Welfare Benefits And Work Incentives: The Distribution Of Net Replacement Rates In Europe Using A Cross Country Microsimulation Model, EUROMOD

This paper considers the methodology of measuring replacement rates, comparing simulation based approaches, which simulate replacement rates for a representative sample of the population, with other approaches that simulate replacement rates for typical families or are entirely based on recorded household data. We emphasise the advantages of the first method. Utilising a cross-country microsimulation model for Europe, EUROMOD, we generate the distribution of replacement rates for four European countries, Denmark, France, Spain and the UK. In particular we show the important role of household composition and the presence of other household members' incomes in preserving the standard of living while out of work. We argue that, given this strong influence of primary incomes, replacement rates are not necessarily the best indicator of the impact of the taxbenefit system in this respect. To isolate the effects of the tax-benefit system on both work incentives and the degree of social protection for the out-of-work population, we therefore introduce a new measure, the tax-benefit-to-earnings ratio.European Union, Microsimulation, Net Replacement Rate, Unemployment Benefits, Work Incentives

Identifying and Reducing Overlap in Farm Program Support

The current debate surrounding the 2012 Farm Act stresses cutting costs while maintaining, or even strengthening, farmers’ “safety net.” One way to cut costs is to reduce or eliminate potential overlap of farm program payments. Using simulations, we explore the interaction between the Average Crop Revenue Election (ACRE) program and a revenue assurance (RA) crop insurance program for corn, soybean, and wheat farmers in IL, MN, and SD. Additionally, we examine whether receiving benefits from multiple programs (an RA program, the Supplemental Revenue (SURE) program, and an ad hoc disaster assistance program) distorts farmers’ business decisions. We find overlap between ACRE and crop insurance, which could lead to budgetary savings if these two programs were to be integrated. Moreover, despite policymakers explicitly incorporating insurance indemnities into SURE payment calculations, access to both programs can alter behavior. Finally, in a counter-factual analysis, we show that removing ad hoc payments from the SURE would likely alter farm behavior.commodity support, average crop revenue election, Supplemental Revenue Assistance, expected utility, corn, wheat, soybeans, Agricultural and Food Policy, Production Economics, Risk and Uncertainty,

Diabetes in Malta : current findings and future trends

Diabetes is a considerable global problem. Recent projections suggest that at least 194 million people suffer from diabetes worldwide. The World Health Organization suggests this number will increase to 333 million by 2025. Approximately four million deaths each year are caused by diabetes-related complications totaling an astounding 9% of deaths worldwide. Currently, epidemiological studies indicate that 1% of the Maltese population suffer from Type I Diabetes Mellitus and 9% from Type II Diabetes Mellitus. Following global predictions, it is probable that the incidence of Type I diabetes will increase also. This article evaluates the current Maltese diabetic care system and conducts a strategic analysis of diabetic practices. Recommendations for a cost-effective standard of care, legislative support for comprehensive diabetic care, and a national policy are proposed.peer-reviewe

What Does Initial Farm Size Imply About Growth and Diversification?

Recent consolidation in agriculture has shifted production toward fewer but larger farms, reshaping business relationships between farmers, processors, input suppliers, and local communities. We analyze growth and diversification of U.S. corn, wheat, apple, and beef farms by examining longitudinal changes in 10 size cohorts through three successive censuses. We fail to reject Gibrat’s law in apple and wheat industries and the mean reversion hypothesis in beef and corn industries. Apple and wheat farms diversify over time. The findings suggest that scale economies diminish for large farms across all four industries and scope economies dominate scale economies for large apple and wheat farms.diversification, firm growth, Gibrat’s law, longitudinal data, scale economies, scope economies, Agribusiness, Farm Management, Production Economics, Q12,

Do the Largest Firms Grow and Diversify the Fastest? The Case of U.S. Dairies

We analyze growth and diversification of U.S. dairy farms by examining changes in ten size cohorts and new entrants through three successive censuses. We reject Gibrat’s law and the mean reversion hypothesis of growth. Growth rates appear bimodal where the smallest and largest farm cohorts grow fastest. All cohorts diversify but the largest farms do not diversify as rapidly as medium-sized farms. New entrants are generally large, and they diversify more rapidly than comparably-sized incumbents. These data suggest that scale economies persist even for the largest cohort of U.S. dairy farms and scale economies dominate scope economies for large farms.: census, dairy, diversification, growth, scale, scope

Do the Largest Firms Grow the Fastest? The Case of U.S. Dairies

Replaced with revised version of paper 06/29/07.Livestock Production/Industries, Productivity Analysis,

What does Initial Farm Size Imply About Growth and Diversification?

Recent consolidation in agriculture has shifted production toward fewer but larger farms, reshaping business relationships between farmers, processors, input suppliers, and local communities. We analyze growth and diversification of U.S. corn, wheat, apple, and beef, farms by examining longitudinal changes in ten size cohorts through three successive censuses. We fail to reject Gibrat’s law in apple and wheat industries and the mean reversion hypothesis in beef and corn industries. Apple and wheat farms diversify over time. Findings suggest that scale economies diminish for large farms across all four industries and scope economies dominate scale economies for large apple and wheat farms.firm growth, diversification, scale economies, scope economies, Gibrat’s law, longitudinal data

The Nature of Risk Preferences: Evidence from Insurance Choices

We use data on households' deductible choices in auto and home insurance to estimate a structural model of risky choice that incorporates "standard" risk aversion (concave utility over final wealth), loss aversion, and nonlinear probability weighting. Our estimates indicate that nonlinear probability weighting plays the most important role in explaining the data. More specifically, we find that standard risk aversion is small, loss aversion is nonexistent, and nonlinear probability weighting is large. When we estimate restricted models, we find that nonlinear probability weighting alone can better explain the data than standard risk aversion alone, loss aversion alone, and standard risk aversion and loss aversion combined. Our main findings are robust to a variety of modeling assumptions.

A study of fuel spray structure and its relationship to emissions and performance of a gasoline direct injection engine

The research reported in this thesis is one of three linked investigations aimed at improving the understanding of the flow and fuel/air mixing processes that occur within direct injection gasoline engines through the application of both experimentation and modelling techniques. The components of work covered by this thesis are an investigation into the structure of fuel sprays from four different high-pressure swirl injectors, and a subsequent investigation of how two of them perform in a single-cylinder direct injection gasoline engine. The fuel injectors were initially tested on a rig in the UCL fuel systems test facility. Two different experiments were carried out to obtain a significant amount of information about each of the injectors' sprays under various conditions. High-speed photography using a copper vapour laser for illumination was employed to capture details of the spray structures, as well as penetration rates and cone angles. In a separate series of tests, droplet sizes were obtained using a Malvern particle sizer. A tomographic technique was developed in an attempt to deconvolve the spray structure. A statistical design of experiment approach was used because of the large number of variables to be investigated during the engine testing. Two designs of injectors were tested in two positions for two different fuel pressures. For each arrangement, a Central Composite Rotatable Design of experiment was employed for four variables at five levels. The variables were inlet valve timing, fuel injection timing, ignition timing and air/fuel ratio. The results of these tests were modelled by regression analysis using quadratic functions, which included the possibility of interactions between pairs of variables. The measured engine responses were unbumt hydrocarbons (HC) emissions, oxides of nitrogen emissions (NOx), brake specific fuel consumption (BSFC) and exhaust gas temperature. The results from the engine and injector testing suggest that there is a strong, yet complex interaction between the fuel spray structure and the engine performance

Farm Growth, Consolidation, and Diversification: Washington Dairy Industry

Farm Management, Q12,