Improving our superannuation regime : a post-Henry review look at superannuation taxation, raising superannuation balances and longevity insurance

This paper examines what, if any changes should be made regarding certain aspects of the superannuation system. Specifically, it looks at possible changes to the superannuation tax regime, measures intended at increasing superannuation balances, as well as policies aimed at improving the price and availability of retirement income streams. The recommendations of the final report of the Henry Review on these issues are also critically evaluated. The paper finds that a greater targeting of superannuation tax concessions towards middle and lower income earners would make the system more equitable and achieve other desirable goals such as increasing voluntary savings. Furthermore, the available evidence suggests that the current mandatory contributions rate of 9% is adequate, and a higher contributions rate is likely to have more costs than benefits. On the issue of superannuation income streams, the article finds that whilst taxpayers should continue to be allowed to take their superannuation as a lump sum, policies should be implemented to make lifetime annuities more readily available and better value for money. The Henry Review's recommendations on these issues, with some exceptions, are for the most part sound and based on logic.

Changing the guard? China and the nuclear nonproliferation regime

China's profile in the nuclear nonproliferation regime is changing at a crucial time. The regime is under considerable internal and external strain as a result of eroding international support and trends in vertical and horizontal nuclear proliferation. While China's nonproliferation agenda and approach differ in some respects from those of other key actors, the gap separating China from the established drivers of efforts to address horizontal nuclear proliferation in terms of the objectives, institutions, and approach of the nonproliferation regime is diminishing, and there is considerable potential for China to contribute to the capacity of the regime to adapt to changing requirements. The Asia-Pacific region features both as the area of greatest nonproliferation concern to China and as the area where proliferation concerns are most likely to spur the further qualitative development of Chinese nonproliferation policy.

Men in social work : challenging or reproducing an unequal gender regime?

This article is concerned with the reproduction of gender inequality in social work and the extent to which the presence of men in the profession challenges discriminatory processes and occupational segregation. Although it is argued that men need to take more responsibility for caring roles in professions like social work, many of the rationales for encouraging more men to enter social work are unlikely to support alternative masculinities that will challenge gender inequalities. Only a profeminist commitment informing antisexist practices will enable men to address gender inequality in social work.

Exchange rate regime choice : some determinants and consequences

This thesis establishes that exchange rate regime choice is persistent for low-income and high-income countries. It also confirms the crucial role of capital account openness, financial development and product diversification as possible determinants of regime choice. Moreover, the thesis provides strong evidence that exchange rate regime influences fiscal discipline directly and through interaction with trade openness.

Regime dependent causality : equity and credit markets

We apply a Markov switching model to investigate the possibility of an asymmetric causal relationship between the volatility process inferred from the iTraxx CDS options market and the implied volatility from the stock index options market. We find strong evidence that the stock market leads the CDS market and the effect of the implied stock market volatility is more significant during the volatile regime. We also find that a large jump in the stock return, up or down, may indeed be followed by a regime shift.

Regime change in Australian maternity hospitals

Contemporary attempts to ‘organise’ risk and manage uncertainty are remaking many ‘industrial-era’ institutions – including maternity hospitals. Health policies are encouraging a shift away from hierarchical, medically dominated structures towards new governance systems and ‘women-centred’ care, often led by midwives. To understand the resulting contestation, in this article we argue for a wider conceptual frame than a focus on neo-liberal state regulation of the professions. We utilise theories of the ‘second modernity’, in particular those concerning socio-cultural changes associated with shifts in risk regimes, to interpret findings from qualitative research studies undertaken in Australian maternity hospitals. Whereas analysis confined to macro or institutional levels emphasises stability and hegemony, we demonstrate that when cultural and interactional levels are examined, considerable fluidity and uncertainty in the identification and negotiation of risk is evident, resulting in new work practices with inevitable shifts in professional identities and allegiances.

Dynamic regime marginal structural mean models for estimation of optimal dynamic treatment regimes, Part I: main content

Dynamic treatment regimes are set rules for sequential decision making based on patient covariate history. Observational studies are well suited for the investigation of the effects of dynamic treatment regimes because of the variability in treatment decisions found in them. This variability exists because different physicians make different decisions in the face of similar patient histories. In this article we describe an approach to estimate the optimal dynamic treatment regime among a set of enforceable regimes. This set is comprised by regimes defined by simple rules based on a subset of past information. The regimes in the set are indexed by a Euclidean vector. The optimal regime is the one that maximizes the expected counterfactual utility over all regimes in the set. We discuss assumptions under which it is possible to identify the optimal regime from observational longitudinal data. Murphy et al. (2001) developed efficient augmented inverse probability weighted estimators of the expected utility of one fixed regime. Our methods are based on an extension of the marginal structural mean model of Robins (1998, 1999) which incorporate the estimation ideas of Murphy et al. (2001). Our models, which we call dynamic regime marginal structural mean models, are specially suitable for estimating the optimal treatment regime in a moderately small class of enforceable regimes of interest. We consider both parametric and semiparametric dynamic regime marginal structural models. We discuss locally efficient, double-robust estimation of the model parameters and of the index of the optimal treatment regime in the set. In a companion paper in this issue of the journal we provide proofs of the main results.