Public finance experts have long explored the issue of income taxes making the cost of market transactions higher than nonmarket ones. A 50 percent income tax, for example, requires $20,000 in income to purchase $10,000 of market goods. The tax can be avoided, however, if the same goods can be produced at home. The upshot is that income taxes encourage the home production of goods and services ...

In a equilibrium model with uncertainty averse consumers, we prove that more ambiguity aversion implies less trade. The reduction in trade caused by ambiguity aversion can be as severe as to lead to no-trade, even in the Choquet Expected Utility (CEU) or Maximin Expected Utility (MEU) models. Our results do not assume that consumers have constant endowments, as usual in the literature, but only...

All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including O notice, is given to the source. There are two principal theories of why countries trade: comparative advantage and increasing returns to scale. Yet there is no empirical work that assesses the relative importance of these two theories in acc...

This paper makes the case for negotiating a common international charge on greenhouse gas emissions (“carbon”) as opposed to global cap-andtrade. All countries would be covered in principle, but a much smaller number that covered most of the emissions would suffice. The charge would be internationally adjusted from time to time, and each country would collect and keep the revenue it generated b...

With the development of economy and technology in China, consumers' demand for tobacco products is rising, import export trade volume substitutes gradually increasing. The occupies an important position agricultural trade. This paper collects data at home abroad by searching United Nations Commodity Trade Statistics Database, National Bureau database statistical yearbook, analyzes competitivene...

This paper assesses radio frequency exposure of a mobile handset user in the context of a new class of cellular base station: the femtocell. Traditional cellular network construction relies on using a single base station to cover a large area and serve dozens to hundreds of users. The femtocell (named after the minuscule size of the coverage area) provides a low-power in-home cellular connectio...

Every year there are about 5500 fatal accidents in British homes (some two fifths of all fatal accidents). A further 2 2 million people have non-fatal accidents at home needing hospital treatment, and another 900 000 are dealt with by general practitioners. The cost of domestic accidents to the health service in England and Wales is about £300 000 a year.' Statistical information about non-fata...

with the aim of reducing cost of electricity consumption and peak load reduction, tools requirement for better managing electricity consumption have become inevitable in recent years. smart home has some equipment which are controllable and this ability is used for increasing comfort and minimizing electricity cost for residence. as a key component of smart home , electric vehicle(ev) ,increase...

We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels of monitoring of firms and thus the levels of risk-taking, where the risk of bank failure is partly bor...