Housing Wealth and Housing Decisions in Old Age: Sale and Reversion

Population ageing brings new challenges to long-term household economic decisions. In the event of old-age dependency, housing assets become a key self-insurance device. However, little empirical evidence has been reported regarding an individual"s expectations of having to use their housing wealth for such a purpose. This paper draws upon two complementary data sources to empirically examine: (1) the influence of housing assets on an individual"s willingness-to-sell (WTS) their dwelling for care purposes, and (2) the willingness to take out a reverse mortgage contract loan in the event of old-age dependency. The paper"s findings suggest that homeowners" WTS in old age is unaffected by their income or housing assets and is, rather, determined by socio-environmental housing characteristics and the individual"s health and personal needs. Conversely, the study finds that the uptake of home reversion loans is largely dependent on income or education, but not on a household"s housing assets.

The determinants of contractual choice for private involvement in infrastructure projects in the United States

Reliance on private partners to help provide infrastructure investment and service delivery is increasing in the United States. Numerous studies have examined the determinants of the degree of private participation in infrastructure projects as governed by contract type. We depart from this simple public/private dichotomy by examining a rich set of contractual arrangements. We utilize both municipal and state-level data on 472 projects of various types completed between 1985 and 2008. Our estimates indicate that infrastructure characteristics, particularly those that reflect stand alone versus network characteristics, are key factors influencing the extent of private participation. Fiscal variables, such as a jurisdiction’s relative debt level, and basic controls, such as population and locality of government, increase the degree of private participation, while a greater tax burden reduces private participation.

Recovery Risk and Labor Costs in Public-Private Partnerships : Contractual Choice in the US Water industry

We use an ordered logistic model to empirically examine the factors that explain varying degrees of private involvement in the U.S. water sector through public-private partnerships. Our estimates suggest that a variety of factors help explain greater private participation in this sector. We find that the risk to private participants regarding cost recovery is an important driver of private participation. The relative cost of labor is also a key factor in determining the degree of private involvement in the contract choice. When public wages are high relative to private wages, private participation is viewed as a source of cost savings. We thus find two main drivers of greater private involvement: one encouraging private participation by reducing risk, and another encouraging government to seek out private participation in lowering costs.

¿El finiquito tiene siempre valor extintivo de la relación labotral?

ENGLISH: It should be distinguished from the socalled 'balance liquidation and termination' three aspects are mixed sometimes creating confusion: The first, referred to repay outstanding accruals, which has a liquidation value, the second consisting of phrases expressing an added discontinuance of the contract value, which joined in the employment relationship with the worker to the employer, and the third, the waiver claim on the grounds that the debts were paid. The signing of cancellation of outstanding accounts or 'liquidation balance' is not the breaking of the employment relationship, but it might be well if you incorporate the unilateral will not flawed and unequivocally expressed the worker. ESPAÑOL: Se deben distinguir de la denominada"liquidación de saldo y finiquito" tres aspectos que en ocasiones aparecen mezclados creando confusión: El primero, referido a saldar devengos pendientes, lo cual tiene un valor liquidatorio; el segundo, consistente en frases añadidas que expresan un valor extintivo del contrato, el cual unía en la relación laboral al empleador con el trabajador, y el tercero, la renuncia a reclamar por considerar que se han satisfecho las deudas. La firma del documento de cancelación de cuentas pendientes o"liquidación de saldo", no supone la ruptura de la relación laboral, pero podría ser así si incorpora la voluntad unilateral no viciada y expresada inequívocamente del trabajador. CATALÀ: Cal distingir de l'anomenada 'liquidació de saldo i quitança' tres aspectes que de vegades apareixen barrejats creant confusió: El primer, referit a saldar meritacions pendents, la qual cosa té un valor liquidador, el segon, consistent en frases afegides que expressen un valor extintiu del contracte, el qual unia en la relació laboral l'ocupador amb el treballador, i el tercer, la renúncia a reclamar per considerar que s'han satisfet els deutes. La signatura del document de cancel·lació de comptes pendents o 'liquidació de saldo', no suposa la ruptura de la relació laboral, però podria ser així si incorpora la voluntat unilateral no viciada i expressada inequívocament del treballador.

Exploring the link between flexible working and organizational performance

The expansion of flexible work experienced since the 1980s in developed economies is consistent with a more generic trend towards organizational flexibility, which many authors see as essential in order to compete in the dynamic global environment (Volberda, 1998). From this point of view, the changing demands of the environment have forced organizations to seek the ability to adapt rapidly and effectively as a means to be successful or even to survive. In the quest for flexibility, every area of the organization has been scrutinized in order to render it as ¿agile¿ as possible. In the human resources arena, this analysis has led to the definition of diverse ¿flexible working practices¿ (FWP) that describe a wide range of employment practices, which differ from the traditional full-time job with a fixed salary and a permanent contract. These practices have been described using other terms, such as ¿alternative¿ (Polivka, 1996; Powell & Mainiero, 1999), ¿non-standard¿ (Kalleberg, 2000), or ¿atypical¿ (De Grip, Hoevenberg, &m Willems, 1997), which coincide in denoting their divergence from the most traditional forms of employment. This article will show that quite different practices have been embraced by the common term ¿flexible working practices.¿ Subsequently, the results of empirical research regarding the implications for organizational performance of a number of flexible practices will be commented on.

Prescription in the proposal for a common european sales law

The rules on prescription in Part VIII, Chapter 18, of the Proposal for a Common European Sales Law (CESL) follow the provisions of the Principles of European Contract Law (PECL) and the Draft Common Frame of Reference (DCFR), which, in general, have deserved favourable comments. Yet, a number of rules contained in those texts have been omitted. It is necessary to ascertain whether the CESL rules only apply to provisions on rights and claims resulting from sales or related services contracts, or whether they are also applicable to any other contractual right or claim and also to rights or claims of non-contractual origin. One of the most problematic issues concerns general prescription periods: firstly, because there are two general periods, a short one and a long one, without any specification about the claims or rights covered by each one of them; secondly, because neither period is suitable in case of non-conformity. There are also some interpretation problems due to missing, ambiguous or defective definitions. The systematic approach demands clarification too.

Anoxic-ischemic encephalopathy: association of predictors with the vital and functional prognosis of patients

Improve the prediction of the vital and functional prognosis of comatose patients suffering from anoxic-ischemic encephalopathy after successful resuscitation from a cardiac arrest, addmitted to the Intensive Care and Coronary Units of the Dr. Josep Trueta Hospital, based on clinical, neurophysiological and biochemical results.The results of these different tests, revised and combined all together, will improve the prediction of the patients' prognosis, leading to an accurate vital and functional outcome, as they only have been studied separately so far. Anoxia is the third most frequent cause of coma, and the most common cause of post-anoxic coma in adults is the cardiac arrest. The incidence of hypoxic-ischemic brain injury is not well known, but it is certain that cardiac arrest, the most common cause of post-anoxic coma, affects approximately 24000 to 50000 Spanish people every year, most of them occuring out of the hospital. A cardiac arrest is the abrupt cessation of normal circulation of the blood due to failure of the heart to contract effectively during systole. It is different from, but may be caused by, a heart attack or myocardial infarction, where blood flow to the still-beating heart is interrupted. Arrested blood circulation prevents delivery of oxygen to all parts of the body. Cerebral hypoxia, or lack of oxygen supply to the brain, causes victims to lose consciousness and to stop normal breathing, although agonal breathing may still occur. Brain injury is likely if cardiac arrest is untreated for more than five minutes

Public and Private Production in a Mixed Delivery System: Regulation, Competition and Costs

Academics and policy makers are increasingly shifting the debate concerning the best form of public service provision beyond the traditional dilemma between pure public and pure private delivery modes, because, among other reasons, there is a growing body of evidence that casts doubt on the existence of systematic cost savings from privatization, while any competition seems to be eroded over time. In this paper we compare the relative merits of public and private delivery within a mixed delivery system. We study the role played by ownership, transaction costs, and competition on local public service delivery within the same jurisdiction. Using a stochastic cost frontier, we analyze the public-private urban bus system in the Barcelona Metropolitan Area. Our results suggest that private firms tendering the service have higher delivery costs than those incurred by the public firm, especially when transaction costs are taken into account. Tenders, therefore, do not help to reduce delivery costs. Our results suggest that under a mixed delivery scheme, which permits the co-existence of public and private production, the metropolitan government and the regulator can use private delivery to contain costs in the public firm and, at the same time, benefit from the greater flexibility of private firms for dealing with events not provided for under contract.

L'activitat quotidiana d'un mestre de cases medieval. Bernat Gual, 1405-1453

[cat] En aquest article es repassa l'activitat del mestre de cases Bernat Gual, des que va signar un contracte d'aprenentatge amb el mestre d'aixa Domingo Ferrer, l'any 1405, fi ns que desapareix de la documentació municipal, l'any 1453. En aquests quaranta-vuit anys d'activitat, Gual es va fer càrrec de grans obres (com ara l'assut de Xerta-Tivenys), però també d'una gran quantitat de petits treballs, sempre al servei del Consell de la Ciutat. La seva tasca s'emmarca en el context arquitectònic de la Tortosa medieval, determinat per la catedral i el palau del bisbe, però també pel Pont de Barques, una important infraestructura de fusta que era conservada per artesans especialitzats.

La distribución regional de la temporalidad en españa. Análisis de sus determinantes

Este trabajo aporta evidencia empírica acerca de los factores determinantes de las diferencias en la probabilidad de acceder a un contrato indefinido entre las distintas regiones españolas. Para ello, y de forma novedosa en este contexto, se aplica una extensión de la metodología tradicional de Oaxaca-Blinder al caso de modelos no lineales. Los resultados apuntan a la coexistencia de distintas “culturas de la temporalidad” en España, al existir discrepancias regionales significativas en el empleo del trabajo temporal como medida de flexibilización laboral. Estas diferencias tienen incluso más capacidad explicativa que las discrepancias en las características de la mano de obra y de las empresas instaladas en cada región. Estos resultados cuestionan las medidas adoptadas para combatir el problema de la precariedad laboral en España, al no haber considerado las especificidades regionales.

Reparar y sustituir cosas en la compraventa : evolución y últimas tendencias

International texts recognise the buyer's right to the repair or replacement if the goods do not conform with the contract, and at the same time, establish exceptions to their application and certain rules of protection for the seller (Art. 46 CISG, Art. 7.2.3 UNIDROIT Principles of International Commercial Contracts, Art.9:102 PECL and Arts. 4:202 y 4:204 (1) PEL S). This approach is a result of a compromise between civil law systems and the common law and it has been widely extended to the regulation of consumer sales over the last decade (Art. 3.3 of the Directive 1999/44/CE, Art. III.-3:302 DCFR, Art. 26 of the proposal for a Directive on Consumer Rights). These norms regulate the different ways of requiring the fulfilment of a contractual obligation from a new paradigm which has little to do with a need to protect the weak consumer which governed the origins of consumer policy in the European Community. Now the idea of the consumer who shall behave economically efficiently prevails in Art. 3.3 of the Directive 1999/44/CE, a norm which is clearly influenced by the international texts and whose transposing into the national legislation of Member States has created important problems for traditional dogmas. In this sense there are still some unclear issues, such as the possibility of replacing in sales of goods of specific nature or second-hand goods, some aspects on the exercise of repair and replacement, and, even, their use as primary remedies rather than a reduction in price or a rescission of the contract. With regard to this, in England the possibility of offering the consumer free choice between these measures if the goods do not conform with the contract has been raised. This is far from the principle of pacta sunt servanda and is clearly contrary to the economic approach of the proposal for a Directive on Consumer Rights. Up to now Spain has limited itself to implementing Art. 3.3 Directive 1999/44/CE into its legal system in almost literal terms and the case law on the issue has completely turned out to be insufficient. By contrast with Germany, the Spanish legislator has not extended the application of the rules of repair and replacement of Directive 1999/44/CE to nonconsumer sales, even though two draft bill proposals along these lines presented by the General Commission for Codifying (“Comisión General de Codificación”), the last one being in January, 2009

Comentario a la STS de 16 de mayo de 2012: Condiciones potestativas, incumplimiento contractual y cláusula resolutoria expresa

Resumen y objeto: Los socios de una Sociedad, en virtud del principio de autonomía de la voluntad, pueden definir a través de una cláusula expresa inserta en un contrato entre socios el tipo de incumplimiento que da lugar a la resolución de las compraventas de participaciones de esa sociedad. Dicha cláusula no puede considerarse como una condición puramente potestativa, dependiente de la exclusiva voluntad del deudor, puesto que está ligada al hecho del incumplimiento.

An overview of the proposal for a new Package Travel Directive

After an endless wait, a proposal for a new Package Travel Directive repealing Directive 90/314/EEC1 was presented on 9 July 2013 (hereafter, the Proposal).This article is aimed at providing an overall view of the Proposal. I will address the following issues: The concept of traveller; online package holidays and assisted travel arrangements; information requirements; a new particular right of withdrawal for package travel; other changes to the contract before the start of the package; performance of the Package; and insolvency protection. Some early concluding remarks are made as to when a future Package Travel Directive might take place at some future date