The "Levey" Interest Reckoner
This is a meticulously reproduced edition of "The 'Levey' Interest Reckoner," originally published in 1892. This comprehensive guide provides interest calculations for amounts ranging from $1.00 to $10,000 at various interest rates, including 3%, 4%, 5%, 6%, 7%, 8%, 10%, and 12%. The tables cover periods from one day to five years, offering detailed insights into financial calculations of the late 19th century. In addition to interest calculations, the book includes information on days of grace: 33, 63, and 93 days. This makes it a valuable resource for historians, financial analysts, and anyone interested in the evolution of financial practices. The "Levey Interest Reckoner" offers a fascinating glimpse into the financial tools and practices of a bygone era, presented in a clear and accessible format.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Dollarizing Qualitative Discriminators Used in Best Value Source Selections
A steadily decreasing budget affects the quantity and type of purchases made each year by the U.S. Department of Defense. This results in increasingly less money allocated to the different services each year in order to accomplish their individual missions. We are constantly being asked to do more with less and to research better ways in which to conduct our activities in a more effective and efficient manner. While this trend is significantly affecting many areas of the Air Force, it is having an equally significant impact on the conduction of source selections. This thesis examines this issue and proposes a best value method to source selections that compares not only each offeror's proposal prices to one another, but examines other areas as well.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Texas Banking Crisis, Causes and Consequences
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Financial Collapse of the Penn Central Company
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
Reverse mortgages allow elderly homeowners to tap into their housing wealth without having to sell or move out of their homes. However, very few eligible homeowners have used reverse mortgages to achieve consumption smoothing until recently when the reverse mortgage market in the United States witnessed substantial growth. This paper examines 1989-2007 loan-level reverse mortgage data and presents a number of findings. First, I show that recent reverse mortgage borrowers are significantly different from earlier borrowers in many respects. Second, I find that borrowers who take the line-of-credit payment plan, single male borrowers, and borrowers with higher house values exit their homes sooner than other reverse mortgage borrowers. Third, I combine the reverse mortgage data with county-level house price data to show that elderly homeowners are more likely to purchase reverse mortgages when the local housing market is at its peak. This finding suggests that the 2000-05 housing market boom may be partially responsible for the rapid growth of reverse mortgage markets. Lastly, I show that the Federal Housing Administration (FHA) mortgage limits, which cap the amount of housing wealth that an eligible homeowner can borrow against, have no effect on the demand for reverse mortgages. The findings have important implications to both policy-making and the economics of housing and aging.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
We examine the efficiency effects of the integration of the financial services industry and suggest directions for future research. We also propose a relatively broad working definition of integration and employ U.S. and European data on financial service industry M&As to illustrate several types of integration. The analysis suggests that there is a large potential for efficiency gains from integration, but only a relatively small part of this potential may be realized. Integration appears to bring about larger revenue efficiency gains than cost efficiency gains, and most of the gains appear to be linked to benefits from risk diversification.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Federal Reserve System
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
American women tend to be less financially literate than men, which is consistent with a household division of labor in which men manage finances. However, women also tend to outlive their husbands, so they will eventually need to take over this task. Using a new survey of older couples, I find that women acquire financial literacy as they approach widowhood. At an estimated increase of 0.04 standard deviations per year approaching widowhood, 80 percent of women in the sample would catch up with their husbands prior to the expected onset of widowhood. These findings reflect actual increases by women and are not merely an artifact of cognitive decline among older men. The results are consistent with a model in which the household division of labor breaks down when a spouse dies: women have incentives both to delay acquiring financial knowledge and also to begin learning before widowhood. This paper represents the first empirical examination of the financial literacy of both members of couples and provides a life-cycle interpretation of the gender gap in financial literacy.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
This paper analyzes the impact of changes in monetary policy on equity prices, with the objectives both of measuring the average reaction of the stock market and also of understanding the economic sources of that reaction. We find that, on average, a hypothetical unanticipated 25-basis-point cut in the federal funds rate target is associated with about a one percent increase in broad stock indexes. Adapting a methodology due to Campbell (1991) and Campbell and Ammer (1993), we find that the effects of unanticipated monetary policy actions on expected excess returns account for the largest part of the response of stock prices.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
This paper reviews a variety of backtests that examine the adequacy of Value-at-Risk (VaR) measures. These backtesting procedures are reviewed from both a statistical and risk management perspective. The properties of unconditional coverage and independence are defined and their relation to backtesting procedures is discussed. Backtests are then classified by whether they examine the unconditional coverage property, independence property, or both properties of a VaR measure. Backtests that examine the accuracy of a VaR model at several quantiles, rather than a single quantile, are also outlined and discussed. The statistical power properties of these tests are examined in a simulation experiment. Finally, backtests that are specified in terms of a pre-specified loss function are reviewed and their use in VaR validation is discussed.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
We estimate the cross-sectional relationship between open market repurchases and accounting data for a large sample of dividend- paying and non-dividend paying firms over a twelve year period (1984-95). Consistent with the hypothesis that firms use open market repurchases to reduce the agency costs of free cash flow, we find that repurchases are positively related to proxies for free cash flow and negatively related to proxies for marginal financing costs. We also examine the extent to which management stock options influence the choice between open market repurchases and dividend payments. Because the value of management stock options--like any call option--is negatively related to expected future dividend payments, management can increase the value of its stock options by substituting share repurchases for dividend growth. We find evidence that such substitution occurs: for dividend-paying firms, share repurchases are positively related and dividend increases are negatively related to a proxy for management stock options, whereas for non-dividend-paying firms, the relationship between repurchases and options is weak and statistically insignificant.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Formative Period of the Federal Reserve System, During the World Crisis
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
This paper empirically examines the relation between the Treasury term structure and spreads of investment grade corporate bond yields over Treasuries. I find that noncallable bond yield spreads fall when the level of the Treasury term structure rises. The extent of this decline depends on the initial credit quality of the bond; the decline is small for Aaa-rated bonds and large for Baa-rated bonds. The role of the business cycle in generating this pattern is explored, as is the link between yield spreads and default risk. I also argue that yield spreads based on commonly-used bond yield indexes are contaminated in two important ways. The first is that they are ``refreshed'' indexes, which hold credit ratings constant over time; the second is that they usually are constructed with both callable and noncallable bonds. The impact of both of these problems is examined.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Addressing the United States Debt and Deficit
This AY-10 student research paper discusses the strategic significance of dealing effectively with the American debt and deficit, by first describing the background of our current government approach to the economy, then examining the current projections for United States' spending from 2009 through 2019 and examining what the future might bring given anticipated American demographic changes. The author describes the economic labyrinth in detail and examines alternatives to address the challenges to America of the national deficit and debt. He concludes that while a number of alternatives are available today to address the problem of deficit financing and the associated debt and thereby strengthen the economy of the United States, three examples that are predicated on the synergistic benefits associated with small reforms provide the best chances for long-term success.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
McCord's Complete Calculator for Interest at Six per Cent
"McCord's Complete Calculator for Interest at Six per Cent" is a meticulously compiled reference designed to simplify interest calculations. Originally published in 1903, this book offers comprehensive tables that enable users to easily determine interest rates beyond the standard six percent. Featuring detailed methodologies and clear layouts, it serves as an invaluable tool for financial professionals, historians, and anyone interested in the mathematical intricacies of finance during the early 20th century. This book provides a practical and accessible guide to understanding and calculating interest, reflecting the financial practices of its time.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Federal Corporate Income Taxes
Federal Corporate Income Taxes, written by E.E. Rossmoore and originally published in 1921, provides a detailed overview of the federal corporate income tax system as it existed in the early 20th century. This comprehensive guide delves into the intricacies of tax laws, regulations, and procedures relevant to corporations operating in the United States. Rossmoore's work offers valuable insights into the historical context of corporate taxation and the evolving landscape of fiscal policy. It serves as a primary source for understanding the challenges and complexities faced by businesses in navigating the tax system of the time. Researchers, historians, and legal scholars will find this book an invaluable resource for studying the development of corporate tax law and its impact on the American economy. This historical work offers a unique lens through which to examine the foundations of modern corporate taxation.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Our Practical Method for Raising Capital
"Our Practical Method for Raising Capital," penned by Leslie Barron. Davis, offers a glimpse into the financial strategies of the early 20th century. This book provides a straightforward approach to securing funding for business ventures, reflecting the entrepreneurial spirit of its time. While the financial landscape has evolved considerably, the core principles of attracting investment and managing capital remain timeless. This work provides valuable insights into the historical context of business finance and the ingenuity of early entrepreneurs.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Some Comments on the Plumb Plan, Revised
Some Comments on the Plumb Plan, Revised, originally published in 1919, offers a detailed analysis of a significant proposal for the nationalization of railroads in the United States. Authored by the Bureau of Railway Economics (Washington, D.C.). Library, this document provides contemporary insights into the debates surrounding public ownership and control of essential industries in the post-World War I era.The "Plumb Plan" aimed to reorganize the railroad system under a tripartite management structure involving representatives of the public, management, and labor. This revised edition of the comments offers a critical evaluation of the plan's economic and practical implications. It is a valuable resource for understanding the complexities of early 20th-century American economic thought and the ongoing tensions between private enterprise and government intervention. Scholars of economic history, labor relations, and U.S. political history will find this work an illuminating primary source.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
An Analysis of the Impact of Defense Acquisition Reforms and External Factors On Schedule Growth of Defense Weapon Systems
The growth in the acquisition cycle time of large defense systems from what was planned (i.e., schedule growth) creates several issues for defense acquisition managers and policy makers. These issues include increased likelihoods of cancellations, changes in requirements, and delays in the fielding of improved combat capabilities and replacements for legacy systems, which have resulted in further cost and schedule growth. As a result, Congress, the DoD, and the individual military services implemented several major reforms to address the cost and schedule growth of weapon systems. This research presents an empirical model of schedule growth to evaluate the impact of acquisition reform efforts, defense budget changes, unexpected inflation, and major contingency operations (war) on schedule growth of major weapon systems. A fixed-effects panel regression model was utilized to describe the schedule performance (using earned value data) of the major weapon system programs managed by the Army, Air Force, and Navy from 1980 to 2002. This research found that unexpected inflation results in increased schedule growth.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Texas Banking Crisis, Causes and Consequences
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
Recent research indicates that results of variance-bounds tests of stock price volatility may depend on the definition of cash flows deemed relevant to shareholders: Tests using regular (or "narrow") dividends repeatedly have suggested that stock prices fluctuate more than can be explained by a simple present value hypothesis, while some tests using "broad dividends" (i.e., narrow dividends plus proceeds from share liquidations) do not detect such excess price volatility. Researchers disagree as to the cause and meaning of these differences. This paper derives and analyzes the broad-dividend version of the present value hypothesis to show that under common assumptions, these differences in variance-bounds tests have only two possible causes: Either narrow-dividend tests have rejected the present value hypothesis because of bubbles (either rational bubbles, or "empirical" bubbles as might be effected by dividend-smoothing or dividend-nonpayment); or broad-dividend tests simply have lacked power to detect mispricing. Using simulation and results from previous studies, this paper demonstrates that the second possible cause -- the lack of power in broad-dividend tests -- most likely explains the differences between narrow- and broad-dividend variance-bounds tests.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
We model the effects on banks of the introduction of a market for credit derivatives--in particular, credit default swaps. A bank can use such swaps to temporarily transfer credit risks of their loans to others, reducing the likelihood that defaulting loans would trigger the bank's financial distress. Because credit derivatives are more flexible at transferring risks than are other, more established tools, such as loan sales without recourse, these instruments make it easier for banks to circumvent the ``lemons'' problem caused by banks' superior information about the credit quality of their loans. However, we find that the introduction of a credit derivatives market is not necessarily desirable because it can cause other markets for loan risk-sharing to break down. In this case, the existence of a credit derivatives market will lead to a greater risk of bank insolvency.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Fundamental Reappraisal of the Discount Mechanism
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Dollarizing Qualitative Discriminators Used in Best Value Source Selections
A steadily decreasing budget affects the quantity and type of purchases made each year by the U.S. Department of Defense. This results in increasingly less money allocated to the different services each year in order to accomplish their individual missions. We are constantly being asked to do more with less and to research better ways in which to conduct our activities in a more effective and efficient manner. While this trend is significantly affecting many areas of the Air Force, it is having an equally significant impact on the conduction of source selections. This thesis examines this issue and proposes a best value method to source selections that compares not only each offeror's proposal prices to one another, but examines other areas as well.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Finance and Economics Discussion Series
The purpose of this study is to determine whether, from a public policy standpoint, divestitures constitute an effective antitrust remedy in bank merger cases. A number of findings emerge from the study: Divested branches have a remarkable survival record; structural changes effected by divestitures tend to persist over time; larger buyers of divested branches tended to be more successful than smaller buyers; divestiture of the target institutions' branches rather than those of applicants proved preferable from an antitrust standpoint; and divested branches selected by the Department of Justice do not perform better than others. The findings suggest that divestitures of bank offices have generally provided an effective public policy remedy.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Logistic and Multiple Regression
This study seeks to predict cost growth in major DoD acquisition programs using logistic and multiple regression. Specifically, this research uses logistic regression to determine whether or not cost growth will occur in a program and if so, then uses multiple regression to determine to what extent that cost growth will occur. We compile data from all defense departments using the Selected Acquisition Reports presented between 1990 and 2002. We combine the efforts of previous research and focus our study on cost growth in research and development dollars for the Engineering Manufacturing Development phase of acquisition. For the logistic regression portion of our research, we produce a seven-variable model that accurately predicts 72 percent of our randomly selected validation data. For multiple regression, we produce a six-variable model that accurately predicts the amount of cost growth incurred for 91 percent of those programs that do incur cost growth. We conclude that the two-step regression methodology offers a significant advantage over traditional methods by removing those data points that do not incur cost growth. We further conclude that there is no significant advantage gained by either isolating each cost variance category individually or by combining these categories.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Lending Functions of the Federal Reserve Banks
The Federal Reserve Archival System for Economic Research (FRASER) started in 2004 as a data preservation and accessibility project of the Federal Reserve Bank of St. Louis. FRASER's mission is to safeguard and provide easy access to the nation's economic history-particularly the history of the Federal Reserve System-through digitization of documents related to the U.S. financial system. FRASER preserves and provides access to economic and banking data and policy documents. To this end, various types of documents have been digitized, including: publications of the Board of Governors of the Federal Reserve System, publications of District Federal Reserve Banks, states and speeches of Federal Reserve policymakers, archival materials of Federal Reserve policymakers, government data publications, statistical releases, books and Congressional hearings.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Income Tax Primer For Farmers, Prepared For The Information And Assistance Of Taxpayers
This primer, originally prepared by the United States Bureau of Internal Revenue, serves as an informational guide for farmers navigating income tax regulations. Designed to assist taxpayers in understanding their obligations, the "Income Tax Primer For Farmers" elucidates the complexities of tax law as it applies to agricultural activities. While tax laws and regulations may have evolved since its original publication, this document offers valuable insight into the historical context of agricultural taxation and provides a foundational understanding of the principles involved. It remains a useful resource for those interested in the history of tax policy and its impact on the farming community.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Management of Energy Savings Performance Contracts
Energy Savings Performance Contracts (ESPCs) originated to accomplish several objectives: (1) to meet energy efficiency goals mandated by executive orders and energy policies; (2) to improve federal government facilities using funds allocated for utility bills; and (3) to receive repayment of expenditures through energy savings reflected in reduced utility bills. In ESPCs, the contractor guarantees savings to the federal government agency. 10 CFR 436 limits the time necessary for payback. However, this regulation and others were written prior to the deregulation of utility companies. This theory is based on the underlying premise that the contractor payback is a direct result of the energy savings. The population of study is all of the Air Force ESPCs. The sampling frame used will be the ESPCs and their task orders (TOs) listed in the Air Force Civil Engineering Support Agency (AFCESA) database. The primary unit of analysis will be the individual task order. Data will be collected from interviews, observations, conferences, archives, and other task order related documents. Using case study methodology, contract financial data, energy rates, contract decision memorandums, contract clauses and statements of work, observation, open interviews, and other relevant meetings and materials will be evaluated to determine whether deregulation has an effect on contractor payback and what the effect entails.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Competitive Military Recruiting
The U.S. military's system of duplicative and competitive active duty recruiting contributes to and perpetuates the failure of DOD-wide recruiting efforts. Given the significant changes in the U.S. economy, and the relinquishment of market-share by the military services associated with the military drawdown of the 1990s, the military's present recruiting strategy will no longer fulfill DOD's personnel readiness requirements. The Army, Navy, Air Force and Marine recruiting forces have tried in vain to increase individual service market-share and the DOD-wide share within the greater employment market. Single-service efforts ostensibly aimed at increasing service market share predominantly impact upon other military services. Current marketing strategies and operations that are redundant and inefficient often cost the DOD more than the value gained in enlistment production increases. Small unit sales tactics and recruiting procedures encourage additional waste through the duplication of recruiting effort and negative military advertising. This monograph concludes that DOD must modify the flawed recruiting strategy if it is to avoid the continuous erosion of personnel readiness into the future. Development and adoption of DOD-wide marketing processes would enhance recruiting force efficiency through effective distribution. The management of prospecting and telemarketing efforts must be centralized and commercialized to enhance recruiter productivity and minimize redundant or high pressure prospecting techniques. Finally, Parallel and competitive recruiting organizations must consolidate to eliminate internal friction. Military readiness is the bill-payer for the inefficient and internally destructive recruiting systems allowed for under Title 10. The Secretary of Defense must exercise his authority under that same body of law to eliminate the destructive competition resident in the parallel recruiting systems of the Army, Navy, Air Force and Marines.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Buying a Better Air Force
The purpose of this study was twofold: to capture the United States (US) government's revealed preference for air superiority using the hedonic pricing approach (HPA) and compare the characteristics of United States Air Force (USAF) fighter aircraft with those of the former Soviet Union to evaluate the effectiveness of the USAF fleet. The resulting analysis showed that the US government is paying for physical and performance characteristics such as engine thrust, service ceiling, range, and large scale integrated circuit technology. However, evidence suggests the government is not paying to have a relative advantage over the enemy based on the physical and performance characteristics analyzed.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Cost Estimation Lessons Learned for Future Submarine Acquisition Programs
The passage and signing of the Weapons Systems Reform Act of 2009 indicated the concern of the President and Congress that Major Defense Acquisition Programs (MDAPs) continue to experience cost problems. One of the most significant cost issues is the Navy's $13 billion annual ship building budget. Indeed, the Government Accounting Office (GAO) reported it is not uncommon for estimates to be off by 20 to 50 percent of the acquisition cost and that the Navy exceeded the budget on a total of 41 ships for $4 billion. The Virginia class submarine program accounted for approximately $1 billion of this cost overrun on its first two hulls . Unplanned acquisition and operations cost growth impacts the Navy's ability to reconstitute and maintain the fleet as planned. A 2005 GAO report stated that 14 percent of the $52 billion allocated for shipbuilding went to pay for cost growth over the previous five year period. In addition, with the increasing federal deficit, continued war in Iraq and Afghanistan, and need for expansion of other government programs, the days of accounting for cost overruns with additional funding may be disappearing.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Cost as an Independent Variable
The purpose of this research was to assess whether Aeronautical Systems Center's (ASC's) acquisition professionals believe Cost as an Independent Variable (CAIV) has enabled their programs and contractors to set and maintain cost objectives. The three major objectives of this thesis are to answer the following questions: First, Do ASC's acquisition professionals believe their programs are setting and maintaining cost objectives? Second, Do ASC's acquisition professionals believe their contractors are setting and maintaining cost objectives? Last, what is the practitioners' perspective of CAIV? This research identified CAIV as being well received by DoD. It also identified that ASC's acquisition professionals believe their programs and contractors are setting and maintaining cost objectives. Through synthesis of the interview answers, a few unexpected practitioners' perspectives emerged as conclusions. First, there are no incentives for DoD programs to implement CAIV.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
An Analysis of the Federal Acquisition Streamlining Act and the Clinger-Cohen Act and Their Effect on Cost Overruns in Department of Defense Contracts
This thesis examines the impact of the Federal Acquisition Streamlining Act (FASA) of 1994 and the Clinger-Cohen Act on cost overruns in Department of Defense (DoD) contracts. Many officials believe that we must change the way we do business to meet the new post-Cold War national security challenges. Changing the way we do business means reforming the acquisition process to deliver weapons systems faster and cheaper. The FASA and the Clinger-Cohen Act made more changes to the acquisition process than any other policy had in the ten years proceding. This research effort studied 220 contracts completed between December 31,1993 and December 31,2001 to determine if cost overruns on contracts completed before the implementation of the FASA and the Clinger-Cohen Act were different than cost overruns on contracts completed after the implementation of the FASA and the Clinger-Cohen Act. The contracts were also subdivided to determine if the results were sensitive to acquisition lifecycle phase, branch of service, or contract type. The results indicate that cost overruns decreased on completed contracts after the implementation of the legislation. The results were sensitive to the branch of service responsible. Air Force contracts experienced no change in cost overruns after the implementation of the FASA and the Clinger-Cohen Act, while cost overruns in Army and Navy contracts decreased. The results were not sensitive to lifecycle phase or contract type.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
GPRA and Its Significance to the Acquisition Workforce
Whether you call it management by objective, balanced scorecard, or total quality management, the principles of the Government Performance and Results Act of 1993 (GPRA), makes good business sense. However, GPRA is not just a fly by night concept, it is the law; slowly taking hold and continuing to evolve. The purpose of GPRA is to ascertain whether an organization is operating efficiently and effectively. Even though the requirements of GPRA apply to federal agency heads, the Acquisition Professional Development Program (APDP) should embrace its intent. The purpose of this research paper is to discuss the concept of GPRA, develop and link goals and performance measures to key APDP processes and provide recommendations to ensure coninuity of the program and overcome the challenges regarding GPRA requirements. Many organizations are struggling with the principles of GPRA and are wrestling with the development, collection and analysis of performance measures.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Cost Forecasting Models for the Air Force Flying Hour Program
The fiscally constrained environment in which the Air Force executes its mission places great emphasis on accurate cost estimates for planning and budgeting purposes. Inaccurate estimates result in budget risks and undermine the ability of Air Force leadership to allocate resources efficiently. This thesis evaluates the current method used by the Air Force and introduces new methods to forecast future Flying Hour Program costs. The findings suggest the current forecasting method's assumption of a proportional relationship between cost and flying hours is inappropriate and the relationship is actually inelastic. Prior research has used log-linear least squares regression techniques to forecast Flying Hour Program cost, but has been limited by the occurrence of negative net costs in the underlying data. This research uses time series and panel data regression techniques while controlling for flying hours, lagged costs, and age to create net costs models and an alternative model by separately estimating the two components of net costs which are charges and credits. Finally, this research found neither the proportional, net costs, nor charge minus credit models is a superior forecaster. As such, the models introduced in this research may be used as a cross check for the current method.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Aldrich Plan For Banking Legislation
The Aldrich Plan For Banking Legislation presents the proposed reforms submitted to the National Monetary Commission. Authored primarily by Senator Nelson Wilmarth Aldrich, the plan was a significant attempt to address the shortcomings in the American banking system during the early 20th century.This historical document offers insights into the debates and considerations that shaped early financial policy in the United States. It provides valuable context for understanding the evolution of banking regulations and the establishment of the Federal Reserve System. Students of economic history and financial policy will find this a useful resource.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Establishing a Foundation to Capture the Cost of Oversight for a Major Defense Program Within the Information Technology Acquisition Community
In 1970 the Department of Defense introduced the Department of Defense Directive 5000 to standardize the acquisition process; the directive created oversight forums to ensure the policies and procedures created were followed, track program progress, and identify programs in trouble. Although oversight was essentially created to help reduce the cost of acquisitions, there is reason to believe that it may increase the costs; however, because there has only been a few studies conducted that estimated the cost of oversight no one knows how much oversight costs individual programs. Numerous oversight processes are being used today, but no research shows one process is any different from the other. Nor have studies been done to determine the cost drivers for oversight. This thesis will provide a foundation and potential cost saving recommendations that would benefit the Department of Defense in most of the acquisition programs it monitors. An estimated cost of oversight will be calculated for programs following three different oversight processes using the Delphi Methodology. The estimates will be compared to determine if there are any statistical differences between them. A future track for the next generation of oversight processes will develop from the recommendations.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Department of Defense
In support of senior leadership emphasis on improving early systems engineering and analysis, the Enterprise Requirements and Acquisition Model(ERAM) is a quantitative discrete-event process simulation model that accounts for activities from the identification of a desired space capability early in the JCIDS process through Milestone C of the acquisition system resulting in a probabilistic schedule distribution for a given concept. This model of the DoD's space capability development process will provide valuable decision making information for Concept Characterization and Technical Descriptions referenced during Analysis of Alternatives. The research focused on identifying activities, assigning historical triangular distributions and probabilities at each decision point. Data was collected through analysis of applicable policy, instructions, and journal articles as well as interviews with subject matter experts from the Air Staff, Air Force Space Command and the Space and Missile Systems Center.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
The Impact of the Packard Commission's Recommendations on Reducing Cost Overruns in Major Defense Acquisitions Programs
The phenomenon of cost overruns in Department of Defense acquisitionprograms has been a problem for decades. In fact, regulations to controldefense procurements extend as far back as the 1940's. However, thesepolicies have accomplished little in controlling or reducing the problem. A 1993Rand Corporation study discussed the extent of cost growth in the DoD andindicated that cost growth has fluctuated around 20 percent since the mid 1960'sand that little improvement has occurred over time (Drezner and others, 1993:2).Other research indicates that the average cost overrun on DoD acquisitioncontracts is approximately 40 percent (Gansler, 1989:4). However onemeasures the unplanned cost increases (growth or overruns to be explainedlater in this thesis) is academic; the magnitude of the problem persists and isreadily seen as 20 to 40 percent can represent a notable loss.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Budget Guide for Jail Administrators
Designed for jail administrators, this guide provides an overview of jail budget management, along with relevant responsibilities and strategies. Key aspects of jail budget management examined include: Budget implementation -- developing and using a plan to monitor expenditures; Budget management -- monitoring, managing, and controlling expenditures while garnering support; Jail revenue monitoring and management -- developing revenue plans; Performance monitoring -- establishing targets; Management through budget crisis -- factors influencing increased, decreased, or insufficient revenue; And the jail budget as a powerful administrative tool.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Jet Fuel Hedging Strategies for the Department of Defense Through Use of Financial Derivatives
The primary purpose of this research is to assess the practicality of utilizing some of the financial derivative products available on the market today in an effort to mitigate monetary losses due to the increasing price of jet fuel, thereby increasing stability in the DOD budget. The scope of this research will focus on the use of futures and call option contracts. Domestic jet fuel expenditure data was collected for Fiscal Years 1996 to 2007 and cross-referenced with the contract process of the previously mentioned financial hedging instruments during the same period of time. Results from the ex post facto analysis indicate that hedging with either heating oil futures or heating oil call options would have provided a tremendous overall savings to the DOD. Currently the DOD does not hedge its budget against fluctuation in the jet fuel spot market. The implication from this study is that the DOD should consider hedging its jet fuel exposure with either derivative, in particular call options as it is tailored for risk adverse customers.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
An Eye for Money
Printed in color for the best reading experience.AN EYE FOR MONEY: Understanding the Three Phases of Financial Life: Setting Financial Goals, Managing Investments, and Estate Planning for Everyone offers a fresh, real-world approach to managing your financial life by organizing it into the three natural phases we all go through: building wealth (Accumulation), creating income in retirement (Income), and preserving and passing on assets (Distribution). Whether you're just starting out, preparing for retirement, or leaving a legacy, this book provides clarity and confidence to make sound financial decisions-no matter how the world changes around you.With years of experience advising individuals, families, and institutions, John Paul (JP) Phaup delivers practical guidance on investing, setting financial goals, understanding risk, and protecting assets through thoughtful estate planning. His approachable style simplifies complex concepts without watering them down, making this an accessible guide for readers at any life stage or wealth level.The book also offers valuable insights for highly compensated professionals and higher net worth individuals, covering topics like tax planning, charitable giving, and multi-generational wealth strategies.Drawing from twenty-eight years in wealth management, charitable strategy, and financial education, JP shares a grounded, practical roadmap to lasting financial well-being. If you're looking to build a secure financial future with confidence, AN EYE FOR MONEY belongs on your shelf.
Military Transition to Contractors
The cost of modern joint/coalition warfare is rapidly rising and our nation's ability to address this trend while maintaining the effectiveness of our fighting force will pose a significant challenge for the foreseeable future. In line with the overall government trend towards privatization and outsourcing, much attention has been focused in the past five years on the employment of contractors through private military firms (PMF) and the defense industry to alleviate some of the pressure generated by soaring personnel costs. By contracting out various functions that are deemed "not inherently military" and applying what are commonly termed "best business practices", the Department of Defense has embarked on a determined campaign to reduce the "bottom line" of manpower accounts with a post Cold War target of 700,000 uniformed military personnel.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Diversity In The Financial Services Industry And Access To Capital For Minority-owned Businesses
The BiblioGov Project is an effort to expand awareness of the public documents and records of the U.S. Government via print publications. In broadening the public understanding of government and its work, an enlightened democracy can grow and prosper. Ranging from historic Congressional Bills to the most recent Budget of the United States Government, the BiblioGov Project spans a wealth of government information. These works are now made available through an environmentally friendly, print-on-demand basis, using only what is necessary to meet the required demands of an interested public. We invite you to learn of the records of the U.S. Government, heightening the knowledge and debate that can lead from such publications.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Self-regulatory Organizations
The BiblioGov Project is an effort to expand awareness of the public documents and records of the U.S. Government via print publications. In broadening the public understanding of government and its work, an enlightened democracy can grow and prosper. Ranging from historic Congressional Bills to the most recent Budget of the United States Government, the BiblioGov Project spans a wealth of government information. These works are now made available through an environmentally friendly, print-on-demand basis, using only what is necessary to meet the required demands of an interested public. We invite you to learn of the records of the U.S. Government, heightening the knowledge and debate that can lead from such publications.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Alphabetical List Of National Banks, With The Associations At Which Their Notes Are Redeemed
This is an alphabetical listing of national banks in the United States, along with the associations through which their notes are redeemed. The list also includes national banks in principal cities and the associations whose notes they redeem. A valuable historical resource for researchers and anyone interested in the history of banking and currency in the United States during the late 19th century, this book provides a snapshot of the national banking system during its formative years. It offers insight into the relationships between banks and redemption associations, crucial for maintaining the stability and circulation of national bank notes.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Award Term Incentive Contracting
This research explored implementing a best commercial practice of establishing strategic purchasing relationships within the Department of Defense (DOD) procurement environment. The research was sparked by Air Force Material Command's (AFMC) instituting a commercial style acquisition strategy using an award term incentive on several programs. The award term incentive provides for extensions or reductions to the term of the contract based on contractors' level of performance. Forthcoming implementation of Air Force FAR supplement 5317.7X, Incentive Term Extension, will likely increase the number of acquisitions using an award term incentive. Research findings indicate that management should consider expanding the AFMC award term guidance to include the model developed from this research, which identifies decision criteria for selecting the award term incentive strategic purchasing method. Findings indicate that the acquisition professionals may not have the expertise or related purchasing skills necessary to establish strategic purchasing relationships for commercial type performance based services and that training is needed. The researcher also uncovered evidence that instability and reductions in the DOD workforce affects acquisition professionals' ability to maintain currency with the changing legal environment. Further, workforce instability and reductions may influence the implementation of strategic contractual relationships. The research concludes that implementing the award term incentive affects the DOD competitive market.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
