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2020

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Articles 1 - 30 of 226

Full-Text Articles in Economic Policy

Evaluasi Implementasi Jaminan Persalinan (Jampersal) Di Indonesia, Mazda Novi Mukhlisa, Rosa Estetika Dec 2020

Evaluasi Implementasi Jaminan Persalinan (Jampersal) Di Indonesia, Mazda Novi Mukhlisa, Rosa Estetika

Jurnal Ekonomi Kesehatan Indonesia

Jampersal as a transfer fund from central to district government is provided to support maternal and child health services aiming to increase access to health services for pregnant women, childbirth and postpartum mothers, also newborns to competent health facilities. This analysis aimed to evaluate the use of Jampersal in increasing institutional delivery using quantitative and qualitative approaches. For the quantitative approach, this analysis used Riskesdas 2018 and routine data from the Ministry of Health. The data was analyzed using benefit incidence analysis (BIA) and linear regression. The quantitative approach was conducted at two levels, the individual level (80,459 pregnant women) …


Peran Organisasi Civil Society Dan Belanja Program Penanggulangan Tb (Tuberkulosis) Di Indonesia: Studi Kasus Pw (Persatuan Wilayah) Aisyiyah Aceh, Hanifah Hasnur, Dharina Baharuddin, Asnawi Abdullah Dec 2020

Peran Organisasi Civil Society Dan Belanja Program Penanggulangan Tb (Tuberkulosis) Di Indonesia: Studi Kasus Pw (Persatuan Wilayah) Aisyiyah Aceh, Hanifah Hasnur, Dharina Baharuddin, Asnawi Abdullah

Jurnal Ekonomi Kesehatan Indonesia

The number of TB cases in Aceh has reached 8471 cases in 2018; 240 (2.8%) cases occurred among children. The real cases in the community were estimated higher than this figure. The success of TB control was influenced by many factors, including the roles of civil society organizations. This research was conducted to analyze the roles of civil society organizations in controlling TB cases in the community. A case study was conducted at PW Aisyiyah Aceh using an economic evaluation methodology for tracking expenditures for TB program activities (2011-2013) compared to the targets. The study showed that PW Aisyiyah has …


Determinan Sosial Ekonomi Terhadap Berat Badan Lebih Dan Obesitas Di Indonesia: Analisis Data Ifls 2014, Fajar Nugraha, Riki Relaksana, Adiatma Y. M. Siregar Dec 2020

Determinan Sosial Ekonomi Terhadap Berat Badan Lebih Dan Obesitas Di Indonesia: Analisis Data Ifls 2014, Fajar Nugraha, Riki Relaksana, Adiatma Y. M. Siregar

Jurnal Ekonomi Kesehatan Indonesia

The phenomenon of overweight and obesity has become a serious problem in various countries, especially in Indonesia. According to WHO in 2016 there were 2.8 million people who died due to the problem of overweight and obesity, while according to the Indonesian Ministry of Health the prevalence of overweight and obesity in Indonesia in 2018 reached 13,6% and 21.8%. One of the factors that cause overweight and obesity is socio-economic status. However, there are often differences regarding the effect of socioeconomic status on obesity in developing and developed countries. This study aims to identify the determinant factors of socioeconomic status …


Strategi Implementasi Jaminan Kesehatan Nasional Dengan Metode Balanced Scoredcard: Studi Kasus Di Rumah Sakit X Tangerang Tahun 2018, Luh Putu Sinthya Ulandari, Jaslis Ilyas, Putu Ayu Indrayathi Dec 2020

Strategi Implementasi Jaminan Kesehatan Nasional Dengan Metode Balanced Scoredcard: Studi Kasus Di Rumah Sakit X Tangerang Tahun 2018, Luh Putu Sinthya Ulandari, Jaslis Ilyas, Putu Ayu Indrayathi

Jurnal Ekonomi Kesehatan Indonesia

One of the private hospital successful implementation the National Health Insurance with cost efficiency without neglecting the quality of service is X Hospital. This study aimed to finding out the strategy of X Hospital in the implementation of the National Health Insurance with Balanced Scorecard. The research was conducted in May 2018 using qualitative approach. Data was collected through in-depth interview to 7 informants from hospital and 2 informants from BPJS Kesehatan. The subjects were selected purposively and the data was analyzed using thematic analysis. The results show that there are several strategies that have been developed and implemented, including: …


Hubungan Realisasi Alokasi Dana Kesehatan Dan Pemanfaatan Pelayanan Kesehatan Ibu Di Indonesia, Izzun Nafiah Dec 2020

Hubungan Realisasi Alokasi Dana Kesehatan Dan Pemanfaatan Pelayanan Kesehatan Ibu Di Indonesia, Izzun Nafiah

Jurnal Ekonomi Kesehatan Indonesia

Increasing the utilization of maternal health services is an important target for the Indonesian government to increase the achievement of the SDGs targets. Funds budgeted for the health sector are at least 5% of the APBN and 10% of APBD excluding salaries. This is smaller than countries in the low-income category, while WHO shows that an increase in the allocation of health funds has a positive relationship with the degree of public health. Therefore, this study aims to determine whether there is a relationship between the realization of health fund allocation and the utilization of maternal health services in Indonesia. …


Analisis Faktor Socioeconomic Status (Ses) Terhadap Kesehatan Mental: Gejala Depresi Di Indonesia, Yustika Dewi, Riki Relaksana, Adiatma Y. M. Siregar Dec 2020

Analisis Faktor Socioeconomic Status (Ses) Terhadap Kesehatan Mental: Gejala Depresi Di Indonesia, Yustika Dewi, Riki Relaksana, Adiatma Y. M. Siregar

Jurnal Ekonomi Kesehatan Indonesia

According to the World Federation of Mental Health, 1 of 5 people in the world experiences a mental disorder. Several studies have mentioned that one of the primary factors that cause mental disorders is the low of socioeconomic status in developing countries. Therefore, this study was conducted to determine the influence of socioeconomic status factors on depressive symptoms as a mental disorder, in one of the developing countries, Indonesia. This study uses a quantitative method based on secondary data taken from the Indonesia Family Life Survey (IFLS) wave 5 using the CESD-R 10 questionnaire for depressive symptom variables. Depression symptom …


Sistem Pembayaran Mixed Method Ina-Cbgs Dan Global Budget Di Rumah Sakit: Tahap 1 Uji Coba Mixed Method Ina-Cbgs-Global Budget Di Indonesia, Fachmi Idris, Atik Nurwahyuni, Wan Aisyiah Baros Dec 2020

Sistem Pembayaran Mixed Method Ina-Cbgs Dan Global Budget Di Rumah Sakit: Tahap 1 Uji Coba Mixed Method Ina-Cbgs-Global Budget Di Indonesia, Fachmi Idris, Atik Nurwahyuni, Wan Aisyiah Baros

Jurnal Ekonomi Kesehatan Indonesia

When it comes to provider payment system, no one shoe fits all including DRG payment system which in Indonesia are known as INA-CBGs. In some countriesthat used DRGhave mixed it with Global Budget in various mechanisms to maintain the sustainability of the national health insurance system in their countries. BPJS Kesehatan initiated a three-stage pilot study on the implementation of the mixed-method hospital payment system INA-CBGs and Global Budget starting in 2018. The first stage is the Non-Risk stage which aims to test the accuracy of the global budget calculation and prediction and to identify the challenges faced when the …


Social Determinants Of Health: The Impact On Health Outcomes And Hospital Profitability, Danielle Mcpherson Dec 2020

Social Determinants Of Health: The Impact On Health Outcomes And Hospital Profitability, Danielle Mcpherson

Doctor of Business Administration Dissertations

Hospitals are experiencing decreasing profitability due to increasing healthcare cost. In this paper, I demonstrate that there is financial value to hospitals by addressing social determinants of health (SDOH) as this strategy improves health outcomes and yields cost savings. I estimate the impact of SDOH on the health outcomes using an IV probit regression analysis and estimated the impact of health outcomes on cost using a basic linear regression. I estimate that improving SDOH by one standard deviation will result in hospital cost savings as follows: addressing Violent Crime will decrease hospital cost between 0.16% and 0.21%, addressing Supplemental Nutrition …


Racial And Ethnic Disparities In Housing Instability During The Covid-19 Pandemic, Yung Chun, Stephen Roll, Selina Miller, Hedwig Lee, Savannah Larimore, Michal Grinstein-Weiss Dec 2020

Racial And Ethnic Disparities In Housing Instability During The Covid-19 Pandemic, Yung Chun, Stephen Roll, Selina Miller, Hedwig Lee, Savannah Larimore, Michal Grinstein-Weiss

Social Policy Institute Research

Stable and adequate housing is critical in the midst of a pandemic; without housing, individuals and families cannot shelter in place to prevent the spread of disease. Understanding and combating housing hardships in vulnerable populations is therefore essential to a sound public health response. This study aims to explore the pandemic’s disproportionate impacts on housing-related hardships across racial/ethnic groups in the United States as well as the extent to which these disparities are mediated by households’ broader economic circumstances; namely, their pre-pandemic liquid asset levels and the experience of COVID-19-related job and income losses. Using a national survey of over …


Covid-19 Educational Inequities: Shining A Light On Disparities In A Graduate School Of Social Work, Jason Jabbari, Dan Ferris, Tyler Frank, Michal Grinstein-Weiss Dec 2020

Covid-19 Educational Inequities: Shining A Light On Disparities In A Graduate School Of Social Work, Jason Jabbari, Dan Ferris, Tyler Frank, Michal Grinstein-Weiss

Social Policy Institute Research

In the wake of COVID-19, universities and schools of social work face unprecedented challenges and uncertainty in aligning their academic models with public heath protocols and best practices, while prioritizing the safety and well-being of their students. In order to best respond to these challenges and uncertainty, more research is needed to advance a greater understanding of (1) what challenges students face, (2) who is most at risk and impacted by these challenges, and (3) how universities can best support students. Through a survey administered during the spring 2020 semester at a large research university in the Midwest, we explored …


Technical Efficiency Of Public Middle Schools In New York City, William C. Horrace, Michah W. Rothbart, Yi Yang Dec 2020

Technical Efficiency Of Public Middle Schools In New York City, William C. Horrace, Michah W. Rothbart, Yi Yang

Center for Policy Research

Using panel data and a “true” fixed effect stochastic frontier model, we estimate persistent and transient technical inefficiency in mathematics (Math) and English Language Arts (ELA) test score gains in NYC public middle schools from 2014 to 2016. We compare several measures of transient technical inefficiency and show that around 58% of NYC middle schools are efficient in Math gains, while 16% are efficient in ELA gains. Multivariate inference techniques are used to determine subsets of efficient schools, providing actionable decision rules to help policymakers target resources and incentives.


Conceptualizing Social Capital As Access To Social Network And Mobilization Of Network Resources: A Study Of Workplace Literacy Programs And Low-Income Somali Refugee Workers, Angela Uchechukwu Nwude Dec 2020

Conceptualizing Social Capital As Access To Social Network And Mobilization Of Network Resources: A Study Of Workplace Literacy Programs And Low-Income Somali Refugee Workers, Angela Uchechukwu Nwude

Graduate Theses and Dissertations

There is a substantial body of literature on the economic benefits of workplace literacy programs, and much less empirical studies on the social or non-economic outcomes of workplace literacy programs, particularly in the context of low-income refugee workers. Adopting a social network approach, this study examines the impact of workplace literacy programs on the social capital development of Somali refugee workers. Social capital can be defined as the network of relationships possessed by an individual or social group that facilitates their access to emotional, instrumental, or informational resources, essential for their daily survival, stability, or upward mobility. This study takes …


Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa Dec 2020

Impact Of Government Expenditure On Economic Growth In Nigeria, 1970-2019, Aluthge Chandana, Jibir Adamu, Abdu Musa

CBN Journal of Applied Statistics (JAS)

This study investigates the impact of Nigerian government expenditure (disaggregated into capital and recurrent) on economic growth using time series data for the period 1970-2019. The paper employs Autoregressive Distributed Lag (ARDL) model. To ensure robustness of results, the study accounts for structural breaks in the unit root test and the co-integration analysis. The key findings of the study are that capital expenditure has positive and significant impact on economic growth both in the short run and long run while recurrent expenditure does not have significant impact on economic growth both in the short run and long run. The study …


Who Relocates, Where Do They Move, And Why?, Yung Chun, Jason Jabbari, Pranav Nandan, Andrew Foell, Michal Grinstein-Weiss Nov 2020

Who Relocates, Where Do They Move, And Why?, Yung Chun, Jason Jabbari, Pranav Nandan, Andrew Foell, Michal Grinstein-Weiss

Social Policy Institute Research

The lack of socioeconomic mobility among marginalized populations leads to the concentration of poverty, a long-standing issue in American cities. Empirical studies on neighborhood effects have found that poverty concentration adversely affects the socioeconomic mobility of residents—associated with their economic well-being, employment, education, health, and safety—in lower-income neighborhoods. Through a variety of neighborhood revitalization projects, federal, state, and local governments have put enormous efforts into cutting the vicious cycle of poverty while increasing the socioeconomic mobility of lower-income households. One of these projects, the Choice Neighborhood Initiative, is a recent Federal effort to revitalize distressed public housing sites in American …


Visualizing Vulnerable Jobs In Nevada, Peter Grema, Vanessa Booth, Caitlin J. Saladino, William E. Brown Jr. Nov 2020

Visualizing Vulnerable Jobs In Nevada, Peter Grema, Vanessa Booth, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

This Fact Sheet summarizes data on Nevada and its metropolitan statistical areas (MSAs) from the national report “Visualizing Vulnerable Jobs Across America,” by Marcela Escobari, Natalie Geismar, and Dhruv Gandhi of the Brookings Institution. Data from the original report and accompanying database are used to highlight the total number and share of vulnerable jobs in the Silver State during the COVID-19 pandemic.


A Cross National Comparison Of Family Friendly Work Policies: The Potential Influence Of Cultural Values, Adeline Grace Hardten Nov 2020

A Cross National Comparison Of Family Friendly Work Policies: The Potential Influence Of Cultural Values, Adeline Grace Hardten

Undergraduate Honors Theses

Around the world people must work for a living, but also must raise their families. To balance these obligations, parents need high levels of support. But the existence of family friendly work policies, defined as paid parental leave and affordable, high-quality childcare, vary significantly across nations, making it difficult for many to obtain the necessary support. Research indicates that countries providing supportive family friendly policies see economic benefits, increases in profitability, and stronger overall youth development. Even though research reveals strong positive outcomes, there is a deficiency of exploration into why more countries still lack comprehensive policies that support working …


The Influence Of Foreign Elite Rhetoric: National Identity, Emotions, And Attitudes Toward Austerity, Alessandro Del Ponte Nov 2020

The Influence Of Foreign Elite Rhetoric: National Identity, Emotions, And Attitudes Toward Austerity, Alessandro Del Ponte

Political Science Faculty Articles and Research

How does foreign elite rhetoric affect citizens’ emotions and attitudes about austerity? In a survey experiment conducted on the online blogs of the two major Italian newspapers, participants read a fictional news article where the German Chancellor addressed Italians. Across treatments, I varied whether the message blamed or praised Italians, and whether the message focused on economic or symbolic concerns. Praise generated enthusiasm whereas blame spurred anger and anxiety. Moreover, respondents with a strong national or European identity who read a message of praise were more enthusiastic, less angry, and less opposed to austerity. Finally, people who identify strongly with …


The Affordable Care Act And Entrepreneurship Lock: An Updated Examination Of Employer-Based Healthcare’S Effect On Self-Employment By Demographic Group, Sean Ruddy Nov 2020

The Affordable Care Act And Entrepreneurship Lock: An Updated Examination Of Employer-Based Healthcare’S Effect On Self-Employment By Demographic Group, Sean Ruddy

Undergraduate Economic Review

This paper capitalizes on a natural experiment created by differences in Medicaid expansion under The Patient Protection and Affordable Care Act (ACA). A difference and difference model comparing states that did and did not expand Medicaid is conducted to investigate if providing an alternative and low-cost source of health insurance affects self-employment rates overall and across different demographic groups. The results suggest that living in a state that expanded Medicaid was associated with a 1.4 percent increase in the likelihood that an individual will be self-employed and that this effect is heterogeneous across different demographics, being largest among African Americans.


Migration And Inequalities In The Face Of Covid-19: Vulnerable Populations And Support Networks In Mexico And The United States, Claudia Masferrer Nov 2020

Migration And Inequalities In The Face Of Covid-19: Vulnerable Populations And Support Networks In Mexico And The United States, Claudia Masferrer

Mission Foods Texas-Mexico Center Research

Our world changed drastically on February 11th 2020 when the World Health Organization announced the name of the new coronavirus disease as COVID-19, and the pandemic was later considered the greatest challenge we have faced since World War II. Although we have started to experience social life in various new ways, the impacts that it will bring are still unknown. In recent years, migration had already undergone different transformations globally, and more changes are expected. How will populations on the move and migrant populations live in the following years post-COVID, and how different actors will respond to these changes, is …


Migration And Inequalities In The Face Of Covid-19: Economic, Political And Social Context In Mexico And The United States, Claudia Masferrer Nov 2020

Migration And Inequalities In The Face Of Covid-19: Economic, Political And Social Context In Mexico And The United States, Claudia Masferrer

Mission Foods Texas-Mexico Center Research

Our world changed drastically on February 11th 2020 when the World Health Organization announced the name of the new coronavirus disease as COVID-19, and the pandemic was later considered the greatest challenge we have faced since World War II. Although we have started to experience social life in various new ways, the impacts that it will bring are still unknown. In recent years, migration had already undergone different transformations globally, and more changes are expected. How will populations on the move and migrant populations live in the following years post-COVID, and how different actors will respond to these changes, is …


The Gap Remains: Social Security Benefits Continue To Fall Short Of Covering Basic Cost Of Living For Older Americans, 2015-2020, Jan Mutchler, Yang Li Nov 2020

The Gap Remains: Social Security Benefits Continue To Fall Short Of Covering Basic Cost Of Living For Older Americans, 2015-2020, Jan Mutchler, Yang Li

Center for Social and Demographic Research on Aging Publications

Older Americans rely heavily on Social Security to support an independent lifestyle. Recent estimates suggest that among adults aged 65 years or older, more than half rely on Social Security for at least 50% of their family income, while nearly a quarter depend on Social Security for 90% or more of their family income.

Despite this substantial reliance on Social Security among older adults, Social Security benefits fall short of what is required to cover a basic cost of living across the United States, according to new estimates based on the Elder Index, a county-by-county measure of the income older …


The Effects Of Vietnam-Era Military Service On The Long-Term Health Of Veterans: A Bounds Analysis, Xintong Wang, Carloa A. Flores, Alfonso Flores-Lagunes Nov 2020

The Effects Of Vietnam-Era Military Service On The Long-Term Health Of Veterans: A Bounds Analysis, Xintong Wang, Carloa A. Flores, Alfonso Flores-Lagunes

Center for Policy Research

We analyze the short- and long-term effects of the U.S. Vietnam-era military service on veterans’ health outcomes using a restricted version of the National Health Interview Survey 1974-2013 and employing the draft lotteries as an instrumental variable (IV). We start by assessing whether the draft lotteries, which have been used as an IV in prior literature, satisfy the exclusion restriction by placing bounds on its net or direct effect on the health outcomes of draft avoiders. Since we do not find evidence against the validity of the IV, we assume its validity in conducting inference on the health effects of …


Income Loss And Financial Distress During Covid-19: The Protective Role Of Liquid Assets, Stephen Roll, Mathieu Despard Nov 2020

Income Loss And Financial Distress During Covid-19: The Protective Role Of Liquid Assets, Stephen Roll, Mathieu Despard

Social Policy Institute Research

Nearly a quarter of U.S. households have experienced job or income losses related to the COVID-19 pandemic. Liquid assets mitigate financial distress in the face of financial shocks such as job loss, yet this relationship in the midst of the COVID-19 pandemic is unknown. Using a nationally representative sample of U.S. households (N = 4,383) who completed a survey in the early days of the pandemic, we examined pre-pandemic liquid assets as a moderator of the relationship between job and income loss and difficulty meeting financial obligations and use of high-cost financial resources. Estimates from propensity score-weighted linear probability models …


A New Beginning: Early Refugee Integration In The United States, Van C. Tran, Francisco Lara-García Nov 2020

A New Beginning: Early Refugee Integration In The United States, Van C. Tran, Francisco Lara-García

Publications and Research

The U.S. refugee population not only has grown dramatically, but the countries from which the refugees are fleeing have also diversified over the last decade. Focusing on five recent refugee groups—Bhutanese, Burmese, Iraqis, Somalis, and Cubans, we examine how premigration characteristics and postmigration integration policies shape early socioeconomic integration in the United States. Our analyses point to three findings. First, early socioeconomic outcomes show only modest differences across refugee groups, despite significant variation in premigration selectivity in human capital. Second, the two possible pathways toward integration are schooling and employment. Third, postmigration integration policies matter. Our findings highlight the role …


Hateproofing Your Message: Response And Prevention Strategies For "Hatejacks", Bond Benton, Daniela Peterka-Benton Oct 2020

Hateproofing Your Message: Response And Prevention Strategies For "Hatejacks", Bond Benton, Daniela Peterka-Benton

Department of Justice Studies Faculty Scholarship and Creative Works

No abstract provided.


Lessons Learned: Donald Kohn, Maryann Haggerty Oct 2020

Lessons Learned: Donald Kohn, Maryann Haggerty

Journal of Financial Crises

Kohn, an economist, is a 40-year veteran of the Federal Reserve System. He served as a member of the Board of Governors, and was vice chair, from 2002-2010, which included the years of the global financial crisis (GFC).


The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara Oct 2020

The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara

Journal of Financial Crises

The September 15, 2008, bankruptcy of Lehman Brothers resulted in a collapse of wholesale funding markets that threatened the ability of UK financial institutions to continue funding themselves. By the end of the month, two leading UK banks—HBOS and Bradford & Bingley—had to be rescued, and there was a real risk that the entire financial system could collapse. Faced with the need to stabilize the system, UK regulators on October 8 introduced a package of measures that included a £250 billion Credit Guarantee Scheme (the Guarantee Scheme) aimed at providing banks with access to needed funding. Under the Guarantee Scheme, …


Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan Oct 2020

Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan

Journal of Financial Crises

Although Sweden was not as directly impacted by the Global Financial Crisis as some other economies, Lehman Brothers’ bankruptcy on September 15, 2008, prompted Swedish authorities to take preemptive measures to protect domestic banks and financial institutions. One such program, announced on October 20, 2008, and implemented on October 29, 2008, was designed to preserve credit extension to businesses and households through what became known as the Swedish Guarantee Scheme. Per the terms of the Scheme, new short- and medium-term debt of maturities ranging from 90 days to five years issued by eligible banks would be guaranteed by the Swedish …


The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith Oct 2020

The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith

Journal of Financial Crises

Given Spanish banks’ heavy investment in the housing and construction markets in the lead-up to the global financial crisis (GFC), the collapse of the subprime mortgage market and Lehman Brothers’ bankruptcy on September 15, 2008, impelled the government to implement stabilization measures to calm, recapitalize, and restructure its domestic banking sector. The Spanish Guarantee Scheme for Credit Institutions (the Guarantee Scheme) was one of the first interventions to be enacted, announced by Spain’s Ministry of Economy and Finance on October 13, 2008, by Royal Decree-Law 7/2008 on “Urgent Economic and Financial Measures in relation to the Concerted Action Plan of …


The Portuguese Guarantee Scheme (Portugal Gfc), Julia A. Arnous Oct 2020

The Portuguese Guarantee Scheme (Portugal Gfc), Julia A. Arnous

Journal of Financial Crises

By October 2008, Portuguese banks’ access to liquidity was severely restricted due to strains in international wholesale markets. On October 12-13, 2008, the Portuguese government notified the European Commission of a guarantee scheme intended to promote solvent credit institutions’ access to liquidity as part of the European policy response to the acute financial crisis aiming to achieve and maintain financial stability. Under the scheme, the Portuguese government guaranteed financing agreements and banks’ issuance of non-subordinated short- and medium-term debt. To obtain a guarantee under the Scheme, banks paid a fee based on the maturity of the debt and a risk …