Results 1 - 10 of 713

Investor Protection and Equity Markets.

by Andrei Shleifer , Daniel Wolfenzon - Journal of Financial Economics , 2002
"... Abstract We present a simple model of an entrepreneur going public in an environment with poor legal protection of outside shareholders. The model incorporates elements of Becker's (J. Political Econ. 106 (1968) 172) ''crime and punishment'' framework into a corporate finan ..."
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finance environment of Jensen and Meckling (J. Financial Econ. 3 (1976) 305). We examine the entrepreneur's decision and the market equilibrium. The model is consistent with a number of empirical regularities concerning the relation between investor protection and corporate finance. It also sheds

The Limitations of Decentralized World Redistribution: An Optimal Taxation Approach

by Wojciech Kopczuk, Joel Slemrod* H, Shlomo Yitzhaki , 2003
"... A centralized scheme of world redistribution that maximizes a border-neutral social welfare function, subject to the disincentive effects it would create, generates a drastic reduction in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast, an optimal decentral ..."
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decentralized (i.e., with no cross-country transfers) redistribution has a miniscule effect on world income inequality. Thus, the traditional public finance concern about the excess burden of redistribution cannot explain why there is so little world redistribution. Actual foreign aid is vastly lower than

Why World Redistribution Fails

by Wojciech Kopczuk, Shlomo Yitzhaki , 2002
"... An optimal linear world income tax that maximizes a border-neutral social welfare function provides a drastic reduction in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast, an optimal decentralized (i.e., within countries) redistribution has a miniscule effe ..."
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effect on world income inequality. Thus, the traditional public finance concern about the excess burden of redistribution cannot explain why there is so little world redistribution. Actual foreign aid is vastly lower than the transfers under the simulated world income tax, suggesting that countries

including © notice, is given to the source. Why World Redistribution Fails

by Wojciech Kopczuk, Joel Slemrod, Shlomo Yitzhaki, Wojciech Kopczuk, Joel Slemrod, Shlomo Yitzhaki, Jel No. F, Joel Slemrod, Wojciech Kopczuk, Shlomo Yitzhaki , 2002
"... An optimal linear world income tax that maximizes a border-neutral social welfare function provides a drastic reduction in world consumption inequality, dropping the Gini coefficient from 0.69 to 0.25. In contrast, an optimal decentralized (i.e., within countries) redistribution has a miniscule effe ..."
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effect on world income inequality. Thus, the traditional public finance concern about the excess burden of redistribution cannot explain why there is so little world redistribution. Actual foreign aid is vastly lower than the transfers under the simulated world income tax, suggesting that countries

JUDGING THE SUSTAINABILITY OF CZECH PUBLIC FINANCES

by Acta Universitatis Carolinae, James M. Buchanan, Richard E. Wagner
"... The position of Czech public finances has been pronounced unsustainable by economists, while politicians claim more or less the opposite. Correct judgment is complicated by the purposeful use of arguments by the two groups in disagreement, by use of different methodology to collect the data and abov ..."
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The position of Czech public finances has been pronounced unsustainable by economists, while politicians claim more or less the opposite. Correct judgment is complicated by the purposeful use of arguments by the two groups in disagreement, by use of different methodology to collect the data

Perspectives on Public Finance 119 9 Comparative Perspectives on Public Finance

by Larry Schroeder
"... Decision makers in governments everywhere, from the poorest nations of the Third World to the major industrial powers and from small villages to large cities, face a variety of issues pertaining to public finance. Among the questions addressed are: (1) What and how many goods and services are to be ..."
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Decision makers in governments everywhere, from the poorest nations of the Third World to the major industrial powers and from small villages to large cities, face a variety of issues pertaining to public finance. Among the questions addressed are: (1) What and how many goods and services

Public Finance Statistics in the European Union (annual)

by New Series
"... All the supplements are available on the Bank of Italy’s site (www.bancaditalia.it). Requests for clarifications concerning data contained in this publication can be sent by e-mail to ..."
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All the supplements are available on the Bank of Italy’s site (www.bancaditalia.it). Requests for clarifications concerning data contained in this publication can be sent by e-mail to

Public Administration and Finance (UNPAN): www.unpan.org.

by Mr. Guido Bertucci , 2000
"... The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the ..."
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The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning

Public-nonprofit Partnership and North-South Green Finance

by Carrie A. Meyer - Journal of Environment and Development , 1997
"... Environmental nongovernmental organizations working in partnership with the public and for-profit sectors are increasingly recognized as key players in international environmental politics and finance. This article examines a specific NGO partnership, the National Environmental Fund (NEF), which rec ..."
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Environmental nongovernmental organizations working in partnership with the public and for-profit sectors are increasingly recognized as key players in international environmental politics and finance. This article examines a specific NGO partnership, the National Environmental Fund (NEF), which

Taxes and Transfers in Japan’s Local Public Finances

by Nobuki Mochida, Nobuki Mochida , 2001
"... A strong inter-regional equity bias has been a distinctive feature of the Japanese local public finance system. This paper shows that substantial equalization of revenues per capita is achieved via transfers from the central government and that, over time, this appears to have substantially improved ..."
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A strong inter-regional equity bias has been a distinctive feature of the Japanese local public finance system. This paper shows that substantial equalization of revenues per capita is achieved via transfers from the central government and that, over time, this appears to have substantially
Results 1 - 10 of 713