The economic status of the elderly improved greatly since the 1960s. This is true in terms of poverty rates, real cash income and broader income measures that include in-kind benefits. Yet, many older Americans remain at risk of economic deprivation, especially the less educated, those living alone, and the oldest old. Most elderly Americans rely heavily on Social Security and Medicare for th...

Data in table 1 give the actual or estimated number of persons covered at the end of 1965 for hospital care, surgical service, and physician inhospital visits by the Blue Cross and Blue Shield plans, by insurance companies, and by the independent plans. “Covered” means having some health insurance protection against the cost of these services. Benefits may be in the form of entitlement to servi...

This article marks the fifteenth year that the Social Security Administration has reported on the extent of income-loss protection against the risk of short-term illness through public and private cash-sickness plans. Prom 1948 through 1959, this protection showed a steady growth, but since then benefits as a proportion of lost earnings have fluctuated, with little overall increase in the exten...

Although American workers received substantially greater benefits in 1963 than euer before under private a,nd public cash sickness plans, the ,replacenzent of aggregate earnings lost because of short-tewn sickness has leve7cd off at slightly less than 30 percent in recent years. These and other developments of the 15 yea,rs since 1948, when the Social Security Ad&n&ration began co77ecti~~g stat...

BACKGROUND There is general consensus internationally that unfair distribution of the benefits of research is exploitative and should be avoided or reduced. However, what constitutes fair benefits, and the exact nature of the benefits and their mode of provision can be strongly contested. Empirical studies have the potential to contribute viewpoints and experiences to debates and guidelines, bu...

Executive summary. The current low-yield environment has led many bond investors to ask whether they should prepare for an eventual rebound in yields by purchasing individual bonds. The potential benefits of this strategy are often exaggerated. More important is that, for most bond investors, bond mutual funds and their exchange-traded fund (ETF) counterparts provide a number of advantages over...

Does sensible retirement planning call for funding basic needs with less volatile assets and investing more aggressively for aspirational goals? Or, with client goals clearly defined and prioritized, does sensible planning call for a total returns approach? Multiple schools of thought have emerged, but there is not yet any consensus about what constitutes a proper retirement income floor. These...

We extend the Barth, Cram, and Nelson (2001) model with disaggregated accruals by investigating whether cash flow components (core and non-core cash flows) improve cash flow predictability. BCN investigate the role of accrual components in predicting future cash flows while this study extends their study by investigating the role of cash flow components. We propose a cash flow prediction model ...

this study investigates empirically the value investors place in excess cash holdingand how managerial ability impact on the value of cash holding for iranianfirms from 2006 to 2014. in this research, managerial ability calculated by usingthe data envelopment analysis (dea). following the approach of faulkender andwang, we find that the relation between managerial ability and value of cash hold...

L Finitely many growth options 30 L.1 Optimal policy in the waiting period . . . . . . . . . . . . . . . . . . . . . . 31 L.2 Optimal strategy for a firm with a growth option . . . . . . . . . . . . . . . 34 L.3 Proofs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 L.4 Solution to Problem 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 L.5 Solu...