scholarly journals Wealth Composition and Drawdown Patterns of Retirees a Comparative Study

2016 ◽  
Vol 1 (No. 1 Oct 2016) ◽  
pp. 41-56
Author(s):  
Young Man Lee ◽  
Jun Hyung Kim ◽  
Hyun-Ah Kim ◽  
Man Cho
Keyword(s):  
Real Estate ◽  
Financial Assets ◽  
Market Penetration ◽  
Private Pensions ◽  
Public And Private ◽  
Subscription Rate ◽  
Average Share ◽  
The Government ◽  
Real Estate Assets ◽  
The U.S

This study aims to pursue a two-fold research objective: first, to examine the wealth composition and its drawdown patterns of the retirement-age households in Korea and, second, to assess policy options to safely monetize real estate assets held by them, the reverse annuity mortgage (RAM) in particular. In so doing, we compare our findings to those from the U.S. as reported by Poterba, Venti, and Weiss (2011). The results indicate that, between the U.S. and Korea, the wealth compositions of the retirees are vastly different in several respects: first, the average share of real estate in Korea is far greater than that in the U.S., over 80 percent vs. 24.7; second, the share of the annuitized public and private pensions is far higher in the U.S. compared to Korea, 44.9 percent vs. 7.7 percent in Korea; third, the share of financial assets is roughly similar, that is, 12.6% in the U.S. and 10.3% in Korea; last but not least, the share of non-residence real estate rapidly rose rapidly between 2006 and 2012 in Korea, quite dramatically for certain consumer cohorts. Hence, the Korea case represents an extreme of ‘real estate-rich-cash-poor’ retirees, making it a fertile ground for trading the monetizing instruments such as RAM. Nonetheless, the market penetration by the product is still minimal, the subscription rate of 0.81 percent among all the eligible households as of 2015. To investigate empirically the reasons behind such low subscription rate, we perform a regression analysis on determinants of the propensity for entering the RAM contract; The results show that the bequest motive does reduce the propensity to subscribe the product, and that the two indicators of the consumer knowledge on the product do yield positive and statically significant results. Based on the findings, we stress the need for a heightened level of consumer education on the viewpoint of the protection financial consumers, for which the government, the lending and guaranteeing institutions, as well as academia should put a concerted effort so as to help elderlies make rational decisions.

scholarly journals Urban Demolition: Application of Blight Elimination Programs and Flood Buyout Programs to the Italian Case

2021 ◽  
Vol 13 (16) ◽  
pp. 9412
Author(s):  
Simone Rusci ◽  
Diego Altafini ◽  
Valerio Di Pinto
Keyword(s):  
United States ◽  
Real Estate ◽  
Urban Growth ◽  
Main Tool ◽  
The United States ◽  
New Paradigm ◽  
Italian Case ◽  
Successful Employment ◽  
Real Estate Assets ◽  
The U.S

In recent years, there has been a growing awareness that not all decommissioned and obsolete real-estate assets can be recovered and reused. After the paradigm of urban growth, and following the paradigm of regeneration, a new paradigm seems to be looming on the horizon: the paradigm of shrinkage. Due to this change in perspective, discussions on the potential of demolition policies as an alternative to regeneration and reuse are gaining support in the debate about urban growth. In the United States, there are two on-going programs using demolition as their main tool for urban planning: the blight elimination programs and the flood buyout programs. The former foresees the demolition of abandoned and decayed real-estate assets, while the latter envisions the demolition and relocation of buildings within areas under flooding risks. Given their successful employment in the U.S., this paper evaluates the applicability of these programs to an Italian case, which is characterized by a different building heritage and different territorial conditions. Simulations of the programs’ application are made using two case studies: Lecce nei Marsi (Abruzzo) and Moncalieri (Piemonte). The results demonstrate the substantial feasibility of the blight elimination programs’ usage in Italy, while the flood buyout programs instead demonstrates major obstacles that may hinder its successful application.

At the Border between Public and Private: U.S. Immigration Policy for Victims of Domestic Violence

2013 ◽  
Vol 7 (1) ◽  
pp. 109-153
Author(s):  
Nina Rabin
Keyword(s):  
Domestic Violence ◽  
The United States ◽  
Small Data ◽  
Data Set ◽  
Public And Private ◽  
Domestic Violence Victims ◽  
Mexico Border ◽  
The Government ◽  
Private Matter ◽  
The U.S

Abstract This article examines the treatment of women in flight from domestic violence at the U.S. – Mexico border. It compares the robust state protections available to domestic violence victims in the interior of the country with the hostile landscape women encounter at the border. The article draws on three sources for information about the treatment at the border of domestic violence victims: an in-depth case study of one woman’s experience of domestic violence and flight, a small data set of domestic violence victims detained in the Eloy Detention Center in Arizona during 2010 and 2011, and a detailed analysis of the policies and practices at play when a woman in flight from domestic violence comes to the U.S. border. From these sources, a grim picture emerges that may surprise many. Women fleeing violence whose lives entangle with the border confront a bureaucracy and justice system that harkens back to the time, 50 years ago, when domestic violence was seen as a private matter about which there was little the government could or should do to respond. Building on this descriptive account, the article draws on political theories of citizenship and membership to highlight the moral and legal inconsistencies between the immigration policies of the United States and its national values and commitments regarding violence against women. It suggests that language about the “private” nature of the violence at issue for women in flight from domestic violence should not be used to cloak underlying concerns about immigration admissions policies. Transparent discussion of the considerations at issue lays bare the irrationality of applying fundamentally different conceptions of domestic violence depending on which side of the geographic border it occurs.

Do real estate assets hedge inflation better than financial assets? Some New Zealand evidence

2005 ◽  
Vol 5 (1-2) ◽  
pp. 39-46 ◽  
Author(s):  
Ting Ting Zhou ◽  
Abeyratna Gunasekarage ◽  
David M. Power
Keyword(s):  
New Zealand ◽  
Real Estate ◽  
Financial Assets ◽  
Real Estate Assets ◽  
Better Than

Problems of the US Economic Policy

2013 ◽  
pp. 129-143
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
Real Estate ◽  
Full Employment ◽  
Tax Rates ◽  
Equitable Distribution ◽  
Investment Rate ◽  
The Us ◽  
Budget Systems ◽  
Enterprise Activity ◽  
The U.S

How to provide for full employment and equitable distribution of incomes and wealth are the keenest issues of the U.S. society. The Democratic and the Republican Parties have elaborated opposing views on economic policy, though both parties are certain that the problems may be resolved through the reform of the federal tax and budget systems. Globalization demands to increase incentives for labor and enterprise activity and for savings to secure proper investment rate. Tax rates for labor and enterprise incomes are to be low, but tax rates for consumption, real estate and land should be progressive.

American and Canadian Civil Actions Alleging Human Rights Violations Abroad by Oil and Gas Companies

2008 ◽  
Vol 45 (3) ◽  
pp. 653 ◽  
Author(s):  
Jonathan Horlick ◽  
Joe Cyr ◽  
Scott Reynolds ◽  
Andrew Behrman
Keyword(s):  
Human Rights ◽  
Oil And Gas ◽  
The United States ◽  
Human Rights Violations ◽  
Law Of Nations ◽  
Forum Non Conveniens ◽  
The Government ◽  
Oil And Gas Companies ◽  
Political Question ◽  
The U.S

Under the United States Alien Tort Statute, which permits non-U.S. citizens to bring lawsuits in U.S. courts for human rights violations that are violations of the law of nations, plaintiffs have filed claims against multinational oil and gas corporations for the direct or complicit commission of such violations carried out by the government of the country in which the corporation operated. In addition to exercising jurisdiction over U.S. corporations, U.S. courts have exercised jurisdiction in cases involving non-U.S. defendants for alleged wrongful conduct against non-U.S. plaintiffs committed outside the U.S.The exercise of jurisdiction by U.S. courts over non-U.S. defendants for alleged wrongful conduct against non-U.S. plaintiffs committed outside of the U.S. raises serious questions as to the jurisdictional foundation on which the power of U.S. courts to adjudicate them rests. Defences that foreign defendants can raise against the exercise of jurisdiction by the U.S. courts are an objection to the extraterritorial assertion of jurisdiction, the act of state doctrine, the political question doctrine, forum non conveniens, and the principle of comity. These defences are bolstered by the support of the defendant’s home government and other governments.

The Correlation of Public and Private Financial Interests in the Acquisition of Real Estate under Procurement Contract System

2020 ◽  
Vol 8 ◽  
pp. 23-30
Author(s):  
V. V. Kikavets ◽  
Keyword(s):  
Real Estate ◽  
Secondary Market ◽  
Public And Private ◽  
Procurement Contract ◽  
Financial Interests

The article reveals the problem of the correlation of public and private financial interests in the process of acquiring apartments by state and municipal customers. The legal approaches to the solution of this problem are presented using example of arbitration practice. In order to maintain a balance of public and private financial interests within the framework of the procurement contract system, it is proposed to purchase new apartments or in the secondary market exclusively from the owners (ownership of real estate is registered), the interests of which will be represented, if necessary, by attorneys or agents.

The Roles of Government in Protecting and Promoting Occupational and Environmental Health

2017 ◽  
Author(s):  
Gregory R. Wagner ◽  
Emily A. Spieler
Keyword(s):  
Environmental Health ◽  
Environmental Protection Agency ◽  
Occupational Safety ◽  
Mine Safety ◽  
Health Administration ◽  
Safety And Health ◽  
Standards And Regulations ◽  
Regulatory Interventions ◽  
The Government ◽  
The U.S

This chapter discusses the roles of government in promoting occupational and environmental health, with a focus on the U.S. federal government. Governmental interventions, as described here, can range from non-regulatory interventions, such as dissemination of information or generation and communication of information, to establishing regulatory requirements through the promulgation and enforcement of standards and regulations. The chapter describes the U.S. laws and roles of the administrative agencies responsible for occupational and environmental health, including the Occupational Safety and Health Administration, the Mine Safety and Health Administration, and the Environmental Protection Agency. Noting the budgetary and political constraints on these federal agencies, the chapter goes on to discuss briefly the role of the public and the states. The government also plays a role when preventive efforts fail, and the chapter provides a brief summary of programs designed to provide compensation to injured workers.

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