AbstractThe purpose of this article is to draw together some of the main economic issues relating to superannuation and retirement income arrangements more generally. The article is essentially descriptive, not prescriptive nor particularly analytical. It begins with an explanation of community objectives and moves on to canvass the criteria for government intervention. The main part of the article discusses the economic issues of savings, labour supply, financing and redistribution. This is followed by a brief review of the problems and prospects for Australian arrangements. The article finishes with a tentative conclusion about the main economic issues and themes that might attract debate and stimulate research.
The number of methods for evaluating, and possibly making statistical decisions about, null contrasts - or their small sub-set, multiple comparisons - has grown extensively since the early 1950s. That demonstrates how important the subject is, but most of the growth consists of modest variations of the early methods. This paper examines nine fairly basic procedures, six of which are methods designed to evaluate contrasts chosen post hoc, i.e., after an examination of the test data. Three of these use experimentwise or familywise type 1 error rates (Scheffé 1953, Tukey 1953, Newman-Keuls, 1939 and 1952), two use decision-based type 1 error rates (Duncan 1951 and Rodger 1975a) and one (Fisher's LSD 1935) uses a mixture of the two type 1 error rate definitions. The other three methods examined are for evaluating, and possibly deciding about, a limited number of null contrasts that have been chosen independently of the sample data - preferably before the data are collected. One of these (planned t-tests) uses decision-based type 1 error rates and the other two (one based on Bonferroni's Inequality 1936, and the other Dunnett's 1964 Many-One procedure) use a familywise type 1 error rate. The use of these different type 1 error rate definitionsA creates quite large discrepancies in the capacities of the methods to detect true non-zero effects in the contrasts being evaluated. This article describes those discrepancies in power and, especially, how they are exacerbated by increases in the size of an investigation (i.e., an increase in J, the number of samples being examined). It is also true that the capacity of a multiple contrast procedure to 'unpick' 'true' differences from the sample data is influenced by the type of contrast the procedure permits. For example, multiple range procedures (such as that of Newman-Keuls and that of Duncan) permit only comparisons (i.e., two-group differences) and that greatly limits their discriminating capacity (which is not, technically speaking, their power). Many methods (those of Scheffé, Tukey's HSD, Newman-Keuls, Fisher's LSD, Bonferroni and Dunnett) place their emphasis on one particular question, "Are there any differences at all among the groups?" Some other procedures concentrate on individual contrasts (i.e., those of Duncan, Rodger and Planned Contrasts); so are more concerned with how many false null contrasts the method can detect. This results in two basically different definitions of detection capacity. Finally, there is a categorical difference between what post hoc methods and those evaluating pre-planned contrasts can find. The success of the latter depends on how wisely (or honestly well informed) the user has been in planning the limited number of statistically revealing contrasts to test. That can greatly affect the method's discriminating success, but it is often not included in power evaluations. These matters are elaborated upon as they arise in the exposition below. DOI:10.2458/azu_jmmss_v4i1_rodger
Australian Research Council ; International Science Linkages program of the Commonwealth of Australia ; Council of Scientific and Industrial Research of India, Department of Science and Technology, India ; Science and Engineering Research Board, India ; Ministry of Human Resource Development, India ; Spanish Ministerio de Economia y Competitividad ; Conselleria d'Economia i Competitivitat ; Cultura i Universitats of the Govern de les Illes Balears ; Foundation for Fundamental Research on Matter - Netherlands Organisation for Scientific Research ; National Science Centre of Poland ; European Union ; Royal Society ; Scottish Funding Council ; Scottish Universities Physics Alliance ; National Aeronautics and Space Administration ; Hungarian Scientific Research Fund ; Lyon Institute of Origins ; National Research Foundation of Korea ; Industry Canada ; Province of Ontario through the Ministry of Economic Development and Innovation ; National Science and Engineering Research Council Canada ; Brazilian Ministry of Science, Technology, and Innovation ; Carnegie Trust ; Leverhulme Trust ; David and Lucile Packard Foundation ; Research Corporation ; Alfred P. Sloan Foundation ; Conselleria d'Educacio ; Science and Technology Facilities Council ; Science and Technology Facilities Council: ST/L000962/1 Gravitational Waves ; Science and Technology Facilities Council: 1362895 ; Science and Technology Facilities Council: ST/I006285/1 Gravitational Waves ; Science and Technology Facilities Council: ST/L000938/1 Gravitational Waves ; Science and Technology Facilities Council: ST/L000962/1 ; Science and Technology Facilities Council: ST/K000845/1 ; Science and Technology Facilities Council: Gravitational Waves ; Science and Technology Facilities Council: ST/K005014/1 ; Science and Technology Facilities Council: ST/L003465/1 ; Science and Technology Facilities Council: ST/L000938/1 ; Science and Technology Facilities Council: ST/N000064/1 ; Science and Technology Facilities Council: ST/L000946/1 ; Science and Technology Facilities Council: ST/L000954/1 Gravitational Waves ; Science and Technology Facilities Council: ST/I006269/1 Gravitational Waves ; Science and Technology Facilities Council: ST/I006269/1 ; Science and Technology Facilities Council: ST/J000019/1 ; Science and Technology Facilities Council: ST/I006242/1 Gravitational Waves ; In this paper we present the results of the first low frequency all-sky search of continuous gravitational wave signals conducted on Virgo VSR2 and VSR4 data. The search covered the full sky, a frequency range between 20 and 128 Hz with a range of spin-down between -1.0 x 10(-10) and +1.5 x 10(-11) Hz/s, and was based on a hierarchical approach. The starting point was a set of short fast Fourier transforms, of length 8192 s, built from the calibrated strain data. Aggressive data cleaning, in both the time and frequency domains, has been done in order to remove, as much as possible, the effect of disturbances of instrumental origin. On each data set a number of candidates has been selected, using the Frequency Hough transform in an incoherent step. Only coincident candidates among VSR2 and VSR4 have been examined in order to strongly reduce the false alarm probability, and the most significant candidates have been selected. The criteria we have used for candidate selection and for the coincidence step greatly reduce the harmful effect of large instrumental artifacts. Selected candidates have been subject to a follow-up by constructing a new set of longer fast Fourier transforms followed by a further incoherent analysis, still based on the Frequency Hough transform. No evidence for continuous gravitational wave signals was found, and therefore we have set a population-based joint VSR2-VSR4 90% confidence level upper limit on the dimensionless gravitational wave strain in the frequency range between 20 and 128 Hz. This is the first all-sky search for continuous gravitational waves conducted, on data of ground-based interferometric detectors, at frequencies below 50 Hz. We set upper limits in the range between about 10(-24) and 2 x 10(-23) at most frequencies. Our upper limits on signal strain show an improvement of up to a factor of similar to 2 with respect to the results of previous all-sky searches at frequencies below 80 Hz.