Pension reform in an OLG model with heterogeneous abilities

We study the effects of pension reform in a four-period OLG model for an open economy where hours worked by three active generations, education of the young, the retirement decision of older workers, and aggregate growth, are all endogenous. Within each generation we distinguish individuals with high, medium or low ability to build human capital. This extension allows to investigate also the effects of pension reform on the income and welfare levels of different ability groups. Particular attention goes to the income at old-age and the welfare level of low-ability individuals. Our simulation results prefer an intelligent pay-as-you-go pension system above a fully-funded private system. When it comes to promoting employment, human capital, growth, and aggregate welfare, positive effects in a pay-as-you-go system are the strongest when it includes a tight link between individual labor income (and contributions) and the pension, and when it attaches a high weight to labor income earned as an older worker to compute the pension assessment base. Such a regime does, however, imply welfare losses for the current low-ability generations, and rising inequality in welfare. Complementing or replacing this ‘intelligent’ pay-as-you-go system by basic and/or minimum pension components is negative for aggregate welfare, employment and growth. Better is to maintain the tight link between individual labor income and the pension also for low-ability individuals, but to strongly raise their replacement rate

Fats are glossy but does glossiness imply fatness? The influence of packaging glossiness on food perceptions

This research brings together two research streams, one focusing on the influence of a diverse set of packaging attributes (e.g., shape, size, color, etc.) on perceptions of packaged food and the second one on the up- and downsides of using glossy materials, which are often studied in a non-food context. The current research deals with the influence of glossy (versus matte) food packages on consumers' perceptions of the food inside the package. With one online survey and one quasi-experiment, we show that consumers draw inferences on the food's fat level from the package surface, in that glossy packages are seen as a signal of fatness. This association is specific; consumers do not associate glossiness with every unhealthy product aspect. Sugar levels are unaffected by the package surface. However, due to the higher inferred fat level, a product in a glossy package is perceived to be less healthy, less tasty, and low in quality and product expensiveness. Thus, these findings suggest that glossy (versus matte) food packages mainly serve as a signal of negative product qualities

Pension reform, employment by age and long-run growth

We study the effects of pension reform in a four-period OLG model for an open economy where hours worked by three active generations, education of the young, the retirement decision of older workers, and aggregate per capita growth, are endogenous. Next to the characteristics of the pension system, our model assigns an important role to the composition of fiscal policy. We find that the model explains the facts remarkably well for many OECD countries. Our simulation results prefer an intelligent pay-as-you-go pension system above a fully-funded private system. When it comes to promoting employment, human capital, growth, and welfare, positive effects in a PAYG system are the strongest when it includes a tight link between individual labor income (and contributions) and the pension, and when it attaches a high weight to labor income earned as an older worker to compute the pension assessment base.employment by age, endogenous growth, retirement, pension reform, overlapping generations

Effects of supplementing beef cows grazing forages with wheat-based dried distillers’ grains with solubles on animal performance, forage intake & rumen metabolism

Three experiments were conducted to determine the effects of supplementing wheat-based dry distillers’ grains with solubles (DDGS) on cow performance, forage utilization, and production costs. In the first two experiments, 48 dry, pregnant Black Angus cows (mean BW±SD; 598.2±4.2 kg) stratified by body weight (BW) and days pregnant were allocated randomly to one of three replicated (n=2) treatments. Cows were managed on stockpiled crested wheatgrass pasture (TDN=49.0, CP=7.3 (% DM)) in experiment one (EXP 1) and barley straw-chaff residue (TDN=45.4, CP=8.6 (% DM)) in experiment two (EXP 2). EXP 1 supplement treatments were (1) 100% DDGS (70:30 wheat:corn blend; DDGS); (2) 100% commercial supplement (COMM); or (3) control– no supplement (CONT). EXP 2 supplement treatments were (1) 100% DDGS (70:30 wheat:corn blend; DDGS); (2) 50% DDGS + 50% rolled barley (50:50); or (3) 100% rolled barley grain (control; BARL). Forage utilization was measured for both trials using the herbage weight disappearance method. Cow BW, body condition score (BCS), and rib and rump fat were measured at the start and end of trial and cow BW was corrected for conceptus gain based on calving data. There was no effect (P > 0.05) of treatment on forage utilization in either experiment. In EXP 1, cow performance was not affected (P > 0.05) by supplement strategy. In EXP 2, BW change was 11.3, 6.8, and -6.5 (P < 0.01) for DDGS, 50:50, and BARL, respectively. Because forage utilization was not affected, the difference in cow BW was the result of supplement type. Costs per cow per day in EXP 1 were $0.66,$0.68, and $0.60 for DDGS, COMM, and CONT, respectively. In EXP 2, costs per cow per day were$0.79, $0.80, and$0.80 for DDGS, 50:50, and BARL treatments, respectively. In experiment three (EXP 3), four ruminally cannulated beef heifers were individually fed a basal ration of 75% ground barley straw and 25% ground grass hay (TDN=46.3, CP=7.5 (% DM)). Heifers were supplemented with either (1) DDGS (70:30 wheat:corn blend; DDGS); (2) commercial range pellet (COMM); (3) barley grain and canola meal (BAR+CM); or (4) control – no supplement (CONT). Forage intake, apparent total tract digestibility, and passage rate; rumen fermentation parameters; and the rate and extent of forage degradation were measured. Forage intake, passage rate, and apparent total tract digestibility of DM, NDF, and ADF were not affected (P > 0.41) by treatment. Apparent total tract digestibility of CP was increased (P = 0.02) by supplementation, but was not different between DDGS, COMM, and BAR+CM treatments. Ruminal pH was not affected (P = 0.20) by treatment diet, but rumen ammonia-N was increased (P < 0.01) by supplementation. The potentially degradable and undegradable forage fractions were affected (P < 0.02) by supplementation, reducing the extent of forage degradation. Also, there was a tendency (P = 0.06) for the rate of forage DM degradation to increase when supplements were fed. The results of these experiments indicate that wheat-based DDGS can be used as a supplement for beef cows consuming forages with similar or greater effects compared to a commercial pellet and barley grain. DDGS had similar effects on rumen metabolism as the commercial range pellet or barley grain and canola meal, suggesting DDGS can be substituted on a unit basis with these supplements. As such, the inclusion of wheat-based DDGS as a supplement for beef cows will depend on the initial price of the supplement

Starting off with an apology : paving the way to consumer persuasion?

Apologies usually follow a notable mistake. However, recently companies have started to apologize in their persuasive communications for committing nothing but a trivial mistake. This article examines whether and why the use of trivial apologies can serve as an effective persuasion technique in direct e-mail campaigns. A field experiment reveals the beneficial impact of a trivial apology on consumers’ behavioral responses. Furthermore, results from three studies show that (1) trivial apologies have a persuasive impact on attitudes and behavioral intentions, (2) a lack of persuasion knowledge activation explains this impact, and (3) disclosing trivial apologies as a persuasion tactic can attenuate this impact. Implications for both marketers and public policy makers are discussed

Annealing of thin 'Tincone' films, a tin-based hybrid material deposited by molecular layer deposition, in reducing, inert, and oxidizing atmospheres

Molecular layer deposition of hybrid organic-inorganic thin films called "tincones" is achieved using tetrakisdimethylaminotin as the metal precursor and glycerol (GL) as the organic reactant. The GL-based process displays linear growth and self-limiting surface reactions in a broad temperature window ranging from 75 to 200 degrees C. At higher temperatures, no film growth is possible. The growth per cycle decreases rapidly with increasing temperature from 1.3 angstrom(with numbers) at 75 degrees C to less than 0.1 angstrom at 200 degrees C. The films are observed to be smooth with scanning electron microscopy and atomic force microscopy. The hybrid organic-inorganic nature of the films is visible in both infrared spectroscopy and x-ray photoelectron spectroscopy. As deposited tincone films are annealed in reducing (H-2), inert (He), or oxidizing (O-2) atmospheres. In situ x-ray diffraction is employed to study the crystallization of the films during annealing. Tincone films annealed in reducing or inert atmosphere crystallize into a tetragonal SnO phase at 388 and 410 degrees C, respectively. These temperatures are lower than the crystallization temperature of 480 degrees C for atomic layer deposition (ALD) tin oxide films annealed in H-2. Tincone films annealed in oxygen crystallize into an SnO2 phase at a temperature of 523 degrees C, which is similar to the crystallization temperature for ALD tin oxide films annealed in He or O-2. This reduced temperature for crystallization into SnO for the tincone films is interesting since SnO is one of the few metal oxides known as a p-type semiconductor material

Pension reform in an OLG model with heterogeneous abilities

We study the effects of pension reform on hours worked, human capital, income and welfare in an open economy populated by four overlapping generations: three active generations (the young, the middle aged and the older) and one generation of retired. Within each generation we distinguish individuals with high, medium or low ability to build human capital. Our simulation results prefer a pay-as-you-go pension system with a particular earnings-related linkage above a fully-funded private system. This pay-as-you-go system conditions pension benefits on past individual labor income, with a high weight on labor income earned when older and a low weight on labor income earned when young. Uncorrected, however, such a system implies welfare losses for current low-ability generations and rising inequality. Complementing or replacing it by basic and/or minimum pension components is negative for aggregate employment and welfare. Better is to maintain the tight link between individual labor income and the pension also for low-ability individuals, but to strongly raise their replacement rate. An additional correction improving the welfare of low-ability individuals would be to maintain for these individuals equal weights on past labor income

Individual variation in body temperature and energy expenditure in response to mild cold

Department of Human Biology, Maastricht University, 6200 MD Maastricht, The Netherlands. [email protected] We studied interindividual variation in body temperature and energy expenditure, the relation between these two, and the effect of mild decrease in environmental temperature (16 vs. 22 degrees C) on both body temperature and energy expenditure. Nine males stayed three times for 60 h (2000-0800) in a respiration chamber, once at 22 degrees C and twice at 16 degrees C, in random order. Twenty-four-hour energy expenditure, thermic effect of food, sleeping metabolic rate, activity-induced energy expenditure, and rectal and skin temperatures were measured. A rank correlation test with data of 6 test days showed significant interindividual variation in both rectal and skin temperatures and energy expenditures adjusted for body composition. Short-term exposure of the subjects to 16 degrees C caused a significant decrease in body temperature (both skin and core), an increase in temperature gradients, and an increase in energy expenditure. The change in body temperature gradients was negatively related to changes in energy expenditure. This shows that interindividual differences exist with respect to the relative contribution of metabolic and insulative adaptations to cold