The policy relevance of wear emissions from road transport, now and in the future : an international workshop report and consensus statement

Road transport emissions are a major contributor to ambient particulate matter concentrations and have been associated with adverse health effects. Therefore, these emissions are targeted through increasingly stringent European emission standards. These policies succeed in reducing exhaust emissions, but do not address "nonexhaust" emissions from brake wear, tire wear, road wear, and suspension in air of road dust. Is this a problem? To what extent do nonexhaust emissions contribute to ambient concentrations of PM10 or PM2.5? In the near future, wear emissions may dominate the remaining traffic-related PM10 emissions in Europe, mostly due to the steep decrease in PM exhaust emissions. This underlines the need to determine the relevance of the wear emissions as a contribution to the existing ambient PM concentrations, and the need to assess the health risks related to wear particles, which has not yet received much attention. During a workshop in 2011, available knowledge was reported and evaluated so as to draw conclusions on the relevance of traffic-related wear emissions for air quality policy development. On the basis of available evidence, which is briefly presented in this paper, it was concluded that nonexhaust emissions and in particular suspension in air of road dust are major contributors to exceedances at street locations of the PM10 air quality standards in various European cities. Furthermore, wear-related PM emissions that contain high concentrations of metals may (despite their limited contribution to the mass of nonexhaust emissions) cause significant health risks for the population, especially those living near intensely trafficked locations. To quantify the existing health risks, targeted research is required on wear emissions, their dispersion in urban areas, population exposure, and its effects on health. Such information will be crucial for environmental policymakers as an input for discussions on the need to develop control strategies.

2008 Road Use Tax Fund-Primary Road Fund, September 22, 2009

Pursuant to Iowa Code Section 307.46(2), the following report is submitted on the use of reversions. The Iowa Department of Transportation spent $500,000 of the Fiscal Year 2008 Road Use Tax Fund/Primary Road Fund budget reversion in Fiscal Year 2009 for storage area network software.

Federal Highway Administration Finding of No Significant Impact Collins Road NE (Highway 100) Cedar Rapids, Linn County, Iowa, December 17, 2009

The proposed project consists of improving approximately 2.6 miles of Collins Road NE (Highway 100) in Cedar Rapids, Iowa. The project extends from the intersection of Center Point Road to approximately 750 feet east of its intersection with 1st Avenue.

Archaeology on the Road, July 2010

Not only are we excited that Team Archaeology is back for our third ride, we are energized to be part of a “Human and Natural History” partnership that allows us expanded opportunities to share the story of Iowa’s amazing past. Once again there will be archaeologists along for the ride, as well as at Expo and this year at roadside locations Day One, Five and Six. Don’t hesitate to ask about the history of the first people to travel this landscape as well as the stories of each generation that has contributed to what we know of ourselves today. We will also feature information about the landscape and natural resources of Iowa you will encounter along the route through our partnering colleagues specializing in geology, hydrology, and other earth sciences. Enjoy using this booklet as your guide to the week’s activities and please help yourself to free materials from our outreach booth about our shared past and the natural world we depend on. Ride smart, be safe, and when you get home, be sure to tell your friends and neighbors about Iowa archaeology!

Essays in general equilibrium asset pricing

ABSTRACT : Research in empirical asset pricing has pointed out several anomalies both in the cross section and time series of asset prices, as well as in investors' portfolio choice. This dissertation aims to discover the forces driving some of these "puzzling" asset pricing dynamics and portfolio decisions observed in the financial market. Through the dissertation I construct and study dynamic general equilibrium models of heterogeneous investors in the presence of frictions and evaluate quantitatively their implications for financial-market asset prices and portfolio choice. I also explore the potential roots of puzzles in international finance. Chapter 1 shows that, by introducing jointly endogenous no-default type of borrowing constraints and heterogeneous beliefs in a dynamic general-equilibrium economy, many empirical features of stock return volatility can be reproduced. While most of the research on stock return volatility is empirical, this paper provides a theoretical framework that is able to reproduce simultaneously the cross section and time series stylized facts concerning stock returns and their volatility. In contrast to the existing theoretical literature related to stock return volatility, I don't impose persistence or regimes in any of the exogenous state variables or in preferences. Volatility clustering, asymmetry in the stock return-volatility relationship, and pricing of multi-factor volatility components in the cross section all arise endogenously as a consequence of the feedback between the binding of no-default constraints and heterogeneous beliefs. Chapters 2 and 3 explore the implications of differences of opinion across investors in different countries for international asset pricing anomalies. Chapter 2 demonstrates that several international finance "puzzles" can be reproduced by a single risk factor which captures heterogeneous beliefs across international investors. These puzzles include: (i) home equity preference; (ii) the dependence of firm returns on local and foreign factors; (iii) the co-movement of returns and international capital flows; and (iv) abnormal returns around foreign firm cross-listing events in the local market. These are reproduced in a setup with symmetric information and in a perfectly integrated world with multiple countries and independent processes producing the same good. Chapter 3 shows that by extending this framework to multiple goods and correlated production processes; the "forward premium puzzle" arises naturally as a compensation for the heterogeneous expectations about the depreciation of the exchange rate held by international investors. Chapters 2 and 3 propose differences of opinion across international investors as the potential resolution of several international finance `puzzles'. In a globalized world where both capital and information flow freely across countries, this explanation seems more appealing than existing asymmetric information or segmented markets theories aiming to explain international finance puzzles.

Archaeology on the Road Again, July 2009

Team Archaeology is back for a second year to share the history of Iowa with the riders and supporters of RAGBRAI.

Access by Capacity and Peak-Load Pricing

Several European telecommunications regulatory agencies have recently introduced a fixed capacity charge (flat rate) to regulate access to the incumbent's network. The purpose of this paper is to show that the optimal capacity charge and the optimal access-minute charge analysed by Armstrong, Doyle, and Vickers (1996) have a similar structure and imply the same payment for the entrant. I extend the analysis tothe case where there is a competitor with market power. In this case, the optimalcapacity charge should be modified to avoid that the entrant cream-skims the market,fixing a longer or a shorter peak period than the optimal. Finally, I consider a multiproduct setting, where the effect of the product differentiation is exacerbated.

Archaeology on the Road, July 2011

Not only are we excited that Team Archaeology is back for our third ride, we are energized to be part of a “Human and Natural History” partnership that allows us expanded opportunities to share the story of Iowa’s amazing past. Once again there will be archaeologists along for the ride, as well as at Expo and this year at roadside locations Day One, Five and Six. Don’t hesitate to ask about the history of the first people to travel this landscape as well as the stories of each generation that has contributed to what we know of ourselves today. We will also feature information about the landscape and natural resources of Iowa you will encounter along the route through our partnering colleagues specializing in geology, hydrology, and other earth sciences. Enjoy using this booklet as your guide to the week’s activities and please help yourself to free materials from our outreach booth about our shared past and the natural world we depend on. Ride smart, be safe, and when you get home, be sure to tell your friends and neighbors about Iowa archaeology!

Tree and Brush Control For County Road Right-of-Way, Ocotober 2002

This manual summarizes the roadside tree and brush control methods used by all of Iowa's 99 counties. It is based on interviews conducted in Spring 2002 with county engineers, roadside managers and others. The target audience of this manual is the novice county engineer or roadside manager. Iowa law is nearly silent on roadside tree and brush control, so individual counties have been left to decide on the level of control they want to achieve and maintain. Different solutions have been developed but the goal of every county remains the same: to provide safe roads for the traveling public. Counties in eastern and southern Iowa appear to face the greatest brush control challenge. Most control efforts can be divided into two categories: mechanical and chemical. Mechanical control includes cutting tools and supporting equipment. A chain saw is the most widely used cutting tool. Tractor mounted boom mowers and brush cutters are used to prune miles of brush but have significant safety and aesthetic limitations and boom mowers are easily broken by inexperienced operators. The advent of tree shears and hydraulic thumbs offer unprecedented versatility. Bulldozers are often considered a method of last resort since they reduce large areas to bare ground. Any chipper that violently grabs brush should not be used. Chemical control is the application of herbicide to different parts of a plant: foliar spray is applied to leaves; basal bark spray is applied to the tree trunk; a cut stump treatment is applied to the cambium ring of a cut surface. There is reluctance by many to apply herbicide into the air due to drift concerns. One-third of Iowa counties do not use foliar spray. By contrast, several accepted control methods are directed toward the ground. Freshly cut stumps should be treated to prevent resprouting. Basal bark spray is highly effective in sensitive areas such as near houses. Interest in chemical control is slowly increasing as herbicides and application methods are refined. Fall burning, a third, distinctly separate technique is underused as a brush control method and can be effective if timed correctly. In all, control methods tend to reflect agricultural patterns in a county. The use of chain saws and foliar sprays tends to increase in counties where row crops predominate, and boom mowing tends to increase in counties where grassland predominates. For counties with light to moderate roadside brush, rotational maintenance is the key to effective control. The most comprehensive approach to control is to implement an integrated roadside vegetation management (IRVM) program. An IRVM program is usually directed by a Roadside Manager whose duties may be shared with another position. Funding for control programs comes from the Rural Services Basic portion of a county's budget. The average annual county brush control budget is about $76,000. That figure is thought not to include shared expenses such as fuel and buildings. Start up costs for an IRVM program are less if an existing control program is converted. In addition, IRVM budgets from three different northeastern Iowa counties are offered for comparison in this manual. The manual also includes a chapter on temporary traffic control in rural work zones, a summary of the Iowa Code as it relates to brush control, and rules on avoiding seasonal disturbance of the endangered Indiana bat. Appendices summarize survey and forest cover data, an equipment inventory, sample forms for record keeping, a sample brush control policy, a few legal opinions, a literature search, and a glossary.

Impacts of Rural Development on Iowa’s Secondary Road Systems, TR-548, September 2010

Today, many of Iowa’s counties are experiencing an increase in rural development. Two specific types of development were focused on for this research: rural residential subdivisions and livestock production operations. Rural residential developments are primarily year round single-family homes, though some are vacation homes. Livestock production in Iowa includes hog, beef, and poultry facilities. These two types of rural development, while obviously very different in nature and incompatible with each other, share one important characteristic: They each generate substantial amounts of new traffic for Iowa’s extensive secondary road system. This research brings together economic, spatial, and legal analysis methods to address the impacts of rural development on the secondary road system and provide county engineers, county supervisors, and state legislators with guidance in addressing the challenges associated with this development.