In this paper, an analytical framework is developed to measure the economic opportunity cost of capital and foreign exchange. An application of the framework is carried out for the Philippines. The results indicate that the economic cost of capital is approximately10% real for the Philippines....

A broad based consumption tax, such as a value added tax, is generally considered to be a regressive tax. This conclusion, however, has not taken into account the fact that in developing countries the commodities on which poor households spend most of their income, even if they are included in...

In this paper we develop an analytical general equilibrium framework to measure the foreign exchange premium and the premium for non-tradable outlays for a country. The framework allows us to capture in a consistent manner the impacts of the sourcing of funds and their expenditure on tradable...

This article describes the indirect tax revenue simulation model developed for the Treasury Department of Puerto Rico. At the beginning, it delineates the model’s objectives and capabilities and details the array of tax policy measures and major modifications to the present tax system. It then...

The Buenos Aires – Colonia Bridge Project is designed to provide a permanent and non-managed river crossing under all weather conditions between Punta Lara, located approximately 40 km away from Buenos Aires, the Argentine capital, and Colonia, a city in Uruguay. It is planned to involve a...

A broad based consumption tax, such as a value added tax, is generally considered to be a regressive tax. This conclusion, however, has not taken into account the fact that in developing countries the commodities on which poor households spend most of their income, even if they are included in...

In this paper, an integrated cash flow model is developed to examine the relative impact of tax incentives, financial subsidies, and macroeconomic variables on the profitability of industrial investments. It allows for various variables to interact with each other. An application of the model is...