Deciding the sale of a life policy in the viatical market: Implications on individual welfare

[cat] En aquest article, es presenta un model econòmic que permet determinar la venda o no d'una pòlissa de vida (total o en part) per part d'un assegurat malalt terminal en el mercat dels viatical settlements. Aquest mercat va aparèixer a finals de la dècada dels 80 a conseqüència de l'epidèmia de la SIDA. Actualment, representa una part del mercat dels life settlements. Les pòlisses que es comercialitzen en el mercat dels viaticals són aquelles on l'assegurat és malalt terminal amb una esperança de vida de dos anys o menys. El model és discret i considera només dos períodes (anys), ja que aquesta és la vida residual màxima que contempla el mercat. L'agent posseix una riquesa inicial que ha de repartir entre consum i herència. S'introdueix en primer lloc la funció d'utilitat esperada del decisor i, utilitzant programació dinàmica, es dedueix l'estratègia que reporta una utilitat més gran (no vendre/vendre (en part) la pòlissa en el moment zero/vendre (en part) la pòlissa en el moment ú). L'òptim depèn del preu de la pòlissa venuda i de paràmetres personals de l'individu. Es troba una expressió analítica per l'estratègia òptima i es realitza un anàlisi de sensibilitat.

Optimal fiscal policy in overlapping generations models

[eng] This paper provides, from a theoretical and quantitative point of view, an explanation of why taxes on capital returns are high (around 35%) by analyzing the optimal fiscal policy in an economy with intergenerational redistribution. For this purpose, the government is modeled explicitly and can choose (and commit to) an optimal tax policy in order to maximize society's welfare. In an infinitely lived economy with heterogeneous agents, the long run optimal capital tax is zero. If heterogeneity is due to the existence of overlapping generations, this result in general is no longer true. I provide sufficient conditions for zero capital and labor taxes, and show that a general class of preferences, commonly used on the macro and public finance literature, violate these conditions. For a version of the model, calibrated to the US economy, the main results are: first, if the government is restricted to a set of instruments, the observed fiscal policy cannot be disregarded as sub optimal and capital taxes are positive and quantitatively relevant. Second, if the government can use age specific taxes for each generation, then the age profile capital tax pattern implies subsidizing asset returns of the younger generations and taxing at higher rates the asset returns of the older ones.

Reforms of the Common Agricultural Policy and agriculture in Finland

Selostus: Euroopan unionin yhteisen maatalouspolitiikan uudistaminen ja Suomen maatalous

Smart Planning in Iowa - A Guide to Principles, Strategies and Policy Tools

This guide was created to aid communities in the process of smart planning and is organized around the 10 Smart Planning Principles signed into Iowa law in 2010. A general description of the concept, strategies for encouraging use, policy tools for implementation, and a current Iowa example are presented for each Principle. In addition, a brief list of resources is provided to help local governments, community organizations and citizen planners find information and ideas on community involvement and incorporation of smart planning concepts in every day decisions.

Trade policy and regional inequalities

This paper aims to analyse the effects of trade policies in the pattern of regional inequalities within a country. Inspired firstly, by the debate concerning the role of protectionist policies in the settlement of a pattern of striking regional inequalities in the Spanish industrialisation process and secondly, by current evidence of an increase in these inequalities following the entry of Spain in the EU (1986), we set a model that shows that trade liberalisation increases regional inequalities.

Policy Environment and Public Service Motivation

This article analyzes whether and to what extent the policy environment of civil servants has an impact on their level of Public Service Motivation (PSM). It hypothesizes that public employees working in different policy domains and stages of the policy cycle are diversely motivated by four PSM orientations (Compassion, Commitment to the public interest, Self-sacrifice and Attraction to politics). The empirical results are based on a survey of 6885 Swiss civil servants. They show that those in charge of Welfare State policies are inclined to have higher levels of 'Compassion', whereas those performing core state functions report lower levels. Furthermore, employees whose main tasks are related to policy formulation display high levels of the 'Attraction to politics' dimension of PSM. This study questions the generalization of previous findings on PSM that are based on heterogeneous survey populations.

Policy Change and the Politics of Expertise. Economic Ideas and immigration Control Reforms in switzerland

This article analyses the varying influence across time of the "epistemic community" of free-market economists on immigration policy making in Switzerland. To this end, a framework for the analysis of the impact of economic expertise is provided, and then used in an historical analysis comparing the 1960s with the 1990s. Whereas this influence can be considered to have been weak in the 1960s, it gained significantly in importance in the 1990s, when a period of economic unrest seriously challenged previous immigration policies. It is argued that economic experts played an important role in framing the reforms undertaken during this latter period, notably by providing a "credible causal story" about the links between the existing immigration policy and the social problems which arose in the country in the 1990s. As compared to the 1960s, economic expertise in the 1990s enjoyed more credibility, more political support and took full advantage of a more uncertain social and economic context

Agency Fact Sheet, Department of the Governor's Office of Drug Control Policy, FY2007

This document produced by the Iowa Department of Administrative Services has been developed to provide a multitude of information about executive branch agencies/department on a single sheet of paper. The facts provides general information, contact information, workforce data, leave and benefits information and affirmative action data.

Agency Fact Sheet, Department of Governor Office of Drug Control Policy, FY2008

This document produced by the Iowa Department of Administrative Services has been developed to provide a multitude of information about executive branch agencies/department on a single sheet of paper. The facts provides general information, contact information, workforce data, leave and benefits information and affirmative action data.

Putting the Special Case in Its Place: Switzerland and Small-N Comparison in Policy Research

This research note presents a set of strategies to conduct small-N comparisons in policy research including the Swiss case. Even though every country can be considered "special" to some extent, the Swiss political system is often viewed as a particularly difficult case for comparison because of the impact of its idiosyncratic institutional features (most notably direct democracy). In order to deal with this problem, our note sets out two possible strategies - the use of functional equivalents and of counterfactual reasoning - and explains how to implement them empirically through process tracing and the establishment of causal chains. As an illustration, these strategies are used for a comparison of the process of electricity market liberalisation in Switzerland and Belgium.

Agency Fact Sheet, Office of Governor of Drug Control Policy, FY2009

This document produced by the Iowa Department of Administrative Services has been developed to provide a multitude of information about executive branch agencies/department on a single sheet of paper. The facts provides general information, contact information, workforce data, leave and benefits information and affirmative action data.