One of the main provisions of the 2012 Farm Bill is a “shallow-loss” program. This program is being portrayed as a safety net, but there are significant questions that must be examined before the program is enacted. At this event, Vince Smith and Barry Goodwin will discuss these questions and will release new research and analysis on the cost of shallow-loss programs.

Market-based measures of public pensions funding may better informstate governments and taxpayers of the liabilities and risks they face.

Because the GASB’s proposals ignore government's contingent liability to pay plan benefits should assets fall short, they omit the full value of plan liabilities and contradict the GASB's own standard of "interperiod equity."

This AEI working paper presents an alternate approach to market valuation of public pension liabilities based upon options pricing methods.

The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

Weather change and its consequences are inevitable.  Governments and rating agencies around the world have tools  to “motivate” short-term-focused insurers to broaden their risk perspectives, with their executives facing personal liabilities if their coverage reserves fall short. Without more aggressive moves, the rest of the world could end up like Grenada and Jamaica, circa 2004.

Using fair-market valuation, Nevada PERS’ unfunded liabilities would rise from about $10 billion to almost $41 billion. Shifting PERS to a defined-contribution, 401(k)-type structure would ensure that benefit obligations are fully funded going forward and that everyone is clear regarding the pensions promises the government has made and its ability to fulfill them.

GOP presidential candidate Herman Cain’s 9-9-9 tax plan has incited energized discussion about the impact of taxes on Americans. At this event, Mr. Cain will discuss the details of his plan in a conversation with AEI’s Kevin Hassett. Following the discussion, a panel of experts will debate the merits and liabilities of 9-9-9.