This paper builds a model of general equilibrium for production economies to analyze Chinese enterprise tax reform which regulated the unified enterprise tax rate to be at 25%. The reform was backed by the new Law on Corporate Income Tax executed from January 1, 2008. Using national statistics...

The "Elimination by aspects" (EBA) duopoly of product differentiation (Laurent, 2006a) was constructed from the discrete model of probabilistic choice worked out by Tversky (1972a,b). In this framework, an unique price equilibrium exists with a "differentiation by attributes", which embodies...

Purpose – The purpose of this paper is to examine the possibility of using non-income indicators and the self-organizing map (SOM) approach as an alternative analytical tool to map countries' welfare status. Design/methodology/approach – Using data from 27 countries of the East Asia-Pacific...

Drug price regulation is acquiring increasing significance in the investment choices of the pharmaceutical sector. The overall objective is to determine an optimal trade-off between the incentives for innovation, consumer protection, and value for money. However, price regulation is itself a...

For thirty years, prominent voices have advocated a policy of starving the beast – cutting taxes to force government spending cuts. This paper analyzes the macroeconomic and welfare consequences of this policy using a two-country general equilibrium model. Under several strong assumptions, the...

This paper studies the potential gains of monetary and macro-prudential policies that lean against house-price and credit cycles. We rely on a model that features Borrowers and Savers and allows for over-borrowing induced by news-shock-driven cycles. We find that policy that responds to changes...

Purpose – The purpose of this paper is to examine the possibility of using non-income indicators and the self-organizing map (SOM) approach as an alternative analytical tool to map countries' welfare status. Design/methodology/approach – Using data from 27 countries of the East Asia-Pacific...

This paper examines the welfare-maximizing degree of patent protection in a growth model where the engines of economic growth are R&D and public services. The result shows that if public services are small, the welfare-maximizing level of patent protection is weaker.

Companies that offer services with capacity constraints in which there are negative consumption externalities (such as restaurants that serve smokers and non-smokers, airlines that fyy passengers travelling with infants and without infants or organizers of sport events that serve aggressive and...

Following the surge in world food prices of 2007–2008, there has been a revival of short-run household welfare analysis that seeks to understand whether food price increases are beneficial or detrimental for households. For a number of reasons, including lack of data in some instances, the...