Transitional effects of a pension system change in Spain

This paper studies the output effects, transition costs and the change in pension benefits derived from the substitution of the current unfunded pension system by a fully funded pension system financed through mandatory savings.These effects are estimated by using reduced versions of the neoclassical and endogenous growth frameworks. Because of the greater capital accumulation during the transition phase, final output increases by 23,6% (neoclassicalframework); and a 24,5-31,5% (endogenous growth framework). The initial revenue loss for the government would represent a 4,8% of the GDP, raising very slowly during the transition period. Given the new growth rates, rates of return ofphysical capital, and financial intermediation costs, we have that the capitalization pension benefits obtained by all 30-contribution-year worker would be more than twice than those that guarantee the financial sustainability of thepublic pension system

Three essays in behavioral and experimental economics

The present PhD dissertation consists of three papers, organized in chapters, in the field of behavioral economics. This discipline studies economic behavior of individuals subject to limitations, such as bounded self-interest and bounded willpower. The behavior studied in the present thesis ranges from the complex decision to register as an organ donor, decision¬making in the presence of uncertainty and the decision to give money to a charitable organization. The first chapter aims at testing the effectiveness of an active-decision (AD) mechanism on the decision to become an organ donor in Switzerland, using field experiments. We found that stimulating participants' reflection on the topic of organ donation had a negative effect on the decision to become an organ donor. Moreover, a non-binding commitment nudge reduces putting off the decision, but does not lead to donation rates higher than in the control group. The results suggest that AD may be far more limited than previously thought and raise doubts about the efficacy of engaging potential donors to reflect on the topic of organ donation. Beyond carrying for others, behavioral economics also recognizes that individuals do not evaluate outcomes in absolute terms but rather by comparing them to some reference levels, called reference points. Above the reference points, economic outcomes are perceived as gains, while below these levels the same outcomes are felt as losses. The last two chapters analyze the importance of reference points in the evaluation of economic outcomes. Using a laboratory experiment where subjects played two consecutive lotteries, Chapter 2 studies the speed of adjustment of the reference point. We find that varying the probability of winning the first lottery has no effect on subjects' risk behavior regarding the second lottery. This result indicates a very fast adjustment of the reference point to the latest information. Chapter 3 investigates whether reference points are relevant for charitable preferences. Using actual donation decisions of participants in a laboratory experiment, the results suggest that reference points are not crucial for shaping charitable giving. -- Cette thèse de doctorat consiste en trois articles, organisés en chapitres, dans le domaine de l'économie comportementale. Cette discipline étudie le comportement d'agents économiques sujets à des limitations, telles qu'un égoïsme limité et une volonté limitée. Le comportement étudié dans cette thèse va de la décision complexe de devenir donneur d'organes, la prise de décision en présence d'incertitude à la décision de donner de l'argent à une oeuvre caritative. Le premier chapitre vise à tester l'efficacité d'un mécanisme de « décision active » (active decision, AD) sur la décision de devenir donneur d'organes en Suisse, et ce en recourant à deux expériences hors-laboratoire. Les résultats montrent que stimuler la réflexion des participants sur le don d'organes a un effet négatif sur la décision de devenir donneur. De plus, un mécanisme qui encourage les participants à prendre une décision sur le champ réduit la tendance à procrastiner, mais ne mène pas à un taux de donneurs plus élevé par rapport à un groupe de contrôle. Les résultats suggèrent que le mécanisme AD est bien plus limité que ce qui a été supposé jusqu'à maintenant. De plus, ils suscitent le doute quant à l'efficacité de stimuler la réflexion de potentiels donneurs sur le sujet du don d'organes. En plus de se soucier des autres, l'économie comportementale admet également que les individus n'évaluent pas les résultats de façon absolue, mais en comparant ceux-ci à des niveaux de références, souvent appelés points de référence. Au-dessus de ces points de référence, les résultats sont perçus en tant que gains, tandis qu'en-dessous ces mêmes résultats sont considérés comme des pertes. Les deux derniers chapitres analysent l'importance des points de référence dans diverses situations. A l'aide d'une expérience en laboratoire dans laquelle les participants participent à deux loteries consécutives, le chapitre 2 étudie la vitesse d'ajustement du point de référence. Le résultat montre que varier la probabilité de gagner la première loterie n'a aucun effet sur le comportement en matière de risques concernant la deuxième loterie. Cela indique un ajustement très rapide du point de référence. Le chapitre 3 vise à déterminer si les points de référence ont un rôle majeur concernant les préférences caritatives. Les données relatives aux décisions de don des participants d'une expérience en laboratoire montrent que les points de référence n'influencent pas significativement le don caritatif.

Prediction of the economic cost of individual long-term care in the Spanish population

Pensions together with savings and investments during active life are key elements of retirement planning. Motivation for personal choices about the standard of living, bequest and the replacement ratio of pension with respect to last salary income must be considered. This research contributes to the financial planning by helping to quantify long-term care economic needs. We estimate life expectancy from retirement age onwards. The economic cost of care per unit of service is linked to the expected time of needed care and the intensity of required services. The expected individual cost of long-term care from an onset of dependence is estimated separately for men and women. Assumptions on the mortality of the dependent people compared to the general population are introduced. Parameters defining eligibility for various forms of coverage by the universal public social care of the welfare system are addressed. The impact of the intensity of social services on individual predictions is assessed, and a partial coverage by standard private insurance products is also explored. Data were collected by the Spanish Institute of Statistics in two surveys conducted on the general Spanish population in 1999 and in 2008. Official mortality records and life table trends were used to create realistic scenarios for longevity. We find empirical evidence that the public long-term care system in Spain effectively mitigates the risk of incurring huge lifetime costs. We also find that the most vulnerable categories are citizens with moderate disabilities that do not qualify to obtain public social care support. In the Spanish case, the trends between 1999 and 2008 need to be further explored.

The forced adoption of a fast-track appraisal process for a breast cancer treatment in UK

Trastuzumab (Herceptin ®, Roche) is approved in UK for the treatment of the metastatic breast cancer since 2001. As of 2005, concomitantly with the publication of 3 studies that showed it produces a 50% reduction of the recurrence rates of breast cancer, trastuzumab started to be prescribed in the earlt adjuvant treatrnent of this disease. Und June 2006, trastuzumab did not have both: 1) regulatory approval and 2) NICE [National Institute for Health and Clinical Excellence] recommendation for the use in early stages of breast cancer. During the period until June 2006, the trastuzumab use in those patients was not reimbursed and because the cost of trastuzumab is equal with the yearly UK average income, most of patients could not self fund their treatrnent. Before the publication of the final NICE guidance, the new data of trastuzumab in early breast cancer raised enormous patient and professional interest and expectations. A great volume of public and professional pressure was generated to transcend a system by which Primary Care Trusts can reimburse a treatment only after a formal guidance was issued. This paper draw on a case study depicting and analyzing the process by which regulatory approval and NICE recommendations were achieved in a record time and how trastuzumab became a standard treatment on early adjuvant breast cancer. According to the data we gathered in this work we were witnessing one of the fastest processes of adoption of a health care technology since the creation of NICE, in 1999. This study addresses the following research question: How and why does the adoption pattern of trastuzumab differ from the rational decision-making model of the reimbursement process in UK? [Author, p. 4]

Ei-henkilöityvän organisatorisen luottamuksen merkitys YT-neuvotteluja läpikäyvän kuntaomisteisen ICT-palveluyhtiön toiminnassa

Tutkimuksessa tarkasteltiin mikä on ei-henkilöityvän organisatorisen luottamuksen merkitys yrityksen toiminnassa ja voidaanko ei-henkilöityvää organisatorista luottamusta jälleenrakentaa ja kehittää yrityksessä, joka parhaillaan käy YT-neuvotteluita. Tutkimusongelmaa lähestyttiin ei-henkilöityvän organisatorisen luottamuksen viitekehyksen kautta. Tutkimus toteutettiin kvalitatiivisena tapaustutkimuksena kuntaomisteisessa ICT-palveluyhtiössä. Kvalitatiivinen tutkimusaineisto kerättiin puolistrukturoidulla teemahaastattelukyselylomakkeella ja vastaukset analysoitiin sisällönanalyysimenetelmällä. Tutkimuksessa saatujen tulosten perusteella yrityksen henkilöstön kokemalla ei-henkilöityvällä organisatorisella luottamuksella yritystä kohtaan on yhteys työntekijöiden työmotivaation, työtehokkuuteen ja sitoutumiseen ja vaikutus yrityksen toimintaan. Luottamuksen jälleenrakentaminen ja kehittäminen organisaatiossa edellyttävät toimenpiteitä yrityksen johdolta.

Asunto- ja kiinteistörahastovertailu

Tämä kandityö vertailee asunto- ja kiinteistörahastostrategioita Suomessa. Kyseiset rahastot ovat melko uusi sijoituskohde Suomessa ja viime vuosina on perustettu monia uusia asunto- tai kiinteistörahastoja. Matalat korot, pula pienistä vuokra-asunnoista, pienten asuntojen hintojennousu sekä tärkeimpänä kiinteistölakimuutokset ovat saaneet sijoitusyhtiöt innostumaan asunto- ja kiinteistörahastojen perustamisesta. Myös asuntojen tarjoama yleensä hyvä inflaatiosuoja on tehnyt asunnoista houkuttelevia kohteita sijoittaa. Tässä tutkimuksessa vertaillaan viittä eri strategiaa ja tarkoituksena on selvittää, ovatko jokin tai jotkut asunto- tai kiinteistörahastot tuottaneet selvästi muita paremmin tai heikommin.

Recueil de pièces sur l'histoire du Canada, dédié à l'abbé Le Pelletier, par l'abbé BELMONT.

Contient : Histoire du Canada (1608-1700) ; « Histoire de l'eau de vie au Canada » ; « Diverses exhortations aux sauvages yvrognes » ; « Les trois principales raisons pour lesquelles l'évesque de Québec, Mgr. de Laval, s'est réservé le péché qui se commet dans la traite des boissons aux sauvages du Canada » ; « Deux sermons contre l'yvrognerie » des sauvages du Canada ; « Oraison funèbre de... Louis de Buade, comte de Frontenac,... gouverneur... dans toute l'Amérique septentrionale, prononcé,... le 19 déc. 1698, par le R. P. Olivier Goyer,... supérieur de tous les Récollets de la Mission du Canada » ; « Entretien charitable d'un missionnaire et d'un vendeur d'eau-de-vie » ; « Récit de ce qui s'est passé au voyage que Mr de Courcelles, gouverneur de la Nouvelle-France, a fait au lac Ontario, ou des Irocquois, » par l'abbé Dollier

Understanding the financial status of a group of high performance athletes

With the 2010 Vancouver Winter Olympic Games quickly approaching, there has been a heightened interest in the performance of Canadian athletes at international competitions (Duffy, 2007; Fidlin, 2005; Longley, 2006). Two significant documents outline Canada's goal to become the number one sporting nation at the 2010 Olympic Games, and improve Canada's performance at the 2008 Olympic Games: Own the Podium and Road to Excellence (Priestner Allinger & Allinger, 2004; Road to Excellence, 2006). These two documents represent heightened interest in the performance of our elite athletes, in conjunction with Canada's hosting status of the Vancouver 2010 Winter Olympic Games. The requirements to train and compete at the international level have become more demanding both in terms of financial resources and time commitment. The need to financially assist athletes with their training and competition costs has been an important topic of debate over the past decades (Beamish & Borowy, 1987; Gatehouse, 2004; Macintosh, 1996; Munro, 1970; Owens, 2004). Two sources of fiinding for high performance athletes in Canada are the Athlete Assistance Program (AAP) provided by the Federal Government and the Canadian Olympic Excellence Fund provided by the Canadian Olympic Committee. The importance of these fiinds for athletes has been discussed in various forums (Ekos, 1992, 1997, 2005; Priestner Allinger & Allinger, 2004; Thibault «& Babiak, 2005). However, alternative sources of funds for high performance athletes have never been the object of research. As such the purpose of this study was to describe a group of athlete applicants from the time period of November 2004 to April 2006, and to contextualize these applications within the development of the Charitable Fund for Athletes.

Advocating recognition and redistribution in poverty alleviation programs in Ghana : an examination of state and NGO programs and policies

Abstract This thesis argues that poverty alleviation strategies and programs carried out by the government and Non Governmental Organizations in Ghana provide affirmative solutions to poverty. This is because, these intervention strategies have been influenced by conventional discourses on poverty that fail to adequately address non-economic issues of poverty such as powerlessness, marginalization and tmder-representation. The study is carried out in a two-pronged manner; first, it analyses state policies and strategies, particularly the Ghana Poverty Reduction Strategy (GPRS), on poverty alleviation and compares these to NGO programs, implemented with funds and support from external donor organizations. Specifically, I focus on how NGOs and the governnlent of Ghana negotiate autonomy and financial dependency with their funding donor-partners and how these affect their policies and programs. Findings from this study reveal that while external influences dominate poverty alleviation policies and strategies, NGOs and the government of Ghana exercise varying degrees of agency in navigating these issues. In particular, NGOs have been able to adapt their programs to the changing needs of donor markets, and are also actively engaged in re-orienting poverty back to the political domain through advocacy campaigns. Overall, rural communities in Ghana depend on charitable NGOs for the provision of essential social services, while the Ghanaian government depends on international donor assistance for its development projects.

Florence P. Dolmage estate papers, 1878, 1945-1946

In 1852 Robert Dolmage (ca. 1821-1889) a merchant of Palermo, Halton County, Ontario married Frances Palmer of Toronto. Together they had four daughters: Carrie, Fanny, Laura and Florence. The family resided in Halton County until they moved to Grimsby, Ont. after 1871 and before 1881. Robert Dolmage died in 1889 and his wife, Frances died in 1904. After Robert’s death the family continued to reside in the family home on Main Street in Grimsby, Ont. and the business interests were looked after by Claude A. Boden. Mr. Boden became one of the prime beneficiaries of Florence Palmer Dolmage’s estate after her death in 1945. Florence Dolmage was buried in Queen’s Lawn Cemetery on July 7, 1945. As she was the last remaining member of this family her estate was dispersed to extended family members as well as charitable organizations. At this time, no information is known about the connection between the Dolmage and Sillett families.

I.O.D.E. Earl Mountbatten Chapter Fonds, 1945-2007

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Earl Mountbatten Chapter was formed in 1947 and is continuing to be a functioning chapter at the time of writing this finding aid. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics.

I.O.D.E. Second Dragoons Chapter Fonds, 1967-1983

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire RG310 page 2 forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Second Dragoons Chapter was formed in 1933 and was disbanded in 1983, which was their 50th anniversary. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics

I.O.D.E. Duke of Kent Chapter Fonds, 1934-1980

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Duke of Kent Chapter was formed in 1934 and was disbanded in 1980. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics.

Niagara Symphony Orchestra fonds, 1926, 1948-1998, n.d.

In 1948, The St. Catharines Civic Orchestra was founded by Jan Wolanek who was also the first conductor. Initially, this was a community orchestra and in 1963 its governing body assumed the name St. Catharines Symphony Association. In 1978 the name was again changed to The Niagara Symphony Association to reflect regional responsibilities. Wally Laughton was named Assistant Conductor in 1952/53. R.C. Clarke took over the orchestra for an interim period after Wolanek left in 1957. In 1958 Leonard Pearlman became the Music Director. It was under his direction that the Niagara Symphony Chorus came into existence in 1963. Milton Barnes succeeded Pearlman in 1964 and he was responsible for directing the symphony’s first opera production. He also made a concerted effort to attract younger people to symphonic music. In 1972 Leonard Atherton became the Music Director. He started the Cantata Choir and the Madrigal Singers. It was under his tenure that the orchestra became professional. When Atherton left in 1980, there were three seasons of guest conductors, the most notable of these conductors was Uri Mayer. In 1981 James Vincent Fusco was appointed as composer in residence and in 1983 Ermanno Florio became the Music Director. He retained this position until 1995 when Michael Reason took over. Daniel Swift was appointed as Music Director and Conductor in 1999 and the Niagara Symphony Orchestra became the orchestr in residence at Brock University. Laura Thomas was appointed as Associate Conductor 1n 2004. Daniel Swift’s resignation in 2008 began a search for a new Music Director. Bradley Thachuck was appointed as Music Director Designate and Principal Conductor in 2010. The orchestra is a fully professional, charitable institution with 52 members.The orchestra has also been led by Victor Feldbrill and Howard Cable. A junior symphony was first formed under Leonard Pearlman in 1960/61, but it wasn’t until 1965 that The St. Catharines Youth Orchestra was founded. The orchestra has consistently been an award winner in music festivals. The musicians range in age from 12 to 18 years. The highlight of the 1973-74 season was the orchestra’s participation in the first Canadian Festival of Youth Orchestras at The Banff School of Fine Arts. The St. Catharines Youth Orchestra has evolved from the St. Catharines School String and Brass Ensembles to a full scale symphony under the direction of conductor Paul van Dongen. In 1974 the Symphony House music program came into existence. It was 1976 when Richard Grymonpre was hired as the principal violinist of the St. Catharines Symphony Orchestra and conductor of the St. Catharines Youth Orchestra. Tak Ng Lai took over the position as conductor in 1978. Laura Thomas is currently the Music Director of The Niagara Youth Orchestra. Source: Niagara Symphony, Orchestra in Residence, Brock University website and notes from Niagara Symphony files

Niagara Bruce Trail Club Fonds, 1962-2014, n.d.

The Bruce trail is Canada’s longest and oldest continuous footpath. The trail runs along the Niagara Escarpment from Niagara to Tobermory through private and public land. The main trail is 890 km long and the side trails measure 400 km. In 1961, a “Save the Escarpment” conference was held in Hamilton. Gerry Wolfram, a writer for the St. Catharines Standard proposed that a committee be formed to develop a hiking trail. The Peninsula Field Naturalists Club formed a committee and President Bert Lowe contacted landowners along the proposed route to gain permission to cross their properties. Through Bert Lowe’s effort and dedication, the trail was completed in October 1963. The trail was officially opened on May 24th, 1964 in a ceremony at Queenston. The Niagara group joined the Bruce Trail Association in 1968 at which time the Niagara Bruce Trail Club was formed. The Bruce Trail Association is a charitable, membership-based volunteer organization. Their goal is to preserve public access to the Niagara Escarpment while restoring its natural habitat. The head office of the Bruce Trail Association is located in Hamilton, Ontario. The Niagara Bruce Trail Club’s goal is to secure and preserve a natural corridor along the Niagara Escarpment while providing education, awareness, and access for the public and the future. The club has organized many hikes including special hikes such as the one to commemorate the St. Catharines Centennial. The club has also hosted children’s hikes, cross country skiing hikes, wildflower hikes, jogging hikes, snowshoe hikes and bike outings. They hold annual events such as the End to End hike which is a 3 day walk from Grimsby to Queenston and the 30 km Laura Secord hike to commemorate Laura Secord’s famous walk. Charity hikes have also been held for the Heart and Stroke Foundation and the Lung Association as well as other causes. Major changes have taken place along the trail throughout the years, some of these include: a reroute which eliminated the tunnel passage (1976) and a bridge which eliminated the need to walk to Mountain Road to cross the Queen Elizabeth Way (2008). Other major changes and clean-up projects have been undertaken by the club. The Bruce Trail Conservancy (formerly Association) is made up of 9 clubs including: Niagara Bruce Trail Club (Queenston to Grimsby), Iroquia Bruce Trail Club (Grimsby to Kelso), Toronto Bruce Trail Club (Kelso to Cheltenham), Caledon Hills Bruce Trail Club (Cheltenham to Mono Centre), Dufferin Hi-Land Bruce Trail Club (Mono Centre to Lavender), Blue Mountains Bruce Trail Club (Lavender to Craigleath), Beaver Valley Bruce Trail Club (Craigleath to Blantyre), Sydenham Bruce Trail Club (Blantyre to Wiarton) and Peninsula Bruce Trail Club (Wiarton to Tobermory). Sources: http://www.niagarabrucetrail.org/index.html and http://brucetrail.org/