In this paper I provide a theoretical analysis of the effects of use-value property assessment on land development decisions and subsequent land use. First, use-valuation assessment is incorporated in an optimal timing model. Then the effects of that assessment method on the timing of...

Post-Soviet economies are plagued by a public sector practice whereby the Ministry of Finance cancels tax liabilities that enterprises owe it in exchange for debts the Ministry owes enterprises. Although the practice seems innocuous enough to its practitioners, it has multiple distorting...