Finance

Do Changes in Pension Incentives Affect Retirement? A Longitudinal Study of Subjective Retirement Expectations

Do Changes in Pension Incentives Affect Retirement? A Longitudinal Study of Subjective Retirement Expectations
Journal of Public Economics, July

Chan, S. & Stevens, A.H.
01/01/2004

This paper investigates the responsiveness of individuals’ retirement decisions to forward-looking measures of pension accumulations. In contrast to previous research, we use within-person variation in retirement incentives and are able to control for unobserved heterogeneity in tastes for retirement by studying a panel of subjective retirement expectations. We confirm that individuals do respond as expected to pension incentives, even when we control for individual fixed effects. However, the magnitude of these responses differs when estimated from models based on within-person versus cross-sectional variation: the inclusion of fixed effects reduces the response by about half.

Governmental and Not-for-Profit Accounting

Governmental and Not-for-Profit Accounting
Fifth Edition, by Ives, Razek, and Hosch, and Ives, Prentice-Hall (Fourth edition has been published in Chinese).

Ives, M., Razek, J. & Hosch, G.
01/01/2004

For use in Governmental Accounting, Not-for-Profit Accounting and Public Administration courses.
Covering the essentials of fund accounting and financial reporting, this flexible book introduces the reader to the basic accounting and reporting principles at work in both governmental and not-for-profit organizations. This easy-to-read book divides most of the chapters into independent sections, which may be covered as separate units.

Health Services Management: Readings, Cases and Commentary

Health Services Management: Readings, Cases and Commentary
Chicago: Health Administration Press, 8th edition,

Kovner, A.R. & Neuhauser, D.
01/01/2004

Managers of a healthcare organization have numerous demands on their time, their skills, their knowledge, and their budgets. They are responsible for adapting to change, managing their office, making effective decisions, among countless other tasks. This text-newly revised to include readings, commentary, and cases-offers a bridge from management theory to the actual world of healthcare management that will help your students learn the role of manager in a healthcare organization.

Throughout its past editions, Health Services Management has featured the best literature on health services management to help learners understand the role of the manager, organizational design and control, the blending of organization and health professionals, change (adaptation), and responsiveness (accountability). This new edition continues that effort, and features new readings and classroom-tested cases.

The cases take place in a variety of organizations, including a faculty practice, a neighborhood health center, a small rural hospital, an HMO, as well as a variety of other settings. This book will prepare your future managers for the multitude of healthcare settings they could face in their careers.

How Does Job Loss Affect the Timing of Retirement?

How Does Job Loss Affect the Timing of Retirement?
Contributions to Economic Analysis & Policy 2004: Vol. 3: No. 1, Article 5.

Chan, S. & Stevens, A.H.
01/01/2004

This paper estimates the extent to which reduced employment following job loss among older workers can be explained as a response to altered pension incentives and earnings opportunities. Using data from the Health and Retirement Study, we first examine how workers’ earnings, assets, pensions and the resulting financial incentive to retire are affected by job loss. We find important effects of job loss on the main financial components of workers’ incentive to retire. We then examine retirement behavior after job loss, controlling for these changed retirement incentives, along with any additional effects of displacement not captured by retirement incentives. We find that the observed increased rates of retirement among displaced workers go far beyond these purely financial considerations. Very little of the reduced employment among older job losers can be explained by changes in wages and pension-related retirement incentives. Other barriers to reemployment may be more important explanations for the low employment rates of recently displaced older workers.

Managing Tradeoffs

Managing Tradeoffs
in ID21, August 2004 issue. Special issue on "What role for microfinance? Reframing the questions."

Morduch, J.
01/01/2004

Achieving both profitability and strong social performance is the ultimate promise of microfinance. It is not impossible, but neither is it easy and few microlenders are there yet. Ten years ago it had been hoped that achieving both goals would simply be a matter of raising interest rates on loans. If borrowers were willing to pay, say, 50% interest per year for a loan, rather than 30%, the microlender’s profits would see an immediate boost, and, it was hoped, the well-being of clients would not be seriously hurt. Both parts of the claim are true up to a point, but increasing interest rates too high can bring financial and political difficulty and risk undermining social impacts.

Microfinance: Where Do We Stand?

Microfinance: Where Do We Stand?
Chapter included in Charles Goodhart, editor, Financial Development and Economic Growth: Explaining the Links. Basingstoke, Hampshire, UK: Palgrave Macmillan,

Morduch, J. & Armendariz de Aghion, B.
01/01/2004

The most successful economies have the best working financial markets. While causation obviously runs in both directions, current research has increasingly emphasized the role of finance in promoting growth. Here seven leading financial economists explore the links between financial development and growth. The book seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.

Reorganizing Primary Care at Mount Sinai Hospital

Reorganizing Primary Care at Mount Sinai Hospital
Health Services Management: Readings, Cases and Commentary, 8th ed.  Chicago, Health Administration Press,

Kovner, A.R. & Neuhauser, D.
01/01/2004

Managers of a healthcare organization have numerous demands on their time, their skills, their knowledge, and their budgets. They are responsible for adapting to change, managing their office, making effective decisions, among countless other tasks.

This text�newly revised to include readings, commentary, and cases�offers a bridge from management theory to the actual world of healthcare management.

Throughout its past editions, Health Services Management has featured the best literature on health services management to help readers understand the role of the manager, organizational design and control, the blending of organization and health professionals, change (adaptation), and responsiveness (accountability). This new edition continues that effort, and features new readings.

The cases take place in a variety of organizations, including a faculty practice, a neighborhood health center, a small rural hospital, an HMO, as well as a variety of other settings.

Social and Environmental Dimensions of Cutting-Edge Infrastructures

Social and Environmental Dimensions of Cutting-Edge Infrastructures
in Moving People, Goods and Information in the 21st Century, edited by R. Hanley. UK: Routledge, pages 181-202.

Zimmerman, R.
01/01/2004

Globalization and technological innovation have changed the way people, goods, and information move through and about cities. To remain, or become, economically and environmentally sustainable, cities and their regions must adapt to these changes by creating cutting-edge infrastructures that integrate advanced technologies, communications, and multiple modes of transportation.

The book defines cutting-edge infrastructures, details their importance to cities and their regions, and addresses the obstacles - technical, jurisdictional, financial, and social - to creating those infrastructures. Additionally, it explores issues behind the creation of new infrastructures: their integrated, technical components, the decision making involved in their creation, and the equity and environmental questions they raise.

 

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