scholarly journals Tax-Deductible Pre-Event Catastrophe Loss Reserves: The Case of Florida

2008 ◽  
Vol 38 (01) ◽  
pp. 13-51 ◽  
Author(s):  
Andreas Milidonis ◽  
Martin F. Grace
Keyword(s):  
Consumer Behavior ◽  
Social Welfare ◽  
Expected Loss ◽  
Welfare Gains ◽  
Hurricane Andrew ◽  
Loss Distribution ◽  
The Social ◽  
Welfare Implications ◽  
The U.S

After Hurricane Andrew the U.S. Congress entertained proposals to allow insurers to employ tax-deferred loss reserves. Interest was strong at first, but as the events receded interest waned. However, after the most recent severe hurricane seasons the proposals are again being discussed. In this paper we examine the institution of catastrophe loss reserves in a stylized model of insurance provisions. First, we find that the benefits of the tax-deferred loss reserves depend on the actuarial assumptions regarding the expected loss distribution. Second, we make the first attempt at estimating the change in consumer behavior and the social welfare implications for permitting tax deferred loss reserves. In sum, we find under specific circumstances there are large welfare gains for allowing the tax deferral of reserves.

scholarly journals Tax-Deductible Pre-Event Catastrophe Loss Reserves: The Case of Florida

2008 ◽  
Vol 38 (1) ◽  
pp. 13-51 ◽  
Author(s):  
Andreas Milidonis ◽  
Martin F. Grace
Keyword(s):  
Consumer Behavior ◽  
Social Welfare ◽  
Expected Loss ◽  
Welfare Gains ◽  
Hurricane Andrew ◽  
Loss Distribution ◽  
The Social ◽  
Welfare Implications ◽  
The U.S

After Hurricane Andrew the U.S. Congress entertained proposals to allow insurers to employ tax-deferred loss reserves. Interest was strong at first, but as the events receded interest waned. However, after the most recent severe hurricane seasons the proposals are again being discussed. In this paper we examine the institution of catastrophe loss reserves in a stylized model of insurance provisions. First, we find that the benefits of the tax-deferred loss reserves depend on the actuarial assumptions regarding the expected loss distribution. Second, we make the first attempt at estimating the change in consumer behavior and the social welfare implications for permitting tax deferred loss reserves. In sum, we find under specific circumstances there are large welfare gains for allowing the tax deferral of reserves.

Big Collusion

2016 ◽  
pp. 127-144
Author(s):  
Garry Robson ◽  
C. M. Olavarria
Keyword(s):  
Consumer Behavior ◽  
Insufficient Attention ◽  
Individual Privacy ◽  
Digital Surveillance ◽  
Financial Benefits ◽  
The Social ◽  
The Government ◽  
Relationship Of ◽  
The U.S

In the post-Snowden digital surveillance era, insufficient attention has been paid to the role of corporations and consumers in the onslaught on digital privacy by the largest surveillance state – the U.S. The distinction between corporations and the government is increasingly difficult to pinpoint, and there exists an exclusive arrangement of data sharing and financial benefits that tends towards the annihilation of individual privacy. Here the role of consumers in facilitating this alliance is examined, with consideration given to the “social” performances treated as free and exploitable data-creating labor. While consumers of the digital economy often assume that everything should be free, the widespread tendency to gratify desires online inevitably leads to hidden costs and consequences. The permanent data extracted from consumer behavior helps agencies sort and profile individuals for their own agendas. This trilateral relationship of ‘Big Collusion' seems to have gained an irreversibly anti-democratic momentum, producing new transgressions of privacy without proper consent.

scholarly journals Towards a political economy of welfare in Croatia

2019 ◽  
Vol 64 (223) ◽  
pp. 105-136
Author(s):  
Paul Stubbs
Keyword(s):  
Political Economy ◽  
Social Welfare ◽  
Family Values ◽  
The European Union ◽  
The World Bank ◽  
The Social ◽  
Welfare Implications ◽  
The Impact ◽  
Font Color

A political economy of social welfare in Croatia explores drivers of, and impediments to, change, addressing the impact of processes of neo-liberalisation, the complexities of regulatory and institutional landscapes and the interactions of nation, familialism, and class. Instead of a stable welfare regime, Croatia?s welfare system is marked by hybridity in the context of a political economy that continues to be crisis- prone. This paper focuses on the social welfare implications of the mix of ?crony?, ?authoritarian? and ?predatory? capitalism present in Croatia since independence. Other than the role of international actors including the World Bank and the European Union, and notwithstanding the lack of political will for reform, we suggest that two broad forces are dominant in shaping social welfare in Croatia. The first is war veterans? associations and their supporters, keen to maintain and even extend their significant benefits in return for continued support for the HDZ party (Croatian Democratic Union), a quasi-institutionalised form of ?social clientelism?. The second is an empowered radical right, promulgating a conservative Catholic agenda of a return to ?traditional? - that is, heteronormative - family values, reinforcing an aggressive Croatian nationalism and advocating ?demographic renewal?. <br><br><font color="red"><b> This article has been corrected. Link to the correction <u><a href="http://dx.doi.org/10.2298/EKA2024131E">10.2298/EKA2024131E</a><u></b></font>

scholarly journals The Out-of-State Tuition Distortion

2019 ◽  
Vol 11 (1) ◽  
pp. 317-350
Author(s):  
Brian Knight ◽  
Nathan Schiff
Keyword(s):  
Simple Model ◽  
Geographic Distribution ◽  
Public Universities ◽  
Social Planner ◽  
State Governments ◽  
Welfare Gains ◽  
Sufficient Statistic ◽  
The Social ◽  
Welfare Implications ◽  
Using Data

Public universities typically charge much higher tuition to nonresidents. We first investigate the welfare implications of this tuition gap in a simple model. While the social planner does not distinguish between residents and nonresidents, state governments nonresidents. The welfare gains from reducing the tuition gap can be characterized by a sufficient statistic relating out-of-state enrollment to the tuition gap. We estimate this sufficient statistic via a border discontinuity design using data on the geographic distribution of students by institution. (JEL H75, I22, I23)

Big Collusion

Big Data ◽  
2016 ◽  
pp. 1755-1772
Author(s):  
Garry Robson ◽  
C. M. Olavarria
Keyword(s):  
Consumer Behavior ◽  
Insufficient Attention ◽  
Individual Privacy ◽  
Digital Surveillance ◽  
Financial Benefits ◽  
The Social ◽  
The Government ◽  
Relationship Of ◽  
The U.S

In the post-Snowden digital surveillance era, insufficient attention has been paid to the role of corporations and consumers in the onslaught on digital privacy by the largest surveillance state – the U.S. The distinction between corporations and the government is increasingly difficult to pinpoint, and there exists an exclusive arrangement of data sharing and financial benefits that tends towards the annihilation of individual privacy. Here the role of consumers in facilitating this alliance is examined, with consideration given to the “social” performances treated as free and exploitable data-creating labor. While consumers of the digital economy often assume that everything should be free, the widespread tendency to gratify desires online inevitably leads to hidden costs and consequences. The permanent data extracted from consumer behavior helps agencies sort and profile individuals for their own agendas. This trilateral relationship of ‘Big Collusion' seems to have gained an irreversibly anti-democratic momentum, producing new transgressions of privacy without proper consent.

The Class Analysis of Poverty: Is the Underclass Living off the Socially Available Surplus?

1997 ◽  
Vol 27 (2) ◽  
pp. 381-383 ◽  
Author(s):  
Robert Chernomas ◽  
Ardeshir Sepehri
Keyword(s):  
United States ◽  
United Kingdom ◽  
Social Welfare ◽  
Capital Accumulation ◽  
Recent Article ◽  
The United States ◽  
Class Analysis ◽  
The United Kingdom ◽  
The Social ◽  
The U.S

In a recent article Erik Olin Wright argues that the U.S. underclass is a drain on the socially available surplus and thus a hindrance to capital accumulation. Wright's argument is not supported by available evidence from the United States, Canada, and the United Kingdom on the state's distributive activities. This evidence suggests that the social welfare necessary to sustain the underclass is provided by transfers from wage and salary earners rather than from profit.

scholarly journals A Theory of Migration as a Response to Relative Deprivation

2000 ◽  
Vol 1 (2) ◽  
pp. 131-143 ◽  
Author(s):  
Oded Stark ◽  
Keyword(s):  
Steady State ◽  
Social Welfare ◽  
Relative Deprivation ◽  
Social Outcome ◽  
The Social ◽  
Model Migration ◽  
Specific Configuration ◽  
Welfare Implications ◽  
General Configuration

Abstract We model migration as a response to relative deprivation. We present a specific configuration of incomes in which the process of migration in response to relative deprivation reaches a steady state. However, for the general configuration of incomes we show that it is impossible to prove the existence of a steady state. We study the social welfare implications of the two cases and show that if individuals are left to pursue their betterment, the resulting state falls short of the best social outcome. We present several implications of the model including federalism and the demand for secession.

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