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fixed estimate of the net VSLY. This estimate was $151,000 16 in 2006, which inflates to$157,795 in 2008 dollars. This is very similar to the average net VSLY estimated using theAccess Economics (2008) meta-analysis, and is suggested for calculations in modellinghere.2.3.7 NET PRESENT VALUE AND THE DISCOUNT RATEWhere future costs are ascribed to the year 2007 throughout the report the formula forcalculating the NPV of those cost streams is provided below.NPV = ΣC i /(1+r)^i where i=0,1,2….nwhereC i = cost in year i, n = years that costs are incurred and r = discount rate.Choosing an appropriate discount rate is a subject of some debate, as it varies depending onwhat type of future income or cost stream is being considered. The discount rate needs toappropriately take into account risks, inflation and positive time preference. Risk and positive time preference: The minimum option that one can adopt indiscounting future expected healthy life streams and other costs is to set future valueson the basis of a risk free assessment about the future i.e. assume the future flows aresimilar to the certain flows attaching to a long term Government bond. From recenthistory, the long term nominal bond rate has averaged 5.8% per annum (Figure 2-12).If there were no positive time preference, people would be indifferent between havingsomething now or a long way off in the future, which applies to all goods and services.FIGURE 2-12: TEN-YEAR GOVERNMENT BOND YIELDS (DAILY)Source: Bloomberg, Reserve Bank of Australia.Inflation: The Reserve Bank has a clear mandate to pursue a monetary policy thatdelivers 2% to 3% inflation over the course of the economic cycle. This is a realisticlonger run goal and an inflation rate in this range (2.8%) is used in arriving at thediscount rate for healthy life below. It is important to allow for inflation in order to derivea real rather than nominal rate.16 http://www.finance.gov.au/obpr/cost-benefit-analysis.html50
In discounting healthy life and other costs, a real discount rate for Australia isthus suggested of (5.8 – 2.8 =) 3%.51
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June 2009Positive Family Functionin
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3.8 Reconnect......................
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ACKNOWLEDGEMENTSAccess Economics wo
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NESSNFFNPVPFFPIMTriple-PPUPRCTREACh
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A simple definition of PFF could no
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ehaviour during youth and later in
Page 13 and 14:
Alternatives to such a partnership
Page 15 and 16: ooCommunities for childrenInvest an
Page 17 and 18: 1. MEANING AND MEASUREMENTWorking d
Page 19 and 20: Fletcher (2007) presented the New Z
Page 21 and 22: DomainEmotionalGovernanceEngagement
Page 23 and 24: ModelTABLE 1-2: THEORETICAL MODELS
Page 25 and 26: In times of crisis we can turn to e
Page 27 and 28: 2. MEASURING OUTCOMESImpacts from F
Page 29 and 30: TABLE 2-1: MATERNAL AND PATERNAL IN
Page 31 and 32: Parental limit setting, family conf
Page 33 and 34: studied in the literature and separ
Page 35 and 36: TABLE 2-7: FAMILY RISK FACTORS ASSO
Page 37 and 38: FIGURE 2-4: PARENTAL INPUTS (AGE TH
Page 39 and 40: exacerbated by the formation of aff
Page 41 and 42: Productivity outcomes appear to be
Page 43 and 44: Danish National Longitudinal Study
Page 45 and 46: Key research question 14: how the i
Page 47 and 48: ut could not (until further Waves o
Page 49 and 50: FIGURE 2-6: LONGITUDINAL PATHWAYS T
Page 51 and 52: only be useful in providing informa
Page 53 and 54: FIGURE 2-9: CONCEPTUAL MAP FOR VALU
Page 55 and 56: Productivity losses would best be m
Page 57 and 58: Short term productivity costsThe fr
Page 59 and 60: The expected retirement age by the
Page 61 and 62: (discussed previously in Section 2.
Page 63 and 64: Aids and home modificationsAlthough
Page 65: The extensive literature in this fi
Page 69 and 70: proximal risk factors are those tha
Page 71 and 72: ages of 18-24 months and between 4
Page 73 and 74: TABLE 3-4: MATERNITY IMMUNISATION A
Page 75 and 76: Family Relationship Centres are a f
Page 77 and 78: Increased contentment in children w
Page 79 and 80: TABLE 3-7: FAMILY DISPUTE RESOLUTIO
Page 81 and 82: 3.3.1 COMMUNITIES FOR CHILDRENProgr
Page 83 and 84: Quantitative and qualitative data w
Page 85 and 86: This initiative developed out of a
Page 87 and 88: FIGURE 3-2: DIAGRAM OF TRIPLE P SYS
Page 89 and 90: TABLE 3-11: RESULTS OF META-ANALYSE
Page 91 and 92: This section on early childhood int
Page 93 and 94: Table 3-14 displays a summary of th
Page 95 and 96: TABLE 3-15: BCR OF ECE PROGRAMSSour
Page 97 and 98: 3.6 PEEL CHILD HEALTH SURVEYThe Pee
Page 99 and 100: Research on efficacy - Evaluation o
Page 101 and 102: Education participation levels rema
Page 103 and 104: For FLW, outcomes assessment was re
Page 105 and 106: whether children, families and comm
Page 107 and 108: Mothers of 36 month olds were repor
Page 109 and 110: The effects associated with SSLPs a
Page 111 and 112: social context of the family.Self-r
Page 113 and 114: social and emotional development of
Page 115 and 116: analyses can be broken down further
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4. CONCLUSIONThe method proposed fo
Page 119 and 120:
Australian Institute of Family Stud
Page 121 and 122:
Duncan J, Bowden C, Smith AB (2005)
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Mathers C, Vos T, Stevenson C (1999
Page 125 and 126:
Sanders MR (2003) ‘Triple P - Pos
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