An important step in farm planning is the development of a gross margin budget. A gross margin is calculated from a crop's gross income less the variable costs incurred in growing and marketing that crop. The gross margin indicates the potential financial gain or loss of the crop being produced. Gross margins are usually expressed in units related to resources such as land, labour or irrigation...

We argue that mutual fund investors are more sensitive to salient in-your-face fees, like loads and commissions, than operating expenses. Our empirical analysis of mutual fund flows over the last 30 years yields strong support for our contention. We find consistently negative relations between fund flows and load fees. We also document a negative relation between fund flows and commissions char...

Why do brokers charge per share commissions to institutional traders? What determines the commission charge? The choice of per share commissions as a payment method is puzzling, as commissions are not the most natural way to charge for order execution because costs are not proportional to the trade size and commissions are supposed to deter trading. We contend that commissions, rather than repr...

To examine how local income distribution affects both a community’s ability to pay for schooling and the quality of that schooling, this research merges household and school census data from South Africa. Empirical results are twofold. First, while the median income and the average household income increase school fees, inequality in household income (standard deviation) decreases school fees, ...

Citizenship endows legal protections and is associated with economic and social gains for immigrants and their communities. In the United States, however, naturalization rates are relatively low. Yet we lack reliable knowledge as to what constrains immigrants from applying. Drawing on data from a public/private naturalization program in New York, this research provides a randomized controlled s...

This note outlines the results of the annual survey of the fee income of Australian banks for 2000. This survey covers the fees that banks earn in the process of taking deposits, making loans and providing payment services to households and businesses within Australia. Results from the survey were first published in the Reserve Bank Bulletin in June 1999. The main findings of the survey are tha...

This paper studies a general equilibrium model suitable to compare the organisation of the university sector under private provision with the structure which would be chosen by a welfare maximising government. To attend university, and earn higher incomes in the labour market, students pay a tuition fee, and each university chooses its tuition fee to maximise the amount of resources that can be...

53 Abstract Policymakers are beginning to appreciate the efficiency properties of pollution taxes, but concerns over equity remain. In this paper, we assess the distributional aspects of three types of emissions fees for vehicles—a fee based on total annual emissions; a fee based on emissions rates, in grams per mile; and a fee based on annual vehicle mileage—and we compare the impacts of fees ...