The net discount rate literature applied to computing the present value of future earnings has focused on examining the historical relationship between earnings growth and bond yields with a recent emphasis on the post-1980 period. However, estimates of the net discount rate from either the pre-...

Nursing homes vary widely between facilities with very few beds and facilities with several hundred beds. Previous studies, which estimate nursing home scale and scope economies, do not account for this heterogeneity and implicitly assume that all nursing homes face the same cost structure. To...