A Comparison of National Saving Rates in the UK, US and Italy

We develop the approach of Gokhale et al. (1996), based on the life-cycle model of savings, to decompose the di?erences in the national saving rates between the UK, US and Italy. Our work suggests that the US saving rate is lower principally because Americans on average retire later. In contrast, the Italian saving rate is higher predominantly because Italians are credit constrained, particularly when young. We also found that demography and the di?erent tax and bene?t systems are able to explain little of the cross-sectional di?erences in saving rates. The study accounts for the possible importance of intergenerational private transfers in determining saving rates.Saving Rates, International Comparisons, Intergenerational Transfers, Borrowing Constraints

Pension Arrangements and Retirement Choices in Europe: A Comparison of the British, Danish and German Systems. ENEPRI Research Reports No. 5, 1 February 2005

This paper develops a general equilibrium simulation model of a heterogeneous population in which both consumption/saving and labour/leisure choices are endogenous. The authors use it to explore the effects of the different state benefit systems on the labour supply of old and older workers in Denmark, Germany and the UK. In broad terms, they find that differences in labour force participation can be accounted for by the differences in benefit structures. These conclusions are not altered when they allow for the effects of poor health at different ages. The UK system is found to be preferable by young persons while the German arrangement is preferred by old and older people (who make up the majority in the simulated population)

Simulating the transmission of wealth inequality via bequests

Answering the question of how much wealth inequality arises from inheritance inequality requires data that are unavailable and potentially uncollectable. The alternative approach taken here (from Blinder [1974, 1976] and Davies [1982]) is to simulate the transmission of inequality via bequests.Wealth

Simulating the Transmission of Wealth Inequity via Bequests

This paper develops, calibrates, and simulates a dynamic 88-period OLG model to study the intergenerational transmission of U.S. wealth inequality via bequests. The model features marriage, realistic fertility patterns, random death, assortative mating based on skills, heterogeneous skill endowments, heterogeneous rates of return, skill inheritability, progressive income taxation, and resource annuitization via social security. All bequests arise from imperfect annuitization. Nonetheless, the model generates a realistic ration of aggregate wealth to aggregate labor income, a realistic bequest flow relative to the stock of wealth, and a realistic wealth distribution at retirement. Skill differences, assortative mating, social security, and the time preference are the primary determinants of wealth inequality. Bequests do propagate wealth inequality, but only in the presence of social security, which disproportionately disinherits the lifetime poor. Intergenerational wealth immobility, also considered here, is primarily determined by the inheritance of skills from one's parents and the magnification of the impact of this inheritance by marital sorting.

Digital ethics, political economy and the curriculum: this changes everything

This chapter makes the case for a refocusing of teaching and learning across the curriculum on foundational questions about ethics in digital culture – and, hence, for reframing classroom practice around critical digital literacies. Our view is that a central aim of schooling now should be the interrogation of the forms and contents, practices and consequences of digital communications, and that the curriculum should engage developmentally and systematically with the current issues regarding everyday actions and their consequences, corporate and state surveillance, privacy and transparency, political and economic control and ownershi

The Hypanis Valles delta: The last highstand of a sea on early Mars?

One of the most contentious hypotheses in the geological history of Mars is whether the northern lowlands ever contained an oceanic water body. Arguably, the best evidence for an ocean comes from the presence of sedimentary fans around Mars' dichotomy boundary, which separates the northern lowlands from the southern highlands. Here we describe the palaeogeomorphology of the Hypanis Valles sediment fan, the largest sediment fan complex reported on Mars (area >970 km2). This has an extensive catchment (4.6 x 105 km2) incorporating Hypanis and Nanedi Valles, that we show was active during the late-Noachian/early-Hesperian period (∼3.7 Ga). The fan comprises a series of lobe-shaped sediment bodies, connected by multiple bifurcating flat-topped ridges. We interpret the latter as former fluvial channel belts now preserved in inverted relief. Meter-scale-thick, sub-horizontal layers that are continuous over tens of kilometres are visible in scarps and the inverted channel margins. The inverted channel branches and lobes are observed to occur up to at least 140 km from the outlet of Hypanis Valles and descend ∼500 m in elevation. The progressive basinward advance of the channellobe transition records deposition and avulsion at the margin of a retreating standing body of water, assuming the elevation of the northern plains basin floor is stable. We interpret the Hypanis sediment fan to represent an ancient delta as opposed to a fluvial fan system. At its location at the dichotomy boundary, the Hypanis Valles fan system is topographically open to Chryse Planitia – an extensive plain that opens in turn into the larger northern lowlands basin. We conclude that the observed progradation of fan bodies was due to basinward shoreline retreat of an ancient body of water which extended across at least Chryse Planitia. Given the open topography, it is plausible that the Hypanis fan system records the existence, last highstand, and retreat of a large sea in Chryse Planitia and perhaps even an ocean that filled the northern plains of Mars

Prev Chronic Dis

IntroductionThe objective of this cross-sectional study was to examine the nutrition literacy status of adults in the Lower Mississippi Delta.MethodsSurvey instruments included the Newest Vital Sign and an adapted version of the Health Information National Trends Survey. A proportional quota sampling plan was used to represent educational achievement of residents in the Delta region. Participants included 177 adults, primarily African Americans (81%). Descriptive statistics, \ucf\u20212 analysis, analysis of variance, and multivariate analysis of covariance tests were used to examine survey data.ResultsResults indicated that 24% of participants had a high likelihood of limited nutrition literacy, 28% had a possibility of limited nutrition literacy, and 48% had adequate nutrition literacy. Controlling for income and education level, the multivariate analysis of covariance models revealed that nutrition literacy was significantly associated with media use for general purposes (F = 2.79, P = .005), media use for nutrition information (F = 2.30, P = .04), and level of trust from nutrition sources (F = 2.29, P = .005). Overall, the Internet was the least trusted and least used source for nutrition information. Only 12% of participants correctly identified the 2005 MyPyramid graphic, and the majority (78%) rated their dietary knowledge as poor or fair.ConclusionCompared with other national surveys, rates of limited health literacy among Delta adults were high. Nutrition literacy status has implications for how people seek nutrition information and how much they trust it. Understanding the causes and consequences of limited nutrition literacy may be a step toward reducing the burden of nutrition-related chronic diseases among disadvantaged rural communities

Hypotheses for the Origin of the Hypanis Fan-Shaped Deposit at the Edge of the Chryse Escarpment, Mars: Is it a Delta?

We investigated the origin of the fan-shaped deposit at the end of Hypanis Valles that has previously been proposed as an ExoMars, Mars 2020, and human mission candidate landing site, and found evidence that the landform is an ancient delta. Previous work suggests that the deposit originated from a time of fluvial activity both distinct from and prior to catastrophic outflow, and crater counting placed the deposit’s age at  ≥ 3.6 Ga. We found over 30 thin sedimentary strata in the proposed delta wall, and from our slope analysis conclude that the fluvial sequence is consistent with a lowering/retreating shoreline. We measured nearly horizontal bedding dip angles ranging from 0° to 2° over long stretches of cliff and bench exposures seen in HiRISE images and HiRISE stereo DTMs. From THEMIS night IR images we determined that the fan-shaped deposit has a low thermal inertia (150-240 Jm-2 K-1 s-1/2) and the surrounding darker-toned units correspond to thermal inertia values as high as 270-390 Jm-2 K-1 s-1/2. We interpret these findings to indicate that the fan-shaped deposit consists mostly of silt-sized and possibly finer grains, and that the extremely low grade and large lateral extent of these beds implies that the depositional environment was calm and relatively long-lived. We interpret the geomorphology and composition as incompatible with an alluvial fan or mudflow hypothesis. From our stratigraphic mapping we interpret the order of events which shaped the region. After the Chryse impact, sediment filled the basin, a confined lake or sea formed allowing a large delta to be deposited near its shoreline, the water level receded to the north, darker sedimentary/volcanic units covered the region and capped the light-toned deposit as hydro-volcanic eruptions shaped the interior of Lederberg crater, freeze/thaw cycles and desiccation induced local fracturing, and finally wrinkle ridges associated with rounded cones warped the landscape following trends in degraded crater rims and existing tectonic features. The ancient deltaic deposit we observe today was largely untouched by subsequent catastrophic outflows, and its surface has been only moderately reshaped by over 3 billion years of aeolian erosion

Incomplete Punishment Networks in Public Goods Games: Experimental Evidence

Abundant evidence suggests that high levels of contributions to public goods can be sustained through self-governed monitoring and sanctioning. This experimental study investigates the effectiveness of decentralized sanctioning institutions in alternative punishment networks. Our results show that the structure of punishment network significantly affects allocations to the public good. In addition, we observe that network configurations are more important than punishment capacities for the levels of public good provision, imposed sanctions and economic efficiency. Lastly, we show that targeted revenge is a major driver of anti-social punishment