CAPITAL GAINS TAXATION, GROWTH, AND FAIRNESS

The question at the heart of the capital gains tax debate is whether taxing some people at a different rate than others having the same income is appropriate. Those who justify such a preference base their arguments on the concepts of economic efficiency and fairness. However, recent experience with capital gains tax decreases and increases strongly suggests that a change in the current law would yield little or no benefit. The burden of proof should rest on those who would violate the basic principle of equal tax rates on incomes from whatever source.     

Applying three-stage DEA on the operational performance of foreign banks in Taiwan

This study applies 3-stage data envelopment analysis (DEA) model on a sample of 29 foreign commercial banks in Taiwan in order to measure their overall operational efficiencies. Exploring adjustments on environmental and statistical noise effects incorporated in the pure performance evaluation for input slacks to achieve true managerial efficiency. Through our research, using a three-stage DEA approach, efficiency scores can function as a more specific and precise set of criteria for true managerial efficiency. Our empirical results demonstrated that the operational efficiency values after being adjusted for external environmental factors and statistical noise tend to be higher than the non-adjusted values. Our findings can help the banking management avoid resource misallocations, enhance banking efficiency and improve banking competitiveness.     

基于委托-代理机制的电力企业污染治理研究

本文将Holmstrom-Milgrom模型运用到电力企业环境治理分析中,并在模型中植入了代表电力企业改善环境的边际效率的新变量,然后比较了具有不同治污效率的企业的最优确定性等价收入、治污努力水平、总代理成本。在理论模型的基础上进行模拟,得出以下结论:信息不完全降低了电力企业的治污努力水平;电力企业的治污效率越高,其代理成本对监督风险水平的变动越敏感。基于上述结论,给出了相应的政策建议。     

Analysis of environmental efficiency variations: A nutrient balance approach

Recent literature has argued that environmental efficiency (EE), which is built on the materials balance (MB) principle, is more suitable than other EE measures in situations where the law of mass conversation regulates production processes. In addition, the MB-based EE method is particularly useful in analysing possible trade-offs between cost and environmental performance. Identifying determinants of MB-based EE can provide useful information to decision makers but there are very few empirical investigations into this issue. This article proposes the use of data envelopment analysis and stochastic frontier analysis techniques to analyse variation in MB-based EE. Specifically, the article develops a stochastic nutrient frontier and nutrient inefficiency model to analyse determinants of MB-based EE. The empirical study applies both techniques to investigate MB-based EE of 96 rice farms in South Korea. The size of land, fertiliser consumption intensity, cost allocative efficiency, and the share of owned land out of total land are found to be correlated with MB-based EE. The results confirm the presence of a trade-off between MB-based EE and cost allocative efficiency and this finding, favouring policy interventions to help farms simultaneously achieve cost efficiency and MP-based EE.     

环境管制与工业生产率增长：东部地区的实证研究

本文运用曼奎斯特—卢恩伯格生产率指数,测度了2000-2007年东部工业在考虑SO2和不考虑SO2排放情况下的效率、生产率增长及其成份的增长率,并且估计出了环境管制给企业带来的成本。结果发现：上海和广东处于生产前沿;考虑SO2排放后,生产率增长率下降;天津的生产率增长、技术效率增长率和技术进步率都最高,北京环境污染管制的成本最高;FD I投入、国有企业比重、资本劳动比、废气治理投资和环境管制成本对生产率增长都有显著影响。     

基于环境成本的比较优势理论及政策启示

在李嘉图模型中,将环境成本用追加的劳动投入来衡量,发现环保技术及环境成本对比较优势格局的修正.在H-O模型中,假定环境作为一种生产要素,则所形成的比较优势建立在包含环境资源真实价格的基础之上.社会环境成本与企业环境成本的差额,使"显示的比较优势"有可能偏离真实的比较优势,从而损害效率与公平.因此,要鼓励清洁技术创新,并通过制度变革来推进环境成本内部化.     

The effects of domestic rice market interventions outside business-as-usual conditions for imported rice prices

The Philippine government intervenes in the domestic rice market through the imposition of import tariffs and the provision of producer and consumer subsidies. While policymakers are aware that these programmes come with allocative efficiency costs, they justify the programmes on the grounds that they insulate the domestic economy from unexpected price spikes in the international rice market. An interesting matter for policy evaluation is to quantify the insulation benefit that the programmes provide in circumstances of sudden severe import price spikes. To examine this question, we undertake a dynamic computable general equilibrium (CGE) simulation in which the Philippines is subject to an external rice price shock. We find that the insulation benefit of the support programmes under a 2008-like event is worth approximately 0.10% of real consumption. However, the cost of insuring against these price spikes is significant. We estimate the annual cost of the rice market interventions at approximately 0.40% of real consumption.     

基于三阶段Malmquist-PNN的区域绿色创新效率评价与智能诊断研究

采用三阶段Malmquist指数构建了排除外部环境与随机干扰因素的八大综合经济区绿色创新效率测度模型，并结合概率神经网络对绿色创新效率进行了智能诊断。研究发现：①绿色创新效率总体呈“下降-上升-下降-上升”波动趋势，其中，西南地区属于共同推动型，其余地区为技术进步型。绿色创新效率主要由技术进步决定，技术效率起抑制作用，而技术效率低下是由规模效率下降所致；②在剔除外部环境与随机因素干扰后，各区域Malmquist指数均有所下降，在第一阶段中绿色创新效率被高估，究其原因是技术效率被高估。其中，西北和黄河中游地区排名与第一阶段结果差别较大，其余地区排名保持不变；③加快发展技术市场和优化产业结构有助于绿色创新效率提升，而经济发展水平、经济开放程度和环境规制对绿色创新效率的影响不显著；④根据智能诊断结果，可将区域分为全部效率有效地区、纯技术无效地区和规模无效地区三类。     

基于三阶段Malmquist-PNN的区域绿色创新效率评价与智能诊断研究

采用三阶段Malmquist指数构建了排除外部环境与随机干扰因素的八大综合经济区绿色创新效率测度模型,并结合概率神经网络对绿色创新效率进行了智能诊断。研究发现:(1)绿色创新效率总体呈"下降-上升-下降-上升"波动趋势,其中,西南地区属于共同推动型,其余地区为技术进步型。绿色创新效率主要由技术进步决定,技术效率起抑制作用,而技术效率低下是由规模效率下降所致;(2)在剔除外部环境与随机因素干扰后,各区域Malmquist指数均有所下降,在第一阶段中绿色创新效率被高估,究其原因是技术效率被高估。其中,西北和黄河中游地区排名与第一阶段结果差别较大,其余地区排名保持不变;(3)加快发展技术市场和优化产业结构有助于绿色创新效率提升,而经济发展水平、经济开放程度和环境规制对绿色创新效率的影响不显著;(4)根据智能诊断结果,可将区域分为全部效率有效地区、纯技术无效地区和规模无效地区三类。     

中国金融发展与技术效率改善——基于工业制成品行业面板数据的经验研究

技术效率改善对于中国经济效率进一步的提高具有决定性作用。基于2001～2007中国国有及规模以上非国有工业制成品行业面板数据,本文在Malmquist指数法下测算了技术效率改善指数。利用该指数,本文进一步检验了金融发展与技术效率改善的联系。经验结果表明,金融发展促进了技术效率改善,而在外源融资依赖度高的行业,这种促进效应更加明显。     

美国的环境管制影响分析

根据外部性理论,只有当实施环境管制政策的社会收益大于社会成本时,才意味着政府管制相对于市场缺失是更有效率的。因此,成本—收益分析可以作为评估管制政策效率的标准之一。20世纪70年代以来,美国最早在环境领域引入系统的成本—收益分析(管制影响分析),取得了较好的效果。借鉴并及早引进管制影响分析对于提高我国环境管制政策的制定和执行效果有重要意义。     

Consumption Externalities in a Commercial Fishery: the Queensland Beam Trawl Fishery

Demand and contingent valuation models are used to analyze survey data obtained from a sample of recreational boat and shore fishers in southern Queensland. The value of the recreational fishery to the average fisher in the sample and the value of marginal increases in catches of target species are estimated. These estimates are used to calculate the value of Pigovian taxes representing the marginal cost of catch and congestion externalities imposed by the beam trawl fishery on the recreational fishery. The results suggest that the cost of these externalities does not justify the closure of the beam trawl fishery.     

研发创新SBM效率的国际比较研究——基于OECD国家和中国的实证分析

文章将SBM模型与三阶段DEA模型相结合,考虑外部环境因素和随机冲击对效率测量的影响,实证评估了2001-2008年30个OECD国家和中国的创新效率。研究结果显示,各国环境外生变量和随机冲击,包括人均GDP、产业结构、对外开放度和政府干预对创新SBM效率有显著影响。剔除环境因素和随机因素之后,各国平均创新SBM效率由0.563上升到0.646,提高了约14.74%,但在样本期内没有明显的逐年升高或者逐年下降的趋势。从区域来看,调整后日、韩创新SBM效率最高,北美洲次之,欧洲最低。从年度波动情况来看,各国创新SBM效率的差距有不断缩小的趋势。     

Up against ERISA

In the absence of national health care reform, many states are eager to press forward with their own reforms. But there's a stumbling block: the 1974 Employee Retirement Income Security Act, which bars states from taxing and regulating many health plans. And the business lobby promises to fight efforts to weaken the law.     

The Marginal Cost of Australian Income Taxation*

When the financing of expenditure programmes involves a welfare cost, that cost should be considered part of the opportunity cost of the expenditure programme. In this paper, we explore some concepts of the welfare loss of taxing labour income. We correct some measures previously applied and estimate the marginal cost of Australian public funds. Using our measure of the cost of public funds, we explore the costs of policy options in the motor vehicle industry.     

Optimal taxation in a monetary economy with financial intrmediaries

The problem of optimal taxation when the government must levy distorting taxes to meet its revenue needs is considered for a monetary economy with financial intermediaries. In contrast to most other studies of optimal taxation in a monetary economy, money is treated as an intermediate good which is held because doing so economizes on the scarce resources that must be devoted to the exchange process. Attention is focused on the roles of the inflation tax, reserve requirements, and deposit taxes. The key result is that revenue considerations do not justify taxing cash and deposits. That is, the optimal tax structure calls for adopting the optimum quantity of money rule and setting deposit taxes to zero. When the optimal tax structure is in place, reserve requirements turn out to be irrelevant from both the fiscal and welfare perspectives.     

Is emission intensity or output U‐shaped in the strictness of environmental policy?

We show that, in a range of market conditions, an ever stricter environmental policy does not always lead to ever cleaner production methods and ever lower production of polluting goods. We consider an integrated technology, where firms can reduce their emission intensities in a continuous fashion. Analogous to the previous literature we find that firms' emission intensities can be U‐shaped in the strictness of policy, but we show that this applies only under low profitability conditions. Under high profitability conditions, output levels are U‐shaped in the strictness of the policy. The latter result is new in the literature. In the case where the U‐shape arises in emission intensities, the minimum is reached where the marginal abatement cost curves intersect.     

区域工业发展环境成本核算研究

本文在分析区域工业发展对环境影响的基础上，提出了区域工业发展环境成本核算体系，包括环境成本的构成、核算的原则和核算方法。将区域工业发展环境成本分为资源消耗成本和环境污染损失以及域内环境成本和域外环境成本，最后以西安市为例进行研究。所建立的环境成本核算体系能够全面反映工业发展所付出的环境代价及其空间响应。     

企业集群边界均衡影响因素分析——基于空间区位架构

文章以企业集群为研究对象,从空间区位的角度研究集群边界均衡问题。通过salop圆形选址模型的集群区位架构,应用C-D形效用函数的扩展微观方程组,经过推演得到的渐进解析解显示,区位市场容量和谈判成本对集群边界有最直接的制约作用。如果谈判成本不存在,集群边界可以无限大;如果谈判成本存在,在市场价格稳定不变、投入成本系数固定的情况下,谈判成本系数与集群边界负相关,区位市场容量与集群边界正相关。在分别满足这两种情况的数值条件下,集群边界达到均衡。而区位企业密度结构对集群边界扩张速度具有调节作用,帮助集群以最优效率发展。从均衡结论入手,文章指出如果一种类型的产品是盈利的,那么应该重点关注于找出最合理的集群空间密度结构,调控边界增速,同时尽可能降低谈判成本,作为治理集群边界的核心渠道。文章对认识集群边界扩张的演化发展有一定的理论创新性,从空间区位架构的视角来研究集群扩张边界问题,扩展了现有的文献研究。