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Books > Business & Economics > Finance & accounting > Finance > Public finance
Essays on Cooperative Games collates selected contributions on Cooperative Games. The papers cover both theoretical aspects (Coalition Formation, Values, Simple Games and Dynamic Games) and applied aspects (in Finance, Production, Transportation and Market Games). A contribution on Minimax Theorem (by Ken Binmore) and a brief history of early Game Theory (by Gianfranco Gambarelli and Guillermo Owen) are also enclosed.
This book addresses the optimization of taxation systems, a topic currently being explored by scholars all over the world. It puts forward a critical opinion on the problem and offers an original approach to solving it - through informatization. The target audience of the book includes not only scholars and experts who professionally deal with taxation optimization issues, but also representatives of public authorities, and the general public. The book offers sound and practical solutions for the informatization-based optimization of taxation systems, and its conclusions and recommendations could be used in the management of tax systems for modern economic systems and in taxation optimization for specific economic subjects - individuals and organizations alike - , ensuring a broad range of practical applications.
What constitutes a good life? For most people, well-being involves more than a high income or material prosperity alone. Many non-material aspects, such as health, family life, living environment, job quality and the meaningful use of time are at least as important. Together, these factors also influence the degree to which people are satisfied with their lives, and help to determine how happy they feel. This book argues that happiness and life satisfaction do not form a good basis for measuring well-being, and proposes an alternative method that not only considers the various aspects of well-being, but also the fact that people have their own views on what is important in life. Not limited just to theory, the book also presents a large-scale, representative survey involving more than 3000 adults from over 2000 Belgian families, which charted the various aspects of the individual well-being of Belgians. Focusing on the unequal distribution of these various aspects of well-being within families, the survey showed that some Belgians are more likely to suffer from cumulative deprivation in multiple dimensions. Based on this innovative study, the book describes which people in society are worst off - and these are not necessarily only people on low incomes or those who feel unhappy - and proposes that policymakers prioritise these individuals.
This book discusses the latest developments in the China Pilot Free- Trade Zone strategy. It puts forward and explains the idea that building the Shanghai Pilot Free-Trade Zone (SFTZ) is a national test, as it is a major strategic decision to help China cope with the new situation resulting from opening-up and the further implementation of the reform. Based on China's strategic demand in the era of globalization, this book takes into account the global structure of trade, investment and changes in standards, and studies the system of SFTZ. Moreover, based on the national strategy of building international-caliber free-trade zone, it compares the SFTZ with other established free-trade zones and free-port cities. It reveals the overall SFTZ framework and explains in detail aspects of the financial system, investment management, trade supervision, taxation, offshore trade and finance, government system reform, plus the linkage mechanism of building Shanghai as an international economy, finance, trade and shipping center.
This book presents state-of-the-art research in political economy dealing with the decision making process under different political institutions. It focuses on the role that states and governments have on political outcomes and on the well-being of individuals, taking into account the differences that arise across autocracies and democracies and within political regimes. The research in this book is embedded with the political economy and social choice traditions and uses the rigorous frameworks of economics, political science and social choice theory to show how institutional settings shape social choices of a group of individuals or a nation. The contributions in this volume use a variety of cutting-edge game theory and mathematical tools as well as data and simulations that coupled with statistical techniques help us gain greater insights into these issues.
This book explores the wave of liberalization reforms experienced by OECD network industries. Focusing on the telecommunications sector, the authors analyze the latest data available on liberalization and privatization, and following a political economics approach, they integrate standard economic analysis with the most recent studies of the political determinants of market-oriented policies. The book presents new econometric evidence on several policy issues, including institutional complementarities dynamics, the problem of policy sequencing and the role of government political ideology. The detailed and comprehensive discussion offers insights into how so many countries adopting similar reforms actually differ in their policy "bundling", intensity and implementation of liberalization and privatization.
Comparative study of public enterprise management in different countries around the world, pointing to historical trends and current issues and problems. Experts survey an interesting collection of countries in the Americas, Asia, the Middle/Near East, Europe, and Australia. They also discuss public enterprise management education. References with each chapter contribute to the usefulness of this assessment for political scientists, public administrators, international businessmen, and those engaged in international studies.
The various dimensions of the changes to the EC budget induced by Maastricht are explored in this volume. Based on the theory of fiscal federalism, this book discusses important aspects of multilayer government finance for existing federations: Australia, Germany, Switzerland and the United States. Paul Bernd Spahn sketches the effects of an Economic and Monetary Union (EMU) onto the Community budget, and a systematic treatment of revenue instruments for its future financing concludes the analysis. The main emphasis of the work is on revenue raising for the EC under EMU.
This book discusses the extent and nature of COVID-19 pandemic in India and its effect on the society and economy. The suggested management practices discussed here are also not stereotype. At the same time, it highlights deficiency in development fundamentals in India on several dimensions, especially health, education, quality of public spending, taxation orientation, external trade involvement across states, etc., deficiencies which create an inbuilt bottleneck toward the creation of a more equal society. While discussing these, the book throws light on how they were expectedly exacerbated by the sudden negative shock in the form of COVID-19 pandemic. Thus, the book has highlighted the COVID pandemic and its response in India in the background of certain less discussed aspects of development fundamentals. The contents would be of interest to researchers and students studying socioeconomic aspect of developmental economics and also to policy makers and non-government entities involved in mitigating effects of pandemic in the socioeconomic sphere.
Since World War II the subject of social choice has grown in many
and surprising ways. The impossibility theorems have suggested many
directions: mathematical characterisations of voting structures
satisfying various sets of conditions, the consequences of
restricting choice to certain domaines, the relation to competitive
equilibrium and the core, and trade-offs among the partial
satisfactions of some conditions. The links with classical and
modern theories of justice and, in particular, the competing ideas
of rights and utilitarianism have shown the power of formal social
choice analysis in illuminating the most basic philosophical
arguments about the good social life. Finally, the ideals of the
just society meet with the play of self interest; social choice
mechanisms can lend themselves to manipulation, and the analysis of
conditions under which given ideals can be realised under self
interest is a political parallel to the welfare economics of the
market. The contributors to these volumes focus on these issues at
the forefront of current research.
Urban governance in most western democracies has seen various forms of public-private concerted actions becoming increasingly important instruments for local governments. These new features of urban governance are often seen as local governments trying to enhance their "capacity to act" by fusing their capabilities with those of other major societal actors. At the same time such transgressions of the border between the public and the private spheres of society make local governments more susceptible to political pressures from those actors. This volume looks at the historical development and present performance of public-private partnerships for local economic development in western Europe and the United States. The theoretical framework applied in the volume is derived from theories of governance as well as from institutional theory.
This book elaborates on how Norway has managed to convert a large fraction of its endowment of hydrocarbons below the seabed of Norwegian waters into financial wealth, invested in the world's capital markets. Further, it explains how this wealth is managed. Under the current guidelines, only the assessed return on investment may be allotted to public budgets. This ensures that the wealth will benefit both current and future generations. The capital is gathered in the Sovereign Wealth Fund - or State Pension Fund Global (SPF-G) -, which is intended to maximize capital value without exceeding acceptable risks. The book offers new insights into the history and management of the fund, examines its successes,and discusses future challenges. Given its scope, it appeals to scholars of economics, finance and political science, and to anyone interested in the sustainable investment of natural resource-based revenues.
In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.
The first comprehensive analysis of the design and effects of tax and expenditure limitations (TELs), "The Control of Municipal BudgetS"shows how limitation measures have worked and offers practical guidelines for analyzing and designing such programs under current economic and political conditions. Looking first at the characteristics of different types of TELs, Merriman discusses the various ways in which limitations may be imposed. He next reviews the history and current status of TELs, beginning with control efforts imposed more than a century ago, and comments on the long-range consequences of such measures. He examines conventional government budgeting models (those not governed by TELs) and then develops a model for government behavior under a TEL that will enable decisionmakers and analysts to understand how the effects of a TEL are related to its design. In an analysis of New Jersey's Cap Law, the author applies the analytical model to a concrete instance and presents new evidence on specific effects of TEL programs.
Lifetime distribution and redistribution is analysed in this book, in far more detail than has been attempted before. A dynamic cohort microsimulation model is used as an exciting new tool to analyse several questions which have previously been almost impossible to answer. These questions concern income distribution and redistribution, social security and income tax incidence. This book will be of interest to those working in social and economic policy who are concerned about such issues. It will also be of interest to the rapidly growing numbers of researchers and government analysts constructing microsimulation models.
Education Matters presents in one volume many of Alan B. Krueger's contributions to the economics of education. This invaluable collection of papers, based on his groundbreaking research from the 1990s, has been published in a wide range of professional outlets and has influenced public policy and research in the US and throughout the world. The book opens with an introductory essay explaining the importance of the study of the economics of education as well as providing an overview of the book. The author then goes on to discuss and analyse the important topics in the economics of education, including the economic pay off from attending school for longer, the return to investments in school resources, causes of the increased pay off to education, the contribution of education to economic growth, and racial differences in school quality and their consequences. The final chapter provides a framework for evaluating schools. This fascinating collection of work, from a writer at the forefront of economics and educational research, will be warmly welcomed by academics in the areas of human capital, economics and public policy, as well as by educational policymakers.
Developments across the millennia suggest that, even though democracies and free market economies are continuously challenged by crises and disturbances, such as natural disasters, wars, or technological revolutions, in the countries where they take roots civil liberties deepen and per capita prosperity increases. To substantiate this claim analytically, the authors emphasize the principles that make free markets a sine qua non condition for democracy and study the nature of the relationship between free market institutions and economic growth. By examining the operating principles, outcomes and challenges experienced by contemporary democracies, many lessons are drawn with regard to how governments should act in order to avoid the pitfalls inherently associated with representative democracy. To illustrate the dangers of deviating from these principles, the authors apply their findings to the Greek democracy and economy since the Second World War.
Local governments are hard-pressed to balance their budgets in the 1990s. Part of any budget-balancing effort is accurate forecasting. In this new work, Howard Frank introduces time-tested forecasting techniques from the private sector and military in a local forecasting environment. In a lucid, user-friendly treatment, Frank shows how simple and complex methods can be put to use in the contemporary local government setting. Through examples--many of them from his own research--the author delineates the strengths and weaknesses of quantitative and non-quantitative forecasting methods. Frank also shows how these techniques can be used to monitor changes in public programs--an increasingly important part of contemporary budget execution. Frank does not assume an extensive mathematical or statistical background on the part of the reader--indeed, a forecast neophyte will have no difficulty understanding the text. Questions at the end of each chapter focus the reader on the major concepts and provide insights on practical applications within the urban setting. A cornerstone of the work is that local forecasters must be intelligent experimenters with the new tools--there is no canned advice that applies to all cities and forecast situations. But with application of forecasting approaches treated in this unique work, local budgeters--and those in training to become budgeters--will be able to adopt forecasting approaches that have been underutilized in local government.
This classic book tells the story of the development of Income Tax
from its beginning in 1799 to the present day and relates it to the
social, economic and political history of the period.
The financial difficulties experienced by Greece since 2009 serve as a reminder that countries (i.e., sovereigns) may default on their debt. Many observers considered the financial turmoil was behind us because major advanced countries had adopted stimulus packages to prevent banks from going bankrupt. However, there are rising doubts about the creditworthiness of several advanced countries that participated in the bailouts. In this uncertain context, it is particularly crucial to be knowledgeable about sovereign ratings. This book provides the necessary broad overview, which will be of interest to both economists and investors alike. Chapter 1 presents the main issues that are addressed in this book. Chapters 2, 3, and 4 provide the key notions to understand sovereign ratings. Chapter 2 presents an overview of sovereign rating activity since the first such ratings were assigned in 1918. Chapter 3 analyzes the meaning of sovereign ratings and the significance of rating scales; it also describes the refinement of credit rating policies and tools. Chapter 4 focuses on the sovereign rating process. Chapters 5 and 6 open the black box of sovereign ratings. Chapter 5 compares sovereign rating methodologies in the interwar years with those in the modern era. After examining how rating agencies have amended their methodologies since the 1990s, Chapter 6 scrutinizes rating disagreements between credit rating agencies (CRAs). Chapters 7 and 8 measure the performances of sovereign ratings by computing default rates and accuracy ratios: Chapter 7 looks at the interwar years and Chapter 8 at the modern era. The two chapters assess which CRA assigns the most accurate ratings during the respective periods. Chapters 9 and 10 compare the perception of sovereign risk by the CRAs and market participants. Chapter 9 focuses on the relation between JP Morgan Emerging Markets Bond Index Global spreads and emerging countries' sovereign ratings for the period 1993-2007. Chapter 10 compares the eurozone members' sovereign ratings with Credit Default Swap-Implied Ratings (CDS-IRs) during the Greek debt crisis of November 2009-May 2010.
The tax reform movement that swept the U.S., Great Britain, and most other industrialized nations during the last decade has focused attention on international comparisons of the cost of capital. More recently, international comparability has become a critical issue of tax harmonization. This is a vital concern in the European Community, as well as between Canada and the United States. This volume provides international comparisons of the cost of different types of capital for nine major industrialized countriesAustralia, Canada, France, Germany, Italy, Japan, Sweden, the United Kingdom, and the United Statesfor the period 1980-1990. In the early 1980s the introduction of tax incentives for saving and investment gradually shifted the tax base from income toward consumption. By 1990 most of these special tax provisions had been reduced or repealed in order to lower tax rates and equalize the tax treatment of different forms of capital income. Income was firmly reestablished as the most appropriate basis for taxation. Separate chapters for each of the nine countries, written by leading experts in public economics, provide detailed accounts of tax policy changes over the decade. Each chapter contains a quantitative description of these tax policies and summarizes this information in the form of effective tax rates. The book thus serves as an indispensable reference for comparing capital income taxation in industrialized countries during a period of rapid policy change.
Recently, a research program on the compliance costs and the economic effects of taxation in New Zealand was undertaken within the Inland Revenue Department. Taxation and the Limits of Government is an edited volume which presents the best of the papers that emerged from that research program. Topical coverage includes a brief history of reform in New Zealand, the effect of taxation on economic growth, the marginal cost of taxation, the employment effects of taxation, income distribution, the hidden economy and taxation, tax compliance, taxation and bankruptcy, and estimates of effective tax rates.
The current state of research in the international public finance field is elucidated in the fifteen papers collected in this volume, selected from among the more than 200 that were presented at the 53rd Congress of the International Institute of Public Finance held in Kyoto, Japan, in August 1997. The collection assembled here is not intended to comprise a proceedings of the Congress but, rather, presents the ideas of eminent scholars in seven areas of current research in the international public finance field: The Welfare State, Public Investment and Economic Growth, Inter-Governmental Relations, Tax Competition and Foreign Direct Investment, Foreign Investment in Transitional Economies-Russia and China, and Equalization Transfer Systems in Japan and Australia. The highlight of the Congress was the brilliant debate between two of the greatest authorities in the area of public finance, James M. Buchanan and Richard A. Musgrave, whose papers form the opening section of the volume. |
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