Some Comments on Tax Competition and Its Potential Effects on Tax Rates and Revenues

Corporate taxation is seen as the price of investing in a country, that is, the price either for the right to do business within the jurisdiction or for the supply of public goods. If consumption of that right or those public goods is mobile between jurisdictions and price competition ensues which will force prices together. Also, in the case of high tax regimes, a fall in the tax burden would be anticipated. In other words, countries will spontaneously harmonize their tax systems or face the loss of intemational investment and the disadvantages they bring.     

少数民族地区旅游收入农户间分配实证研究——以湘西州苗寨景区德夯村为例

本研究以湘西州德夯苗寨景区德夯村社区为例,抽样132户,运用洛伦兹曲线分析了居民旅游收入的基尼系数,在此基础上运用非参数检验分析了影响居民旅游收入的主要因素。研究结果表明:德夯村2006和2007年旅游收入基尼系数均在0.5以上。影响着居民旅游收入增收的主要因素是文化教育程度、家庭人均纯收入水平、以及景区路径与农户家庭所在地的距离等。由于居民家庭间旅游收入差距悬殊,要实现旅游产业的结构升级,就必须采取措施缩小家庭间旅游收入差距,平衡社会心理。:     

试用收益最大法分析企业最优负债比例

确定企业最优负债比例是企业在进行融资时一项十分重要的决策,文章在分析债务融资成本与收益的基础上,通过使边际收益为零分析出债务融资收益最大化时的负债比例。与通常的资本结构理论分析相比,这种分析更加直观,也具有更强的实用价值。     

The economic viability of long-haul low cost operations: Evidence from the transatlantic market

The recent strong performance of long-haul low-cost carriers AirAsia X and JetStar have re-raised the question of the long-term feasibility of long-haul low-cost operations. For the first time, this study contains a detailed financial assessment of low-cost operations on the transatlantic market using best-in class aircraft technology, the Boeing 787. The study's main findings demonstrate how challenging the successful running of a European long-haul low-cost carrier can be. In particular, on-going operating profit appears to be very sensitive to variations in demand and fuel prices, despite the use of new, highly efficient B787s. The findings show any prospective long-haul low-cost carrier that pursuing a demand focussed network strategy can ensure financial viability. This involves the creation of higher seating densities, higher cargo revenues and additional ancillary revenues.     

旅游业与经济发展关系研究——基于GDP和旅游业收入相关分析

随着中国旅游业的迅速发展,旅游业与经济发展的关系日益引起研究者的重视。对2012年全国各省GDP和旅游业收入、2003至2012年全国GDP和旅游业收入两组数据进行比较,运用Eviews软件,从纵、横两个方向进行量化分析,结果表明,不管是从横向还是纵向的角度看,两者之间都存在高度的正相关关系。     

Choosing the right instrument

This paper analyses the optimal choice of second-best optimal environmental policies. Using a partial equilibrium model, the paper first reconfirms the well-known result that the existence of a double dividend (in its weak definition) favours environmental policy instruments which maximise tax revenues for a given improvement in environmental quality. Additional revenues can be used to reduce the distortion of existing taxes such as taxes on labour and capital income. Without uncertainty, environmental taxes and auctioned permits are equally appropriate. In the presence of uncertainty, however, the optimal choice of taxes or tradable permits depends on the relative magnitudes of the marginal environmental damage and the marginal benefit from consuming a polluting good. In the second part, the paper, therefore, analyses how the revenue capacity affects the optimal choice of environmental policy instruments in the presence of uncertainty. The paper shows that the first-best choice rule between price and quantity regulation (Weitzman, 1974) remains valid in a second-best world with distortionary taxation.     

Neutral Property Taxation Under Uncertainty

In a framework where no uncertainty arises, Arnott (J Publ Econ Theor 7:27–50, 2005) investigates a neutral property taxation policy that will not affect a landowner’s choices of capital intensity and timing of development. We investigate the same issue, but allow rents on structures to be stochastic over time. We assume that a regulator implements taxation on capital, vacant land, and post-development property so as to expropriate a certain ratio of pre-tax site value as well as to achieve neutrality. We find that the optimal taxation policy is to tax capital and subsidize properties before and after development. We also investigate how this optimal policy changes in response to changes in several exogenous forces related to demand and supply conditions of the real estate market.

Natural resource endowments and the domestic revenue effort

We examine whether there is evidence of an offset between government revenues from hydrocarbon (oil and gas) related activities and revenues from other domestic sources in a panel of 30 hydrocarbon producing countries. Our main finding is that there is an offset of about 20%, which is robust to the inclusion of control variables, the exclusion of outliers, and alternate estimation methodologies. While the impact of the offset on long-term development prospects is not clear, there is a risk of significant adjustment costs in moving to a higher level of domestic taxation once natural resources are depleted.     

Determinants of commercial revenues at airports: Lessons learned from Spanish regional airports

This paper examines the implications of passenger consumer behavior at airports, focusing specifically on the likelihood of merchandise being purchased at airport stores and food/beverages being consumed at airport catering facilities. Our results are of relevance to airport managers and local tourism policy managers. The variables that determine the amount spent once the passenger has made the decision to consume at the airport are also analyzed. A sample of over 20 000 passengers at seven different regional airports was used in our study.     

税收增长对经济增长的负面冲击

1994年税制改革以来,我国各地区税收收入连年高速增长,导致全国税收收入占GDP的比重迅速上升。研究发现这种税收收入的快速增长给经济增长带来严重不利影响。它降低了经济增长率和税后单位资本的产出水平,并且中西部地区税收增长对经济增长的负面冲击高于东部地区。这种情况对于我国保持经济长期稳定增长,有效实施西部大开发战略可能不利,政府应适时调整税收政策。