This paper reassesses the burden of the current U.S. international tax regime and reconsiders well-known welfare benchmarks used to guide international tax reform. Reinventing corporate tax policy requires that international considerations be placed front and center in the debate on how to tax corporate income. A simple framework for assessing current rules suggests a U.S. tax burden on foreign...

Many analysts decry the lack of sufficient investment in Africa, implying that investment in Africa is “too low.” We find no evidence that private and public capital are productive in Africa, either in the cross-country data or in micro data from Tanzania. In this restricted sense, investment in Africa is too high rather than too low. Shantayanan Devarajan* William R. Easterly* Howard Pack** *W...

this study aimed to investigate the factors affecting intention of citizens toward participating in activities related to development and protection of green spaces in tehran. the research was descriptive-correlation and survey method was used. the statistical population of this study consisted of all citizens in tehran. using proportional and stratified random sampling, 626 citizens were selec...

financial literacy of investors reduces uncertainty on future decisions and increases predictability of investment policies in financial markets. thus, the lack of clear information on financial markets is a determining factor in the arrival of domestic and foreign capitals and their quick exit in case of crisis. the lack of transparency and basic knowledge on decisions and failure to provide r...

Abstract Can new channels for mid‐skill labour mobility simultaneously enhance the welfare of Australia and Pacific Region? Answering this question requires forecasting Australian demand vocationally‐skilled migrants over next generation, potential supply those migrants. We project such three decades by combining data on trends in basic tasks with native investment education commensurate tasks....

Using micro-data from 48 developing countries, this article studies changes in cross-sectional patterns of fertility and child investment over the demographic transition. Before 1960, children from larger families obtained more education, in large part because they had richer and more educated parents. By century’s end, these patterns had reversed. Consequently, fertility differentials by incom...

We develop a model of investment under uncertainty for a firm facing external financing costs. Such a firm prefers to fund its investment through internal funds, so that the firm’s optimal investment policy and value now depend on the size of its retained earnings. We show that the standard real options results are significantly modified when there are external financing costs. Importantly the ...