Valuing free-choice learning in national parks

Self-directed learning in parks deserves to recognized for its effectiveness

Miniature vibration isolator Patent

Miniature vibration isolator utilizing elastic tubing materia

Federal Minimum Wage, Tax-Transfer Earnings Supplements, and Poverty

[Excerpt] This report focuses on the impact of minimum wage and tax-transfer earnings supplements for workers of different family types. It does so through illustrating how the minimum wage and federal tax-transfer policies affect the income of a minimum wage worker who works full-time, full-year in four different family types: a single childless worker; a worker supporting a married couple; a single mother with two children; and a married couple with two children. These family types are chosen to highlight the different treatment federal tax-transfer policies have on workers of different family types. They were not chosen as representative of most minimum wage workers. The illustrations show the impact of policies on two childless workers—one married, one not. They also show the impact of two workers with children—one married, one not. The report highlights how policies differ between families with children, and families without children. This report supplements these illustrations with some background on policies, as well as some policy considerations that apply generally to debates on the minimum wage and tax-transfer policies. Full-year, full-time work at the minimum wage is not common. In 2012, 32% of workers earning the minimum wage worked full-time. Again, the illustrations were not chosen to be representative of most minimum wage workers. Full-time, full-year work was chosen for illustrative purposes. Additionally, the income produced by full-time, full year work at the minimum wage is an important policy benchmark, as it reflects the federally-determined minimum income for someone with full-time involvement in the labor force. This report • describes current law minimum wage and tax-transfer earnings supplement policies; • provides the illustrations of gross earnings and net income (after taxes and SNAP benefits) for full-time full-year minimum wage workers at both the current minimum wage ($7.25 per hour) and the proposed$10.10 minimum wage; and • discusses some of the policy implications of addressing poverty through both the minimum wage and federally-funded earnings supplements

Semantic browsing of digital collections

Visiting museums is an increasingly popular pastime. Studies have shown that visitors can draw on their museum experience, long after their visit, to learn new things in practical situations. Rather than viewing a visit as a single learning event, we are interested in ways of extending the experience to allow visitors to access online resources tailored to their interests. Museums typically have extensive archives that can be made available online, the challenge is to match these resources to the visitor’s interests and present them in a manner that facilitates exploration and engages the visitor. We propose the use of knowledge level resource descriptions to identify relevant resources and create structured presentations. A system that embodies this approach, which is in use in a UK museum, is presented and the applicability of the approach to the broader semantic web is discussed

Moral hazard and bail-out in fiscal federations: evidence for the German Länder

We identify investor moral hazard in the German fiscal federation. Our identification strategy is based on a variable, which was used by the German Federal Constitutional Court as an indicator to determine eligibility of two German states (Länder) to a bail-out, the interest payments-to-revenue ratio. While risk premia measured in the German sub-national bond market react significantly to the relative debt level of a state (Land), we also find that a larger interest payments-to-revenue ratio counter-intuitively lowers risk premia significantly. Furthermore, with increasing values the risk premia decrease more strongly. This is evidence of investor moral hazard, because a larger indicator value increases the likelihood of receiving a bail-out payment. Quantitatively, the effects are, however, quite small. Our findings are robust to a variety of sample changes. In addition, we provide a case study of the recent Federal Constitutional Court ruling on the Land Berlin, which had filed for additional federal funds. The negative response of the court did not lead to a change in financial markets' bail-out expectations. In sum, our results indicate significant investor moral hazard in the sub-national German bond market. --moral hazard,bail-out,sovereign bond spreads,fiscal federalism,Germany

Expected budget deficits and interest rate swap spreads - Evidence for France, Germany and Italy

This study analyses whether expected budget deficits have an impact on interest rate swap spreads in France, Germany and Italy. We use monthly deficit forecasts from financial market participants to take the forward-looking behaviour of financial markets into account. Results of a SUR estimation show no significant impact of expected deficits on swap spreads over the whole sample period (1994-2004). However, we find an increase in market discipline for Germany and France since the signing of the Stability and Growth Pact, and for Germany also since the start of European monetary union. --Budget deficits,interest rate swap spreads,EMU,Stability and Growth Pact

Oil: Its Time Allocation and Project Independence

macroeconomics, oil