We draw on uniquely detailed micro-level data from a Belgian professional medical liability insurer to examine how different procedural and legal events that take place during the unfolding of a medical malpractice claim influence the timing of its settlement. Utilizing the competing risks regression framework, we find that settlement hazard is all else equal statistically significantly positively associated with the completion of those procedural and legal events that most effectively reveal factual information about the underlying medical malpractice case. Consistent with theory, settlement hazard is either unassociated or even negatively associated with the completion of other procedural and legal events. Our analysis, therefore, provides policy insights into which aspects of the resolution process could be emphasized, and which de-emphasized, in order to reduce the often excessive duration of medical malpractice claims and its adverse effects on the healthcare system.

This research employs an agricultural sector model that links seasonal crop production with disaggregated livestock production sectors, in tandem with observed quarterly data on U.S. drought conditions to assess the long term economic implications of drought for U.S beef cattle producers. Short term impacts show increases in feed costs as well as increases in cattle slaughter resulting from drought-induced culling. The price of live cattle decreases in the short run; however, feed prices remain above baseline levels, and beef cattle breeding inventories decline in the long run, leading to fewer calves moving through the supply chain.