1,721,078 research outputs found
International coordination on climate policies
No full textInternational coordination on climate policies. Special section inthe Journal of environmental economics and management, vol 66 n°2 september 2013 http://www.sciencedirect.com/science/journal/00950696 Contents : International coordination on climate policies / Michael Finus, Christos Kotsogiannis, Steve McCorriston Climate and international trade policies when emissions affect production possibilities / Christos Kotsogiannis, Alan Woodland Flattening the carbon extraction path in unilateral ..
International coordination on climate policies
No full textInternational coordination on climate policies. Special section inthe Journal of environmental economics and management, vol 66 n°2 september 2013 http://www.sciencedirect.com/science/journal/00950696 Contents : International coordination on climate policies / Michael Finus, Christos Kotsogiannis, Steve McCorriston Climate and international trade policies when emissions affect production possibilities / Christos Kotsogiannis, Alan Woodland Flattening the carbon extraction path in unilateral ..
Is the Event Study Methodology Useful for Merger Analysis? A Comparison of Stock Market and Accounting Data
Full text linkWe use a sample of 167 mergers during the period 1990-2002 involving 544 firms either as merging firms or competitors. We contrast a measure of the merger’s profitability based on event studies with one based on accounting data. We find positive and significant correlations between them when using a long window around the announcement date. ZUSAMMENFASSUNG - (Ist die "event study" Methodologie nützlich für die Analyse von Fusionen? Ein Vergleich von Aktienmärkte und Bilanzdaten) Wir analysieren eine Stichprobe von 167 Fusionen, die zwischen 1990 und 2002 stattgefunden haben und welche 544 Unternehmen -entweder als fusionierende Parteien oder als Wettbewerber- involviert haben. Wir vergleichen eine auf "event studies" basierende Rentabilitätsmaß der Fusion zu einer alternativen Maß, die durch Bilanzdaten konstruiert wurde. Wir finden, dass diese zwei maße positiv und signifikant korrelieren besonders wenn wir ein langes Fenster um die Fusionsankündigung in dem "event study" benutzen.Mergers, Merger Control, Event Studies, Ex-post Evaluation
Local Government Finance in Kentucky: Time for Reform?
Full text linkThis is a time of increased interest in local government finance in Kentucky, as evidenced by the creation of a Task Force on Local Taxation, established by the General Assembly. The final report of the Task Force offers significant recommendations, including an amendment of the state constitution that would provide the General Assembly with the flexibility to institute new instruments of local government finance. The present paper reviews the status of local government finance in Kentucky and discusses some of the key findings and recommendations of the Task Force. As the Task Force report clearly recognizes, informed analysis of local tax policy in Kentucky is hampered by inadequate data on local government finances. This paper identifies some of these deficiencies and a number of important policy issues that require further policy analysis, particularly if the General Assembly entertains significant reforms of local taxation.
Disaster Policy in the US Federation: Intergovernmental Incentives and Institutional Reform
Full text linkThe devastation resulting from the hurricanes of 2005 could largely have been avoided at modest cost, evidence of a policy failure that may stem from misaligned incentives among levels of government. In particular, Federal government provision of ex post disaster relief means that subnational governments are not rewarded for costly but socially efficient policies that limit disaster losses. A system of Federally-mandated, state-funded disaster reserves would strengthen subnational government incentives to implement more disaster-averse policies. Illustrative calculations show that the costs of such reserves would vary widely by state but would not impose undue burdens on state fiscal systems.
Federal Tax Competition and the Efficiency Consequences for Local Taxation of Revenue Equalization
Full text linkRecent work has shown that a system of equalization grants can limit tax competition among lower-level governments. The structure of such models, however, does not allow for the federal to be an active player but its role is being limited in the administration of the equalization grants. The implication of this is that potentially important, for the efficiency properties of lower-level government taxation, vertical fiscal externalities are ignored. This paper introduces equalization grants into a standard federal capital tax competition model in which fiscal externalities arise not only horizontally, between jurisdictions, but also vertically between the levels of government. It is shown that, even in the presence of vertical fiscal inefficiencies, efficiency in the level of lower-level government taxation can be achieved by a modifying version of a standard equalization grant formula.Federal tax competition; fiscal externalities; equalization grants
A Service of zbw Leibniz-Informationszentrum Wirtschaft Leibniz Information Centre for Economics On the incentives to experiment in federations ON THE INCENTIVES TO EXPERIMENT IN FEDERATIONS ON THE INCENTIVES TO EXPERIMENT IN FEDERATIONS
No full textStandard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Conventional wisdom has it that policy innovation is better promoted in a federal rather than in a unitary system. Recent research, however, has provided theoretical evidence to the contrary: a multi-jurisdictional system is characterized -due to the existence of a horizontal information externality -by under-provision of policy innovation. This paper presents a simple model that introduces political competition for federal office. Under such competition political actors use the innovative policies in order to signal ability to the electorate. In the equilibrium analyzed policy innovation may occur more frequently than in a unitary system. It is thus shown that, once electoral motives are accounted for, the conventional wisdom is likely to be a valid proposition. Terms of use: Documents in EconStor may JEL Code: H77, R59
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
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