What is an Adequate Standard of Living During Retirement?

Many economists and policy-makers argue that households do not save enough to maintain an adequate standard of living during retirement. However, there is no consensus on the answer to the underlying question what this standard should be, despite the fact that it is crucial for the design of saving incentives and pension reforms. We address this question with a survey, individually tailored to each respondent’s financial situation, conducted both in the U.S. and the Netherlands. Key findings are that adequate levels of retirement spending exceed 70 percent of working life spending, and minimum acceptable replacement rates depend strongly on income.Life cycle preferences;pension reform;replacement rates;retirement saving

Theoretical Study of the Effect of Ionospheric Return Currents on the Electron Temperature

An electron heat flow can occur in a partially ionized plasma in response to either an electron temperature gradient (thermal conduction) or an electron current (thermoelectric heat flow). The former process has been extensively studied, while the latter process has received relatively little attention. Therefore a time-dependent three-dimensional model of the high-latitude ionosphere was used to study the effect of field-aligned ionospheric return currents on auroral electron temperatures for different seasonal and solar cycle conditions as well as for different upper boundary heat fluxes. The results of this study lead to the following conclusions: (1) The average, large-scale, return current densities, which are a few microamps per square meter, are too small to affect auroral electron temperatures. (2) Current densities greater than about 10−5 A m−2 are needed for thermoelectric heat flow to be important. (3) The thermoelectric effect displays a marked solar cycle and seasonal dependence. (4) Thermoelectric heat transport corresponds to an upward flow of electron energy. (5) This energy flow can be either a source or sink of electron energy, depending on the altitude and geophysical conditions. (6) Thermoelectric heat transport is typically a sink above 300 km and acts to lower ambient electron temperatures by as much as 2000 K for field-aligned return current densities of the order of 5 × 10−5 A m−2. For this case, the electron temperature decreases with altitude above 300 km with a gradient that can exceed 1 K km−1. Also, the electron temperature can drop below both the ion and neutral temperatures in the upper F region owing to thermoelectric cooling. (7) A downward magnetospheric heat flux in combinations with an upward thermoelectric heat flux can produce steep positive electron temperature gradients in the topside ionosphere

Simulations of secondary Farley-Buneman instability driven by a kilometer-scale primary wave: anomalous transport and formation of flat-topped electric fields

Since the 1950s, high frequency and very high frequency radars near the magnetic equator have frequently detected strong echoes caused ultimately by the Farley‐Buneman instability (FBI) and the gradient drift instability (GDI). In the 1980s, coordinated rocket and radar campaigns made the astonishing observation of flat‐topped electric fields coincident with both meter‐scale irregularities and the passage of kilometer‐scale waves. The GDI in the daytime E region produces kilometer‐scale primary waves with polarization electric fields large enough to drive meter‐scale secondary FBI waves. The meter‐scale waves propagate nearly vertically along the large‐scale troughs and crests and act as VHF tracers for the large‐scale dynamics. This work presents a set of hybrid numerical simulations of secondary FBIs, driven by a primary kilometer‐scale GDI‐like wave. Meter‐scale density irregularities develop in the crest and trough of the kilometer‐scale wave, where the total electric field exceeds the FBI threshold, and propagate at an angle near the direction of total Hall drift determined by the combined electric fields. The meter‐scale irregularities transport plasma across the magnetic field, producing flat‐topped electric fields similar to those observed in rocket data and reducing the large‐scale wave electric field to just above the FBI threshold value. The self‐consistent reduction in driving electric field helps explain why echoes from the FBI propagate near the plasma acoustic speed.NSF grants PHY-1500439 and AGS-1755350 and NASA grant NNX14AI13G supported the research presented in this work. This work used TACC and XSEDE computational resources supported by the National Science Foundation grant ACI-1053575. This paper did not use any data; simulation runs are archived on the TACC Ranch system. The authors thank one anonymous reviewer for helpful comments. (PHY-1500439 - NSF; AGS-1755350 - NSF; NNX14AI13G - NASA; ACI-1053575 - National Science Foundation)Published version2019-07-0

Saving incentives, old-age provision and displacement effects: evidence from the recent German pension reform

In response to population aging, pay-as-you-go pensions are being reduced in almost all developed countries. In many countries, governments aim to fill the resulting gap with subsidized private pensions. This paper exploits the recent German pension reform to shed new light on the uptake of voluntary, but heavily subsidized private pension schemes. Specifically, we investigate how the uptake of the recently introduced "Riester pensions” depends on state-provided saving incentives, and how well the targeting to families and low-income households works in practice. We show that, after a slow start, private pension plans took off very quickly. While saving incentives were effective in reaching parents, they were less successful in attracting low-income earners, although Riester pensions exhibit a more equal pattern by income than occupational pensions and unsubsidized private pension plans. We also provide circumstantial evidence on displacement effects between saving for old-age provision and other purposes. Households who plan to purchase housing are less likely to have a Riester pension. The same holds for households who attach high importance to a bequest motive. Occupational pensions and other forms of private pensions, however, act as complements rather than as substitute

Participation costs for responders can reduce rejection rates in ultimatum bargaining

This paper reports data from an ultimatum mini-game in which responders first had to choose whether or not to participate. Participation was costly, but the participation cost was smaller than the minimum payoff that a responder could guarantee himself in the ultimatum game. Compared to a standard treatment, we find that the rejection rate of unfavorable offers is significantly reduced when participation is costly. A possible explanation based on cognitive dissonance is offered

A quenching apparatus for the gaseous products of the solar thermal dissociation of ZnO

Rapid cooling for avoiding the recombination of Zn vapor and O2 derived from the solar thermal dissociation of ZnO is investigated using a thermogravimeter coupled to a quenching apparatus. The ZnO sample, which is placed in a cavity receiver and directly exposed to concentrated solar irradiation, underwent dissociation in the temperature range 1,820-2,050K at a rate monitored by on-line thermogravimetry. The product gases were quenched by water-cooled surfaces and by injection of cold Ar at cooling rates from 20,000 to 120,000K/s, suppressing the formation of ZnO in the gas phase and at the walls. Zinc content of the collected particles downstream varied in the range 40-94% for Ar/Zn(g) dilutions of 170 to 1,50

Patches in the Polar Ionosphere: UT and Seasonal Dependence

The seasonal and UT dependencies of patches in the polar ionosphere are simulated using the Utah State University time dependent ionospheric model (TDIM). Patch formation is achieved by changing the plasma convection pattern in response to temporal changes in the interplanetary magnetic field (IMF) By component during periods of southward IMF. This mechanism redirects the plasma flow from the dayside high-density region, which is the source of the tongue of ionization (TOI) density feature, through the throat and leads to patches, rather than a continuous TOI. The model predicts that the patches are absent at winter solstice (northern hemisphere) between 0800 and 1200 UT and that they have their largest seasonal intensity at winter solstice between 2000 and 2400 UT. Between winter solstice and equinox, patches are strong and present all day. Patches are present in summer as well, although their intensity is only tens of percent above the background density. These winter-to-equinox findings are also shown to be consistent with observations. The model was also used to predict times at which patch observations could be performed to determine the contributions from other patch mechanisms. This observational window is ± 20 days about winter solstice between 0800 and 1200 UT in the northern hemisphere. In this observational window the TOI is either absent or reduced to a very low density. Hence the time dependent electric field mechanism considered in this study does not produce patches, and if they are observed, then they must be due to some other mechanism

Effect of High Latitude Ionospheric Convection on Sun-Aligned Polar Caps

A coupled magnetospheric-ionospheric (M-I) MHD model has been used to simulate the formation of Sun-aligned polar cap arcs for a variety of interplanetary magnetic field (IMF) dependent polar cap convection fields. The formation process involves launching an Alfvén shear wave from the magnetosphere to the ionosphere where the ionospheric conductance can react self-consistently to changes in the upward currents. We assume that the initial Alfvén shear wave is the result of solar wind-magnetosphere interactions. The simulations show how the E region density is affected by the changes in the electron precipitation that are associated with the upward currents. These changes in conductance lead to both a modified Alfvén wave reflection at the ionosphere and the generation of secondary Alfvén waves in the ionosphere. The ensuing bouncing of the Alfvén waves between the ionosphere and magnetosphere is followed until an asymptotic solution is obtained. At the magnetosphere the Alfvén waves reflect at a fixed boundary. The coupled M-I Sun-aligned polar cap arc model of Zhu et al. (1993a) is used to carry out the simulations. This study focuses on the dependence of the polar cap arc formation on the background (global) convection pattern. Since the polar cap arcs occur for northward and strong By IMF conditions, a variety of background convection patterns can exist when the arcs are present. The study shows that polar cap arcs can be formed for all these convection patterns; however, the arc features are dramatically different for the different patterns. For weak sunward convection a relatively confined single pair of current sheets is associated with the imposed Alfvén shear wave structure. However, when the electric field exceeds a threshold, the arc structure intensifies, and the conductance increases as does the local Joule heating rate. These increases are faster than a linear dependence on the background electric field strength. Furthermore, above the threshold, the single current sheet pair splits into multiple current sheet pairs. For the fixed initial ionospheric and magnetospheric conditions used in this study, the separation distance between the current pairs was found to be almost independent of the background electric field strength. For either three-cell or distorted two-cell background convection patterns the arc formation favored the positive By case in the northern hemisphere

Radar Measurements of High-Latitude Ion Composition between 140 and 300 km Altitude

The Chatanika radar has been used to measure the ratio of atomic (O+) ions to molecular (O2 +, NO+) ions in the high-latitude ionosphere. The radar results agreed well with simultaneous in situ rocket data, giving confidence in the radar method of deducing ion composition. Measurements made over long periods of time show seasonal variations, diurnal variations, and variations due to auroral processes. The transition altitude, where the number densities of atomic and molecular ions are equal, is a convenient parameter for describing the composition variation with altitude or ‘composition altitude profile.’ The transition altitude occurs at ∼190 km at night and ∼170 km during the day, in agreement with midlatitude results. During the winter the daytime transition altitude is 15 km lower than in summer, a seasonal variation similar to that at midlatitudes. Energetic particle precipitation results in the lowering of the transition altitude, by 10 km in one case when energetic particles deposited ∼20 ergs/cm² s in the atmosphere. The largest variations in ion composition were found during periods of large joule heat input resulting from electric fields on the order of 50 mV/m. The transition altitude increased by 50 km in a case where the joule heat input rate was 30 ergs/cm² s. These observations were compared to calculations from a simple steady state model involving the principal consituents and reactions. The results indicate that the transition altitude during particle precipitation is most influenced by the increased ion production. There do not appear to be significant effects from possible increases of N2 vibrational temperature. A number of interrelated effects contribute to the increase in transition altitude during joule heating. The most important effect is the electric field contribution in raising the effective ion temperature. In addition, it appears that increased N2 density is also required to account for the observed change