The Laffer curve revisited

Laffer curves for the US, the EU-14 and individual European countries are compared, using a neoclassical growth model featuring “constant Frisch elasticity” (CFE) preferences. New tax rate data is provided. The US can maximally increase tax revenues by 30% with labor taxes and 6% with capital taxes. We obtain 8% and 1% for the EU-14. There, 54% of a labor tax cut and 79% of a capital tax cut are self-financing. The consumption tax Laffer curve does not peak. Endogenous growth and human capital accumulation affect the results quantitatively. Household heterogeneity may not be important, while transition matters greatly.     

构建合理的地理标志保护国际法律框架的方案——对TRIPS协议第23条保护的扩展

将《与贸易有关的知识产权协议》(简称TRIPS协议)第二十三条规定的地理标志保护延伸到除葡萄酒和烈性酒以外的产品(以下简称:地理标志延伸)是世界贸易组织所讨论的主要的知识产权问题之一。它是当前在国际层面上寻求适当的解决方案以确保对所有产品地理标志进行有效保护的最有效的方法,同时,也为在国家层面上的操作提供了足够的灵活性。     

Reviews

Book Reviews in This Article: W. E. Wightman . The Lacy Family in England and Normandy, 1066-1194. H. S. Bennett . Life on the English Manor: A Study of Peasant Conditions, 1150-1400. Margaret Wood . The English Mediaeval House. D. Portman . Exeter Houses, 1400-1700. Patrick Collinson . The Elizabethan Puritan Movement. Calendar of the Patent Rolls. Preserved in the Public Record Office. Elizabeth I. Margaret Cash (Ed.). Devon Inventories of the Sixteenth and Seventeenth Centuries. P. E. Jones (Ed.). The Fire Court: Calendar to the Judgments and Decrees of the Court of Judicature appointed to determine differences between landlords and tenants as to rebuilding after the Great Fire. G. E. Fussell . The English Dairy Farmer, 1500-1900. A. Andréadès . History of the Bank of England, 1640-1903. P. G. M. Dickson . The Financial Revolution in England. A Study in the Development of Public Credit, 1688-1756. Robert Munter . The History of the Irish Newspaper, 1685-1760. W. A. Mc Cutcheon . The Canals of the North of Ireland. J. D. Williams . Audley End. The Restoration of 1762-1797. W. E. Minchinton (Ed.). Politics and the Port of Bristol in the Eighteenth Century. Stanley D. Chapman . The Early Factory Masters. The Transition to the Factory System in the Midlands Textile Industry. Phyllis Deane . The First Industrial Revolution. J. Child . Industrial Relations in the British Printing Industry. The Quest for Security. Werner von Siemens . Inventor and Entrepreneur: Recollections of Werner von Siemens. Kurt Grunwald . Türkenhirsch: A Study of Baron Maurice de Hirsch, Entrepreneur and Philanthropist. J. D. Bailey . A Hundred Tears of Pastoral Banking. A History of the Australian Mercantile Land and Finance Company, 1863-1963. F. B. Smith . The Making of the Second Reform Bill. W. R. Powell (Ed.). A History of the County of Essex. Peter Mathias . Retailing Revolution. A History of Multiple Retailing in the Food Trades based upon the Allied Suppliers Group of Companies. Marc Bloch . French Rural History: an Essay on its Basic Characteristics. J. P. Nettl . Rosa Luxemburg. Erich Gruner and Karl Frei . Die schweizerische Bundesversammlung, 1848-1920 L'Assemblée fédérale suisse, 1848-1920. Richard Colebrook Harris . The Seigneurial System in Early Canada. Geographical Study. Ashin Das Gupta . Malabar in Asian Trade, 1740-1800. David Birmingham . Trade and Conflict in Angola.     

Financial Globalization,International Business Cycles and Consumption Risk Sharing*

In spite of two decades of financial globalization, consumption‐based indicators do not seem to signal more international risk sharing. We argue that the fraction of idiosyncratic consumption risk that gets shared among industrialized countries has actually increased considerably over the period 1980–2000 and, in particular, during the 1990s—from around 30 to more than 60 percent. However, standard consumption‐based measures of risk sharing—such as the volatility of consumption conditional on output or international consumption correlations—have been unable to detect this increase because consumption has also been affected by the concurrent decline in the volatility of output growth in most industrialized countries since the 1980s. First, the volatility of output at business‐cycle frequencies has declined by more than has the volatility of permanent fluctuations. Since consumption reacts mainly to permanent shocks, it appears more volatile in relation to current changes in output. This effect seems to have offset the tendency of financial globalization to lower the volatility of consumption conditional on output. Second, because the variability of permanent global shocks has also fallen, international consumption correlations have also generally not increased as financial markets have become more integrated.     

Öffentliche Sportförderung: eine ordnungspolitische Betrachtung

An unmittelbaren Transferleistungen flie?en j?hrlich rund 3,9 Mrd. Euro in die staatliche Sportf?rderung. Wie ist die ?ffentliche Sportf?rderung ordnungspolitisch zu bewerten? Welche Wirkungen hat sie auf die Sportanbieter und den Wettbewerb?     

The Economics of Career Concerns, Part I: Comparing Information Structures

Many incentives in organizations arise not through explicit formal incentive contracts but rather implicitly through career concerns. This paper models career concerns through agents trying to manipulate the market assessment of their future productivity. The information flow from current actions to market assessment is therefore crucial in determining the nature of these incentives. Improved information may either increase or reduce incentives. The impact of information provides a major distinction between the explicit and implicit incentives model. The paper derives general results on comparisons of information structures which serve as counterparts to the standard results on information structures in the principal–agent model: sufficient statistic, impact of a Blackwell garbling, comparison of inclusive information structures.     

Impacts of handset bundling on mobile data usage: The case of Finland

Promotion of the adoption of new services has emerged as a possible driver for the regulation of handset bundling and subsidies. Handset bundling, however, has complex implications not only on mobile data service adoption, the focus of this research, but also more broadly on the mobile market dynamics. Due to the complexity, regulators have difficulties in anticipating the possible resulting impacts. Using a case study, expert interviews, and usage measurements as research method, an empirical framework was constructed to make the service usage impacts more explicit. The framework enables the identification of the regulator's steering options and their qualitative impacts. Results are based on observations before and after the change of law on handset bundling in the Finnish market. According to the findings, handset bundling regulation is a possible but risky tool for steering the market.