Pay-as-you-go social security and the distribution of bequests

This paper studies the impact of an unfunded social security system on the distribution of bequests in a framework where savings are due both by life cycle and by random altruistic motivations. We show that the impact of social security on the distribution of bequests depends crucially on the importance of the bequest motive in explaining savings behavior. If the bequest motive is strong, then an increase in the social security tax raises the bequests left by altruistic parents. On the other hand, when the importance of bequests in motivating savings is sufficiently low, theincrease in the social security tax could result in a reduction of the bequests left by altruistic parents under some conditions on the attitude of individuals toward risk and on the relative returns associated with private saving and social security. Some implications concerning the transitional effects of introducing an unfunded social security scheme are also discussed.

Report on a review of selected general and application controls over the Iowa Department of Transportation’s Contractor Pay System for the period May 5, 2008 through July 31, 2008

Report on a review of selected general and application controls over the Iowa Department of Transportation’s Contractor Pay System for the period May 5, 2008 through July 31, 2008

Ruling out coronary heart disease in primary care patients with chest pain: a clinical prediction score.

ABSTRACT: BACKGROUND: Chest pain raises concern for the possibility of coronary heart disease. Scoring methods have been developed to identify coronary heart disease in emergency settings, but not in primary care. METHODS: Data were collected from a multicenter Swiss clinical cohort study including 672 consecutive patients with chest pain, who had visited one of 59 family practitioners' offices. Using delayed diagnosis we derived a prediction rule to rule out coronary heart disease by means of a logistic regression model. Known cardiovascular risk factors, pain characteristics, and physical signs associated with coronary heart disease were explored to develop a clinical score. Patients diagnosed with angina or acute myocardial infarction within the year following their initial visit comprised the coronary heart disease group. RESULTS: The coronary heart disease score was derived from eight variables: age, gender, duration of chest pain from 1 to 60 minutes, substernal chest pain location, pain increases with exertion, absence of tenderness point at palpation, cardiovascular risks factors, and personal history of cardiovascular disease. Area under the receiver operating characteristics curve was of 0.95 with a 95% confidence interval of 0.92; 0.97. From this score, 413 patients were considered as low risk for values of percentile 5 of the coronary heart disease patients. Internal validity was confirmed by bootstrapping. External validation using data from a German cohort (Marburg, n = 774) revealed a receiver operating characteristics curve of 0.75 (95% confidence interval, 0.72; 0.81) with a sensitivity of 85.6% and a specificity of 47.2%. CONCLUSIONS: This score, based only on history and physical examination, is a complementary tool for ruling out coronary heart disease in primary care patients complaining of chest pain.

Sovereign debt markets in turbulent times: Creditor discrimination and crowding-out effects

In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and lowspreads. Then the financial crisis erupted and pushed them into deep recessions, raising theirdeficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,surprisingly, so did the share of the debt held by domestic creditors. Credit was reallocatedfrom the private to the public sectors, reducing investment and deepening the recessions evenfurther. To account for these facts, we propose a simple model of sovereign risk in which debtcan be traded in secondary markets. The model has two key ingredients: creditor discriminationand crowding-out effects. Creditor discrimination arises because, in turbulent times, sovereigndebt offers a higher expected return to domestic creditors than to foreign ones. This providesincentives for domestic purchases of debt. Crowding-out effects arise because private borrowingis limited by financial frictions. This implies that domestic debt purchases displace productiveinvestment. The model shows that these purchases reduce growth and welfare, and may lead toself-fulfilling crises. It also shows how crowding-out effects can be transmitted to other countriesin the Eurozone, and how they may be addressed by policies at the European level.

Voyages astraux et hors du corps. Héautoscopie, extase et hallucinations expérientielles d'origine épileptique [Astral and out-of-body voyages. Heautoscopy, ecstasis and experimental hallucinations of epileptic origin]

We report a 38 year-old patient who had temporoparietal epilepsy and unusual ictal "out of body" experiences that remained undiagnosed for more than ten years, until her admission for a motor seizure of the left hemibody. Out of body episodes were experienced as intense and ecstatic astral journeys. EEG showed a bilateral extension of epileptiform abnormalities to the parietal regions, predominantly on the right side. We discuss the various forms of heautoscopy and their putative mechanisms. We suggest that a disturbance in representing space in independent extrapersonal and personal coordinates might be as crucial as the elusive hypothesis of a body schema disorder. Combined involvement of the parietal neocortex and temporolimbic structures might allow those experiences to gain a subjective vividness which appears to be indissociable from normal conscious experiences.

Report on a review of the Transportation Enhancement Program of the Iowa Department of Transportation for projects closed out during the period July 1, 2007 through June 30, 2009

Report on a review of the Transportation Enhancement Program of the Iowa Department of Transportation for projects closed out during the period July 1, 2007 through June 30, 2009

The optimal dividend barrier in the Gamma-Omega model

In the traditional actuarial risk model, if the surplus is negative, the company is ruined and has to go out of business. In this paper we distinguish between ruin (negative surplus) and bankruptcy (going out of business), where the probability of bankruptcy is a function of the level of negative surplus. The idea for this notion of bankruptcy comes from the observation that in some industries, companies can continue doing business even though they are technically ruined. Assuming that dividends can only be paid with a certain probability at each point of time, we derive closed-form formulas for the expected discounted dividends until bankruptcy under a barrier strategy. Subsequently, the optimal barrier is determined, and several explicit identities for the optimal value are found. The surplus process of the company is modeled by a Wiener process (Brownian motion).

Stand Out In A Crowd! Merchandising Your Job Talents,

You want a job. And you believe that somewhere, some employer has precisely the job you want - one that fully utilizes your knowledge and abilities and provides challenge and opportunities for advancement. To find that job, you need to perform a well-planned job search. You have a product to sell - your knowledge, skills and experience . . . YOURSELF! What you need to know is how to market yourself most effectively. Whether you are just out of school and ready to start your career or looking for a new position after 20 years of experience, some of the techniques presented in this booklet may help you. NOTE: ENGLISH

Report to the Governor and General Assembly on the Status of Out-of School Arts Programming for Youth, December 2006

In the 2006 Iowa General Assembly, House File 2797 called for a study on the status of afterschool arts programs and appropriated $5,000 for the study. In accordance with the legislation, the Iowa Arts Council, who received the charge, contracted with the Iowa Afterschool Alliance to form a Resource Group of out-of-school arts providers and experts to develop and oversee the study, review its results, and make recommendations for the expansion of arts programs that operate outside the normal school day. As a part of its charge in HF 2797, the Iowa Arts Council also documented a sampling of out-of-school arts programs statewide. Five are featured in this report.

National Identity and the Preference for State Opting-Out in the Basque Country

We argue that preferences for secession are the expression of a common unobserved mechanisms determining national identity. This paper examines the hypothesis of independence of both preferences for secession (independent Euskadi) and Basque national identity in the light of Akerloff and Kranton (2000). We deal with psychological determinants of individuals' national identity formation as well as those that influence the propensity of individuals to support the secession of their perceived ¿imagined community¿ or nation.. We undertake econometric survey analysis for the Basque Country using a bivariate probit model and publicly available data from the Spanish Centre for Sociological Research. Our results provide robust evidence of a common determination of national identity and political preferences for the secession of the Basque Country consistently with Akerloff and Kranton model.

Ammonia volatilization of urea in the out-of-season corn

The aim of this study was to evaluate the N losses due to volatilization at different rates of common urea, polymer coated urea and urease inhibitor-treated urea in the out-of-season corn, using semi-open static collectors. The treatments consisted of N levels on side-dressing fertilization with urea in different treatments: (a) control (without N), (b) urea 40 kg ha-1 N, (c) urea 80 kg ha-1 N, (d) polymer coated urea 40 kg ha-1 N, (e) polymer coated urea 80 kg ha-1 N and (f) urea with the urease inhibitor (UI) N 80 kg ha-1 N. The results showed that the treatments with polymer coated urea and with urease inhibitor-treated urea reduced the volatilization of N around 50 % compared to common urea, either in the first and the second N side-dressing fertilizations. Thus, they demonstrate that the polymer coat and the urease inhibitors were effective in reducing the volatilization of urea N applied in coverage, which resulted in higher productivity. There was also increasing urease activity in the treatments with application of common urea.