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The Columbia Encyclopedia, Sixth Edition articles from March 2006
With over 51,000 entries The Columbia Encyclopedia (Sixth Edition) is an authoritative and exhaustive reference guide. Each entry is thorough and clear, the result of over 200 editors and academic advisors striving for depth and accuracy in the oldest, most venerable English language encyclopedia in the world.
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The Columbia Encyclopedia, Sixth Edition archives from March 2006
Editors' summary.
March 22, 2006... THE BROOKINGS PANEL ON Economic Activity held its eighty-first conference in Washington, D.C., on March 30 and 31, 2006. This issue of the Brookings Papers includes the papers and discussions presented at the conference. The first paper takes a...
Bubble, bubble, where's the housing bubble?
March 22, 2006... HOUSING PRICES HAVE risen by about 50 percent in the past five years, and more than 100 percent in some hot markets. Many knowledgeable observers believe that the United States is in the midst of a speculative bubble in residential real estate...
Predicting Policy effects.(Bubble, Bubble, Where's the Housing Bubble?)
March 22, 2006... Our model can also be used to predict the effects of various policy actions on fundamental values. For example, if our general conclusion--that there may be some frothy local markets, but there is no national bubble in single-family home...
The recent decline in the labor force participation rate and its implications for potential labor supply.(Statistical data)
March 22, 2006... THE LABOR FORCE PARTICIPATION rate is defined as the percentage of the noninstitutional working-age population (those aged 16 and over) reporting themselves as either working or actively looking for work. This statistic is constructed from data...
Model performance. (The recent Decline in the Labor Force Participation Rate and Its Implications for Potential Labor Supply.
March 22, 2006... Figure 13 shows the participation rates, estimated trends, and fitted values of the model for teenagers (ages 16-19), young adults (20-24), prime-age adults (25-61), and older adults (62 and over), built up from the more detailed demographic...
Are successive generations getting wealthier, and if so, why? Evidence from the 1990s.
March 22, 2006... THE 1990S WERE a remarkable decade for saving and wealth accumulation. After averaging 3.4 times GDP between 1950 and 1990, aggregate net worth rose from 3.5 times GDP in 1990 to 4.2 times GDP in 2000, its highest *level since at least 1950. In...
Capital gains, stock ownership diffusion, and 401(k) plans.(Are Successive Generations Getting Wealthier, and If So, Why? Evidence from the 1990s)
March 22, 2006... The story of wealth accumulation described above is one of demographic change. Usually, however, the 1990s are characterized in terms of large capital gains, significant diffusion of stock ownership, and a substantial expansion of 401(k) plans....
Reforming the defined-benefit pension system.
March 22, 2006... IN SOME RESPECTS THE defined-benefit (DB) pension system in the United States is remarkably successful. In 2001 (the latest year for which data from Form 5500 filings are available), roughly $130 billion was paid in benefits to 11 million...
The second locus of reform: pricing of PBGC insurance.(Reforming the Defined-Benefit Pension System)(Pension Benefit Guaranty Corporation)
March 22, 2006... DETERMINATION OF INSURANCE PREMIUMS: CURRENT LAW. As was outlined earlier, the PBGC receives premium income in return for the insurance it provides. Under ERISA as originally enacted, the only form of premium was a flat-rate fee of $1 per year...