The Crowding-out Effect of Mandatory Labour Market Pension Schemes on Private Savings. Evidence from renters in Denmark. CEPS Working Document No. 389, February 2014

This paper aims to estimate the crowding-out effect of the Danish mandatory labour market pension reforms begun in 1993 on the level of total household savings for renters. The effect is identified via a large panel of individual administrative records utilising the differences in speed, timing and sectoral coverage of the implementation of the reform in the period 1997 to 2005. Little substitutability was found between current mandatory labour market pension savings and private voluntary savings. Each euro paid into mandatory labour market pension accounts results in a reduction in private savings of approximately 0 to 30 cents, depending on age. This low rate of substitution is only, to a minor extent, explained by liquidity constraints. The results point to mandatory pension savings having a large effect on total household savings. Thus, pension reforms that introduce mandatory savings have macroeconomic implications.

Energy Efficiency: Trends and Perspectives in the Southern Mediterranean. MEDPRO Technical Report No. 21/December 2012

This paper has two objectives. First, it attempts to establish the potential of policies on energy efficiency and energy demand-side management in the southern Mediterranean region. Second, by examining past trends in energy intensity and trends up to 2030, it analyses the prospects and costs of such policies, compared with expected developments in the price of energy resources. Based on both analyses (MEDPRO WP4) and on prospects for growth (MEDPRO WP8), it seems that energy intensity in the Mediterranean should fall perceptibly by approximately 13% in the next 20 years. But given the programmed energy mix, this will not limit emissions of CO2, which are likely to increase by more than 90%. The paper first presents the rationale for demand-side management (DSM) policies. After a general discussion of concepts, it tackles the question of instruments and measures for implementing such policies, before posing the question of the cost-efficiency approach for monitoring the measures the authorities introduce. Secondly, the paper assesses energy consumption and energy efficiency in the countries of the southern Mediterranean and the ways in which their main economic sectors have changed in recent decades. The third section outlines the demand management measures introduced and, taking Tunisia and Egypt as examples, estimates the cost of such policies. The fourth and last section offers a forecast analysis of energy consumption in the Mediterranean up to 2030, highlighting probable trends in terms of final consumption, energy intensity, energy mix and emissions of CO2. The section concludes with estimates in terms of cost, comparing objectives for lower intensity, results in terms of resource savings and the types of costs this approach represents.

Surface velocity fields, digital elevation models and ice front positions derived from multi-mission SAR remote sensing data at Sjögren Inlet glaciers, Antarctic Peninsula

Substantial retreat or disintegration of numerous ice shelves have been observed on the Antarctic Peninsula. The ice shelf in the Prince Gustav Channel retreated gradually since the late 1980's and broke-up in 1995. Tributary glaciers reacted with speed-up, surface lowering and increased ice discharge, consequently contributing to sea level rise. We present a detailed long-term study (1993-2014) on the dynamic response of Sjögren Inlet glaciers to the disintegration of Prince Gustav Ice Shelf. We analyzed various remote sensing datasets to observe the reactions of the glaciers to the loss of the buttressing ice shelf. A strong increase in ice surface velocities was observed with maximum flow speeds reaching 2.82±0.48 m/d in 2007 and 1.50±0.32 m/d in 2004 at Sjögren and Boydell glaciers respectively. Subsequently, the flow velocities decelerated, however in late 2014, we still measured about two times the values of our first measurements in 1996. The tributary glaciers retreated 61.7±3.1 km² behind the former grounding line of the ice shelf. In regions below 1000 m a.s.l., a mean surface lowering of -68±10 m (-3.1 m/a) was observed in the period 1993-2014. The lowering rate decreased to -2.2 m/a in recent years. Based on the surface lowering rates, geodetic mass balances of the glaciers were derived for different time steps. High mass loss rate of -1.21±0.36 Gt/a was found in the earliest period (1993-2001). Due to the dynamic adjustments of the glaciers to the new boundary conditions the ice mass loss reduced to -0.59±0.11 Gt/a in the period 2012-2014, resulting in an average mass loss rate of -0.89±0.16 Gt/a (1993-2014). Including the retreat of the ice front and grounding line, a total mass change of -38.5±7.7 Gt and a contribution to sea level rise of 0.061±0.013 mm were computed. Analysis of the ice flux revealed that available bedrock elevation estimates at Sjögren Inlet are too shallow and are the major uncertainty in ice flux computations. This temporally dense time series analysis of Sjögren Inlet glaciers shows that the adjustments of tributary glaciers to ice shelf disintegration are still going on and provides detailed information of the changes in glacier dynamics.

Age models and stable isotope record of sediment cores from the Atlantic Ocean

The high-resolution delta18O and delta13C records of benthic foraminifera from a 150,000-year long core from the Caribbean Sea indicate that there was generally high delta13C during glaciations and low delta13C during interglaciations. Due to its 1800-m sill depth, the properties of deep water in the Caribbean Sea are similar to those of middepth tropical Atlantic water. During interglaciations, the water filling the deep Caribbean Sea is an admixture of low delta13C Upper Circumpolar Water (UCPW) and high delta13C Upper North Atlantic Deep Water (UNADW). By contrast, only high delta13C UNADW enters during glaciations. Deep ocean circulation changes can influence atmospheric CO2 levels (Broecker and Takahashi, 1985; Boyle, 1988 doi:10.1029/JC093iC12p15701; Keir, 1988 doi:10.1029/PA003i004p00413; Broecker and Peng, 1989 doi:10.1029/GB003i003p00215). By comparing delta13C records of benthic foraminifera from cores lying in Southern Ocean Water, the Caribbean Sea, and at several other Atlantic Ocean sites, the thermohaline state of the Atlantic Ocean (how close it was to a full glacial or full interglacial configuration) is characterized. A continuum of circulation patterns between the glacial and interglacial extremes appears to have existed in the past. Subtracting the deep Pacific (~mean ocean water) delta13C record from the Caribbean delta13C record yields a record which describes large changes in the Atlantic Ocean thermohaline circulation. The delta13C difference varies as the vertical nutrient distribution changes. This new proxy record bears a striking resemblance to the 150,000-year-long atmospheric CO2 record (Barnola et al., 1987 doi:10.1038/329408a0). This favorable comparison between the new proxy record and the atmospheric CO2 record is consistent with Boyle's (1988a) model that vertical nutrient redistribution has driven large atmospheric CO2 changes in the past. Changes in the relative contribution of NADW and Pacific outflow water to the Southern Ocean are also consistent with Broecker and Peng's (1989) recent model for atmospheric CO2 changes.

Puerto Rico : update of selected information contained in a 1981 GAO report : fact sheet for the Chairman, Committee on Energy and Natural Resources, U.S. Senate /

"B-234765"--P. 1.

Refugees and U.S. asylum seekers from Central America : statement of Nancy R. Kingsbury, Director, Foreign Economic Assistance Issues, National Security and International Affairs Division; before the Subcommittee on Immigration, Refugees, and International Law, Committee on the Judiciary, House of Representatives.

"For release ... March 9, 1989."

1989 UM Women's Tennis Team

1989 University of Michigan Baseball Team

Top Row: student mngr. John Rutherford, student trainer Steve Fitch, Dave Everly, Dave Julier, Brian Korson, Jason Pfaff, Andy Fairman, Tracy Piehl, Todd Marion, Matt Morse, Steve Buerkel, trainer Kim Hart, student mngr. Mike Gaynor

Middle Row: asst. coach John Young, asst. coach Ted Mahan, Todd Winston, Dan Ruff, Greg Haeger, Kirt Ojala, Rick Leonard, Russell Brock, Jeff Tanderys, Eric Persinger, Mike Matheny, Tim Flanelly, asst. coach Chuck Froning, coach Bud Middaugh

Front Row: John Locker, Greg McMurtry, Tim Lata, Mike Grimes, Doug Kaiser, Dave Peralta, Jim Durham, Kourtney Thompson, mngr. Ed Turek, Phil Price, Ross Powell, Stacey Katlin, Chris Gagin