Foreign ownership of U.S. real estate has grown at a rapid pace during the 1980s. This paper demonstrates that avoidance and evasion of the capital gains tax are particularly difficult problems facing state governments in the case of foreign resales of domestic real estate interests. The paper...

Many tourist industry officials often lobby their local governments to invest heavily airport infrastructure (e.g. longer runways and larger terminals) in order to accommodate direct flights. We evaluate the impact of the recent initiation of direct flights from the U.S. west coast to Hawaii's...

In this paper we forecast Japanese international travel to 2025. In addition to the usual economic variables, our model also captures both population aging and cohort effects on Japanese travel abroad. We predict the number of future Japanese overseas trips for males and females separately by...

Economic theory suggests that switching from a general property tax to a split-rate tax increases land use efficiency and stimulates urban core development while preserving the environment and reducing urban sprawl. Under split-rate property taxation, land is typically taxed at a significantly...

The Passenger Vessel Services Act (PVSA) of 1886, a cabotage law, attempts to shield U.S. maritime shipping from foreign competition. It also applies to the U.S. cruise ship industry. The PVSA requires foreign cruise ships that carry passengers between U.S. ports to also stop at foreign ports....