Nick Zangwill
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199261871
- eISBN:
- 9780191718670
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199261871.001.0001
- Subject:
- Philosophy, Aesthetics
The first chapter addresses the criteria of adequacy of a theory of art. Chapters 2-5 are constructive — they advance a positive view of the nature of art, explore its consequences, and defend it ...
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The first chapter addresses the criteria of adequacy of a theory of art. Chapters 2-5 are constructive — they advance a positive view of the nature of art, explore its consequences, and defend it against objections. The last two chapters are destructive — they argue against other views of the nature of art, and they do so by contrast with the kind of view put forward earlier, and in the light of the groundrules laid down in the first chapter.Less
The first chapter addresses the criteria of adequacy of a theory of art. Chapters 2-5 are constructive — they advance a positive view of the nature of art, explore its consequences, and defend it against objections. The last two chapters are destructive — they argue against other views of the nature of art, and they do so by contrast with the kind of view put forward earlier, and in the light of the groundrules laid down in the first chapter.
Ian G. Roberts
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780195168211
- eISBN:
- 9780199788453
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195168211.001.0001
- Subject:
- Linguistics, Syntax and Morphology
This work provides an analysis of word order and clause structure in Welsh, within the context of a minimalist version of principles and parameters theory. The central issue is the analysis of VSO ...
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This work provides an analysis of word order and clause structure in Welsh, within the context of a minimalist version of principles and parameters theory. The central issue is the analysis of VSO order, the only unmarked clausal order in Welsh. The question is: which values of which parameters of Universal Grammar determine VSO order? Behind this basic descriptive goal, there are two theoretical questions. The first has to do with the conditions of adequacy on parameters: these must be both typologizable and learnable. The second concerns the Extended Projection Principle (EPP). Developing the conception of this principle in Chomsky (2000, 2001), it is concluded that it is a parametrized property of the C-system and/or the I-system, and that it seems to be intrinsically connected to the defective nature of certain functional heads. Successive chapters deal with the analysis of VSO orders, the Welsh Case-agreement system as it applies to both subjects and objects, the ‘verbal noun’, and the nature of the C-system. The last chapter takes up the related but distinct question of the theoretical status of head-movement, arguing that this may be construed as movement to a specifier position followed by morphological reanalysis of adjacent heads. Throughout, Welsh is compared to the other Celtic languages, and to the Romance and Germanic languages. Comparison with Romance is particularly revealing in relation to the agreement system, and comparison with Germanic in relation to C-system.Less
This work provides an analysis of word order and clause structure in Welsh, within the context of a minimalist version of principles and parameters theory. The central issue is the analysis of VSO order, the only unmarked clausal order in Welsh. The question is: which values of which parameters of Universal Grammar determine VSO order? Behind this basic descriptive goal, there are two theoretical questions. The first has to do with the conditions of adequacy on parameters: these must be both typologizable and learnable. The second concerns the Extended Projection Principle (EPP). Developing the conception of this principle in Chomsky (2000, 2001), it is concluded that it is a parametrized property of the C-system and/or the I-system, and that it seems to be intrinsically connected to the defective nature of certain functional heads. Successive chapters deal with the analysis of VSO orders, the Welsh Case-agreement system as it applies to both subjects and objects, the ‘verbal noun’, and the nature of the C-system. The last chapter takes up the related but distinct question of the theoretical status of head-movement, arguing that this may be construed as movement to a specifier position followed by morphological reanalysis of adjacent heads. Throughout, Welsh is compared to the other Celtic languages, and to the Romance and Germanic languages. Comparison with Romance is particularly revealing in relation to the agreement system, and comparison with Germanic in relation to C-system.
James Salzman and J. B. Ruhl
- Published in print:
- 2006
- Published Online:
- January 2007
- ISBN:
- 9780195189650
- eISBN:
- 9780199783694
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195189650.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This essay evaluates wetlands mitigation banking (WMB) as a tool for accomplishing the policy of no net loss of the nation's wetlands. The first part describes the legal and historical background to ...
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This essay evaluates wetlands mitigation banking (WMB) as a tool for accomplishing the policy of no net loss of the nation's wetlands. The first part describes the legal and historical background to wetlands mitigation banking, identifying the expected advantages and highlighting the practical difficulties. The discussion then focuses on the three main limitations of WMB design: ensuring meaningful compliance monitoring, currency adequacy, and exchange adequacy. These theoretical concerns are tested by looking at experiences to date in the field. Finally, key lessons for market-based approaches to watershed protection are drawn out.Less
This essay evaluates wetlands mitigation banking (WMB) as a tool for accomplishing the policy of no net loss of the nation's wetlands. The first part describes the legal and historical background to wetlands mitigation banking, identifying the expected advantages and highlighting the practical difficulties. The discussion then focuses on the three main limitations of WMB design: ensuring meaningful compliance monitoring, currency adequacy, and exchange adequacy. These theoretical concerns are tested by looking at experiences to date in the field. Finally, key lessons for market-based approaches to watershed protection are drawn out.
Nicholas Southwood
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780199539659
- eISBN:
- 9780191594908
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199539659.001.0001
- Subject:
- Philosophy, Moral Philosophy, Political Philosophy
Contractualism has a venerable history and considerable appeal. Yet as an account of the foundations or ultimate grounds of morality it has been thought by many philosophers to be subject to fatal ...
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Contractualism has a venerable history and considerable appeal. Yet as an account of the foundations or ultimate grounds of morality it has been thought by many philosophers to be subject to fatal objections. This book argues otherwise. It begins by detailing and diagnosing the shortcomings of the main existing models of contractualism, ‘Hobbesian’ contractualism (or contractarianism) and ‘Kantian’ contractualism. It then proposes a novel, deliberative model, ‘deliberative contractualism’, based on an interpersonal, deliberative conception of practical reason. It argues that the deliberative model of contractualism represents an attractive alternative to its more familiar rivals and that it has the resources to offer a more compelling account of morality's foundations, one that can do justice to the twin demands of moral accuracy and explanatory adequacy.Less
Contractualism has a venerable history and considerable appeal. Yet as an account of the foundations or ultimate grounds of morality it has been thought by many philosophers to be subject to fatal objections. This book argues otherwise. It begins by detailing and diagnosing the shortcomings of the main existing models of contractualism, ‘Hobbesian’ contractualism (or contractarianism) and ‘Kantian’ contractualism. It then proposes a novel, deliberative model, ‘deliberative contractualism’, based on an interpersonal, deliberative conception of practical reason. It argues that the deliberative model of contractualism represents an attractive alternative to its more familiar rivals and that it has the resources to offer a more compelling account of morality's foundations, one that can do justice to the twin demands of moral accuracy and explanatory adequacy.
David Pugmire
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780199276899
- eISBN:
- 9780191602689
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199276897.001.0001
- Subject:
- Philosophy, Philosophy of Mind
Drawing on recent work in the theory of emotion, this book concerns what is involved in the adequacy of emotions, which, it is argued, amounts to more than feeling good. The book analyses a series of ...
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Drawing on recent work in the theory of emotion, this book concerns what is involved in the adequacy of emotions, which, it is argued, amounts to more than feeling good. The book analyses a series of ways in which emotions, and the emotional life, can be well-formed or not. Some of these amount to properties emotions can have (e.g. depth) which variously enhance or detract from them. Others are attitudes with characteristic emotional loadings and effects (e.g. cynicism and sophistication), and both are affected by culture. The study even of elusive lapses in the integrity of emotions matter, it is held, for their costs are themselves emotional.Less
Drawing on recent work in the theory of emotion, this book concerns what is involved in the adequacy of emotions, which, it is argued, amounts to more than feeling good. The book analyses a series of ways in which emotions, and the emotional life, can be well-formed or not. Some of these amount to properties emotions can have (e.g. depth) which variously enhance or detract from them. Others are attitudes with characteristic emotional loadings and effects (e.g. cynicism and sophistication), and both are affected by culture. The study even of elusive lapses in the integrity of emotions matter, it is held, for their costs are themselves emotional.
Erik Hurst
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0003
- Subject:
- Business and Management, Pensions and Pension Management
This chapter summarizes five facts from the recent literature on consumption behavior during retirement. Most importantly, it shows that there is substantial heterogeneity in spending changes at ...
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This chapter summarizes five facts from the recent literature on consumption behavior during retirement. Most importantly, it shows that there is substantial heterogeneity in spending changes at retirement across consumption categories. Observed declines in spending during retirement are limited to food and work-related expenses. Even though food spending declines during retirement, actual food intake remains constant. Furthermore, the literature shows that there is substantial heterogeneity across households in the change in expenditure associated with retirement. Much of this heterogeneity, however, can be explained by households involuntarily retiring. Overall, the evidence suggests that the standard model of lifecycle consumption augmented with home production and uncertain health shocks does well in explaining the consumption patterns of most households as they transition into retirement.Less
This chapter summarizes five facts from the recent literature on consumption behavior during retirement. Most importantly, it shows that there is substantial heterogeneity in spending changes at retirement across consumption categories. Observed declines in spending during retirement are limited to food and work-related expenses. Even though food spending declines during retirement, actual food intake remains constant. Furthermore, the literature shows that there is substantial heterogeneity across households in the change in expenditure associated with retirement. Much of this heterogeneity, however, can be explained by households involuntarily retiring. Overall, the evidence suggests that the standard model of lifecycle consumption augmented with home production and uncertain health shocks does well in explaining the consumption patterns of most households as they transition into retirement.
Sarah Holden and Jack VanDerhei
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199204656
- eISBN:
- 9780191603822
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199204659.003.0003
- Subject:
- Economics and Finance, Financial Economics
As defined contribution plans are increasingly being offered as the primary employer-sponsored pension, it is of interest to ask whether these accumulations are likely to yield sufficient retirement ...
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As defined contribution plans are increasingly being offered as the primary employer-sponsored pension, it is of interest to ask whether these accumulations are likely to yield sufficient retirement income. This chapter uses a projection model to explore alternative future scenarios for retirees who had 401(k) plans available to them over their full working careers. It also assesses the impact of ‘catch-up’ contributions, saving through an individual retirement account when an employer does not offer a 401(k) plan, and changing retirement ages.Less
As defined contribution plans are increasingly being offered as the primary employer-sponsored pension, it is of interest to ask whether these accumulations are likely to yield sufficient retirement income. This chapter uses a projection model to explore alternative future scenarios for retirees who had 401(k) plans available to them over their full working careers. It also assesses the impact of ‘catch-up’ contributions, saving through an individual retirement account when an employer does not offer a 401(k) plan, and changing retirement ages.
Bas. C. van Fraassen
- Published in print:
- 1980
- Published Online:
- November 2003
- ISBN:
- 9780198244271
- eISBN:
- 9780191597473
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198244274.001.0001
- Subject:
- Philosophy, Philosophy of Science
This book presents an empiricist alternative (‘constructive empiricism’) to both logical positivism and scientific realism. Against the former, it insists on a literal understanding of the language ...
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This book presents an empiricist alternative (‘constructive empiricism’) to both logical positivism and scientific realism. Against the former, it insists on a literal understanding of the language of science and on an irreducibly pragmatic dimension of theory acceptance. Against scientific realism, it insists that the central aim of science is empirical adequacy (‘saving the phenomena’) and that even unqualified acceptance of a theory involves no more belief than that this goal is met. Beginning with a critique of the metaphysical arguments that typically accompany scientific realism, a new characterization of empirical adequacy is presented, together with an interpretation of probability in both modern and contemporary physics and a pragmatic theory of explanation.Less
This book presents an empiricist alternative (‘constructive empiricism’) to both logical positivism and scientific realism. Against the former, it insists on a literal understanding of the language of science and on an irreducibly pragmatic dimension of theory acceptance. Against scientific realism, it insists that the central aim of science is empirical adequacy (‘saving the phenomena’) and that even unqualified acceptance of a theory involves no more belief than that this goal is met. Beginning with a critique of the metaphysical arguments that typically accompany scientific realism, a new characterization of empirical adequacy is presented, together with an interpretation of probability in both modern and contemporary physics and a pragmatic theory of explanation.
Eugene V. Gallagher
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195177299
- eISBN:
- 9780199785537
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195177299.003.0013
- Subject:
- Religion, Religion and Society
Students frequently come to classes about new religious movements disinclined to take them seriously as legitimate religions. Borrowing from literature about race and diversity in the classroom and ...
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Students frequently come to classes about new religious movements disinclined to take them seriously as legitimate religions. Borrowing from literature about race and diversity in the classroom and using Peter Elbow's description of methodological doubt and methodological belief as analytical tools, this chapter discusses strategies for overcoming student resistance to taking NRMs seriously as religions. It is argued that the rigorous cultivation of methodological belief as an approach to the study of NRMs offers an effective way to dissipate some negative effects of stereotypes of NRMs and develop adequate descriptions of them. Advocating a rhetorical model of teaching, the chapter provides examples of active learning assignments and offers suggestions about course design that can make the politics of representation of NRMs a continuing topic for class discussions.Less
Students frequently come to classes about new religious movements disinclined to take them seriously as legitimate religions. Borrowing from literature about race and diversity in the classroom and using Peter Elbow's description of methodological doubt and methodological belief as analytical tools, this chapter discusses strategies for overcoming student resistance to taking NRMs seriously as religions. It is argued that the rigorous cultivation of methodological belief as an approach to the study of NRMs offers an effective way to dissipate some negative effects of stereotypes of NRMs and develop adequate descriptions of them. Advocating a rhetorical model of teaching, the chapter provides examples of active learning assignments and offers suggestions about course design that can make the politics of representation of NRMs a continuing topic for class discussions.
Michel Crouhy, Dan Galai, and Robert Mark
- Published in print:
- 2005
- Published Online:
- January 2007
- ISBN:
- 9780195169713
- eISBN:
- 9780199783717
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195169713.003.0006
- Subject:
- Economics and Finance, Financial Economics
This chapter presents the New Capital Adequacy Accord proposed by the Basel Committee on Banking Supervision (Basel II) to replace the current 1988 Capital Accord (Basel I) by a more risk-sensitive ...
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This chapter presents the New Capital Adequacy Accord proposed by the Basel Committee on Banking Supervision (Basel II) to replace the current 1988 Capital Accord (Basel I) by a more risk-sensitive framework for the measurement of credit risk. Basel II offers a menu of approaches: the “standardized” approach and the “internal ratings based” (IRB) approach with two variants: the “foundation” and the “advanced” approaches. These approaches are reviewed and their shortcomings are discussed. The standardized approach presents similar flaws to Basel I. The regulatory capital attribution according to the IRB approach is compared with the economic capital allocation from the industry-sponsored credit portfolio models, including CreditMetrics, KMV, and CreditRisk+. This comparison shows that the capital attribution for investment grade facilities from the IRB approach, although much lower than for the standardized approach, is still too high compared with the allocation from internal models. For subinvestment grade portfolios, the opposite is true where the IRB approach allocates more capital than the standardized approach, but still much less than the internal models. It is also noted that when the various credit portfolio models are calibrated with consistent parameters, they produce capital attributions that are relatively close to one another. It is clear from these conclusions that regulatory arbitrage will prevail as banks will be incentivized, as under Basel I, to shed away their high-quality assets through loan sales and securitization, and keep on their balance sheet the more risky loans for which regulatory capital underestimates the actual economic risk.Less
This chapter presents the New Capital Adequacy Accord proposed by the Basel Committee on Banking Supervision (Basel II) to replace the current 1988 Capital Accord (Basel I) by a more risk-sensitive framework for the measurement of credit risk. Basel II offers a menu of approaches: the “standardized” approach and the “internal ratings based” (IRB) approach with two variants: the “foundation” and the “advanced” approaches. These approaches are reviewed and their shortcomings are discussed. The standardized approach presents similar flaws to Basel I. The regulatory capital attribution according to the IRB approach is compared with the economic capital allocation from the industry-sponsored credit portfolio models, including CreditMetrics, KMV, and CreditRisk+. This comparison shows that the capital attribution for investment grade facilities from the IRB approach, although much lower than for the standardized approach, is still too high compared with the allocation from internal models. For subinvestment grade portfolios, the opposite is true where the IRB approach allocates more capital than the standardized approach, but still much less than the internal models. It is also noted that when the various credit portfolio models are calibrated with consistent parameters, they produce capital attributions that are relatively close to one another. It is clear from these conclusions that regulatory arbitrage will prevail as banks will be incentivized, as under Basel I, to shed away their high-quality assets through loan sales and securitization, and keep on their balance sheet the more risky loans for which regulatory capital underestimates the actual economic risk.
Philip A. Wellons
- Published in print:
- 2005
- Published Online:
- January 2007
- ISBN:
- 9780195169713
- eISBN:
- 9780199783717
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195169713.003.0008
- Subject:
- Economics and Finance, Financial Economics
This chapter examines the role of enforcement for capital adequacy regulation in US banking and securities markets. Very little is known about how enforcement works: What broken rules are being ...
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This chapter examines the role of enforcement for capital adequacy regulation in US banking and securities markets. Very little is known about how enforcement works: What broken rules are being enforced? By whom? How serious are the violations? How effective is enforcement, which presumably should discourage others from breaking important capital rules? The data are from enforcement actions over the last 6 to 10 years by US regulators, who are unique in publishing them. Even though the capital adequacy rules differ for banks and securities firms, the approaches to enforcing them overlap enough to allow rough comparison. This chapter finds a very low number of formal enforcement actions. Most target the small firms or individuals, not the big firms. Formal actions are particularly rare against the largest banks and securities firms, those that pose the greatest threat to the financial system. All but one of the capital adequacy violations resulted from fraud, theft, or other forms of operational risk. Only one resulted from credit risk. The chapter examines possible explanations of the findings, such as the relatively strong economy during much of the period and the possibility that very effective supervision catches almost all firms before their capital falls too low. Evidence from case studies of failed banks suggests that supervisors need to do a better job relating a bank's apparently adequate capital to its risk exposure, and to force banks to implement proposals regulators make to remedy deficiencies. Perhaps the very limited enforcement against large firms reflects a regulatory bias in their favor rather than their underlying strength and adequate capital.Less
This chapter examines the role of enforcement for capital adequacy regulation in US banking and securities markets. Very little is known about how enforcement works: What broken rules are being enforced? By whom? How serious are the violations? How effective is enforcement, which presumably should discourage others from breaking important capital rules? The data are from enforcement actions over the last 6 to 10 years by US regulators, who are unique in publishing them. Even though the capital adequacy rules differ for banks and securities firms, the approaches to enforcing them overlap enough to allow rough comparison. This chapter finds a very low number of formal enforcement actions. Most target the small firms or individuals, not the big firms. Formal actions are particularly rare against the largest banks and securities firms, those that pose the greatest threat to the financial system. All but one of the capital adequacy violations resulted from fraud, theft, or other forms of operational risk. Only one resulted from credit risk. The chapter examines possible explanations of the findings, such as the relatively strong economy during much of the period and the possibility that very effective supervision catches almost all firms before their capital falls too low. Evidence from case studies of failed banks suggests that supervisors need to do a better job relating a bank's apparently adequate capital to its risk exposure, and to force banks to implement proposals regulators make to remedy deficiencies. Perhaps the very limited enforcement against large firms reflects a regulatory bias in their favor rather than their underlying strength and adequate capital.
Albert Casullo
- Published in print:
- 2003
- Published Online:
- May 2006
- ISBN:
- 9780195115055
- eISBN:
- 9780199786190
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195115058.003.0003
- Subject:
- Philosophy, Metaphysics/Epistemology
This chapter examines two conceptions of a priori justification: (AP1) S’s belief that p is justified a priori if and only if S’s belief that p is nonexperientially justified; and (AP2) S’s belief ...
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This chapter examines two conceptions of a priori justification: (AP1) S’s belief that p is justified a priori if and only if S’s belief that p is nonexperientially justified; and (AP2) S’s belief that p is justified a priori if and only if S’s belief that p is nonexperientially justified and cannot be defeated by experience. Two criteria are introduced to evaluate them: continuity with historical precedent, and coherence with generally accepted concepts and principles in the theory of knowledge. It is argued that although historical precedent does not favor either analysis, several theoretical considerations favor (AP1) over (AP2). (AP1) coheres better with the standard treatment of related epistemic concepts, highlights the central epistemic question raised by the theory of a priori knowledge, and satisfies a plausible criterion of adequacy regarding a priori justification; it leaves open the possibility of empirical knowledge of propositions knowable a priori.Less
This chapter examines two conceptions of a priori justification: (AP1) S’s belief that p is justified a priori if and only if S’s belief that p is nonexperientially justified; and (AP2) S’s belief that p is justified a priori if and only if S’s belief that p is nonexperientially justified and cannot be defeated by experience. Two criteria are introduced to evaluate them: continuity with historical precedent, and coherence with generally accepted concepts and principles in the theory of knowledge. It is argued that although historical precedent does not favor either analysis, several theoretical considerations favor (AP1) over (AP2). (AP1) coheres better with the standard treatment of related epistemic concepts, highlights the central epistemic question raised by the theory of a priori knowledge, and satisfies a plausible criterion of adequacy regarding a priori justification; it leaves open the possibility of empirical knowledge of propositions knowable a priori.
Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0003
- Subject:
- Business and Management, Pensions and Pension Management
Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and ...
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Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and Retirement Survey and the New Beneficiary Survey linked to administrative records to assess and compare the saving adequacy of two different cohorts. Specifically, the two groups are compared in terms of their annuitized net wealth (ANW) and ANW relative to the poverty line, as well as the near-poverty line. Results show that the mean wealth levels of both new retiree cohorts rose over time (by about two-thirds for wealth and by half for ANW), but the chance of meeting social adequacy targets has also risen. This shortfall is concentrated increasingly among non-married persons, and those with low human capital and labor force attachment. In other words, vulnerability during the working life appears to persist into retirement.Less
Assessing savings sufficiency requires detailed information on both potential retirement benefits and the characteristics of a national sample of older citizens. The analysis uses the Health and Retirement Survey and the New Beneficiary Survey linked to administrative records to assess and compare the saving adequacy of two different cohorts. Specifically, the two groups are compared in terms of their annuitized net wealth (ANW) and ANW relative to the poverty line, as well as the near-poverty line. Results show that the mean wealth levels of both new retiree cohorts rose over time (by about two-thirds for wealth and by half for ANW), but the chance of meeting social adequacy targets has also risen. This shortfall is concentrated increasingly among non-married persons, and those with low human capital and labor force attachment. In other words, vulnerability during the working life appears to persist into retirement.
Chris Cunningham, Gary V. Engelhardt, and Anil Kumar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0010
- Subject:
- Business and Management, Pensions and Pension Management
Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate ...
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Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate about whether Baby Boomers have adequate retirement savings. This chapter summarizes the results of a long-term effort to develop an improved calculator to measure defined contribution pension wealth of older Americans, implemented using the Health and Retirement Study. Results show that pension wealth resulting from voluntary saving (and accrued earnings thereon) comprises half of DC pension wealth calculated for HRS respondents with matched summary plan descriptions. These are lower mean estimates of DC pension wealth than previously found, mainly resulting from changes for the wealthiest tail of the pension-wealth distribution. The findings imply that researchers must think more carefully about the economic assumptions underlying pension measures.Less
Pension wealth plays a critical role in older individuals' retirement behavior and financial security. Accordingly, the magnitude and distribution of pension wealth is important in the ongoing debate about whether Baby Boomers have adequate retirement savings. This chapter summarizes the results of a long-term effort to develop an improved calculator to measure defined contribution pension wealth of older Americans, implemented using the Health and Retirement Study. Results show that pension wealth resulting from voluntary saving (and accrued earnings thereon) comprises half of DC pension wealth calculated for HRS respondents with matched summary plan descriptions. These are lower mean estimates of DC pension wealth than previously found, mainly resulting from changes for the wealthiest tail of the pension-wealth distribution. The findings imply that researchers must think more carefully about the economic assumptions underlying pension measures.
Annamaria Lusardi and Jason Beeler
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.003.0013
- Subject:
- Business and Management, Pensions and Pension Management
This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the ...
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This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the Boomers accumulated more wealth than the previous cohort, largely because they benefited from rising house prices. Nevertheless, some Boomer families are less well off, particularly those headed by those with low education and low income, and minorities. The survey also shows that many Boomers have not planned for retirement, and like the earlier cohort, nonplanners have much less wealth than planners. In other words, lack of planning is tantamount to lack of saving, irrespective of the economic changes observed over the last dozen years.Less
This chapter compares the saving behavior of Early Baby Boomers (age 51-56 in 2004) and its predecessor cohort in the Health and Retirement Study (age 51-56 in 1992). Results indicate that the Boomers accumulated more wealth than the previous cohort, largely because they benefited from rising house prices. Nevertheless, some Boomer families are less well off, particularly those headed by those with low education and low income, and minorities. The survey also shows that many Boomers have not planned for retirement, and like the earlier cohort, nonplanners have much less wealth than planners. In other words, lack of planning is tantamount to lack of saving, irrespective of the economic changes observed over the last dozen years.
Mary Leng
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199280797
- eISBN:
- 9780191723452
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199280797.003.0008
- Subject:
- Philosophy, Logic/Philosophy of Mathematics, Metaphysics/Epistemology
The fictionalist account of the role of mathematical hypotheses in our scientific theories presented in Chapter 7 suggests that we should not view our scientific theories as true, taken literally, ...
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The fictionalist account of the role of mathematical hypotheses in our scientific theories presented in Chapter 7 suggests that we should not view our scientific theories as true, taken literally, but only as having a true metaphorical content, or as being correct in the picture they paint of their non‐mathematical ‘props’. We can present this claim as the claim that we ought to believe only the nominalistic content of our scientific theories, and not their claims about the mathematical realm. This presentation shows mathematical fictionalism to be analogous in important respects to constructive empiricism, and in this chapter this analogy is probed. It is shown that mathematical fictionalism cannot borrow from constructive empiricism in its account of ‘nominalistic content’, as this account is itself mathematical and therefore unavailable to the fictionalist. Some standard objections to constructive empiricism are considered, and fictionalist responses to these objections are given.Less
The fictionalist account of the role of mathematical hypotheses in our scientific theories presented in Chapter 7 suggests that we should not view our scientific theories as true, taken literally, but only as having a true metaphorical content, or as being correct in the picture they paint of their non‐mathematical ‘props’. We can present this claim as the claim that we ought to believe only the nominalistic content of our scientific theories, and not their claims about the mathematical realm. This presentation shows mathematical fictionalism to be analogous in important respects to constructive empiricism, and in this chapter this analogy is probed. It is shown that mathematical fictionalism cannot borrow from constructive empiricism in its account of ‘nominalistic content’, as this account is itself mathematical and therefore unavailable to the fictionalist. Some standard objections to constructive empiricism are considered, and fictionalist responses to these objections are given.
Mark Tatham and Katherine Morton
- Published in print:
- 2003
- Published Online:
- September 2007
- ISBN:
- 9780199250677
- eISBN:
- 9780191719462
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199250677.003.0013
- Subject:
- Linguistics, Phonetics / Phonology
This chapter suggests that core studies of emotion can contribute importantly to speech models. Inadequacies of current speech models are pointed out and the usefulness of an integrated physical ...
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This chapter suggests that core studies of emotion can contribute importantly to speech models. Inadequacies of current speech models are pointed out and the usefulness of an integrated physical cognitive model is presented. A suitable model of emotion that can be tightly correlated with a speech model is proposed, and the resulting speech model can incorporate emotive content. The advantages of building the model of speech with expressive and emotive content are presented, as well as the case for building the model in computational terms; computational adequacy is highlighted.Less
This chapter suggests that core studies of emotion can contribute importantly to speech models. Inadequacies of current speech models are pointed out and the usefulness of an integrated physical cognitive model is presented. A suitable model of emotion that can be tightly correlated with a speech model is proposed, and the resulting speech model can incorporate emotive content. The advantages of building the model of speech with expressive and emotive content are presented, as well as the case for building the model in computational terms; computational adequacy is highlighted.
Alan K. Knapp, John M. Briggs, Daniel L. Childers, and Osvaldo E. Sala
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195168662
- eISBN:
- 9780199790128
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195168662.003.0003
- Subject:
- Biology, Ecology
Although grass- and herb-dominated ecosystems may be easier to sample for aboveground primary production than most others, a variety of challenges for standardizing approaches in different settings ...
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Although grass- and herb-dominated ecosystems may be easier to sample for aboveground primary production than most others, a variety of challenges for standardizing approaches in different settings and circumstances must be overcome. This chapter describes the most common harvest approaches for grassland production measurement and a suite of site-specific criteria that affect the choice of approach (e.g., grazing, decomposition, phenology). Errors leading to either underestimation or overestimation are examined, and a case study describing approaches for evaluating sample adequacy is provided.Less
Although grass- and herb-dominated ecosystems may be easier to sample for aboveground primary production than most others, a variety of challenges for standardizing approaches in different settings and circumstances must be overcome. This chapter describes the most common harvest approaches for grassland production measurement and a suite of site-specific criteria that affect the choice of approach (e.g., grazing, decomposition, phenology). Errors leading to either underestimation or overestimation are examined, and a case study describing approaches for evaluating sample adequacy is provided.
Daniel C. Russell
- Published in print:
- 2009
- Published Online:
- May 2009
- ISBN:
- 9780199565795
- eISBN:
- 9780191721311
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199565795.003.0010
- Subject:
- Philosophy, Moral Philosophy, Ancient Philosophy
This chapter turns from social psychology to philosophical psychology, arguing that the positive account of personality suggested by situationism is one that virtue theory can naturally embrace, ...
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This chapter turns from social psychology to philosophical psychology, arguing that the positive account of personality suggested by situationism is one that virtue theory can naturally embrace, provided that virtues are forms of responsiveness to reasons. It begins by further defending the empirical adequacy of such a personality theory, which some philosophical psychologists have ignored, played down, or explicitly rejected. The rest of the chapter considers several possible virtue-theoretical responses to John Doris' recent charge that no virtue theory embracing the situationist view of personality could be both empirically and normatively adequate. The chapter rejects Doris' assumption that a normatively adequate virtue theory must depict virtues as proclivities to stereotypically “virtuous” behaviors. Rather, the virtue theorist can define character traits in terms of cognitive-affective personality attributes, and define virtues as character traits that are appropriately responsive to reasons. The chapter concludes that virtue theories that make phronesis part of all virtue are in the unique position of standing firmly on the current evidence from social psychology about the nature of personality.Less
This chapter turns from social psychology to philosophical psychology, arguing that the positive account of personality suggested by situationism is one that virtue theory can naturally embrace, provided that virtues are forms of responsiveness to reasons. It begins by further defending the empirical adequacy of such a personality theory, which some philosophical psychologists have ignored, played down, or explicitly rejected. The rest of the chapter considers several possible virtue-theoretical responses to John Doris' recent charge that no virtue theory embracing the situationist view of personality could be both empirically and normatively adequate. The chapter rejects Doris' assumption that a normatively adequate virtue theory must depict virtues as proclivities to stereotypically “virtuous” behaviors. Rather, the virtue theorist can define character traits in terms of cognitive-affective personality attributes, and define virtues as character traits that are appropriately responsive to reasons. The chapter concludes that virtue theories that make phronesis part of all virtue are in the unique position of standing firmly on the current evidence from social psychology about the nature of personality.
Jean Drèze and Amartya Sen
- Published in print:
- 1991
- Published Online:
- November 2003
- ISBN:
- 9780198283652
- eISBN:
- 9780191596193
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198283652.003.0009
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The problem of public action in combating persistent undernutrition and endemic deprivation is raised. The argument is made for broadening the attention from food self‐sufficiency to food adequacy, ...
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The problem of public action in combating persistent undernutrition and endemic deprivation is raised. The argument is made for broadening the attention from food self‐sufficiency to food adequacy, from food adequacy to food entitlements, and from the latter to nutritional and related capabilities, always observing the link between these variables. The role of diversification and the potential process of industrialisation is considered, giving some attention to cash crops.Less
The problem of public action in combating persistent undernutrition and endemic deprivation is raised. The argument is made for broadening the attention from food self‐sufficiency to food adequacy, from food adequacy to food entitlements, and from the latter to nutritional and related capabilities, always observing the link between these variables. The role of diversification and the potential process of industrialisation is considered, giving some attention to cash crops.
