Research in accounting for income taxes

This paper comprehensively reviews the Accounting for Income Taxes (AFIT) literature. We begin by identifying four distinctive aspects of AFIT and briefly covering the rules surrounding AFIT. We then review the existing studies in detail and offer suggestions for future research. We emphasize the research questions that have been addressed (most of which relate to whether the tax accounts are used to manage earnings and whether the tax accounts are priced by equity market participants). We also highlight areas that have not received much research attention and that warrant future analysis.     

Eine strenge und mittelfristig stabilisierende Haushaltsregel

In Deutschland besteht breiter Konsens, dass im Rahmen der F?deralismusreform II h?rtere nationale Haushaltsregeln beschlossen werden sollten, die zu einer engen Begrenzung staatlicher Defizite führen. Wie kann jedoch im Rahmen strenger Regeln gew?hrleistet werden, dass der Einfluss der automatischen Stabilisatoren erhalten bleibt? Wie kann eine erratische Finanzpolitik infolge von überraschungen bei der Finanzentwicklung vermieden werden? Dr. Jana Kremer, 35, und Dr. Dan Stegarescu, 35, sind Mitarbeiter im Zentralbereich Volkswirtschaft der Deutschen Bundesbank in Frankfurt am Main. Die in diesem Beitrag ge?u?erte Meinung spiegelt die pers?nliche Auffassung der Autoren und nicht notwendigerweise die der Deutschen Bundesbank wider. Die Autoren danken Michael Richter für umfangreiche Vorarbeiten.     

The Economics of Administering Import Quotas with Licenses-on-Demand in Agriculture

A Nash equilibrium is determined for licenses-on-demand import quotas where licenses are allocated on a prorated basis. Inefficiency is incurred because licenses are allocated to high-cost firms. The ability to overbid exacerbates the inefficiency due to proportionate reductions in licenses. Quota expansion causes high-cost firms to decrease their bids but reduces inefficiency. The entry of a new firm causes all incumbent firms to increase bids or bid the quota. Not penalizing firms for the non-use of licenses increases inefficiency. The inefficiency impacts of tariff reductions, license fees, limits per firm, and imperfect information are also addressed.     

Age matters: How developmental stages of adulthood affect customer reaction to complaint handling efforts

This research examines how age moderates the impact of justice perception (i.e., distributive, procedural, and interactional justice) on post-complaint satisfaction. By tracking the three justice dimensions' effect sizes across different ages, we identify four developmental stages of adulthood, which are separated by five-year transition periods. The stages are young (18–27 years of age), early (33–43), middle (49–57), and late adulthood (≥63). The moderation results show that the impact of distributive justice on satisfaction peaks in middle adulthood and the effect of procedural justice in early adulthood. Finally, the effect of interactional justice dips in early adulthood. Managerial and theoretical implications are discussed.     

Neglected and overemphasized risks: the opinions of risk professionals

Research on risks has mainly been devoted to detailed analyses of such risks that are subject to public debate and policy decision making. However, many if not most of the risks that are now the subject of regulation were once neglected. Experts in conjunction with regulators have a crucial role in putting risks on the policy agenda. But what views do experts have on the matter of attention to risks? In order to answer this question risk assessment experts were asked to list the risks they considered to be over‐emphasized, respectively neglected. Radiation risks constituted the largest category of risks reported to be over‐emphasized. Other risks often reported to be over‐emphasized included BSE, GMOs, amalgam, and air traffic. Lifestyle risks were the largest category of risks reported to be neglected. Other risks often listed as neglected included radon (as an exception within the radiation category), road traffic, socio‐economic risks, energy production excluding nuclear power, and local accidents (including fires and workplace accidents). Risks mentioned about equally often as neglected and over‐emphasized included chemicals and crime. There was a correlation between perceived risk and neglect: risks considered to be neglected were also judged as larger. For a comparison, the topics of articles in the journal Risk Analysis from 1991–2000 were categorized into the same risk categories that were used for the questionnaire. The risks most commonly treated in the journal (chemicals and cancer) coincided with the risks which experts in our survey considered to be overemphasized rather than neglected.     

On Income Velocity of Money,Precautionary Money Demand and Growth

A stochastic growth model with money introduced via a cash-in-advance constraint is used to analyze the behavior of the income velocity of real monetary balances and money demand. Agents can purchase consumption goods only using government issued money. The cash-in-advance constraint may become nonbinding because of the uncertainty about the realization of the state of the economy. We find that the precautionary money demand may introduce significant changes into the volatility of the income velocity if it happens almost always. Its presence can also alter the relationship between the average growth rate of money supply and the average growth rate of the economy.     

Neue Schuldenregeln: Sicherheitsabstand für eine stetige Finanzpolitik

Mit der jüngsten F?deralismusreform soll unter anderem die Verbindlichkeit der Verschuldungsgrenzen erh?ht werden. Hierdurch steigen die Anforderungen an die Haushalts- und Finanzplanung, da unerwartete Entwicklungen zukünftig verst?rkt im Rahmen der regul?ren Grenzen abgefedert werden müssen. Begrenzte Abweichungen im Vollzug k?nnen zwar über das Kontrollkonto aufgefangen werden. Wie kann aber vermieden werden, dass überraschende Entwicklungen erratische Politikanpassungen im Rahmen der Haushaltsplanungen erforderlich machen und so eine stetige Finanzpolitik erschwert und die Wirkung der automatischen Stabilisatoren eingeschr?nkt wird?     

Efficiency of hospitals in the Czech Republic: Conditional efficiency approach

Journal of Productivity Analysis - This paper estimates the cost efficiency of 81 general hospitals in the Czech Republic during 2006–2010. We employ the conditional order-m approach to...