Under the New Zealand Emissions Trading Scheme, forests planted on or after 1 January 1990 earn carbon credits. These credits have to be repaid when the forest is harvested. This paper analyses the effects of this scheme on the value of bareland on which radiata pine is to be planted. A real options method is developed and applied, assuming stochastic carbon and timber prices. We find that land...

I study the impact of the Orphan Drug Act (ODA), which established tax incentives for rare disease drug development. I examine the flow of new clinical drug trials for a large set of rare diseases. Among more prevalent rare diseases, the ODA led to a significant and sustained increase in new trials. The impact for less prevalent rare diseases was limited to an increase in the stock of drugs. Ta...

A change of shares of credits portfolio is described by Markov chain with discrete time. A credit state is determined on as an accessory to some group of credits depending on presence of indebtedness and its terms. We use a model with discrete time and fix the system state through identical time intervals once a month. It is obvious that the matrix of transitive probabilities is known incomplet...

Health Coverage Tax Credits (HCTCs), created under the Trade Act of 2002, pay 65 percent of health insurance premiums for certain workers displaced by international trade and early retirees. These credits can be paid directly to insurers when monthly premiums are due, in advance of annual tax return filing. While HCTC administrative costs have fallen significantly since program start-ups, they ...

Virtualization-based cloud computing platforms allow multiple virtual machines (VMs) running on the same physical machine. Efficient allocation of limited underlying resources has been a key issue. This paper presents an efficient CPU resources dynamic allocation scheme (CRDA). CRDA uses the allocated credits and consumed credits to diagnose the CPU resources requirements of VMs and dynamically...

Markets are increasingly being used and proposed as a way to address environmental problems and manage natural resources. Functioning markets exist for water rights and sulfur dioxide credits can even be purchased via the Internet. Markets are being developed for trading water quality credits, greenhouse gas emissions, and many other environmental services. In this paper, I examine why such mar...

Rising pharmaceutical prices, increasing demand for more effective innovative drugs and growing public outrage have heightened criticism of the pharmaceutical industry. The public debate has focused on drug prices and access. As a consequence, the patent system is being reexamined as an efficient mechanism for encouraging pharmaceutical innovation and drug development. We propose an alternative...

We explore the impact of the child care tax credit in the U.S. income tax system on the labor supply decisions of married women with young children by incorporating the cost of child care into a structural labor supply model. Using data from the 1986 NLSY, we find that government subsidies to child care increase labor supply substantially. Our policy simulations show that an increase in the val...

Essentially, the bank is financial institution which has function to raise funds from thecommunity in form of deposits, and channel it back community creditor other. Credits main activities performed by Bank Perkreditan Rakyat, because will bemakes a profit. However, presenting credits also provide lot risks that must bereceived or experienced BPR, be received aresourced credit. Therefore, this...

The relation between physical probabilities (rating) and risk-neutral probabilities (pricing) is derived in a large market with a quasi-factor structure. Factor sensitivities and default probabilities can be estimated for all kinds of credits on historical rating data. Since factor prices are obtainable from market data, the model allows the pricing of non-marketable credits and structured prod...