Incentives to Retire Later: A Solution to the Social Security Crisis?

Als ein möglicher Ausweg aus der drohenden Finanzkrise umlagefinanzierter Rentensysteme wird gegenwärtig eine Anhebung des Rentenzugangsalters von vielen favorisiert. Um allerdings Arbeitnehmern einen Anreiz zur Verlängerung der Lebensarbeitszeit zu geben, muss nach Auffassung der meisten Experten die Beziehung zwischen Beiträgen und Rentenansprüchen gestärkt werden. In dieser Arbeit werden die langfristigen finanziellen Konsequenzen einer solchen Reform analysiert. Wir zeigen, dass bei versicherungsmathematischen Zuschlägen für Mehrarbeit der Beitragssatz langfristig eine steigende Funktion des tatsächlich gewählten Rentenalters ist. Darüber hinaus steigt auch die implizite Steuer, die ein repräsentativer Versicherter an die Rentenkasse zahlt, sofern das Rentenalter in Folge einer ,,steilen" Zuschlagsfunktion zunimmt. In diesem Sinne k¨onnte die vorgeschlagene ,,Behandlung" die diagnostizierte ,,Krankheit" verschlimmern. Abschließend zeigen wir, wie der negative Effekt durch Aufbau eines Kapitalstocks vermieden werden kann. As one possible solution to the well-known financing crisis of unfunded social security systems, an increase in the retirement age is a popular option. To induce workers to retire later, it has been proposed to strengthen the link between retirement age and benefit level. The present paper is devoted to analyzing the long-run financial implications of such a reform. We show that with actuarial adjustments the long-run contribution rate is an increasing function of the retirement age chosen by workers. Moreover, the implicit tax paid to the pension system by a participant can increase in the long run if the retirement age rises in response to a "steep" adjustment rule. In this sense, the proposed "cure" may worsen the disease. Finally, we propose an alternative adjustment scheme which avoids these negative consequences. Finally, we show how the negative effects can be avoided by forming a capital stock from the additional revenues due to later retirement.Pay-as-you-go, retirement age, actuarial adjustment

Satisfaction not Guaranteed - Institutions and Satisfaction with Democracy in Western Europe

What determines citizens’ satisfaction with the “constitution in operation”? We make two contributions towards an answer to this important policy question. First, we place stronger emphasis than existing studies on quantitative interpretations of the importance of different factors. We use scenario analysis to show that a consensual system generally promotes satisfaction, but affects different types of citizens differently. Second, we focus on informal institutions and rules of the game in European societies. Corporatism and group membership as a measure of social capital are good for satisfaction, and people who live in countries with a high degree of income inequality tend to be less satisfied. The findings for trust and for the rule of law are ambiguous.satisfaction with democracy, political economy, institutions

Electron-magnon scattering in elementary ferromagnets from first principles: lifetime broadening and band anomalies

We study the electron-magnon scattering in bulk Fe, Co, and Ni within the framework of many-body perturbation theory implemented in the full-potential linearized augmented-plane-wave method. To this end, a $\mathbf{k}$-dependent self-energy ($GT$ self-energy) describing the scattering of electrons and magnons is constructed from the solution of a Bethe-Salpeter equation for the two-particle (electron-hole) Green function, in which single-particle Stoner and collective spin-wave excitations (magnons) are treated on the same footing. Partial self-consistency is achieved by the alignment of the chemical potentials. The resulting renormalized electronic band structures exhibit strong spin-dependent lifetime effects close to the Fermi energy, which are strongest in Fe. The renormalization can give rise to a loss of quasiparticle character close to the Fermi energy, which we attribute to electron scattering with spatially extended spin waves. This scattering is also responsible for dispersion anomalies in conduction bands of iron and for the formation of satellite bands in nickel. Furthermore, we find a band anomaly at a binding energy of 1.5~eV in iron, which results from a coupling of the quasihole with single-particle excitations that form a peak in the Stoner continuum. This band anomaly was recently observed in photoemission experiments. On the theory side, we show that the contribution of the Goldstone mode to the $GT$ self-energy is expected to (nearly) vanish in the long-wavelength limit. We also present an in-depth discussion about the possible violation of causality when an incomplete subset of self-energy diagrams is chosen

A note on isotropic discrepancy and spectral test of lattice point sets

We show that the isotropic discrepancy of a lattice point set can be bounded from below and from above in terms of the spectral test of the corresponding integration lattice. From this we deduce that the isotropic discrepancy of any $N$-element lattice point set in $[0,1)^d$ is at least of order $N^{-1/d}$. This order of magnitude is best possible for lattice point sets in dimension $d$

The abundances of hydrocarbon functional groups in the interstellar medium inferred from laboratory spectra of hydrogenated and methylated polycyclic aromatic hydrocarbons

Infrared (IR) absorption spectra of individual polycyclic aromatic hydrocarbons (PAHs) containing methyl (-CH3), methylene (>CH2), or diamond-like *CH groups and IR spectra of mixtures of methylated and hydrogenated PAHs prepared by gas phase condensation were measured at room temperature (as grains in pellets) and at low temperature (isolated in Ne matrices). In addition, the PAH blends were subjected to an in-depth molecular structure analysis by means of high-performance liquid chromatography, nuclear magnetic resonance spectroscopy, and matrix-assisted laser desorption/ionization time-of-flight mass spectrometry. Supported by calculations at the density functional theory level, the laboratory results were applied to analyze in detail the aliphatic absorption complex of the diffuse interstellar medium at 3.4 mu-m and to determine the abundances of hydrocarbon functional groups. Assuming that the PAHs are mainly locked in grains, aliphatic CHx groups (x = 1,2,3) would contribute approximately in equal quantities to the 3.4 mu-m feature (N_{CHx} / N_{H} approx 10^{-5} - 2 * 10^{-5}). The abundances, however, may be two to four times lower if a major contribution to the 3.4 mu-m feature comes from molecules in the gas phase. Aromatic =CH groups seem to be almost absent from some lines of sight, but can be nearly as abundant as each of the aliphatic components in other directions (N_{=CH} / N_{H} < 2 * 10^{-5}; upper value for grains). Due to comparatively low binding energies, astronomical IR emission sources do not display such heavy excess hydrogenation. At best, especially in proto-planetary nebulae, >CH2 groups bound to aromatic molecules, i.e., excess hydrogens on the molecular periphery only, can survive the presence of a nearby star.Comment: 34 pages, 19 figures, ApJS, 208, 2

Optionen der Weiterentwicklung des Risikostrukturausgleichs in der GKV

The system of risk equalization payments among German Statutory Sickness Funds is currently under intensive political debate. While some participants claim that the enormous size of the equalization payments are detrimental to effective competition among funds, others argue that there are still funds which engage heavily in risk selection and are thereby able to keep their contribution rates low. In this paper the major options for a modification of the current system are analyzed both theoretically and empirically with respect to their capacity to diminish the spread of contribution rates, while preserving incentives for an efficient delivery of health care services. In particular, we examine the inclusion of additional risk adjusters in the equalization formula and the formation of a high-risk pool. The data suggest that it is indeed possible to improve the formula without diminishing the incentives for efficiency if the risk adjusters "income" and "marital status" are included.

Erhöhung der Regelaltersgrenze oder Kürzung des Rentenniveaus?

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Recent advances in minimally invasive colorectal cancer surgery

Laparoscopy has improved surgical treatment of various diseases due to its limited surgical trauma and has developed as an interesting therapeutic alternative for the resection of colorectal cancer. Despite numerous clinical advantages (faster recovery, less pain, fewer wound and systemic complications, faster return to work) the laparoscopic approach to colorectal cancer therapy has also resulted in unusual complications, i.e. ureteral and bladder injury which are rarely observed with open laparotomy. Moreover, pneumothorax, cardiac arrhythmia, impaired venous return, venous thrombosis as well as peripheral nerve injury have been associated with the increased intraabdominal pressure as well as patient's positioning during surgery. Furthermore, undetected small bowel injury caused by the grasping or cauterizing instruments may occur with laparoscopic surgery. In contrast to procedures performed for nonmalignant conditions, the benefits of laparoscopic resection of colorectal cancer must be weighed against the potential for poorer long-term outcomes of cancer patients that still has not been completely ruled out. In laparoscopic colorectal cancer surgery, several important cancer control issues still are being evaluated, i.e. the extent of lymph node dissection, tumor implantation at port sites, adequacy of intraperitoneal staging as well as the distance between tumor site and resection margins. For the time being it can be assumed that there is no significant difference in lymph node harvest between laparoscopic and open colorectal cancer surgery if oncological principles of resection are followed. As far as the issue of port site recurrence is concerned, it appears to be less prevalent than first thought (range 0-2.5%), and the incidence apparently corresponds with wound recurrence rates observed after open procedures. Short-term (3-5 years) survival rates have been published by a number of investigators, and survival rates after laparoscopic surgery appears to compare well with data collected after conventional surgery for colorectal cancer. However, long-term results of prospective randomized trials are not available. The data published so far indicate that the oncological results of laparoscopic surgery compare well with the results of the conventional open approach. Nonetheless, the limited information available from prospective studies leads us to propose that minimally invasive surgery for colorectal cancer surgery should only be performed within prospective trials

Protein Kinase CK2 and Epstein–Barr Virus

Protein kinase CK2 is a pleiotropic protein kinase, which phosphorylates a number of cellular and viral proteins. Thereby, this kinase is implicated in the regulation of cellular signaling, controlling of cell proliferation, apoptosis, angiogenesis, immune response, migration and invasion. In general, viruses use host signaling mechanisms for the replication of their genome as well as for cell transformation leading to cancer. Therefore, it is not surprising that CK2 also plays a role in controlling viral infection and the generation of cancer cells. Epstein–Barr virus (EBV) lytically infects epithelial cells of the oropharynx and B cells. These latently infected B cells subsequently become resting memory B cells when passing the germinal center. Importantly, EBV is responsible for the generation of tumors such as Burkitt’s lymphoma. EBV was one of the first human viruses, which was connected to CK2 in the early nineties of the last century. The present review shows that protein kinase CK2 phosphorylates EBV encoded proteins as well as cellular proteins, which are implicated in the lytic and persistent infection and in EBV-induced neoplastic transformation. EBV-encoded and CK2-phosphorylated proteins together with CK2-phosphorylated cellular signaling proteins have the potential to provide efficient virus replication and cell transformation. Since there are powerful inhibitors known for CK2 kinase activity, CK2 might become an attractive target for the inhibition of EBV replication and cell transformation