The Poverty of Wealth and Income in the United States

An alternative poverty rate was calculated using poverty thresholds from the U.S. Census Bureau to assess income poverty and a similar set of thresholds at four months’ of the poverty threshold for annual income to assess wealth (i.e. net worth) poverty. Using point estimates derived from the multiple imputations of the Survey of Consumer Finances (SCF) between the years of 1989 and 2007, the findings revealed the percentage of households in poverty by both measures was 6% in 2007 compared to 11.1% of households experiencing poverty of income only and 22.4% experiencing a poverty of at least one of the measures. The author assessed the demographics of the households experiencing poverty of both income and wealth and found a larger racial gap for African Americans and Hispanics than income poverty alone, support for the lifecycle hypothesis, and the importance of home ownership in lower poverty rates among other factors

Wage Determination in Russia: An Econometric Investigation

Using a firm level dataset from four regions of Russia covering 1996/97, an investigation was carried out into how the surplus created within the firm is divided between profits and wages. An efficient bargaining framework based on the work of Svejnar (1986) is employed which takes into account the alternative wage or outside option available to employees in the firm as well as the value added per employee. Statistical differences in the share of the surplus taken by employees employed in state, private and mixed forms of firms are found. In addition, the results prove sensitive to the presence of outliers and influential observations. A variety of diagnostic methods are employed to identify these influential observations and robust methods are employed to lessen the influence of them. Whereas in practice some of the diagnostic and robust methods utilised proved incapable of identifying or accommodating the gross outlier(s) in the data, the more successful methods included robust regression, Winsorising, the Hadi and Siminoff algorithm, Cook's Distance and Covratio.http://deepblue.lib.umich.edu/bitstream/2027.42/39679/3/wp295.pd

Performance and materials aspects of Ge:Be photoconductors

Ge:Be photoconductors were developed for low photon background applications in the 30 to 50 MM wavelength region. These detectors provide higher responsivity and lower noise equivalent power (NEP) than the Ge:Ga detectors currently operating in this wavelength range. Beryllium doped single crystals were grown by the Czochralski method from a carbon susceptor under a vacuum of approx. one million torr. An optimum detective quantum efficiency of 46% at a background flux of 1.5 x 10 to the 8th power photons/second (7 x 10 to the 13th power W) was reported. Ge:Be detector performance is strongly influenced by the absolute concentrations and the concentration ratio of residual shallow donors and shallow acceptors

On Uneven Ground: How Corporate Governance Prioritizes Short-term Speculative Investments, Impedes Productive Investments, and Jeopardizes Productivity Growth

The economic recovery after the Great Recession highlighted a continuous divergence between soaring profits and lagging investment. These trends are related at the corporate level, where corporate managers have stronger incentives to pursue short-term profit-seeking activities than to invest in longer-term productive activities, such as hiring and training people and investment in physical infrastructure. This prioritization results because the corporate governance system is biased towards the short run. The policy goals that we discuss aim to find a better economic balance between short-run and long-run goals by defining long-term performance measures and finding a better balance in the incentives of short-run and long-run oriented corporate stakeholders.Business investment; corporate governance; short-term speculation; long-term productivity growth

Wage Determination in Russia: An Econometric Investigation

Using a firm level dataset from four regions of Russia covering 1996/97, an investigation was carried out into how the surplus created within the firm is divided between profits and wages. An efficient bargaining framework based on the work of Svejnar (1986) is employed which takes into account the alternative wage or outside option available to employees in the firm as well as the value added per employee. Statistical differences in the share of the surplus taken by employees employed in state, private and mixed forms of firms are found. In addition, the results prove sensitive to the presence of outliers and influential observations. A variety of diagnostic methods are employed to identify these influential observations and robust methods are employed to lessen the influence of them. Whereas in practice some of the diagnostic and robust methods utilised proved incapable of identifying or accommodating the gross outlier(s) in the data, the more successful methods included robust regression, Winsorising, the Hadi and Siminoff algorithm, Cook's Distance and Covratio.Russian labour markets, efficient bargaining, outliers, regression diagnostics, robust regression

Wave heating from proto-neutron star convection and the core-collapse supernova explosion mechanism

Our understanding of the core-collapse supernova explosion mechanism is incomplete. While the favoured scenario is delayed revival of the stalled shock by neutrino heating, it is difficult to reliably compute explosion outcomes and energies, which depend sensitively on the complex radiation hydrodynamics of the post-shock region. The dynamics of the (non-)explosion depend sensitively on how energy is transported from inside and near the proto-neutron star (PNS) to material just behind the supernova shock. Although most of the PNS energy is lost in the form of neutrinos, hydrodynamic and hydromagnetic waves can also carry energy from the PNS to the shock. We show that gravity waves excited by core PNS convection can couple with outgoing acoustic waves that present an appreciable source of energy and pressure in the post-shock region. Using one-dimensional simulations, we estimate the gravity wave energy flux excited by PNS convection and the fraction of this energy transmitted upwards to the post-shock region as acoustic waves. We find wave energy fluxes near 10⁵¹ergs⁻¹ are likely to persist for ∼1s post-bounce. The wave pressure on the shock may exceed 10 per cent of the thermal pressure, potentially contributing to shock revival and, subsequently, a successful and energetic explosion. We also discuss how future simulations can better capture the effects of waves, and more accurately quantify wave heating rates