple homes in smart grid. Given a time-of-use (TOU) tariff, homes use the ES to shift loads from peak periods to off-peak periods, reducing electricity bills. In the proposed ES sharing model, the ES capacity has to be allocated to homes before the homes’ load data is completely known. To this end, an online ES capacity allocation algorithm is developed based on the online convex optimization framework. Under the online algorithm, the complex allocation problem can be solved round by round: at each round, the algorithm observes current system states and predicts a decision for the next round. The proposed algorithm is able to minimize homes’ costs by learning from home load data in a serial fashion. It is proven that the online algorithm can ensure zero average regret and long-term budget balance of homes. Further, a distributed implementation of the online algorithm is proposed based on alternating direction method of multipliers framework. In the distributed implementation, the one-round system problem is decomposed into multiple subproblems that can be solved by homes locally, so that an individual home does not need to send its private load data to any other. In simulation, actual home load data and a TOU tariff of the United States are used. Results show that the proposed online approach leads to the lowest home costs, compared to other benchmark approaches.

Hybrid Energy Harvesters: Toward Sustainable Energy Harvesting.

Recently, sustainable green energy harvesting systems have been receiving great attention for their potential use in self-powered smart wireless sensor network (WSN) systems. In particular, though the developed WSN systems are able to advance public good, very high and long-term budgets will be required in order to use them to supply electrical energy through temporary batteries or connecting power cables. This report summarizes recent significant progress in the development of hybrid nanogenerators for a sustainable energy harvesting system that use natural and artificial energies such as solar, wind, wave, heat, machine vibration, and automobile noise. It starts with a brief introduction of energy harvesting systems, and then summarizes the different hybrid energy harvesting systems: integration of mechanical and photovoltaic energy harvesters, integration of mechanical and thermal energy harvesters, integration of thermal and photovoltaic energy harvesters, and others. In terms of the reported hybrid nanogenerators, a systematic summary of their structures, working mechanisms, and output performances is provided. Specifically, electromagnetic induction, triboelectric, piezoelectric, photovoltaic, thermoelectric, and pyroelectric effects are reviewed on the basis of the individual and hybrid power performances of hybrid nanogenerators and their practical applications with various device designs. Finally, the perspectives on and challenges in developing high performance and sustainable hybrid nanogenerator systems are presented.