We estimate the sensitivity of investment to the cost of outside equity for young firms. For estimation, we exploit differences across firms in eligibility to a new tax relief program for individual outside investors in the UK. On average, investment increases 1.5% in response to a 10% drop in the cost of outside equity. This average conceals substantial heterogeneity: 1% of eligible firms issu...

The German Retirement Saving Act instituted a new funded system of supplementary pensions coupled with a general reduction in the level of state pay-as-you-go old-age pensions. In order to qualify for tax relief, the providers of supplementary savings products must offer a guarantee of the nominal value at retirement of contributions paid into these saving accounts. This paper explores how this...

Extending health insurance coverage to more children is currently of considerable policy interest as evidenced by the number of bills so far introduced in the 105th Congress. 1 These legislative initiatives propose a range of mechanisms for reducing the number of uninsured children including: tax credits and vouchers for families to assist them in purchasing insurance coverage for their childre...

In this paper, the subsidies accruing to owner-occupiers in the Newcastle travel-towork area (TTWA) for the period 1985-87 is examined. Data at the micro level from two building societies are used to produce estimates of the impact of mortgage-interest tax relief at source and the nontaxation of imputed rent. The overall level of subsidy is shown to have fallen through time and the greatest rel...

Veterinary practice is a private business that provides professional health care to many species of animals. There is now an increasing division of the veterinary profession into specialist niches, and exotic pet medicine is currently an expanding area. Many veterinarians are becoming speciesspecific treating only horses or poultry, or food-fish. Some are discipline-specific such as dermatologi...

patterns that acquire meaning in the proper context. Different percussion patterns inTuesday March 17 ' ,1970 -photo by oppenheimer night. Hsiao En, the brave, troubled fisherman was played by a greybearded Peter Lu. His loyal, concerned daughter was portrayed by Grace Chen. Ni Jung and Li Chun were played by S.H. Sun and C.F. Hsiao. One of these characters had a fierce painted face and red bea...

F or several decades, the selection of a proper tax base has been among the most serious concerns for the economic policy makers. The computable general equilibrium models analysis provides a comprehensive framework for the investigation of the effects of the adopted policies on the economy of a country. In the present study, using a static computable general equilibrium, the effects of tax ref...

Policies to cap emissions of carbon dioxide (CO2), such as the recently announced agreement among seven northeastern states, are expected to have important effects on the electricity industry and on the market value of firms that own electricity generation assets. The economics literature finds large efficiency advantages for initial distribution of tradable emissions allowances through an auct...