This paper develops a theoretical model of corporate taxation in the presence of …nancially integrated multinational …rms. Under the assumption that multinational …rms at least partly use internal loans to …nance foreign investment, we …nd that the optimal corporate tax rate is positive from the perspective of a small, open economy. This …nding contrasts the standard result that the optimal sou...

Multivariate time series (MTS) data are widely available in di erent elds including medicine, nance, science and engineering. Modelling MTS data e ectively is important for many decision-making activities. In this paper, we will describe some of our e orts in modelling these data for numerous tasks such as outlier analysis, forecasting and explanation. Through the analysis of various kinds of M...

Aggregative games are used to model strategic interaction in many …elds of economics, including industrial organization, political economy, international trade, and public …nance. In such games, each player’s payo¤ depends on his/her own actions and an aggregate of all player’s actions. Examples in industrial organization are the Cournot oligopoly model, logit and CES di¤erentiated products Ber...

Improving the regulation of banks has been at the centre of economic policy actions since the outbreak of the global fi nancial crisis. One of the many and conceptually very diff erent measures proposed is to improve the corporate governance of banks by setting qualifi cation standards for banks’ non-executive directors. To explore the rationale of such a regulation implemented in Germany, we c...

A new species of Primulina , P. pingnanensis from the Guangxi Zhuangzu Autonomous Region, China, is described and illustrated here. It morphologically similar to orthandra but has significant differences in bracts, corolla tube lobes shape, as well indumentum outer surface corolla, filaments, staminodes anthers. Colorful photographs essential information this taxon are also provided, including ...

The results of a study the wound healing activity composition based on hydrogel polyhexamethylene guanidine hydrochloride and Bergenia crassifolia extract, under conditions modeling thermal burns in laboratory animals (rats), are presented. It was found that affects change summary antioxidant leukocyte towards normalization these indicators. Morphological analysis slices showed that, influence ...

suaeda iranshahrii akhani & freitag, previous specimens cited as s. maritima,is described as a new species of sect. brezia endemic to the coasts of the persian gulf; it is subdivided into the type variety distributed along the persian side and var. arabica freitag from the arabian shore. the new species is named in honour of dr. musa iranshahr, the eminent iranian botanist to whom this festschr...