Business Plan Chicago to Iowa City Intercity Passenger Rail Route, March 21, 2012

Overview of the Passenger Service Connects Iowa City, Quad Cities and Chicago, 219.5 miles Twice‐daily service each way, 4 hours and 15 minutes travel time 246,800 passengers first year (676 per day) Project construction cost $310 million (80% federal, 14.5% Illinois, 5.4% Iowa) On‐time performance 90% or better (trains arrive within 10 minutes of schedule) Competitive passenger rail service operator selection Iowa’s annual share of operating cost support averages $3 million

Business Plan Chicago to Iowa City Intercity Passenger Rail Route, March 21, 2011

This business plan describes the methods by which the Iowa Department of Transportation (DOT) will partner with Iowa counties and cities to fund Iowa’s share of the operating and maintenance cost for the Chicago- Iowa City passenger-rail service, an average of $3 million per year.

The Chicago-Iowa City Passenger Rail Program, February 23, 2011

Iowa’s share of the match will come from a combination of state appropriations and local funding. In FY 11, Iowa lawmakers approved intent language to provide up to $20 million over four years to help fund Iowa’s mmitment for matching federal passenger rail funding. To date, the legislature has appropriated $10 million to be used for the match. • Illinois announced in January 2010 that it would use $45 million from its state capital plan for construction of the route.

Chicago to Iowa City Passenger Rail Project Financial Plan, September 2009

The Chicago to Iowa City Intercity Passenger Rail Program (Program) is a joint undertaking of the Iowa Department of Transportation (Iowa DOT) and the Illinois Department of Transportation (Illinois DOT). The purpose of the Program is to reestablish passenger rail services from Chicago to Iowa City, independently and in concert with the MWRRI (Midwest Regional Rail Initiative). The Chicago to Iowa City Corridor is one part of the vision established by the MWRRI to expand existing and develop new regional passenger rail service to meet existing and future travel demands in the Midwest. This project will expand and create a rail transportation alternative to supplant private automobile, bus, and air travel between Chicago and Iowa City, and intermediate points, and to create new transportation opportunity and capability for people who cannot meet their transportation needs with private automobile, bus and air modes.

Testing the bivariate distribution of daily equity returns using copulas: an application to the Spanish stock market

In this paper we deal with the identification of dependencies between time series of equity returns. Marginal distribution functions are assumed to be known, and a bivariate chi-square test of fit is applied in a fully parametric copula approach. Several families of copulas are fitted and compared with Spanish stock market data. The results show that the t-copula generally outperforms other dependence structures, and highlight the difficulty in adjusting a significant number of bivariate data series

Single-valued solutions for the Böhm-Bawerk horse market game

Single-valued solutions for the case of two-sided market games without product differentiation, also known as Böhm-Bawerk horse market games, are analyzed. The nucleolus is proved to coincide with the tau-value, and is thus the midpoint of the core. Moreover a characterization of this setof games in terms of the assignment matrix is provided.

The relationship of capitalization period length with market portfolio composition and betas

Beta coefficients are not stable if we modify the observation periods of the returns. The market portfolio composition also varies, whereas changes in the betas are the same, whether they are calculated as regression coefficients or as a ratio of the risk premiums. The instantaneous beta, obtained when the capitalization frequency approaches infinity, may be a useful tool in portfolio selection.

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.

The Political Economy of Active Labor-Market Policy

Active labor-market policies (ALMPs) have developed significantly over the past two decades across Organization for Economic Cooperation and Development (OECD) countries, with substantial cross-national differences in terms of both extent and overall orientation. The objective of this article is to account for cross-national variation in this policy field. It starts by reviewing existing scholarship concerning political, institutional, and ideational determinants of ALMPs. It then argues that ALMP is too broad a category to be used without further specification, and it develops a typology of four different types of ALMPs: incentive reinforcement, employment assistance, occupation, and human capital investment. These are discussed and examined through ALMP expenditure profiles in selected countries. The article uses this typology to analyze ALMP trajectories in six Western European countries and shows that the role of this instrument changes dramatically over time. It concludes that there is little regularity in the political determinants of ALMPs. In contrast, it finds strong institutional and ideational effects, nested in the interaction between the changing economic context and existing labor-market policies.

Price transmission and market power analysis in the Spanish seafood market chain

[cat] Espanya és un dels principals mercats de productes pesquers d’Europa i del món. El consum de productes pesquers ha estat tradicionalment molt important a Espanya, el 2005 es varen consumir 36,7 kg per persona (MAPA, diversos anys). Malgrat això, el mercat i cóm interactuen els diversos nivells de la cadena de comercialització han gaudit de poca atenció. En aquest estudi, utilitzant dades setmanals, s’analitza per als dotze principals productes pesquers, l’elasticitat en la transmissió de preus al llarg de la cadena de comercialització a Espanya (llotja, mercat central i detallista). Finalment s’investiga la presència d’assimetria en la transmissió de preus entre aquests nivells de mercat. Els resultats obtinguts tenen importants implicacions a l’hora d’analitzar la demanda, poder de mercat i marges al llarg del mercat per als productes pesquers.

Measuring conduct and cost parameters in the Spanish air transport market

This paper estimates a model of airline competition for the Spanish air transport market. I test the explanatory power of alternative oligopoly models with capacity constraints. In addition, I analyse the degree of density economies. Results show that Spanish airlines conduct follows a price-leadership scheme so that it is less competitive than the Cournot solution. I also find evidence that thin routes can be considered as natural monopolies

Midwest Regional Rail Passenger Initiative and Passenger Rail Service in Iowa Status Report

This report provides the status of the Passenger Rail Service Revolving Fund and the development and operation of the midwest regional rail system and the state's passenger rail service.