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Corporate debt, hybrid securities and the effective tax rate
Panteghini, Paolo (contributor) - 2008
In this article we use contingent-claim analysis to calculate the effective tax rate (ETR) under corporate debt finance. In particular, we deal with both pure debt and two of the most well-known hybrid securities, i.e., convertible, and reverse convertible bonds. We show that: 1) effective...
Persistent link: https://www.econbiz.de/10003720594
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Using chebyshev polynomials to approximate partial differential equations
Caporale, Guglielmo Maria (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003712503
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Health adjusted GDP (HAGDP) measures of the relationship between economic growth, health outcomes and social welfare
Clarke, Matthew; Islam, Sardar M. N. - 2003
they can fail to adequately consider social welfare issues, such as equity and efficiency. Social choice theory allows … growth on social welfare. Social choice theory incorporates the various social concerns that are not adequately captured … (costs and benefits) using Thailand and Australia as case studies, from 1975 to 1999. Two health adjusted gross domestic …
Persistent link: https://www.econbiz.de/10011509333
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Progressive tax changes to superannuation in a lifecycle framework
Kudrna, George; Woodland, Alan D. - 2015
superannuation (Australia.s term for private pensions) with traditional EET and TEE regimes. These taxation regimes exempt pension … free. Using an overlapping-generations model calibrated for Australia, we find that these hypothetical superannuation tax …
Persistent link: https://www.econbiz.de/10011404438
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Carbon Leakage and capacity-based allocations : is the EU right?
Meunier, Guy; Ponssard, Jean-Pierre; Quirion, Philippe - 2012
based allocation (Australia, California, New Zealand) and capacity based allocation (EU). This paper characterizes the best …
Persistent link: https://www.econbiz.de/10009687241
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Optimal taxation, child care and models of the household
Apps, Patricia; Rees, Ray - 2014
This paper presents the properties of optimal piecewise linear tax systems for two-earner households, based on joint and individual incomes respectively. A key contribution is the analysis of the interaction between second earner wage differences, variation in the price of child care and...
Persistent link: https://www.econbiz.de/10010229858
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Taxation under uncertainty problems of dynamic programming and contingent claims analysis in real option theory
Niemann, Rainer; Sureth, Caren - 2002
This article deals with the integration of taxes into real option-based investment models under risk neutrality and risk averison. It compares the possible approaches dynamic programming and contingent claims analysis to analyze their effects on the optimal investment rules before and after...
Persistent link: https://www.econbiz.de/10011409752
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Incentives to (irreversible) investments under different regulatory regimes
Scarpa, Carlo; Panteghini, Paolo - 2001
analysed in the light of option theory and explained on the basis of the bad news principle . …
Persistent link: https://www.econbiz.de/10011397941
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A structural model of tenure and specific investments
Teulings, Coen N.; Ende, Martin Adriaan van der - 2001
Though a lot of work has been done on the distribution of job tenures, we are still uncertain about its main determinants. In this paper, we stress random shocks to match productivity after the start of an employment relation. The specificity of investment makes hiring and separation decisions...
Persistent link: https://www.econbiz.de/10011399579
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Model averaging and value-at-risk based evaluation of large multi asset volatility models for risk management
Pesaran, M. Hashem (contributor);  … - 2004
This paper considers the problem of model uncertainty in the case of multi-asset volatility models and discusses the use of model averaging techniques as a way of dealing with the risk of inadvertently using false models in portfolio management. In particular, it is shown that under certain...
Persistent link: https://www.econbiz.de/10002523934