Utility accommodation policy of the Iowa State Highway Commission, 1970

This policy covers initial placement, adjustment, relocation and replacement of utility facilities in, on, above or below all highway right of way over which the Iowa State Highway Commission exercises control of access. It embodies the basic specifications and standards needed, to insure the safety of the highway user and the integrity of the highway.

Utility accommodation policy of the Iowa State Highway Commission, 1973

This policy covers initial placement, adjustment, relocation and replacement of utility facilities in, on, above or below all highway right of way over which the Iowa State Highway Commission exercises control of access. It embodies the basic specifications and standards needed, to insure the safety of the highway user and the integrity of the highway. (1973 revision to 1970 policy.)

Policy for Accommodating Utilities on State Highway Rights-of-Way, 1985

This policy covers initial placement, adjustment, relocation and replacement of utility facilities in, on, above or below all highway right of way over which the Iowa Department of Transportation exercises control of access. It embodies the basic specifications and standards needed, to insure the safety of the highway user and the integrity of the highway. (1985 revision to 1973 policy.)

Policy of the Iowa Department of Transportation Highway Division For Accommodating Utilities on Primary Road System, 1990

This policy covers initial placement, adjustment, relocation and replacement of utility facilities in, on, above or below all highway right of way over which the Iowa Department of Transportation exercises control of access. It embodies the basic specifications and standards needed, to insure the safety of the highway user and the integrity of the highway. (1990 revision to 1985 policy.)

Policy for Accommodating and Adjustment of Utilities on the Primary Road System, 2012

This chapter covers initial placement, adjustment, and maintenance of utility facilities in, on, above or below the right-of-way of primary highways, including attachments to primary highway structures. It embodies the basic specifications and standards needed to ensure the safety of the highway user and the integrity of the highway. (2012 revision to 2005 policy.)

Policy of the Iowa Department of Transportation Highway Division For Accommodating Utilities on the Primary Road System, 1992

This chapter covers initial placement, adjustment, improvement, relocation, replacement and maintenance of utility facilities in, on, above or below the right-of-way over of primary highways, including attachments to primary highway structures. It embodies the basic specifications and standards needed, to ensure the safety of the highway user and the integrity of the highway. (1992 revision to 1990 policy.)

Policy for Accommodating and Adjustment of Utilities on the Primary Road System, 2005

This chapter covers initial placement, adjustment, and maintenance of utility facilities in, on, above or below the right-of-way of primary highways, including attachments to primary highway structures. It embodies the basic specifications and standards needed, to ensure the safety of the highway user and the integrity of the highway. (2005 revision to 1992 policy.)

Independent Central Banks: Low inflation at no cost?: A model with fiscal policy

In this article we extend the rational partisan model of Alesina and Gatti (1995) to include a second policy, fiscal policy, besides monetary policy. It is shown that, with this extension, the politically induced variance of output is not always eliminated nor reduced by delegating monetary policy to an independent and conservative central bank. Further, in flation and output stabilisation will be affected by the degree of conservativeness of the central bank and by the probability of the less in flation averse party gaining power. Keywords: rational partisan theory; fiscal policy; independent central bank JEL Classi fication: E58, E63.

The effects of monetary policy on stock market bubbles: Some evidence

We estimate the response of stock prices to exogenous monetary policy shocks usinga vector-autoregressive model with time-varying parameters. Our evidence points toprotracted episodes in which, after a a short-run decline, stock prices increase persistently in response to an exogenous tightening of monetary policy. That responseis clearly at odds with the "conventional" view on the effects of monetary policy onbubbles, as well as with the predictions of bubbleless models. We also argue that it isunlikely that such evidence be accounted for by an endogenous response of the equitypremium to the monetary policy shocks.

Essays in equilibrium asset pricing

Introduction This dissertation consists of three essays in equilibrium asset pricing. The first chapter studies the asset pricing implications of a general equilibrium model in which real investment is reversible at a cost. Firms face higher costs in contracting than in expanding their capital stock and decide to invest when their productive capital is scarce relative to the overall capital of the economy. Positive shocks to the capital of the firm increase the size of the firm and reduce the value of growth options. As a result, the firm is burdened with more unproductive capital and its value lowers with respect to the accumulated capital. The optimal consumption policy alters the optimal allocation of resources and affects firm's value, generating mean-reverting dynamics for the M/B ratios. The model (1) captures convergence of price-to-book ratios -negative for growth stocks and positive for value stocks - (firm migration), (2) generates deviations from the classic CAPM in line with the cross-sectional variation in expected stock returns and (3) generates a non-monotone relationship between Tobin's q and conditional volatility consistent with the empirical evidence. The second chapter proposes a standard portfolio-choice problem with transaction costs and mean reversion in expected returns. In the presence of transactions costs, no matter how small, arbitrage activity does not necessarily render equal all riskless rates of return. When two such rates follow stochastic processes, it is not optimal immediately to arbitrage out any discrepancy that arises between them. The reason is that immediate arbitrage would induce a definite expenditure of transactions costs whereas, without arbitrage intervention, there exists some, perhaps sufficient, probability that these two interest rates will come back together without any costs having been incurred. Hence, one can surmise that at equilibrium the financial market will permit the coexistence of two riskless rates that are not equal to each other. For analogous reasons, randomly fluctuating expected rates of return on risky assets will be allowed to differ even after correction for risk, leading to important violations of the Capital Asset Pricing Model. The combination of randomness in expected rates of return and proportional transactions costs is a serious blow to existing frictionless pricing models. Finally, in the last chapter I propose a two-countries two-goods general equilibrium economy with uncertainty about the fundamentals' growth rates to study the joint behavior of equity volatilities and correlation at the business cycle frequency. I assume that dividend growth rates jump from one state to other, while countries' switches are possibly correlated. The model is solved in closed-form and the analytical expressions for stock prices are reported. When calibrated to the empirical data of United States and United Kingdom, the results show that, given the existing degree of synchronization across these business cycles, the model captures quite well the historical patterns of stock return volatilities. Moreover, I can explain the time behavior of the correlation, but exclusively under the assumption of a global business cycle.

Governor’s Office of Drug Control Policy Performance Plan, FY 2014

The Agency Performance Report for the Governor’s Office of Drug Control Policy is published in accordance with the Accountable Government Act. The information provided illustrates accountability to stakeholders and citizens. The report is indicative of the agency’s progress in achieving goals consistent with the enterprise strategic plan, the agency strategic plan and agency performance plan.