The second article, by Maria Cancian, Eunhee Han, and Jennifer L. Noyes from IRP, draws on data from Wisconsin to look in detail at participation in and disconnection from a number of public sources of support other than TANF cash assistance. The authors’ primary definition of disconnection is no program participation (defined as TANF, Supplemental Nutrition Assistance Program [SNAP], subsidize...

Using Japanese firm data, this paper examines the relationship between firm value and financing decision factors within a free cash flow (FCF) framework. The findings are broadly consistent with the positive tax benefits hypothesis. We find that in firms leverage is positively related to firm value and dividends are negatively related to firm value during the sample period, 1985 to 1996. The re...

In the research literature on UK take-overs there seems to be an apparent conundrum. First, it appears that, in general, the market anticipates overall equity cash flow gains from a take-over in the sense that the share price of the acquiree firm typically increases relative to some appropriately market-adjusted benchmark over the period of time from the announcement of the take-over to the dat...

This study estimates 2007 national poverty rates using an approach largely conceptualized by a 1995 National Academy of Sciences panel and similar to the supplemental poverty measure that will soon be produced by the U.S. Census Bureau. The study uses poverty thresholds based on expenditures for shelter, food, clothing, and utilities, as well as a measure of family income that includes earnings...

Recent studies on food stamp participant households’ marginal propensity to spend out of food stamps versus income have had contradictory results: experimental studies have found household behavior aligns with standard economic theory where households’ marginal propensity to spend on food out of food stamps is equivalent to cash income; observational studies find that households have a larger m...

The recent interest in the valuation of tax benefits from debt arises from the disagreement in the existing literature about the meaning of “value of tax shields.” Although it is accepted that the value of a firm increases as effect of the tax deductibility of interest, the correct valuation of this extra-value is controversial. In this paper we adopt a risk-neutral approach to derive a general...

The Effect of Sanctions on the Job Finding Rate: Evidence from Denmark This paper investigates the effect of sanctions of unemployment insurance benefits on the exit rate from unemployment for a sample of Danish unemployed. According to the findings are that even moderate sanctions have rather large effects. For both males and females the exit rate increases by more than 50% following impositio...

Our paper provides an explanation why cost-of-living adjustment (COLA) provisions and their characteristics vary widely across U.S. industries. We develop models of optimal risk sharing between a firm and union to investigate the determinants of a number of contract characteristics. These include the presence and degree of wage indexing, the magnitude of deferred noncontingent wage increases, c...

INTRODUCTION: Soybean offers a variety of potential benefits to the production systems, diets, and incomes of smallholder producers. In addition to being a potentially profitable cash crop, the high protein content (about 40%) in soybean means it could also contribute to improved nutritional status of rural households. Finally, soybean also has potential agronomic benefit of rejuvenating soils ...

*Office of Research, Statistics, and International Policy, Office of Policy. Social Security Administration. made to replace such lost income totaled $16.4 billion, or 36 percent of the loss. This degree of protection against income loss from short-term sickness has been about the same since 1970. The number of workers protected by formal plans providing cash benefits for sickness in 1983 rose ...