The concept of providing all households with some level of guaranteed income have become a part of the Democratic political initiative. Although the presumptive nominee for the Democratic Party does not seem to support the Universal Basic Income (UBI), it seems that his alliance with Senators...

The UN System of National Accounts (SNA) calculates standard national income (NI) under the condition that owned capital is maintained. Roefie Hueting defined in 1969 environmental functions (state, stock) as the possible uses by humans of the environment. Their actual use (flow) nowadays are...

This note reviews May 2019 OECD framework agreement report, “OECD/G20 Inclusive Framework on BEPS: Progress Report July 2018-May 2019” on international taxation of the ‘digital economy'. The core conclusions of the review are:1. The framework agreement proposals to-date represent complex,...

There is a new and now large literature analyzing government policies for financial stability based on models with endogenous borrowing constraints. These normative analyses build upon the concept of constrained efficient allocation, where the social planner is constrained by the same borrowing...

For any emission trading system (ETS) with quantity-based endogenous supply of allowances, there exists a negative demand shock, e.g. induced by abatement policy, that increases aggregate supply and thus cumulative emissions. We prove this green paradox for a general model and then apply it to...

This short paper reviews the distribution of Maryland thoroughbred racing purses for 2007. It shows the majority of purses go to out of state owners. The upcoming Maryland referendum on slot machines allocates up to $100 million per year to higher purses. The rationale is based upon the often...

Long the nation's largest public utility, the Post Office Department lacked a regular means of ascertaining the costs of providing different mail services until 1926. The paucity of cost data, however, did not deter Congress from setting postage rates down to a fraction of a cent or from...

The specific system of governance is a critical factor, which to a great extent (pre) determines the type and speed of development in different countries, industries, regions, communities, etc. This article tries to fill the gap and assesses the impact of institutional environment on agrarian...

Empirical studies on efficiency of the governance system in agriculture are very rare. That is a consequence of both theoretical and practical challenges. The criteria and approach for assessing social efficiency are still debated while appropriate statistical, accountancy, etc. data for...

The specific system of governance in different countries, regions, subsectors, etc., eventually determines the speed and type of socio-economic development. Despite its big academic and practical importance, in Bulgaria and other countries in East Europe, there are very few empirical studies on...