Reorganization Costs Research Articles

Optimal Policies for Data Base Reorganization

One of the problems faced by a Data Base Administrator is the determination of a file reorganization policy. The Data Base Administrator has to balance the benefits of a reorganization, which restores processing efficiency and hence reduces operating costs, against the extra expenditures involved (unloading and reloading the files, system unavailability costs, etc.). In this paper we consider both policies of state-dependent reorganization and reorganization at fixed time intervals. We prove that the optimal state-dependent policy belongs to the class of control-limit rules, and show how the optimal control-limit can be evaluated. We then consider the policy of reorganization at fixed time intervals, and show that, when the record arrival process is Poisson, this policy is always inferior to the optimal control-limit rule (for the average-cost criterion). We conclude with an example where operating and reorganization costs increase linearly with system occupancy.

Deposit Insurance and Bank Regulation: A Partial-Equilibrium Exposition

The argument, elaborated most convincingly by Milton Friedman (1962) is familiar to most if not all monetary economists. A fractional-reserve banking industry is inherently unstable. That is what the U.S. Congress acknowledged, if somewhat belatedly, when in 1913 it created a lender of last resort, the Federal Reserve System. But the system, once hailed by Irving Fisher as the guarantor of perpetual prosperity, was a terrible disappointment. It failed miserably the test posed by the depression of 1929 (or had the System done what it was supposed to do, what would have been the recession of 1929). There was an epidemic of bank failures in 1930-31. And in 1932-33 there was another epidemic, even more serious, which culminated in the banking holiday of 1933. So the Congress, having discovered that the industry it thought it had made panic proof was still panic prone, established another agency of government-the Federal Deposit Insurance Corporation, to insure certain of the liabilities of commercial banks operating within U.S. boundaries. And if it did not do as well by U.S. citizens as it might have, what it did was extremely helpful. To quote Friedman: . . federal deposit insurance has performed a signal service in rendering the banking system panic-proof . . .' (1959, p. 38). In his view, the In this paper we examine the equilibrium of the banking industry under various regulatory schemes. There are several critical assumptions: There are complete contingent-claims markets; the banking industry is a monopoly supplier of deposit services, but is otherwise 'small; banks are limited-liability corporations and are subject to bankruptcy reorganization costs. Among the more important conclusions are the following: (1) Absent deposit insurance and regulation, bankruptcy does not occur; (2) under an FDIC-type insurance scheme, the banking industry holds as risky a portfolio as regulations allow; and (3) a capital requirement, by itself, does nothing to forestall bankruptcy.

Optimal reorganization of distributed space disk files

In most database organizations, the cost of accessing the database will increase due to structural changes caused by updates and insertions. By reorganizing the database, the access costs can be reduced. A basic problem is to establish the proper tradeoff between performance, storage costs, and reorganization costs. This paper considers the optimum points at which to reorganize a database. A disk file organization which allows for distributed free space is described. A cost function describing the excess costs due to physical disorganization is defined, and this function is minimized to obtain the optimum reorganization points. Numerical examples based on the characteristics of existing disk storage devices are given.

A dynamic database reorganization algorithm

Reorganization is necessary in some databases for overcoming the performance deterioration caused by updates. The paper presents a dynamic reorganization algorithm which makes the reorganization decision by measuring the database search costs. Previously, the reorganization intervals could only be determined for linear deterioration and known database lifetime. It is shown that the dynamic reorganization algorithm is near optimum for constant reorganization cost and is superior for increasing reorganization cost. In addition, it can be applied to cases of unknown database lifetime and nonlinear performance deterioration. The simplicity, generality, and efficiency appear to make this good heuristic for database reorganization.

Certain Tax Aspects of Organization, Reorganization, and Liquidation Costs

Certain Tax Aspects of Organization, Reorganization, and Liquidation Costs

The Effect of Changed Economic Conditions and State Insurance on Private Pension Fund Benefits, Contributions and Valuations

Twice in the past forty years war has abruptly changed economic conditions in the country and the new economic conditions have in their turn affected the circumstances of all pension funds. Before the war of 1914–18, the great majority of pension funds provided pensions based on the average salary through the period of service for a low contribution rate, The inflation of salaries and wages between 1914 and 1919 disclosed the weakness of the system since the pensions provided proved to be small in comparison with the new level of remuneration and to be inadequate to support the member during retirement. The experiences of this period led to the adoption of the system of basing the pension on the remuneration of the final year of service or of the average remuneration of the years immediately prior to retirement, The financing of the additional pensions to members for whom pensions on the pre-1914 basis had been provided and the establishment of the new system for members currently contributing was materially assisted by the high yield obtainable on investments. It should be added that for a scheme with funds invested before 1914 the depreciation of assets due to the high interest rates which had been obtaining immediately after the war increased the cost of reorganization of the scheme.

The Cost of Corporate Reorganization under the Chandler Act

The Cost of Corporate Reorganization under the Chandler Act