The purpose of this study is to provide an outline of the policy issues that arise when instituting a system of private-funded pension plans. At this time, many countries-particularly those in Eastern Europe and Latin America-are rethinking their past social security policies and considering the...

This report studies the revenue requirement of the Government of Belize in short term as well as the tax reform measure needed to face the longer term revenue requirements of the public sector in an environment where tariffs to international trade are being reduced. The study update a similar...

Roads, electrical generation for facilities, hospitals, schools, housing, and recreational facilities are investments that are often made by mining enterprises in communities where they are operating. Often these enterprises argue that the services generated by this community infrastructure are...

Before discussing the specific proposal of the resource rent tax developed in the paper by Ross Garnaut and Anthony C. Ross the advantages and disadvantages inherent in the four broad takes applicable to the mining sector are considered. In this way, we will have a better understanding of the...

Today's college women express frustration over the reconciliation of careers as wives or paid workers. The issue is examined in the light of the historical experience of three cohorts of female college graduates in the U.S. The first, graduating 1900-1920, opted heavily for careers in a...

Corporate tax with interest deductibility may reduce risk taking because entrepreneurs might decrease the amount of investment in risky projects with higher corporate tax rates. Unlike Stiglitz' "Corporation Tax", we allow for decreasing returns to scale and equity financing of capital. We show...

The corporate finance literature suggests that a financially constrained firm invests less than an identical unconstrained firm. This does not imply that financial frictions cause firms to invest less than they would in a frictionless economy. When firms compete for investment funds, an increase...

The purpose of the current paper is to extend the theory of regional public goods to account for population congestion,or crowding, and then to introduce the possibility of congestion into boundary spillovers of benefits. This paper deals with congestion costs for regional public goods provided...

We establish a general preference for price uncertainty by the price taking, risk neutral, nonrenewable resource extracting firm with orthodox convex extraction costs. Option prices for delivery of a ton at a particular date in the future exceed the expected dollar return from the purchase of...

Considerable attention has been focused on the relationship between transportation costs and land values in urban areas, but little research has been conducted on the other factors that affect land values. The study in this paper should concentrate on any one of a number of different types of...