Kontogeorgopoulos, N., & Chulikavit, K. (2010). Supply-side perspectives on ecotourism in Northern Thailand. International Journal

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a perceived skill shortage and location of work/salary/working conditions dominates the individual’s explanation for being unemployed. However further analysis is required using different data sources to understand if a lack of geographical mobility (e.g. provincial flexibility) hinders the supply-side

In this paper we study the welfare impact of alternative tax schemes on labor and capital. We evaluate the e¤ect of lowering capital income taxes on the distribution of wealth in a model with heterogeneous agents, restricting our attention to policies with constant tax rates. We calibrate and simulate the economy; we …nd that lowering capital taxes has two e¤ects: i) it increases e¢ciency in terms of aggregate production, and ii) it redistributes wealth in favor of those agents with a low wage/wealth ratio. We …nd that the redistributive e¤ect dominates, and that agents with a high wage/wealth ratio would experience a large loss in utility if capital income taxes were eliminated. Universitat Pompeu Fabra (Barcelona) 1

This paper studies the dynamics associated with permanent and temporary reductions in the devaluation rate. The analysis uses an intertemporal optimizing model of a small open economy with imper-fect capital markets and endogenous labor supply. With a constant capital stock, the model predicts

capital markets. Labor supply is endogenous and wages are °exible. With a constant capital stock and no investment, the model predicts an initial reduction in real wages and an expansion in output. Consumption falls on impact but increases afterward. In addition, with a temporary shock, a current account

People inspired by rational-choice theory are advocating choice policies. Their recommendations are based on implicit assumptions about how school leaders would respond to a choice system. This survey research study investigated the demographic characteristics of open and closed districts during Ohio's first year of full interdistrict open enrollment. It also invel,tigated the reasons superintendents gave for their district's decision to open or remain closed. The following demographic characteristics typified open districts: declining enrollment, rural location, low enrollment, racial homogeneity, and/or below-average per pupil expenditure. In contrast, closed districts were typified by above-average per pupil expenditure, suburban location, growing enrollment, and/or a minority enrollment of 11 to 20 percent. The superintendents indicated that lack of space and financial

This paper tests New Classical and Keynesian explanations of output determination within an encompassing "factor utilization" model wherein the output decision by producers is modelled as the choice of a utilization rate for employed factors. In this encompassing model, the ratio of actual to normal output (with the latter defined by a nested CES vintage production function with capital, energy and employment as factor inputs) is explained by unexpected sales (a Keynesian element), abnormal profitability (one component of which is the Lucas "price surprise " effect), and abnormal inventories. Results using Canadian data show that the Keynesian and New Classical elements contribute explanatory power, as does the production-function-based measure of normal output, while each of these partial models is strongly rejected in favour of the encompassing model. The highly structured factor utilization model is also seen to fit better than an unstructured VAR model. U.S. data confirm the results, and show that there are significant effects from abnormal demand, profitability and inventory levels even if the labour and capital components of normal output are defined using hours and utilized capital rather than employment and the capital stock. The results are also confirmed using alternative output (and hence input) concepts, using a translog function instead of a CES function to define normal output, and using data for several other major industrial countries.

We evaluate the effect on welfare of shifting the burden of capital income taxes to labour taxes in a dynamic equilibrium model with heterogeneous agents and constant tax rates. We calibrate and simulate the economy; we find that lowering capital taxes has two effects: it increases efficiency in terms of aggregate production and it redistributes wealth in favour of those agents with a low wage/ wealth ratio. When the parameters of the model are calibrated to match the distribution of income in terms of the wage/wealth ratio, the redistributive effect dominates, and agents with a high wage/ wealth ratio would experience a large loss in utility if capital income taxes were eliminated. A large part of the literature on dynamic taxation in equilibrium models with rational expectations has reached the conclusion that capital taxes should be abolished or, at the very least, severely reduced. Chamley (1986) showed that in a dynamic equilibrium model with proportional taxes, full commitment and time-varying taxes, it was optimal to suppress capital taxes in the long run. This reduction in capital taxes would promote aggregate investment, increase production and consumption in the long run. This result has been shown to be robust to many extensions.

Abstract not found