A preliminary Monte-Carlo analysis of the reflection of an imploding hemispherical shock wave similar to that generated in the UTIAS implosion driven hypervelocity launcher or shock tube

Cold wall and multibody collision effects on reflection of imploding shock waves using Monte Carlo method and molecular dynamic

When Will the Gender Gap in Retirement Income Narrow?

Among recent retirees, women receive substantially less retirement income from Social Security and private pensions than men. Increases in women's labor market attachment and earnings relative to men over the past 50 years provide some optimism for an improvement in female retirement income, particularly for married women. This study shows that women's income from Social Security and private pensions has improved only slightly relative to men over the past 25 years. Using data on people approaching retirement age over the next 20 years, prospects for future improvement are investigated. One of the main conclusions is that pension income among women (particularly married women) will rise sharply relative to men's over the next few decades, but a substantial gap could remain even if women close the gap in experience and salaries.

Wages, racial composition, and quality sorting in labor markets

This paper examines the relationship between wage rates and the racial composition of jobs, using large cross-sectional and longitudinal samples constructed from monthly Current Population Surveys for 1983-92. Support is found for a "quality sorting" model that posits an equilibrium in which the racial composition of jobs serves as a skill index of unmeasured labor quality. Estimation of standard wage-level equations shows that wages of both black and white workers are substantially lower in occupations with a high density of blacks. Consistent with the quality sorting hypothesis, the magnitude of the relationship is reduced sharply after accounting for occupational skill measures. Longitudinal wage-change estimates controlling for person-specific quality indicate little if any causal effect of racial composition on wages. Estimates of racial discrimination are reduced only moderately after accounting for racial composition; unexplained differentials occur within occupations or reflect inter-occupational differences uncorrelated with racial composition and occupational skill measures.

The Impact of Rising 401(k) Pension Coverage on Future Pension Income

Using data from the 1992 Health and Retirement Survey and the 1992 Survey of Consumer Finances, this study compares the level of benefits in 401(k), non-401(k) defined contribution (DC), and defined benefit (DB) plans. Based on current pension information regarding pension contribution rates or benefit formulas, it is shown that a shift to 401(k) plans will reduce the average level of pension benefits for low income workers but have relatively small effects on middle and high income workers. A shift to 401(k) plans would also increase the variance of benefits among low income workers, though the effect would be negligible for middle and high income workers.pension plan; defined benefit; defined contribution

The Growth of Participant Direction in Defined Contribution Plans

Since 1990, most pension plans have shifted the responsibility for directing pension assets to the employee. This study summarizes some of the possible explanations for this rapid shift toward participant direction and uses IRS Form 5500 data to investigate the effect of worker and plan characteristics on the likelihood of making a switch. The study also estimates the effect of a switch to participant direction on employee contribution and asset allocation behavior. The analysis reveals that collective bargaining and pension investments in employer stock reduce the chance of a switch to participant direction, whereas below average return performance increases the chance. Also, a switch to participant direction increases employee contributions to the pension and reduces the share of assets invested in employer securities.participant direction, pensions, employer stock

Affinity Programs and the Real Estate Brokerage Industry

This study surveys active real estate brokers obtaining information on involvement in affinity programs and referral/relocation networks. Some results regarding affinity involvement are: (a) 13% of respondents reported affinity affilliations, 75% reported no affiliations, and 12% indicated plans to become involved within the next year; (b) about half having affinity affiliations were involved with 2-4 groups; (c) affinity relationships were most often with membership organizations, corporations, and professional organizations; (d) the primary affinity benefits provided were commission reductions, special mortgage packages, and discounted closing services; (e) 38% of respondents reported an increase in profitability die tp affinity affiliation while 21% reported a decrease; and (f) 56% reported an increase in agent productivity. An empirical income model shows that affinity affiliation has a positive effect on broker income. The probit models shows that: (a) participation in affinity arrangements is more likely for larger firms and national franchises but is not sensitive to location; and (b) large firms are more likely to participate in a larger number of affinity relationships.

Is Bigger Still Better? The Decline of the Wage Premium at Large Firms

This study shows that the wage premium paid by large firms fell over the past 20 years and that the decline in the size premium has been most pronounced among the least educated work force. Empirical evidence supports several explanations for the decline in the size premium. First, there has been a convergence in the returns to worker characteristics at large and small firms over time. Second, there has been a convergence in the types of workers employed at small and large firms. Particularly important have been changes in the distribution of workers across industries and the greater rate of decline in unionism at large firms.firm size, wages, fringe benefits

When Will the Gender Gap in Retirement Income Narrow?

Among recent retirees, women receive substantially less retirement income from Social Security and private pensions than men. Increases in women’s labor market attachment and earnings relative to men over the past 50 years provide some optimism for an improvement in female retirement income, particularly for married women. This study shows that women’s income from Social Security and private pensions has improved only slightly relative to men over the past 25 years. Using data on people approaching retirement age over the next 20 years, prospects for future improvement are investigated. One of the main conclusions is that pension income among women (particularly married women) will rise sharply relative to men’s over the next few decades, but a substantial gap could remain even if women close the gap in experience and salaries.

Determinants and Effects of Employer Matching Contributions in 401(k) Plans

This paper uses data from the April 1993 Pension Supplements to the Current Population Survey to investigate the impact of employer matching and employee tenure on participation levels in 401(k) plans. While earlier studies examine similar issues, this study makes several advances. First, consistent with the theory that employers may use matching contributions to satisfy nondiscrimination rules, the study shows that correcting for the endogeneity of employer matching substantially increases the estimated effect of matching on participation levels. Second, the study provides evidence that the large positive association between employee tenure and 401(k) participation is because 'stayers' tend to be 'savers'.