A stochastic, multi-period simulation model is developed based on the prevalent capital structure theories, in searching for and identifying an optimal combination of related financing strategies. The model reflects both conceptual and empirical implications of the pecking order, trade-off and...

The paper analyzes the optimal income taxation policy when inequity aversion exists among taxpayers. The influence of inequity aversion on the optimal income tax scheme depends on whether taxpayers are concerned about inequality in wages or in rents (i.e., wages minus effort costs). If agents...

This paper reviews empirical evidence, especially from Europe, on how education and training policies can be designed to advance both efficiency and equity. Returns to educational investments tend to decrease over the life cycle. Moreover, they seem to be highest for children from disadvantaged...

Large scale forest plantations in the Murray-Darling Basin may be embraced as a carbon sequestration mechanism under a Carbon Pollution Reduction Scheme. However, increased tree plantation will be associated with reduced inflows to river systems because of increased transpiration, interception...

Toda acción pública y regulatoria en materia económica genera, intencionalmente o no, ciertos efectos en el corto plazo y otros en el largo plazo. Otra manera de entender la dinámica anterior, es visualizar a los instrumentos regulatorios como mecanismos de trade-off entre rentas y eficiencias.

This paper investigates the budgetary trade-off structure of security (defence+internal security) expenditures in Turkey for the period 1983-1998. A modified version of Todaro's distributive share index of social welfare is used to quantify the impacts on the growth of primary budget...

Using structural and nonstructural measures for flood damage reduction is a long-standing problem in water resources planning and management. In the present study, an algorithm is presented for the optimal design of structural and nonstructural flood mitigation measures based on simulation-based...

Keynes had many plausible things to say about unemployment and its causes. His "mercurial mind," though, relied on intuition, which means that he could not strictly prove his hypotheses. This explains why Keynes's ideas immediately invited bastardizations. One of them, the Phillips curve...

The objective of the paper is to offer a critique on the theoretical and empirical literature on inflation targeting (IT). It seems to exist a consensus in the theoretical literature that this monetary regime reduces both inflation and output volatility, mainly through building monetary policy...