This paper investigates the effects of investment subsidies on the accumulation decisions of a sample of Italian manufacturing firms. We use survey information on the subjective evaluation of the investment activity that the recipient firm would have undertaken, had it not been financed. We find...

The extent of output growth, hence, productivity growth in service industries has been controversial. Although official data indicate productivity growth slowdowns in 1948-60 and 1979- 98, some economists suggest the official figures are inaccurate due to mismeasured output, inputs, or both. The...

Since independence the countries of Central Asia embarked upon liberal reforms in their economic policies, including trade. However, persistence of formal and informal barriers to trade in general, and to services in particular, impedes further liberalization and development of the service...

This paper investigates the effects of subsidies on the investment decisions of a sample of Italian manufacturing firms. We use survey information on firms' subjective evaluations of the investment they would have undertaken without financing, finding that subsidies have limited effectiveness as...

The closing of tax loopholes is one important instrument for fiscal consolidation. We concentrate on the value added tax exemption of banking services in Germany. The potential tax revenue under full value added taxation cannot be estimated from national accounting data, as it is necessary to...

Sustainable energy systems of the future will need more than efficient, clean, low-cost, renewable energy sources; they will also need efficient price signals that motivate sustainable energy consumption as well as a better real-time alignment of energy demand and supply. The Power Trading Agent...

A debate is raging over the taxation of private equity and hedge fund managers. It is being played out in the headlines, in Congress and among legal scholars. This paper offers a new analysis of the subject. We provide an analytical model that allows us to compare the relative risk-reward...

In this Article, I estimate the tax revenue effects of taxing private equity carried interests as ordinary income rather than as long-term capital gain as under current law. Under reasonable assumptions, I conclude that the expected present value of additional tax collections would be between 1...

This paper describes the EC directive on capital duties and its evolution or gradual suppressing. The paper is meant to form a chapter on a book on EU taxation. It reviews case law and modifications to the directive

A cybernetic perspective is used to evaluate firms with or without stakeholder participation in their information and control architecture. This approach also provides a basis for evaluating firms with more than one board or control center as found in Japan, Europe, and labor-managed firms....