This convenient reference tool is designed for real estate investors who wish to maximize their tax benefits through a better understanding of real estate law. Ferguson and Spede thoroughly analyze and explain real estate tax laws, as well as the problems and advantages of purchasing, owning, and selling real estate. Specifically explained and illustrated are such issues as calculating excess investment and interest, installment selling, alternative minimum tax, investment credits, recapture of tax credits, trading properties, leases with options to buy, and the establishment of new bases for trade. In addition, the authors emphasize many of the tax traps and pitfalls encountered by investors, including accelerated depreciation, amortization of expenses, and tax write-offs. Also considered are related topics such as personal property taxes, special tax problems, the rehabilitation of historic and older commercial properties, low income housing, rental cooperatives, condominium units, and home ownership taxation. Finally, there is a discussion of tax reform, including the changes brought about by the Deficit Reduction Act of 1984, as well as the possible effects of the flat tax rate proposed by the Treasury Department in January of 1985. The volume is completely cross-referenced, and includes chapter summaries, case histories, and a glossary, as well as numerous tables and illustrations.

This book analyzes the dynamic macroeconomic effects of public capital in industrialized countries. The issue of whether public capital is productive has received a great deal of recent attention. Yet, existing empirical analyses have been limited to a small set of countries. This book presents a new database that provides internationally comparable capital stock estimates for 22 OECD countries for the 1960-2001 period. Building on this database, the book estimates the dynamic effects of public capital using a variety of econometric methods. The results suggest that public capital is productive in OECD countries on average. The theoretical analysis based on a dynamic general equilibrium model shows that the effects of public capital depend crucially on the way the government chooses to finance additional spending.

The Islamic Republic of Iran (IRI) is facing an existential crisis. It is ideologically exhausted, economically and morally bankrupt, increasingly unpopular with its own people, isolated, and friendless abroad. It is engaged in a struggle for survival. Nevertheless, as of the mid-1990s, Iran's weaknesses and turmoil have elicited little commentary from the outside world. Ahmed Hashim examines the acute threats and severe problems fading the rulers of Iran in the 1990s. He argues that the IRI entered the latter half of the 1990s faced with a conjunction of acute pressures threatening its political legitimacy, domestic stability, and national security.

This book examines the objectives of public debt management and the re-emerging issue of separating monetary policy formulation from fiscal and debt management. The recent Great Recession has resulted in a rethink of the objectives and working of macroeconomics, and in many countries, including India, has led to the scope of fiscal operations being expanded and debt-to-GDP ratios increasing significantly. Consequently, debt management has encountered considerable difficulties, and the need for coordination between monetary and debt management has assumed greater significance. The book discusses the important issue of the independence of central banks and the need for coordination between debt managers, monetary authorities and finance ministries if debt operations are separated from monetary management.

Preface This book contains the proceedings of the International Tax Conference on the c- th th mon consolidated corporate tax base (CCCTB) that was held in Berlin on 15 - 16 may 2007. The conference was jointly organised by the German Federal Ministry of Finance, the Centre for European Economic Research (ZEW), Mannheim, and the Max Planck Institute (MPI) for Intellectual Property, Competition and Tax Law, Munich. More than 250 participants from all over Europe and other regions, scholars, politicians, business people and tax administrators, discussed the Eu- pean Commission's proposal to establish a CCCTB. Three panels of tax experts evaluated the common tax base with respect to structural elements, consolidation, allocation, international aspects and administration. The conference made clear that the CCCTB has the potential to overcome some of the most intriguing problems of corporate income taxation within the Common Market. Common tax accounting rules substantially reduce compliance and administrative costs. Consolidation of a group's profits and losses effects cro- border loss compensation which removes a major tax obstacle for European cro- border investment. At the same time, tax planning with respect to financing and transfer pricing is pushed back within the European Union. Moreover, as far as the CCCTB applies, member states are able to remove tax provisions that are targeted at cross border tax evasion and that might be challenged by the jurisdiction of the Eu- pean Court of Justice.

This book offers an in-depth analysis of China's contemporary securities markets regulatory system, with a focus on regulation in practice. Examining the roles of both the China Securities Regulatory Commission and local governments, He argues that the government has built and developed markets from scratch to address the needs of the state and the economy at large. This book describes the workings of national and sub-national securities markets, and such a comprehensive approach gives insight into the ability of state regulation to guide a financial system. This book also provides a unique practical perspective, explaining of the dynamics of regulation in relation to the operation of the Chinese political system. Finally, it incorporates original empirical studies, including semi-structured interviews of professionals and a survey of retail investors. This book is an unparalleled resource for anyone interested in the regulation of securities markets, as well as finance in China in general.

This major three-volume work contains key papers which reflect the innovation and imagination that has characterised the field of welfare economics during the last 50 years. The selections range from literary treatments to the most advanced mathematical presentation. However, all readers, regardless of their mathematical sophistication or methodological predilections, will find a large number of the papers interesting and worthwhile in giving an overview of the present state of welfare economics and providing guides to the literature specialities of particular interest.

This book describes the institutions and process through which the Georgia General Assembly adopts a budget, the executive-legislative branch politics that transpire during the process and the tax and spending policies that the process produces. It argues that the state's budget is developed by fiscal conservatives within a culture of fiscal conservatism that is conducive to low taxes and low spending. It identifies the patterns and trends of taxing and spending over several decades and during the administrations of nine governors. Its chapter on the line-item veto illustrates the nature of executive-legislative budget relationships in the state. It concludes with an examination of the important milestones in the evolution of Georgia budgeting and a comparison of Georgia with other states on several dimensions. The book offers insights and assessments that will be of interest to budgeting scholars, students of state government, and citizens who want to know more about how government taxing and spending decisions are made.

For a long time, it has been the declared aim in many countries to fight tax evasion in all its different manifestations, from undeclared work by cleaners and gardeners in private households to tax evasion in the international capital markets. This study focuses on the phenomenon of undeclared work and the case of Germany, presenting the most comprehensive analysis of tax non-compliance for Germany to date, based on surveys conducted by the Rockwool Foundation. Theoretically, the analysis starts from the standard model of tax evasion as being influenced by the subjectively perceived extent of deterrence, the perceived marginal tax burden and social norms. Evidence is provided on the impact of deterrence and other factors on tax non-compliance, and several descriptive statistics are presented to better illustrate the natrure of undeclared work with regard to industry, region, education and other socio-economic characteristics.

This theoretically rooted and research-based book provides insights on the JESSICA funding model which - unlike the traditional non-repayable aid - focuses on supporting sustainable urban development projects in a repayable and recyclable way. Looking through the lens of the JESSICA financial engineering mechanism used in urban transformation, it examines the functioning and performance thereof and formulates policy recommendations for the future. The aim of this volume is to contribute to a deeper understanding of the JESSICA sustainable funding model by exploring its repayable assistance mechanism to support sustainable urban development projects. The authors make several noteworthy contributions to the literature on EU cohesion policy and shed light on the use of the repayable instruments within public interventions, while providing, for the first time, a critical analysis of the JESSICA sustainable funding model from the holistic perspective which is especially relevant for supporting sustainable urban development. Financial Engineering in Sustainable Funding of Urban Development in the EU provides policy-significant findings that are important for EU cohesion policy in the field of repayable assistance to be reinvested in the long term in urban and regional transformation.

This book firstly analyzes the status and characteristics of rural long tail public service and its unbalance in detail. In all, based on the long tail theory, mechanism design theory and resource dependence theory, this book makes an empirical study and basic judgment on the matching of supply and demand of rural long tail public services in China and explores the mechanism of the efficiency of supply and demand affecting the imbalance. This book presents a correction mechanism of rural long tail public demand based on the division of different response subjects and puts forward corresponding policy suggestions. By putting the rural public demand in the "embedded" economic and social system and the development process, this book analyzes its future trend and response path. Then, based on the difference of governance efficiency, this book analyzes the general causes of the unbalance of supply and demand of rural long tail public service. Especially for the representative field of rural public service (e.g., special education, old-age caring, medical care), this book carries out empirical studies (seemingly unrelated regression) to analyze the factors, internal mechanism and basic path of the imbalance of rural long tail public service. Thirdly, through the construction of the imbalance index of rural long tail public service, this book makes an empirical calculation of the severity of this imbalance. This book further puts forward the design of the correction mechanism for the imbalance of rural long tail public service and carries on the reasonable and orderly division for different supply subjects. In the end, this book puts forward the balanced "Internet + NGO" model for rural long tail public service and takes JD.com as an example to expound the operation of the network platform of the correction mechanism.

This volume presents the most robust and useful methodology for the derivation of investment criteria for the evaluation and planning of public investment projects - public investment criteria. The methodological approach solves inherent defects of traditional methodology, namely an ad hoc application of the benefit-cost analysis in the static content. Although this approach originated in the water resources development project of the Harvard group, the authors' methodology has achieved a discrete and dynamic inter regional input-output programming model by which: (i) establishment of priorities among potential investment targets by taking account of economic benefits that are brought by implementation of a set of selected projects, and diffusing into the whole national economy, and (ii) rational allocation of limited public funds to the selected investment projects are consistently made, based on the opportunity cost criteria in the dynamic content. As these benefits make up a source for the stream of further created capital funds for public as well as private sectors over the planning time horizon, optimal re-investment of thus created capital funds are solved recursively in the endogenous model by approaching the turnpike path of the whole national economy. As an optimal solution, the allocated levels for trunk expressway network as well as for other transport facilities, which are balanced with the allocation for industrial capital formation, are obtained by period and by region. In the background of these processes, the imputed price and opportunity costs as a sort of contemporary "god" are always latent. Readers with basic mathematical knowledge will learn functional and practical meaning of the opportunity costs (and the imputed price) in the evaluation and planning of investment. Conquering this small obstacle will be a source of strong self-confidence for society, a worthwhile objective. Other applications of the methodology are also included in this book, which is helpful for practitioners frequently using the feasibility study method as well as experts who wish to understand the theoretical arguments related to public investment criteria. As one of the applications, there is a numerical solution of a composite transport system in which the amounts of roads, railways, and ports are derived quantitatively, not qualitatively. These are results of authentic public investment criteria that are built in the inter-regional input-output programing model.

This book contains essays in honor of Charles B. Blankart on the occasion of his 65th birthday. The contributors include prominent scholars from the discipline of public finance and public choice. The essays include such topics as taxation, public choice, and regulation, and thus give testimony of Blankart's very broad ranging interests in economics.

Understanding the governance of nations is a key challenge in contemporaneous political economy. This book provides new advances and the latest research in the field of political economy, dealing with the study of institutions, governance, democracy and elections. The volume focuses on issues such as the role of institutions and political governance in society, the working of democracy and the electoral performance in several case studies. The chapters involve cutting edge research on many different countries, including the USA, Great Britain, Germany, Spain and the Third World. The authors of the chapters are leading scholars in political economy from America, Europe and Asia.

This book provides a comprehensive, theory-based analysis of current issues in population economics. It addresses the most important problems caused by demographic changes using the popular overlapping generations growth model by Samuelson and Diamond. Taking into account families' fertility decisions, it examines not only the demographic changes due to longer life expectancy but also the effects of social security policy on demography and labor supply/individual retirement behaviors. Conducting all analyses in a dynamic general equilibrium setting, the book offers a valuable theoretical reference guide in the field of population economics.

Dwindling innovation and deteriorating economic conditions are caused by a major force, a systemic shift in the American economy. In this gripping book, Dr. Samli makes the case that the US economy is shifting for the worse, tilting towards a finance-driven economy, and argues that investing in innovation will bring us out of the recession and back to a successful, market-driven economy. While the US is cost-cutting by sending jobs abroad, reducing education budgets, and redirecting government funds to military involvement, American innovation has been suffering and stifled. Dr. Samli explores the roots of the recession from this viewpoint and offers an 'innovative' solution for disciplining economic, political, and social activities to come out of the recession and restore the tilt towards the 99-percent.

The euro crisis made Europe's stateless currency falter. This book retraces and interprets the ways in which the crisis impacted the unique institutional set-up of Europe's Economic and Monetary Union (EMU). It argues that the crisis propelled the European continent towards the institutionalization of an unprecedented form of centralized authority: Europe's New Fiscal Union. Diving into the central functions of fiscal surveillance, financial assistance, lending of last resort and banking resolution, the book reveals how a covert and convoluted mutualisation process occurred in the shadow of the euro crisis management. Based on 62 interviews conducted by the author with senior policy-makers in Brussels, Frankfurt, Helsinki and Rome, the book claims that Europe's New Fiscal Union is largely unsettled and still unstable. It therefore engages with the challenges arising from the patchwork of newly adopted rules, instruments and bodies, suggesting crucial reform steps to make EMU sustainable.

The Russian budget process has received little detailed attention in academic literature. Here various key aspects of the formation of the federal budget, largely since Vladimir Putin began his third presidential term in 2012, are examined. It is primarily the writing of the expenditure side of the budget which is described, that is, how it is decided how much money is spent on what. While ample information is provided on budgetary outcomes, the focus is on the process: the issues faced by budget makers, the actors and institutions involved, and the formal and informal procedures that lead to outcomes. It is not the task of the volume to provide an analysis of the wisdom or effectiveness of particular budget allocations; its goal is to provide some judgement on the effectiveness of the process. Chapters are offered on the budgetary process as it relates to the two main claimants on federal budget funding, the social and defence sectors. Three chapters then examine the major locations of budgetary policy-making: the executive (at presidential and cabinet of ministers levels), the Duma, and the expert community. This book was originally published as a special issue of Post-Communist Economies.

Ingeniously organized in a life cycle format, the Handbook covers environmental taxation concepts, design, acceptance, implementation, and impact. The universal themes discussed in each area will appeal to a broad range of readers.' - Larry Kreiser, Cleveland State University, US'This book is a smart and useful reader's guide providing analytical tools for a full comprehension of environmental taxes, with an interdisciplinary approach that looks at all the different phases of environmental taxation: from the design to the implementation, the political acceptance and the impact on the economy. The authors' effort is very successful in endowing academicians, policy makers and the general public with an excellent proof of the effectiveness of environmental taxes and green tax reforms.' - Alberto Majocchi, University of Pavia, Italy 'Putting the words 'environment' next to 'taxation' might not always be the flavour of the month, but no modern society can ignore the value of the natural environment and the need to maintain its good quality and no competitive economy can prosper without the necessary tax revenues to function. Environmental taxation offers the prospect of moving towards a more resource-efficient economy, where preference is given to tax more what we burn, less what we earn. I welcome this contribution to the literature.' - Commissioner Connie Hedegaard, European Commission 'The Milne and Andersen volume provides a splendid treatment of environmental taxation that encompasses the basic conceptual issues, problems of tax design and implementation, and several insightful case studies that show how environmental taxes actually work in practice. It is the best overall treatment of environmental taxation available: comprehensive, rigorous, and readable.' - Wallace Oates, University of Maryland, College Park US The Handbook of Research on Environmental Taxation captures the state of the art of research on environmental taxation. Written by 36 specialists in environmental taxation from 16 countries, it takes an interdisciplinary and international approach, focusing on issues that are universal to using taxation to achieve environmental goals. The Handbook explores the conceptual foundations of environmental taxation, essential elements for designing environmental tax measures, factors that influence the acceptance of environmental taxation, the variety of ways to implement environmental taxes, their environmental and economic impact and, finally, the larger question of the role of taxation among other policy approaches to environmental protection. Intermixing theory with case studies, the Handbook offers readers lessons that can be applied around the world. It identifies key bodies of research for people who are already working in the field or entering the field and highlights issues that call for more research in the future. With systematic analysis of key issues in environmental taxation, this book will appeal to researchers, governments, think tanks, NGOs, and academics in law, economics, political science and public finance, as well as students specializing in environmental taxation and other market-based instruments. Contributors include: M.S. Andersen, H. Ashiabor, J.-P. Barde, N.A. Braathen, N.J. Chalifour, P. Ekins, M.G. Faure, O. Godard, P.M. Herrera, M. Jaccard, W.K. Jaeger, A. Loefgren, M. Mehling, J.E. Milne, A. Muller, H.O. Nielsen, B.E. Olsen, T. Palmer-Tous, J. Pavel, P. Preiss, A. Riera-Font, M. Rodi, M.A.G. Ruiz, R. Sairinen, K. Schlegelmilch, C.D. Soares, S. Speck, T. Sterner, P. Thalmann, E. Traversa, L. Vitek, H. Vollebergh, H. Vos, S.E. Weishaar, Y. Xu

In this updated edition, author Nicola Jentzsch provides an in-depth analysis of the economics and regulation of financial privacy. You get a comparative overview of credit reporting systems in the US and in the 27 member states of the European Union. This is the "most in-depth study of the history and economics of credit reporting to date," according to David Medine, former Associate Director of the U.S. Federal Trade Commission.

An inherently interdisciplinary subject, tax avoidance has attracted growing interest of scholars in many fields. No longer limited to law and accounting, research increasingly has been conducted from other perspectives, such as anthropology, business ethics, corporate social responsibility, and economic psychology. This was -recently stimulated by politicians, mass media, and the public focussing on tax avoidance after the global financial and economic crisis put a squeeze on private and public finances. New challenges were posed by changing definitions and controversies in the interpretation of tax avoidance concept, as well as a host of new rules and policies that need to be fully understood. This collection provides a comprehensive guide to students and academics on the subjects of tax avoidance from an interdisciplinary perspective, exploring the areas of accounting, law, economics, psychology, and sociology. It covers global as well as regional issues, presents a discussion of the definition, legality, morality, and psychology of tax avoidance, and provides guidance on measurement of economic effect of tax avoidance activities. With a truly international selection of authors from the UK, North America, Africa, Asia, Australasia, Middle East, and continental Europe, with well-known experts and rising stars of the field, the contributors cover the entire terrain of this important topic. The Routledge Companion to Tax Avoidance Research is a ground-breaking attempt to bring together scholarly research in tax avoidance, offering rigorous academic analysis of an important and hotly debated issue in a structured and balanced way.

This state-of-the art collection of papers analyses various aspects of the theory of externalities and public goods. The contributions employ new analytical techniques like the aggregative game approach, and discuss the philosophical underpinnings of the theory. Furthermore, they highlight a range of topical empirical applications including climate policy and counterterrorism. This contributed volume was written in memory of Richard C. Cornes, a pioneer in the theory of externalities and public goods.

This book describes the ontology structure, types of actors, their potential actions, and ways that actions can affect the things that are part of the conflict. An ontology of unconventional conflict supports the understanding of unconventional conflict in general. It also provides a tool for understanding and investigating a particular unconventional conflict. The ontology specifies the relations among the elements and supports creating a description of a particular situation. Unconventional conflict spans the range from natural disasters through human disagreements to irregular warfare (up to conventional war). Unconventional conflict involves damage to things and injuries to people; however, the critical factors are the actions, reactions, and opinions of people, including political, military, economic, social, infrastructure, and information components. This ontology supports and will appeal to military strategists, political scientists, economists, and politicians in understanding their planning for, and managing of these conflicts.