Government of Kazakhstan needs to take decisive measures to reduce the "out-of-pocket expense" of the population for health care …

Government of Kazakhstan needs to take decisive measures to reduce the "out-of-pocket expense" of the population for health care …

ailing affiliated MMFs. We hypothesize that PI-MMFs price this shadow insurance through higher expense ratios. Indeed, after … September 2008 when industry risk increased, expense ratios were seven basis points higher than those of non-BHC-sponsored MMFs …, despite higher expense ratios, the redemptions in BHC sponsored MMFs were lower in contrast to expectations of prior …