Marital Deduction Formulae—A Planner’s Guide

The marital deduction formula bequest exists principally as a means of minimizing federal estate taxes. Considerations apart from the estate tax, however, have had a substantial effect upon the form of such clauses, and a 1964 pronouncement by the Internal Revenue Service has circumscribed their continued utility. The author examines the basic formula clauses, setting out the characteristics of each, the respects in which they differ, the objectives each is designed to secure, and the factors to be weighed by the draftsman who wishes to utilize a formula bequest to achieve a maximum federal estate tax marital deduction

An empirical examination of the gains in cost-effectiveness from the use of multiple environmental outcome conservation tenders

The production and consumption of environmental goods and services are subject to many of the problems associated with public goods. Due to their non-rival and non-excludable nature, incentives for individuals to invest in their production are often absent. To address this market failure, government agencies have used a number of policy mechanisms to procure the supply of environmental outcomes on behalf of society. Recently, conservation tenders focussing on private land have been a favoured policy instrument used by many government agencies to purchase environmental outcomes in the public interest. The majority of these environmental tenders have focussed on a single environmental outcome. It is contended in this paper that multiple environmental outcomes tenders can be more cost-effective than single outcome tenders as decisions are based on information regarding a wider set of environmental outcomes – a more complete picture. Tenders that focus on more than one outcome capitalise on economies of scope in the production of environmental outcomes, as well as incorporating synergies and trade-offs into decision making. In this paper the results from a synthetic analysis of the benefits derived from running multiple-outcome tenders are compared to single outcome tenders, to empirically estimate potential cost-effectiveness gains. The baseline policy of running a multiple-outcome tender is compared to three alternative policy options: running a single outcome tender, running three single outcome tenders simultaneously, and running three single outcome tenders consecutively. Results indicate that significant cost effectiveness gains can be made by running a multiple-outcome tender compared to the three policy alternatives. These results are analysed, and advantages and limitations of applying multiple-outcome tenders in the field are discussed.Environmental Economics and Policy,

Growing up in Australia: the longitudinal study of Australian children (LSAC)

This report uses National Assessment Program—Literacy and Numeracy (NAPLAN) data in the Longitudinal Study of Australian Children (LSAC) to provide an in-depth understanding of children\u27s development in Australia\u27s current social, economic and cultural environment, thereby contributing to the evidence base for future policy and practice development. The study was conducted in partnership between the Australian Government Department of Families, Housing, Community Services and Indigenous Affairs (FaHCSIA), the Australian Institute of Family Studies (AIFS) and the Australian Bureau of Statistics (ABS), with advice provided by a consortium of leading researchers from research institutions and universities throughout Australia. The study commenced in 2004 with the recruitment of two cohorts: one cohort of 5,107 children aged 0–1 year old (the birth or “B cohort”) and another of 4,983 children aged 4–5 years old (the kindergarten or “K cohort”) and their families across all states and territories of Australia. Interviews comprising different instruments are conducted with families every two years

Single Mother Work and Poverty under Welfare Reform: Are Policy Impacts Different in Rural Areas?

During the 1990s, employment increased and poverty declined for single mothers in rural and urban areas. Our results suggest that, holding demographics constant, changes in welfare and social policy during this decade contributed to employment increases--but not to poverty reduction--for both rural and urban single mothers. If rural and urban demographics had been the same, the policy changes would have increased employment and reduced poverty more in rural areas. Without demographic controls, however, estimated policy impacts were no better in rural places. This suggests that rural demographic changes limited the policy impact on rural single-mother work and poverty.Demographics; Mothers; Policy; Single Mother; Welfare

Application of optical correlation techniques to particle imaging velocimetry

Pulsed laser sheet velocimetry yields nonintrusive measurements of velocity vectors across an extended 2-dimensional region of the flow field. The application of optical correlation techniques to the analysis of multiple exposure laser light sheet photographs can reduce and/or simplify the data reduction time and hardware. Here, Matched Spatial Filters (MSF) are used in a pattern recognition system. Usually MSFs are used to identify the assembly line parts. In this application, the MSFs are used to identify the iso-velocity vector contours in the flow. The patterns to be recognized are the recorded particle images in a pulsed laser light sheet photograph. Measurement of the direction of the partical image displacements between exposures yields the velocity vector. The particle image exposure sequence is designed such that the velocity vector direction is determined unambiguously. A global analysis technique is used in comparison to the more common particle tracking algorithms and Young's fringe analysis technique

A vector scanning processing technique for pulsed laser velocimetry

Pulsed laser sheet velocimetry yields nonintrusive measurements of two-dimensional velocity vectors across an extended planar region of a flow. Current processing techniques offer high precision (1 pct) velocity estimates, but can require several hours of processing time on specialized array processors. Under some circumstances, a simple, fast, less accurate (approx. 5 pct), data reduction technique which also gives unambiguous velocity vector information is acceptable. A direct space domain processing technique was examined. The direct space domain processing technique was found to be far superior to any other techniques known, in achieving the objectives listed above. It employs a new data coding and reduction technique, where the particle time history information is used directly. Further, it has no 180 deg directional ambiguity. A complex convection vortex flow was recorded and completely processed in under 2 minutes on an 80386 based PC, producing a 2-D velocity vector map of the flow field. Hence, using this new space domain vector scanning (VS) technique, pulsed laser velocimetry data can be reduced quickly and reasonably accurately, without specialized array processing hardware

Reframing Agribusiness: Moving from Farm to Market Centric

Agribusiness is moving from farm to market centric, where effective activities anticipate and respond to customers, markets, and the systems in which they function. This evolution requires a broader conceptualization and more accurate definition, to convey a more dynamic, systemic, and integrative discipline, which increasingly is committed to value creation and the sustainable orchestration of food, fiber, and renewable resources. We discuss the forces driving this shift to the market, offer a new and more representative definition of agribusiness, provide models to illustrate some of the most compelling trends, and articulate key elements and implications of those models.agribusiness definition, conceptual models, market centric, market systems, Agribusiness, Marketing, Production Economics,