排序方式: 共有18条查询结果,搜索用时 15 毫秒
1.
2.
The public finance literature demonstrates the equivalence between consumption and labor-income (wage) taxes. We introduce an experimental paradigm in which individuals make real labor-leisure choices and spend their earned income on real goods. We use this paradigm to test whether a labor-income tax and an equivalent consumption tax lead to identical labor-leisure allocations. Despite controlling for subjects' work ability and inherent labor-leisure preferences and disallowing saving, subjects reduce their labor supply significantly more in response to an income tax than to an equivalent consumption tax. We discuss the economic implications of a policy shift to a consumption tax. 相似文献
3.
We re-examine a key result in the optimal UI literature that benefits should decline over time. We show that when the population
is heterogeneous, Pareto-efficiency may call for multiple payment schedules, some with benefits that fall over time and some
with benefits that rise over time. 相似文献
4.
Contagious Speculation and a Cure for Cancer: A Nonevent that Made Stock Prices Soar 总被引:5,自引:0,他引:5
A Sunday New York Times article on a potential development of new cancer-curing drugs caused EntreMed's stock price to rise from 12.063 at the Friday close, to open at 85 and close near 52 on Monday. It closed above 30 in the three following weeks. The enthusiasm spilled over to other biotechnology stocks. The potential breakthrough in cancer research already had been reported, however, in the journal Nature , and in various popular newspapers (including the Times ) more than five months earlier. Thus, enthusiastic public attention induced a permanent rise in share prices, even though no genuinely new information had been presented. 相似文献
5.
With the economy showing signs of recovery, companies are shifting their focus from liquidity and balance sheet concerns back towards capital allocation and value creation. This article provides a comprehensive framework to examine shareholder value creation through capital allocation, and discusses important capital allocation lessons that have re‐emerged over the last few years. Notable among the key lessons are the following:
- ? Growth alone does not guarantee value creation, which suggests that companies should allocate capital based on the economic value of each investment opportunity.
- ? The limits of diversification in a financial crisis should be considered when allocating capital and managing liquidity.
- ? Companies should be conservative with base‐case cash flow projections and incorporate the possibility of downside scenarios into their projections.
- ? It is important to incorporate all forms of capital when managing liquidity.
- ? Whether using a long‐term or current‐market approach, companies should be consistent throughout the cycle in their cost of capital methodology.
- ? Companies should continually rethink investments and allocate capital in an attempt to maintain a competitive advantage.
- ? Evaluate returns relative to risk and cost of capital, and not against the company's average ROIC.
- ? Comparing the IRR of share repurchases to new investments is not an apples‐to‐apples comparison.
6.
Tomer Kahan Yossi Bukchin Roland Menassa Irad Ben-Gal 《International Journal of Production Economics》2009,120(2):315
Automotive assembly lines are often characterized by robots’ failures that may result in stoppages of the lines and manual backup of tasks. The phenomena tend to impair throughput rate and products’ quality. This paper presents a backup strategy in which working robots perform tasks of failed robots. The proposed Mixed-Integer Linear-Programming based approach minimizes the throughput loss by utilizing the robots’ redundancy in the system. Two algorithms are developed to comply with stochastic conditions of a real-world environment. The performance of these algorithms is compared with several heuristics, and the downstream-backup based algorithm is found superior to all other methods. 相似文献
7.
John F. Tomer 《Post - Communist Economies》2013,25(4):421-444
Transition has generally been conceived of as a substitution of the organisational structures and the legal, financial and political relationships of capitalism for those of socialism, a replacement of 'hard' features. This conception leaves out 'soft' factors such as attitudes, behavioural orientations, values and beliefs which, for successful socio-economic performance, must mesh with the hard elements. When all the hard features are changed quickly without attention to the soft features, as in the neo-liberal radical reform strategy, the result is inevitably a deep shock greatly retarding the transition process. To avoid this, sufficient attention should be paid to intangible capital formation that creates new soft features. The socio-economic theory developed here (1) explains the differing degrees of transition success in Eastern Europe and (2) suggests alternatives to neo-liberal transition strategy. 相似文献
8.
Introducing an aggregate resource constraint into Mussa and Rosen's [Mussa, M., Rosen, S., 1978. Monopoly and product quality. Journal of Economic Theory 18 (2), 301–317] model of monopoly price discrimination induces an upwards distortion in product quality for high valuation consumers because the standard downward distortions in product quality for other consumers relax the resource constraint. 相似文献
9.
Tomer Blumkin 《European Economic Review》2005,49(7):1915-1925
We introduce the notion of social mobility into an optimal income tax model. This is done by allowing earning abilities to be partly innate and partly acquired through investments in human capital (education). The implications for the optimal re-distributive policy are studied. 相似文献
10.