Economic Implications of ERISA

If the intent of the Employee Retirement Income Security Act, ERISA, was to assure that beneficiaries of insolvent pension plans receive adequate pension benefits, sharp increases in nominal rates of interest have blunted that purpose. Without an increase in these rates, the Pension Benefit Guarantee Corporation, PBGC, the insurance agency established to guarantee benefits, faced large liabilities on the terminations of pension plans. We examine the economics of pension funds and the funding of pension funds before and after the enactment of ERISA. The Act changed the economics of pension funds. The PBGC, the employer, and the employees have interests in the assets of the pension plan. The PBGC can tax corporations to pay off liabilities and to fund guaranteed benefits; employers can terminate pension plans or overfund them; employees can ask for more benefits or claim the assets in the fund. Although the PBGC insures benefits, the insurance agent forbears, not acting quickly to protect its own interests. To prevent potential huge increases in its liabilities, the PBGC could require that employers hedge the guaranteed benefits, and fund their increases in promised benefits. Given its policies, these requirements could protect the PBGC.

Governing Net Zero Carbon Removals to Avoid Entrenching Inequities

Climate change embeds inequities and risks reinforcing these in policies for climate change remediation. In particular, with policies designed to achieve “net zero” carbon dioxide, offsets may be considered inequitable if seen to avoid or delay gross emission reductions; offsets to emissions through technologically mature methods of carbon dioxide removals (CDR) require natural resources at scales threatening food security; knowledge of the potential of immature CDR is largely a global north monopoly; and CDR in particular environments is ill-understood and its implications for development unexamined. The use of CDR to contribute to robust progress toward Paris climate goals requires global agreement on simultaneously reducing emissions and enhancing removals, equity in burden sharing, and an interdisciplinary effort led by individual jurisdictions and focused on the co-development of technologies and governance to create CDR portfolios matched to local needs

Controlled synthesis of SPION@SiO₂ nanoparticles using design of experiments

The synthesis of single-core superparamagnetic iron oxide nanoparticles (SPIONs) coated with a silica shell of controlled thickness remains a challenge, due to the dependence on a multitude of experimental variables. Herein, we utilise design of experiment (DoE) to study the formation of SPION@SiO2 nanoparticles (NPs) via reverse microemulsion. Using a 33 full factorial design, the influence of reactant concentration of tetraethyl orthosilicate (TEOS) and ammonium hydroxide (NH4OH), as well as the number of fractionated additions of TEOS on the silica shell was investigated with the aim of minimising polydispersity and increasing the population of SPION@SiO2 NPs formed. This investigation facilitated a reproducible and controlled approach for the high yield synthesis of SPION@SiO2 NPs with uniform silica shell thickness. Application of a multiple linear regression analysis established a relationship between the applied experimental variables and the resulting silica shell thickness. These experimental variables were similarly found to dictate the monodispersity of the SPION@SiO2 NPs formed. The overall population of single-core@shell particles was dependent on the interaction between the number of moles of TEOS and NH4OH, with no influence from the number of fractionated additions of TEOS. This work demonstrates the complexity of the preparative method and produces an accessible and flexible synthetic model to achieve monodisperse SPION@SiO2 NPs with controllable shell thickness

Microcavity controlled coupling of excitonic qubits

Controlled non-local energy and coherence transfer enables light harvesting in photosynthesis and non-local logical operations in quantum computing. The most relevant mechanism of coherent coupling of distant qubits is coupling via the electromagnetic field. Here, we demonstrate the controlled coherent coupling of spatially separated excitonic qubits via the photon mode of a solid state microresonator. This is revealed by two-dimensional spectroscopy of the sample's coherent response, a sensitive and selective probe of the coherent coupling. The experimental results are quantitatively described by a rigorous theory of the cavity mediated coupling within a cluster of quantum dots excitons. Having demonstrated this mechanism, it can be used in extended coupling channels - sculptured, for instance, in photonic crystal cavities - to enable a long-range, non-local wiring up of individual emitters in solids

Does hip muscle strength and functional performance differ between football players with and without hip dysplasia?

Objective: To compare hip muscle strength and functional performance in football players with and without hip dysplasia and investigate if the relationships were modified by sex. Design: Cross-sectional study. Methods: This study compared football players with hip dysplasia (HD group) and without hip dysplasia (control group). Hip muscle strength (Nm/kg) and functional task performance were assessed in both groups. Linear regression with generalized estimating equations were used to assess differences between groups. Sex was assessed as a potential effect modifier. Results: 101 football players were included (HD group, n = 50, control group, n = 87). There was no difference in hip muscle strength or functional performance between the HD group and the control group. Results ranged from hip extension strength (Estimate −0.13.95%CI: 0.29 to 0.02, P = 0.087) to hip external rotation strength (Estimate 0.00.95%CI: 0.05 to 0.05, P = 0.918). No relationships were modified by sex or age. Conclusions: Similar levels of hip muscle strength and functional performance were found in active football players with and without hip dysplasia. These findings differ from other studies. This may be due to our cohort having less advanced hip dysplasia than the surgical populations that have been previously investigated, or due to a beneficial effect of football participation on muscle strength and functional performance in people with hip dysplasia.</p

Environmental and Resource Economics: Some Recent Developments by

A first draft of this paper was prepared when the authors were visiting the Abdus Salam International Centre for Theoretical Physics (ICTP), Trieste, during April-May 2004. The current version was completed in Colombo, Sri Lanka, in June 2004, while the authors were attending the bi-annual teaching and research workshop of the South Asian Network for Development and Environmental Economics (SANDEE). We are most grateful to K. Sreenivasan (Director of ICTP), and Manik Duggar and Priya Shyamsundar (respectively, Programme Manager and Director of SANDEE), for making our visits both possible and most agreeable. Over the years, we have benefited greatly from discussions with Scott Barrett, William Brock, Stev