Curbing Tax Expenditures

Reviews trends in tax expenditures and their effects and examines three options for raising tax revenue by applying limits to large and widely utilized tax preferences: a fixed percentage credit, a cap based on income, and a constant percentage reduction

Tackling Arithmophobia : Teaching How to Read, Understand, and Analyze Financial Statements

This discussion presents different ideas on how to teach accounting and practical finance to law students

Is There Evidence that Legislative Ambition Matches Development? Evaluating the Factors Influencing Wind Energy Development

Resource /Energy Economics and Policy,

Protocol for electrophysiological monitoring of carotid endarterectomies.

Near zero stroke rates can be achieved in carotid endarterectomy (CEA) surgery with selective shunting and electrophysiological neuromonitoring. though false negative rates as high as 40% have been reported. We sought to determine if improved training for interpretation of the monitoring signals can advance the efficacy of selective shunting with electrophysiological monitoring across multiple centers, and determine if other factors could contribute to the differences in reports. Processed and raw beta band (12.5-30 Hz) electroencephalogram (EEG) and median and tibial nerve somatosensory evoked potentials (SSEP) were monitored in 668 CEA cases at six surgical centers. A decrease in amplitude of 50% or more in any EEG or SSEP channel was the criteria for shunting or initiating a neuroprotective protocol. A reduction of 50% or greater in the beta band of the EEG or amplitude of the SSEP was observed in 150 cases. No patient showed signs of a cerebral infarct after surgery. Selective shunting based on EEG and SSEP monitoring can reduce CEA intraoperative stroke rate to a near zero level if trained personnel adopted standardized protocols. We also found that the rapid administration of a protective stroke protocol by attending anesthesiologists was an important aspect of this success rate

Analysis of the 2007/8 Defra Farm Business Survey Energy Module

Key points This study has delivered an invaluable baseline estimate of energy use and greenhouse gas (GHG) emissions on commercial farms in England. Energy use and GHG emissions associated with particular commodities were quantified and results broadly agreed with those derived by Life Cycle Assessment, but with much scatter in the environmental performance of farms.Direct energy use on farms was generally less that indirect (embedded) energy use, except for horticulture, which is dominated by heating fuel use. In contrast, most GHG emissions are incurred on farms, rather than as embedded emissions.Scatter in both environmental and economic performance underlies the somewhat disappointing finding of no clear positive link between farm financial performance and energy use or GHG emissions. However, the mere existence of these ranges shows that there is scope for improvement in both financial and environmental performance and that there is no apparent barrier for both to be achievable in harmony. The recording of such farm-level energy data is essential for the future, as it should enable improvements to be made in efficiency of energy use. The improved UK agricultural GHG inventory will depend on high quality energy data on agricultural activities. This study will be invaluable in identifying the level of detail needed. Future data requirements include: contractor work rates and fuel use per unit area and per unit time, fertiliser and pesticide use by brand name, enhanced output data, especially animal live weights, and horticultural produce recorded by weight rather than by value

Semi-analytical dark matter halos and the Jeans equation

Although N-body studies of dark matter halos show that the density profiles, rho(r), are not simple power-laws, the quantity rho/sigma^3, where sigma(r) is the velocity dispersion, is in fact a featureless power-law over ~3 decades in radius. In the first part of the paper we demonstrate, using the semi-analytic Extended Secondary Infall Model (ESIM), that the nearly scale-free nature of rho/sigma^3 is a robust feature of virialized halos in equilibrium. By examining the processes in common between numerical N-body and semi-analytic approaches, we argue that the scale-free nature of rho/sigma^3 cannot be the result of hierarchical merging, rather it must be an outcome of violent relaxation. The empirical results of the first part of the paper motivate the analytical work of the second part of the paper, where we use rho/sigma^3 proportional to r^{-alpha} as an additional constraint in the isotropic Jeans equation of hydrostatic equilibrium. Our analysis shows that the constrained Jeans equation has different types of solutions, and in particular, it admits a unique ``periodic'' solution with alpha=1.9444. We derive the analytic expression for this density profile, which asymptotes to inner and outer profiles of rho ~ r^{-0.78}, and rho ~ r^{-3.44}, respectively.Comment: 37 pg, 14 fig. Accepted to ApJ: added two figures and extended discussion. Note that an earlier related paper (conference proceedings) astro-ph/0412442 has a mistake in eq.(2.2); the correct version is eq.(5) of the present submissio

Mediation Analysis for Censored Survival Data under an Accelerated Failure Time Model

Recent advances in causal mediation analysis have formalized conditions for estimating direct and indirect effects in various contexts. These approaches have been extended to a number of models for survival outcomes including accelerated failure time (AFT) models which are widely used in a broad range of health applications given their intuitive interpretation. In this setting, it has been suggested that under standard assumptions, the “difference” and “product” methods produce equivalent estimates of the indirect effect of exposure on the survival outcome. We formally show that these two methods may produce substantially different estimates in the presence of censoring or truncation, due to a form of model misspecification. Specifically, we establish that while the product method remains valid under standard assumptions in the presence of independent censoring, the difference method can be biased in the presence of such censoring whenever the error distribution of the AFT model fails to be collapsible upon marginalizing over the mediator. This will invariably be the case for most choices of mediator and outcome error distributions. A notable exception arises in case of normal mediator-normal outcome where we show consistency of both difference and product estimators in the presence of independent censoring. These results are confirmed in simulation studies and two data applications