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The prolonged RMB appreciation affects Macao deeply and requires a major monetary reform without further delay. What we … propose for Macao reform as an optimal choice includes shifting its monetary anchor to the strong RMB, revaluing its domestic … currency to the original level, and setting up a sovereign wealth fund for autonomous growth. This proposal is based on Macao …
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This study shows that whether a tax is heavy for local casinos in terms of economy-wide efficiency hinges on how much of the tax can be passed on to tourists. The division of the tax burden between casinos and tourists is affected by the relative elasticity of demand versus supply and...
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