Supply Distortion Research Articles

Financing universal health care: Premiums or payroll taxes?

This paper presents a stochastic overlapping generations model with endogenous health investment to study the transition from the existing hybrid health insurance system in Germany towards a uniform system, financed by either funded or unfunded premiums or payroll taxes.Our simulation results highlight the insurance properties of payroll taxes, but also their cost in terms of labor supply distortions and moral hazard. We find that compulsory deductibles decrease aggregate welfare in Germany, although they reduce moral hazard and increase private health investment. Reform models with premiums also induce precautionary behavior and increase labor supply, but at the same time increase exposure to productivity risk. Since the introduction of a funded system is costly for transitional cohorts, unfunded premiums provide the highest efficiency gains in our framework.

Behavioural Economics: Appropriate Framework for Studying the Life Insurance Market

This article rests on establishing a unique standpoint that life insurance products (unlike other financial assets) are purchased for protection, not as an investment for return. This aims at identifying the most suitable theoretical framework to study the life insurance market and to suggest appropriate tools of analysis. Economic and financial theories starting from neo-classical economics, going up to behavioural economics (BE) have been studied vis-à-vis life insurance markets. A distinction has been drawn between BE and behavioural finance (BF). Accordingly, neo-classical economics, standard theory of finance and BF have been found to be inappropriate to understand life insurance as a market. The main theoretical edifice of BE, with a blend of transaction-cost approach and information theoretic approach, is argued to be the right theoretical framework to study the life insurance market, given the idiosyncrasies involved. A novel attempt has been made to create a ‘construct’ to depict how the BE framework is most relevant. It is hypothesised that bounded rationality is adversely influenced by emotions, search costs, intermediaries and socio-psychological influences, to embed behavioural biases and heuristics into life insurance purchase decisions. Combinedly, this leads to demand and supply distortions that create an incomplete market. To test this framework, it has been suggested that Heuristic z-test; Murthy’s Index of Rank Dominance (MIrd & MRird); and logistic regression, be harnessed. These tools would help in measuring market inefficiency and underperformance. Policymakers, the regulator, insurers and buyers alike would benefit from a better understanding of the market.

HARMONIC CANCELLATION IN POWER SYSTEM USING MULTIPULSE AC-DC CONVERTERS

Power quality issues have become a prominent concern within modern electrical systems due to the escalating reliance on sensitive electronic equipment and the integration of renewable energy sources. Sources contributing to these disturbances, encompassing power grid irregularities, switching activities, and nonlinear loads, are thoroughly explored. Using various ideas and techniques, a lot of effort has been done in recent years to reduce total harmonic distortion. Filtering or cancellation are two techniques for harmonic treatment. In this section, we discuss employing a multi-pulse AC to DC conversion strategy to reduce total harmonic distortion. Power quality can be enhanced using multiple pulse converters, and in this research, 6, 12, 18, 24 pulse converters have been simulated and modeled using the MATLAB/Simulink programme. Each one of these converters produces 6-pulse AC to DC conversion, so consistent phase-shift is needed to build many sets of 6-pulse system. As a result, 12-, 18-, 24-, and 30-pulse systems have been created with the necessary phase-shifting angle. Total harmonic distortion (THD) in current supply and ripples present in DC type voltage are reduced, improving the performance of multi-pulse converters[5]. Keywords: Multi-Pulse converters , Total Harmonic Distortion (THD), Harmonics, Ripple Content , Power Quality.

공공택지 조성 및 공급에 관한 법체계 개선방안

The supply of housing and housing sites in Korea has been mainly centered on public development. However, such public development-oriented supply does not properly respond to changes in the social structure, such as changes in population and household structure and diversification of housing demand. In the case of the first and second new cities, which are representative public developments, development was carried out according to different supply purposes based on the ｣Housing Site Development Promotion Act｢. In the case of the recent third new city, the ground law was changed to the Special Act on Public Housing, not the ｢Housing Site Development Promotion Act｣, and factors to meet social demand were reflected. However, based on various special laws in supplying large-scale public housing sites centered on new cities, problems often arise due to inconsistencies with existing national space plans or urban plans or lack of connection with higher plans. In addition, as a result of the creation and supply of large-scale public housing sites, the real estate economic recession due to short-term oversupply, unsold problems, regional conflicts, and distortion of housing supply and demand. Problems with reckless development or bed towns arise as the housing site supply plan does not reflect the characteristics of the region and focuses on specific policy purposes such as the dispersion of the population in the metropolitan area. Furthermore, problems include inconsistency between plans and laws in the public housing supply legal system, inefficiency and rigidity in business procedures and housing site supply methods, and lack of urban function and project disconnection due to bias centered on the supply of large-scale housing sites. Accordingly, through the analysis of the legal system for the creation and supply of public housing sites, measures to improve the legislation for efficient and sustainable cities were proposed. It suggested improvement directions according to changes in the goals, policy directions, functions, and roles of the ｢Special Act on Public Housing｣, which is the basis for the supply of public housing sites, and suggested ways to improve the consistency of the legal system. In addition, measures to strengthen the functional elements of the city were reviewed by creating large-scale public housing districts centered on the ｢Special Act on Public Housing｣, efficient management of the created housing sites, and acceptance of social changes. Above all, in order to ensure the sustainability of the city, the direction of improvement in the overall legal system was suggested, from the planning stage to urban management after the supply of housing sites.

Гонка нанометров: американская политика в отношении Тайваня и Республики Корея

Intensive development of manufacturing capabilities of Taiwan and Republic of Korea (RoK) since 1960s leads to their emergence as key global semiconductor asset. Until 2020/2021 TSMC and Samsung supplied almost 100% of most technologically advanced chips. The U. S. considered this situation as critical dependence – both for political (conflict with China, securitization of digital technologies, etc.) and economic reasons (risks of supply distortions). Along with science and technology (S&T) efforts major accent was put on new relations with Taiwan and RoK as sources of investments and competences needed to regain U.S. capabilities. By forcing and stimulating TSMC and Samsung to localize its facilities in the USA, American elites tried to solve set of different tasks. Among them were supporting strategic technological autonomy from Asia, and limiting Chinese potential for development (by requiring non-cooperation with PRC in exchange for subsidies). However, due to economic, regulatory, and competence drawbacks efficiency of this new strategy is questionable. Crisis in the electronic industry since the fall of 2022 makes the situation even more problematic. In the mid-term the strategy may not change the balance of power in microchip manufacturing and architecture of relationship with both Asian economies. This requires further development of American economic diplomacy toward Taiwan, RoK – as well as Japan (a so-called “Chip 4” group). This coincides with changes in market dynamics of semiconductor industry. On one hand, geopolitics and value chain resilience became organic factors defining investments and operational expenses. On the other, we may envision sharp rise of competition among nations and companies. Thus, for the long-term success may be determined only by S&T and Innovations (also through industry restructuring) where USA are still strong, but their success isn’t guaranteed anymore.

Impact of Covid-19 on Global Economy: Relevance of Needonomics-

In the wake of Coronavirus (Covid 19), the global economy faced many challenges and stands victimised with recession in most of the economies including India. Covid 19 proved as the ‘Black Swan’ of global economy which has swallowed millions of human lives better not to be quantified. To cope up the impact of Covid 19, every citizen as consumer, producer, distributor, and trader has a role to play in the global economy to be revived from the recession caused by demand and supply distortions during covid (DC). It will be rele-vant to understand the functioning of the global economy before covid (BC), during covid (DC) and after covid (AC) by the economist to ponder over the solutions for the prob-lems. Being a votary for needonomics school of thought, I believe that every citizen must accept the responsibilities of needo-education for edu-cating youth not only employability and entre-preneurship but the basics of everything we need in our daily lives. We need to go beyond looking at government to find ways to develop the most valuable resources, the people. Needo-health : how to lead a healthy lifestyle, have a balanced diet, need of doing physi-cal activities and taking care of our thoughts and emotions. Needo-finances to earn a decent living by judicious spending. Nee-do-morality for living a disciplined life with empa-thy (not lip service of sympathy) towards all around us. calls for under-standing the principle of ‘Needonomics (economics of needs)”. We need resources which are cer-tainly limited and required to be spent judiciously confining to needs. The domain of ‘Needonomics’ as innovation is spiritual, nonviolent and ethical in nature based on the logo of Life Insurance Corpora-tion (LIC) of India ‘Yogak-shemam Vahamya-ham’(Your welfare is our responsibility). ABC of Needonomics with accu-racy, brevity and clarity have to be understood and adopted for the solu-tion of economic and non- economic problems in the society. Needonomics can say no to inward foreign direct investment (FDI) and takes care of the minimum needs of the weaker sections of the society (practising the art of giving with living in minimalism). It is believed by the researcher that the problems including violence, terrorism, exploitation and corrup-tion of all kinds are caused by ‘Greedonomics’ (eco-nomics of greed) and can be reduced if not removed by ‘Needonomics’ which deserve attention and adoption by all the stake-holders including politi-cians ( both in power and opposition) as an innova-tion of India. We need to research and rethink out of the box solutions for the problems of the econ-omy. We have to be com-passionate towards the weaker sections of the society requiring art of giving, possible only by adopting Needonomics. Economy can be people friendly and socially bene-ficial only if undertaken in accordance with NAW approach (Need, Afford-ability and Worth of the goods and services) of international marketing. To become the desired human resources, the stake holders must become street SMART and SIMPLE with spiritual input flowing from the epics including Gita and Anu-Gita.

Production delays, supply distortions and endogenous price dynamics

It takes time to produce commodities, and different production technologies may take different lengths of time. Suppose that firms may switch between different production technologies that take different lengths of time. A natural implication of such a scenario is that not all firms would then offer their commodities in every period, i.e. firms’ total supply schedule would become a time-varying quantity. Based on a behavioral cobweb framework, we analytically demonstrate that commodity markets become unstable when firms switch too rapidly between production technologies that take different lengths of time. In particular, we observe that supply distortions lead to endogenous commodity price dynamics due to a mismatch between supply and demand.

The Diabetes Prevention Gap And Opportunities To Increase Participation In Effective Interventions.

To understand the current state of prediabetes burden and treatment in the US, we examined recent trends in prediabetes prevalence, testing, and access to preventive resources. We estimated 13.5percent prevalence of diagnosed prediabetes in the overall US adult population, using national survey data. Although prediabetes prevalence increased by 4.8percentage points from 2010 to 2020, access to preventive resources remained low. The most effective intervention for diabetes prevention, known as the National Diabetes Prevention Program, remained woefully undersupplied and underused. There are only 2,098 National Diabetes Prevention Program-recognized providers nationally, and only 3percent of adults with prediabetes have participated in the program. We suggest three actions to augment prevention efforts: increase payment for prevention interventions to avoid supply distortions, improve data integration and patient follow-up, and extend coverage and broaden access for preventive interventions. These actions, which would require policy-level changes, could lower the barriers to prevention.

Efficiency Versus Insurance: Capital Income Taxation and Privatizing Social Security

We study the interactions between capital income tax and social security privatization in the context of rising longevity. In an economy with idiosyncratic income shocks, redistributive defined benefit social security provides some insurance against income uncertainty. This insurance comes at the expense of efficiency loss due to labor supply distortions. The existing view in the literature states that reducing this distortion by introducing (partially funded) defined contribution social security would reduce welfare because the loss of insurance and the transitory fiscal gap dominate the efficiency gains. However, prior research financed the transitory costs of the reform by taxing consumption. We show that in the context of longevity, capital income taxation provides a superior alternative: welfare gains are sufficient to outweigh the loss of insurance and transitory fiscal gap. We provide explanations for a mechanism behind this result and we reconcile our results with the earlier literature.

Improving of the vector control system structure of the active controlled rectifier

The vast majority of electricity is used by industrial facilities in a converted form. At the same time, the use of semiconductor converters to obtain the required load parameters is intensively increasing. Current trends in the development and improvement of semiconductor converters are aimed at energy saving by improving their quality of work and reducing the impact on the power supply, load, and related consumers. Frequency converter with DC insert has become widespread and widely used. Its scheme is mainly based on an uncontrolled diode rectifier and an autonomous voltage inverter. Uncontrolled rectifiers are simple and reliable, but have two main disadvantages: the impossibility to recover electricity to the supply network and distortions of the source current shape. We can get rid of these disadvantages by using an active rectifier made according to the voltage source scheme instead of an uncontrolled rectifier. The operation of an active rectifier significantly depends on the type of its control system structure. This article aims to to improve the structure of the switches control system of the active rectifier scheme – voltage source built using a vector calculation algorithm; creation of a MatLab model of a three-phase active-controlled rectifier operating with a fixed modulation frequency and analysis of the influence of the input inductance value on the quality of its operation. The simulation results confirm that the improved structure of the vector control system proposed by the authors ensures high-quality operation of the active rectifier and electromagnetic compatibility of the frequency converter with the power supply network at the level allowed by the standards; simplification of the representation mathematical apparatus of the generalized vectors of currents and voltages at the construction of a vector control system of the active rectifier – voltage source practically did not influence qualitative indicators of the converter work in any way; a network filter must be used to eliminate the final distortions introduced into the source voltage by an additional nonlinear load.

Market Power and Income Taxation

This article analyzes concerns about market power and inequality in a model with multiple sectors, heterogeneous abilities, endogenous labor supply, and nonlinear income taxation. Proportional markups with no profit dissipation have no effect on the economy, and a policy that reduces a nonproportional markup raises (lowers) welfare when it is higher (lower) than a weighted average of other markups. With proportional (partial or full) profit dissipation, proportional markups are equivalent to a downward shift of the distribution of abilities, and the optimal policy rule with nonproportional markups maximizes consumer plus producer surplus despite concerns for distribution and labor supply distortion. (JEL D43, D61, H21, H23, H24, K21, L13, L40)

Deception as a Bridging Concept in the Study of Disinformation, Misinformation, and Misperceptions: Toward a Holistic Framework

AbstractWe propose deception as a bridging concept that will enhance the study of misinformation, disinformation, and misperceptions. As we set it out here, the concept integrates insights from multiple social science disciplines and uniquely connects actors’ intentions, information, and attitudinal or behavioral outcomes. A focus on deception will enrich research that describes the existence of false and misleading information but stops short of identifying their influence. Equally, through its focus on how actors’ deceptive strategies are important in attempts to exercise power, it can augment the study of the cognitive and attitudinal biases that render people susceptible to misperceptions. We identify the main themes in the study of deception: media-systemic distortions in information supply; the relational interactions that both produce and activate cognitive biases; and the attributes, strategies, and techniques of deceptive entities. We conclude with a summary typology of 10 principal variables and their 57 focal indicators.

Development of a High-Power-Factor Power Supply for an Atmospheric-Pressure Plasma Jet

This paper presents the design and implementation of a miniaturized high-voltage power supply with power factor correction (PFC) for atmospheric-pressure plasma jet (APPJ) applications. The sinusoidal output frequency and voltage of the power supply can be controlled independently from 16 to 24 kHz and from 1 to 10 kVpeak, respectively. A helium APPJ load is used to assess the performance of the developed power supply. It is shown that the developed high-voltage power supply operates effectively, and the designed PFC converter improves the input current distortion of the power supply. Not only the power factor of the power supply is increased from 0.41 to 0.95, but it also provides a low-ripple DC voltage, which reduces the high-voltage ripple of the output from 730 to 50 Vp-p. In this paper, the proposed design integrates the PFC converter into the high-voltage power supply so that the developed power supply has better electrical characteristics and the overall power supply can be significantly miniaturized.

Structural distortion and the shortage of peak-load power resources in China: A screening curve approach and case study of Shandong Province

The structural distortion of the power supply in China has resulted in the dilemma of the coexistence of power overcapacity and peak power gap, which is caused by insufficient compensation to the peaking resources due to irrational power market mechanisms. This study employs a screening curve model to clarify the positions of various power resources in Shandong Province. The study finds that Shandong's peak load should be met by life-extended coal units and demand response, which could save 23.44 billion yuan annually. With an extension in peak-load duration, the supply mix becomes more economical and feasible.

Switched Capacitor Compensation of Supply Distortion in Class-D Amplifiers

This paper presents a switched capacitor technique for bus-pumping compensation in a half-bridge class-D amplifier. The proposed approach, in addition to the almost complete reduction of the bus-pumping effect, allows the half-bridge class-D amplifier to preserve maximum energy efficiency. The studied hardware implementation of the proposed technique demonstrates its advantages of high efficiency, simple circuit, and low cost. The principal design and operating principles are analyzed and described. The experimental static characteristics and time-domain waveforms for the proposed technique are shown to verify its feasibility.

Effect of the Harmonic Voltage Distortion on the Efficiency of a Compact Fluorescent Lamp

This paper evaluates the effect of the voltage harmonic distortion over the efficiency of a compact fluorescent lamp that is fed with a constant RMS voltage and constant frequency. Several works have been published about the assessment of compact fluorescent lamps, but the effect of the voltage distortion over the efficiency is still an open topic. This work focuses on designing an experiment to estimate the efficiency of a compact fluorescent lamp while changing the voltage harmonic distortion of the power supply. First, a mathematical model that represents a bus susceptible to harmonic distortion (high impedance) that feeds the compact fluorescent lamp is analyzed. Then the mathematical model is reproduced through a test bench in a laboratory of rotating electrical machines. The test bench produces a three-phase bus with constant voltage and frequency, and variable voltage harmonic distortion. The compact fluorescent lamp is subjected to varying harmonic voltage distortion while recording its electrical variables and the produced lumens to estimate its efficiency. That is a practical approach to calculate the lamp efficiency while several works limit their scope measuring only the efficiency of the input converter. The experimental results show that a variation of the voltage harmonic distortion of 8 % on a compact fluorescent lamp reduces its efficiency. Those results put into evidence the importance of regulating harmonic distortion limits to reduce or prevent the increment of power losses caused by harmonic components.

Single-phase power line conditioning with unity power factor under distorted utility voltage

The paper proposes a control method of a single-phase active power line conditioner (APLC) aimed at correcting the power factor of linear and non-linear loads supplied by distorted voltage utility. The method, that is based on the single-phase p-q theory and utilizes a third-order sinusoidal signal integrator, gets utility unity power factor and, at the same time, overcomes the shortcomings of the solutions pursuing utility sinusoidal current, namely the possible onset of un-damped resonance phenomena and the reduction in the energy delivery capabilities; moreover, the method makes the power factor correction robust against the supply distortion. The excellent performance of the method is substantiated by testing it by means of a hardware-in-the-loop setup.

Spatial Distribution of Supply and the Role of Market Thickness: Theory and Evidence from Ride Sharing

This paper develops a strategy with simple implementation and limited data requirements to identify spatial distortion of supply from demand – or, equivalently, unequal access to supply among regions – in transportation markets. We apply our method to ride-level, multi-platform data from New York City (NYC) and show that for smaller rideshare platforms, supply tends to be disproportionately concentrated in more densely populated areas. We also develop a theoretical model to argue that a smaller platform size, all else being equal, distorts the supply of drivers toward more densely populated areas due to network effects. Motivated by this, we estimate a minimum required platform size to avoid geographical supply distortions, which informs the current policy debate in NYC around whether ridesharing platforms should be downsized. We find the minimum required size to be approximately 3.5M rides/month for NYC, implying that downsizing Lyft or Via – but not Uber – can increase geographical inequity.

Differential mortality and the progressivity of social security

There is a well-established negative correlation between earnings and mortality risk. Using a calibrated general-equilibrium macroeconomic model, this paper examines how this correlation interacts with the welfare implications of Social Security's benefit-earnings rule. My primary findings suggest that the welfare ranking of alternative benefit-earnings rules is somewhat sensitive to differential mortality. Due to their relatively high mortality risk, households with unfavorable earnings histories heavily discount the expected utility from old-age consumption, and therefore do not put much weight on better work-retirement consumption smoothing. Because of this reason, Social Security's benefit-earnings rule warrants less redistribution in the presence of differential mortality, compared to when mortality risk is uncorrelated to earnings. I find that this result continues to hold when household-level labor supply distortions are ignored, and also when an alternative “maximin” welfare criterion is considered, but not when accidental bequests from the deceased are redistributed to the survivors.

A Novel Control DC-DC-AC Buck Converter for Single Phase Capacitor-Start-Run Induction Motor Drives

A novel control DC-DC-AC buck converter for single phase capacitor-start-run induction motor drives is presented in this paper. The objective is to minimize harmonic distortion in inverter output voltage supply to a Single Phase Induction Motor (SPIM). Here, the output of a variable duty cycle buck DC-DC converter is fed to an H-bridge inverter to generate a very close sinusoidal output voltage. Few power semiconductor switches are utilized to produce inverter output voltage with reduced harmonic distortion comparable with results achieved in multilevel inverters. The SPIM was analysed in the stationary d-q reference frame while the buck converter was operated in the Continuous Conduction Mode (CCM) to ensure that the output voltage vary exactly as the duty cycle. The simulation results show good starting transient characteristics for the SPIM and also stable operation under intermittent loading of 4 N-m. The average inverter output voltage of 157.4 V was achieved with Total Harmonic Distortion (THD) as low as 6.32%. This configuration is simple, cheap, and has reduced control complexity.