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Optimal Resource Extraction Contracts Under Threat of Expropriation
Engel, Eduardo M.R.A.; Fischer, Ronald David - National Bureau of Economic Research (NBER) - 2008
The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and … which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation, which generates a … with high probability of expropriation. The contract can be implemented via a competitive auction with reasonable …
Persistent link: https://www.econbiz.de/10005777908
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Reducing Greenhouse Gas Emissions by Forest Protection: The Transaction Costs of REDD
Alston, Lee J.; Andersson, Krister - National Bureau of Economic Research (NBER) - 2011
Understanding and minimizing the transaction costs of policy implementation are critical for reducing tropical forest losses. As the international community prepares to launch REDD+, a global initiative to reduce greenhouse gas emissions from tropical deforestation, policymakers need to pay...
Persistent link: https://www.econbiz.de/10008836719
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On the Timeliness of Tax Reform
Hines, James R. Hines, Jr. - National Bureau of Economic Research (NBER) - 2002
This paper analyzes efficient reactions of policy makers to unanticipated tax avoidance. The strategy of many governments is to reform their tax laws and regulations to reduce the effectiveness of elaborate tax avoidance techniques as soon as they are identified. This tax reform process can...
Persistent link: https://www.econbiz.de/10005714856
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Capital Levies and Transition to a Consumption Tax
Kaplow, Louis - National Bureau of Economic Research (NBER) - 2006
The merits of capital levies depend on the likelihood of repetition, the extent of anticipation, and its effects on distribution. The relevance of these features, which in varying degrees is underdeveloped or underappreciated in pertinent literatures, is elaborated and then considered with...
Persistent link: https://www.econbiz.de/10005830739
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Energy Taxes and Aggregate Economic Activity
Rotemberg, Julio; Woodford, Michael - National Bureau of Economic Research (NBER) - 1993
This paper shows that the output losses from energy taxes are significantly larger than usually computed when due account is taken of imperfect competition among energy using firms. Even with perfect competition among these firms, the loss in GNP is of the same order of magnitude as the revenue...
Persistent link: https://www.econbiz.de/10005775118
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Optimal Taxation of Entrepreneurial Capital with Private Information
Albanesi, Stefania - National Bureau of Economic Research (NBER) - 2006
. Entrepreneurial activity is subject to a dynamic moral hazard problem and entrepreneurs face idiosyncratic capital risk. We first … risk, which determines their hedging value. Entrepreneurial capital always receives a subsidy relative to other assets in …
Persistent link: https://www.econbiz.de/10005777891
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Tax Policy and the Efficiency of U.S. Direct Investment Abroad
Hines, James R. Hines, Jr.; Desai, Mihir A.; Foley, C. Fritz - National Bureau of Economic Research (NBER) - 2011
Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as …-2010, repatriated earnings from foreign affiliates exceeded net capital investments by $1.1 trillion in 2010 dollars; and from 1950 …-2010, repatriated earnings and net interest from foreign affiliates exceeded net equity investments and loans by $2.1 trillion in 2010 …
Persistent link: https://www.econbiz.de/10009151251
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A Unifying Model of How the Tax System and Generally Accepted Accounting Principles Affect Corporate Behavior
Shackelford, Douglas A.; Slemrod, Joel; Sallee, James M. - National Bureau of Economic Research (NBER) - 2007
This paper models the impact of the tax system and GAAP on the real and financial reporting decisions of corporations. It provides a first step toward joint evaluation of taxation and financial reporting in the standard economic analyses of corporate behavior. The key finding is that value...
Persistent link: https://www.econbiz.de/10005723068
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Optimal Taxation in Theory and Practice
Weinzierl, Matthew C; Mankiw, N. Gregory; Yagan, Danny - National Bureau of Economic Research (NBER) - 2009
We highlight and explain eight lessons from optimal tax theory and compare them to the last few decades of OECD tax policy. As recommended by theory, top marginal income tax rates have declined, marginal income tax schedules have flattened, redistribution has risen with income inequality, and...
Persistent link: https://www.econbiz.de/10005660153
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Lessons from Patents: Using Patents To Measure Technological Change in Environmental Models
Popp, David - National Bureau of Economic Research (NBER) - 2003
When studying solutions to long-term environmental problems such as climate change, it is important to consider the role that technological change may play. Nonetheless, to date few economic models of climate change explicitly model the link between policy and technological change. There is a...
Persistent link: https://www.econbiz.de/10005778210