Abstract

This paper contributes to the debate about determining the proper procedures for the conversion of damages calculated in foreign currency into U.S. dollars by offering general guidelines applicable to tort claims. The analysis expands beyond the typical discussion of selecting the appropriate conversion date by examining other relevant economic factors such as exchange rate risk allocation, the application of an adequate interest rate for the calculation of pre- and post-judgment interest, and the implications of the currency in which the plaintiff suffers the loss. While aiming at properly and fairly compensating the plaintiff as the essential goal of the law on damages, the general guidelines for damages conversion presented rely more on economic principles than on legal arguments.

Abstract

This paper updates the Skoog-Ciecka-Krueger (2011) study which used 2005-09 U.S. population labor force data to estimate worklife expectancies. This update presents estimates using 2012-17 labor force data for persons ages 18 and over by sex and education. These updated estimates are presented as before as a set of worklife tables, including extended probability calculations and other statistical measures useful to forensic economists. Transition probabilities, by age, gender, and education, are contained in the electronic supplementary materials.

Abstract

In this paper, we estimate characteristics of years to final separation from the labor force. We use data for the same time period, the same data set, the same education groups for both genders, and similar recursive methods as in our paper on years of labor force activity (Skoog, Ciecka, and Krueger, 2019). Years of labor market activity are a subset of years to final separation from the labor force, with the latter including any years of inactivity that occur prior to final labor force separation. The last set of extended tables for years to final separation from the labor force appeared in 2003 and was based on 1997-98 data (Skoog and Ciecka, 2003).

The associates listed here have become members since the last issue of the JFE.

Matt Amoroso

2800 Euclid Ave., Ste. 300

Cleveland, OH 44115

m.amoroso@burkerosen.com

(216)566-9300 × 9300

Bret Anderson

1250 Siskiyou Blvd., Taylor 220

Ashland, OR 97520

bret.econ@gmail.com

(970)203-4462

Luis Barahona

610 NW 13th St., Apt. 32

Boca Raton, FL 33486

lbarahona@dbllp.com

(786)707-8092

Robert Baumann

Box 192A, 1 College St.

Worcester, MA 01610

rbaumann@holycross.edu

(508)793-3879

Richard Brown

9032 F. East Amherst Drive

Denver, CO 80231

dickscuba@gmail.com

(303)695-6388

Finnie Cook

100 N. Tampa St., Ste. 2410

Tampa, FL 33602

fcook@dsdc.info

Aubrey Corwin

3030 N. Central, 603

Phoenix, AZ

General Guidelines for the Conversion of Damages Calculated in Foreign Currency: Tort Claims

Abstract

The Markov Model of Labor Force Activity 2012-17: Extended Tables of Central Tendency, Shape, Percentile Points, and Bootstrap Standard Errors

Abstract

The Markov Model of Years to Final Separation from the Labor Force 2012-17: Extended Tables of Central Tendency, Shape, Percentile Points, and Bootstrap Standard Errors

Abstract

Incongruent Court Advice: Examining Fair Value and Fair Market Value Standards in Commercial Damage Cases Pursuant to Minority Claims

Abstract

Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of New Mexico

Abstract

Update to Assessing Economics Damages in Personal Injury and Wrongful Death Litigation: The State of West Virginia

Abstract

NAFE Members Directory

Mothers’ Worklives and Marital Status

Personal Consumption and Single Persons: An Update

A Closer Look at Race, Ethnicity, and Gender Neutral Models

Life-Cycle Estimates of Earnings Growth by Education and Gender

Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Montana