In light of the many discussions advocating the use of pay-for-performance and performance budgeting, this paper argues that discouraging experience with both approaches should temper expectations that performance measurement can be a reform that will make health care systems more "sustainable"...

This paper provides extensions to existing procedures for representing one-factor no-arbitrage models of the short rate in the form of a tree. It allows a wide range of drift functions for the short rate to be used in conjunction with a wide range of volatility assumptions. It shows that, if the...

The OECD has created a Joint Network on Fiscal Sustainability of Health Systems. This article, developed as input to that project, seeks to summarise both why budgeting for healthcare is particularly challenging and why the challenge is often misunderstood. I argue that sustainability is a...