Demographic structure and monetary policy effectiveness: evidence from Taiwan

An Evaluation of the Impact of Monetary Easing Policies in Times of a Pandemic

This article tests five major economies of the world, United Kingdom, Japan, Brazil, Chin and lastly, India, for the changes in the monetary policy decisions that have been implemented following the Covid-19 outbreak. The assessment was undertaken in the form of an event study analysis, further substantiated with a regression analysis conducted for exploring the significance of CPI and real GDP in predicting the policy interest rates in the economy. The results of the event study analysis presented that the abnormal changes in the interest rates were statistically significant in the case of the United Kingdom, Brazil, and China, while the abnormal changes were found to be statistically insignificant in the case of India and Japan.

Age Structural Transitions and Copayment Policy Effectiveness: Evidence from Taiwan's National Health Insurance System

Background: Population ageing is a worldwide phenomenon that could influence health policy effectiveness. This research explores the impact of age structural transitions on copayment policy responses under Taiwan’s National Health Insurance (NHI) system. Methods: The time-varying parameter vector autoregressive model was applied to create two measures of the copayment policy effectiveness, and multiple linear regression models were used to verify the nonlinear effect of age structural transitions on copayment policy responses. Results: Our results show that copayment policy effectiveness (in terms of the negative response of medical center outpatient visits to upward adjustments in copayment) is positively correlated with the proportions of the population in two older age groups (aged 55–64 and ≥ 65) and children (age < 15), but negatively correlated with the proportion of the population that makes up most of the workforce (aged 15‒54). These tendencies of age distribution, which influence the responses of medical center outpatient visits to copayment policy changes, predict that copayment policy may have a greater influence on medical center outpatient utilization in an ageing society. Conclusions: Policymakers should be concerned about the adverse effects of copayment adjustments on the elderly, such as an increasing financial burden and the effect of pricing some elderly patients out of Taiwan’s NHI system.