Entry, Exit and Productivity: Empirical Results for German Manufacturing Industries Using panel data from Spain Farinas and Ruano (IJIO 2005) test three hypotheses from a model by Hopenhayn (Econometrica 1992): (H1) Firms that exit in year t were in t-1 less productive than firms that continue to produce in t. (H2) Firms that enter in year t are less productive than incumbent firms in year t. (...

Automatic Stabilizers, Economic Crisis and Income Distribution in Europe This paper investigates to what extent the tax and transfer systems in Europe protect households at different income levels against losses in current income caused by economic downturns like the present financial crisis. We use a multi country micro simulation model to analyse how shocks on market income and employment are...

Fuel and leasable minerals mined in the United States have historically been subject to federal royalties while locatable minerals have not. In recent years there have been multiple attempts to alter this policy and subject locatable minerals to federal royalties as well; most recently the preliminary 2011 Obama budget included a gross royalty on hard-rock mining on public lands. This paper ana...

This paper provides a critique of the global crusade recently launched by the World Bank and World Health Organization against tobacco, by providing some welfare estimates of the net costs associated from the rise in taxes that is proposed for India, S.Africa, S.Korea, Japan and the European Union. It critically examines conventional studies of the costs-benefits of smoking which besides ignori...

The purpose of this paper is to analyse whether the presence of Hot Air trading jeopardizes the environmental target of an international environmental agreement. We argue that Hot Air can be used as an implicit side-payment mechanism to actually bring about higher environmental protection compared to the situation without the trade option. We point to the existence of a fundamental trade-off be...

The syntheses of Co(eta3-C3H5)(CO)2PR2R' (R, R' = Ph, Me; R, R' = Me, Ph; R = R' = Ph, Cy, CH2Ph) and Co(eta3-C3H5)(CO)(L) (L = dmpe and dppe) are described, and X-ray structures for Co(eta3-C3H5)(CO)(dppe) and the PPh2Me, PCy3 derivatives reported. The relative ability of Co(eta3-C3H5)(CO)2(PR2R') to exchange phosphine for CO follows the trend PMe2Ph < PPh2Me < PCy3 < P(CH2Ph)3 < PPh3. Reactio...

Taxing internationally mobile factors of production has been dismissed as an inefficient means of raising tax revenue. This paper addresses the question of whether it is efficient to tax capital at source when labor markets and the taxation of lumpsum income suffer from imperfections. Four reasons for taxing capital are identified: (i) institutional constraints rendering any taxation of profit ...

In this paper we investigate experimentally the effects of a wage tax financed unemployment benefit system on the development of the budget deficit, unemployment, and some other indicators of economic performance in an international economy. We find support for the hypothesis that out-of-equilibrium price uncertainty affects the behavior of economic agents. Due to uncertainty about prices risk-...

The performance of tax receipts in Italy during the period 1978-2006 is analysed through the relationship between the growth of revenue and the evolution of the macroeconomic framework. Series of actual tax receipts are adjusted to take account of discretionary measures, transformed into implicit tax rates, and then broken down into the structural components. A regression analysis of the trend ...

This paper investigates the relationship between government support for R&D and R&D expenditure financed privately by firms using a comprehensive plant level data set for the manufacturing sector in the Republic of Ireland. Our empirical strategy combines a nonparametric matching procedure with a difference-in-differences estimator in order to deal with the potential selection problem inherent ...