PREANNOUNCED OPTIMAL TAX REFORM

2005 ◽  
Vol 9 (2) ◽  
pp. 150-169 ◽  
Author(s):  
DAVID DOMEIJ ◽  
PAUL KLEIN
Keyword(s):  
Steady State ◽  
Fiscal Policy ◽  
Tax Reform ◽  
The Other ◽  
Welfare Gain ◽  
Welfare Gains ◽  
Optimal Tax ◽  
Other Hand ◽  
Optimal Fiscal Policy ◽  
Implementation Lag

In constitutional democracies, laws take time to be deliberated upon, to be passed, and to be implemented. Motivated by this observation, we study the properties of optimal tax reform when it has to be announced in advance of its implementation. We find that a delay between announcement and implementation has large effects on the optimal fiscal policy during the transition to the new steady state. On the other hand, we find that the welfare gains from optimal tax reform are fairly robust to the introduction of an implementation lag. Increasing the lag from zero to four years reduces the welfare gains by less than a quarter. Moreover, it turns out that this reduction of the welfare gain is mainly due to the delay itself rather than the effect of preannouncement on the character of the optimal tax reform.

TRANSMITTING BIPARTITE AND MULTIPARTITE CORRELATIONS VIA SPIN CHAINS UNDER PHASE DECOHERENCE

2012 ◽  
Vol 10 (06) ◽  
pp. 1250073
Author(s):  
JIAN-FENG AI ◽  
JIAN-SONG ZHANG ◽  
AI-XI CHEN
Keyword(s):  
Steady State ◽  
Anisotropy Parameter ◽  
Quantum Correlations ◽  
Spin Chains ◽  
The Other ◽  
Bipartite Entanglement ◽  
Other Hand ◽  
Long Time ◽  
Phase Decoherence ◽  
The One

We investigate the transfer of bipartite (measured by cocurrence) and multipartite (measured by global discord) quantum correlations though spin chains under phase decoherence. The influence of phase decoherence and anisotropy parameter upon quantum correlations transfer is investigated. On the one hand, in the case of no phase decoherence, there is no steady state quantum correlations between spins. On the other hand, if the phase decoherence is larger than zero, the bipartite quantum correlations can be transferred through a Heisenberg XXX chain for a long time and there is steady state bipartite entanglement. For a Heisenberg XX chain, bipartite entanglement between two spins is destroyed completely after a long time. Multipartite quantum correlations of all spins are more robust than bipartite quantum correlations. Thus, one can store multipartite quantum correlations in spin chains for a long time under phase decoherence.

Tax Reform in South Asia: Yesterday and Today

1989 ◽  
Vol 23 (4) ◽  
pp. 797-813
Author(s):  
John Toye
Keyword(s):  
Economic Analysis ◽  
South Asia ◽  
Tax Reform ◽  
Educational Experience ◽  
The Other ◽  
Progressive Taxation ◽  
Other Hand ◽  
Mixed Feelings ◽  
The Subject ◽  
The One

The subject of this paper is the fate of progressive taxation in South Asia. This is a subject about which Kingsley Martin himself would have had mixed feelings. On the one hand, he strongly advocated a redistributive fiscal strategy. On the other hand, he was never at all comfortable examining the kind of economic analysis with which it is usually justified. Somewhat unfairly, he distrusted all orthodox economists on moral grounds (Martin, 1966: 34). Moreover, his prolonged encounter with the unorthodox economics of Maynard Keynes was equally unsatisfactory as an educational experience. Lord Boothby summed up Martin's efforts to learn the technicalities of economics from Keynes as follows: ‘Kingsley simply never understood economics and yet he was always trying to understand. “Explain it to me, then” he would say, but his attention soon wandered’ (Rolph, 1973: 195).

OPTIMAL FISCAL POLICY WITH LAND FINANCING IN CHINA

2017 ◽  
Vol 23 (07) ◽  
pp. 2649-2674
Author(s):  
Shen Guo ◽  
Zheng Jiang
Keyword(s):  
Fiscal Policy ◽  
Value Added ◽  
Substantial Part ◽  
Welfare Gains ◽  
Ramsey Problem ◽  
Tax Rate ◽  
Special Instrument ◽  
Optimal Fiscal Policy ◽  
Conventional Instrument ◽  
The Government

This paper examines China's optimal fiscal policy in a general equilibrium model, in which the government finances its budget through both a special instrument, an implicit tax on the residential land, and a typical conventional instrument, the value-added tax (VAT). By solving a Ramsey problem, we find that (i) the optimal policy suggests a much lower land tax rate than the existing rate in China, and (ii) a substantial part of debt stabilization should come through an adjustment in the VAT rate, instead of relying on land financing. Switching from the existing policy to the Ramsey policy generates significant welfare gains.

scholarly journals A note on dynamical compensation and its relation to parameter identifiability

2017 ◽  
Author(s):  
Omer Karin ◽  
Uri Alon ◽  
Eduardo Sontag
Keyword(s):  
Experimental Data ◽  
Steady State ◽  
The Other ◽  
Apparent Discrepancy ◽  
Parameter Identifiability ◽  
Other Hand ◽  
The Face ◽  
System Variables

AbstractWe recently identified a motif for dynamical compensation (DC) – a property where a system maintains the dynamics and steady-state of a regulated variable robust in the face of fluctuations in key parameters. Such parameters are therefore unidentifiable from measurements of the regulated variable at steady-state. On the other hand, since the models showing dynamical compensation are typically non-redundant, their parameters are identifiable from experimental data. We clarify this apparent discrepancy by requiring that the parameters of DC circuits be identifiable both away from steady-state and when measuring other system variables. We use this observation to provide a definition for DC in terms of parameter identifiability and discuss its relevance for the examples provided in Karin et al.

P6303Developmental origin of cardiac macrophages in steady state and myocardial infarction

2019 ◽  
Vol 40 (Supplement_1) ◽  
Author(s):  
T Weinberger ◽  
R Thaler ◽  
V Schneider ◽  
D Messerer ◽  
S Massberg ◽  
...  
Keyword(s):  
Myocardial Infarction ◽  
Bone Marrow ◽  
Steady State ◽  
Acute Phase ◽  
Cardiac Remodeling ◽  
The Other ◽  
Bone Marrow Chimera ◽  
Resident Macrophage ◽  
Developmental Origin ◽  
Other Hand

Abstract Background Macrophages are the most abundant immune cells in the myocardial tissue in steady state. The sterile inflammation caused by myocardial infarction triggers a massive immune reaction, which leads to a profound influx of neutrophils and monocytes. In the postacute phase of infarction macrophages play an essential role in reparative processes. Recently, it has become clear that macrophages in the heart have a dual developmental origin from embryonic and bone marrow (BM) hematopoiesis. In this study, we sought to investigate the contribution of embryonic derived macrophages to the cardiac macrophage pool in steady state as well as the acute and chronic phase after ischemia/reperfusion injury. Methods/Results To address the origin of macrophages in steady state we used different models of lineage tracing to determine the developmental origin of cardiac macrophages. Using FLT3-Cre mice and radiation-independent CD45.1/.2 bone marrow chimera, we found that the resident macrophage population in the heart is mainly independent of definitive hematopoiesis (approximately 70–80% of cardiac macrophages). The BM-dependent population on the other hand is replenished by blood-derived monocytes. Further we used the radiation-independent CD45.1/.2 bone marrow chimera to characterize the origin of macrophages at different time points after I/R-injury. In the acute phase after myocardial infarction we observed a profound influx of BM-derived macrophages in the infarct region and also in the remote area. 30 days after I/R-injury the composition of the resident macrophage pool was mainly comprised of BM-independent macrophages, similar to steady state conditions. To address the role of BM-derived macrophages we used CCR2-ko mice, which have low numbers of inflammatory monocytes in peripheral blood. CCR2-ko mice showed reduced macrophage numbers in the acute phase after myocardial infarction. Using positron emission tomography we investigated the influence of CCR2-deficiency on cardiac function after I/R-injury. In comparison to WT mice, CCR2-ko mice showed a significantly increased infarct size. Cardiac remodeling, determined by end-diastolic volume, on the other hand was improved in CCR2-ko mice. The ejection fraction was similar in both groups. Conclusion The cardiac macrophage pool is mainly comprised of BM-independent macrophages. In response to I/R-injury monocyte-derived macrophages transiently enter the myocardium but do not persist in significant numbers over time. The influx of BM-derived macrophages after I/R-injury was reduced using CCR2-ko mice, which led to improved cardiac remodeling. Our findings are of potential importance for understanding the cardiac immune response and for the therapeutic targeting of macrophages in inflammatory conditions. Acknowledgement/Funding German Society of Cardiology, German Centre for Cardiovascular Research, LMU Excellence, SFB 914

Fiscal Policy and Growth

2004 ◽  
pp. 145-148
Author(s):  
Alejandro F. Mercado
Keyword(s):  
Fiscal Policy ◽  
Financial System ◽  
The Other ◽  
Animal Spirits ◽  
Other Hand ◽  
Interest Payments

The households have gone crazy, they have decided to give less food to their children, to restrict their essential expenses to a minimum, to buy less clothes and not to pay the school fees and tuition for their children, all of this with the sole objective of saving money. Some households save their money in the financial system, but most accumulate it in their houses, under their mattress. The madness also touches investors, their animal spirits have disappeared and they have reduced their investments, because, strangely, they no longer like to obtain earnings. The bankers, on the other hand, no longer lend money; they maintain the deposits of their clients in vaults and prefer to lose interest payments instead of lending money and increasing profits.

Is it Possible to Avoid the St Augustine Syndrome of Fiscal Procrastination?

2017 ◽  
Author(s):  
Eric Parrado
Keyword(s):  
Fiscal Policy ◽  
The Other ◽  
Policy Rule ◽  
Sovereign Wealth Funds ◽  
Good Management ◽  
Stage Of Development ◽  
Other Hand ◽  
Fiscal Expenditure ◽  
The One ◽  
Rainy Days

Chile has managed to avoid the St Augustine Syndrome of fiscal procrastination. This has required the prudent management of both fiscal flows and stocks. On the one hand, a fiscal policy rule has permitted Chile to save in sunny good times and to spend extraordinary resources on rainy days. The stabilizing fiscal policy rule has been key to smooth fiscal expenditure and avoiding the economic sins present in several countries: those of deficit bias and procyclicality. On the other hand, the management of fiscal stocks through its sovereign wealth funds (SWFs) has transformed Chile into an international example of transparency, good management, and responsibility. This sounds easy but it requires both political courage and economic responsibility. Several lessons could be learned from this which would be useful for other countries in any stage of development.

Influence of the location of production wells in unconfined groundwater basins: an analysis by numerical simulation

1990 ◽  
Vol 27 (5) ◽  
pp. 657-668 ◽  
Author(s):  
Duke Ophori ◽  
József Tóth
Keyword(s):  
Numerical Simulation ◽  
Steady State ◽  
Groundwater Resources ◽  
The Other ◽  
Recharge Area ◽  
Development Potential ◽  
Discharge Area ◽  
Other Hand ◽  
Well Yield ◽  
Production Wells

Development potential of groundwater resources under continuous production is calculated by numerical simulation for models of unit basins for the plains regions of Alberta, Canada, in order to analyze the relations between the location of water wells on the one hand, and well yield and basin stability, on the other. These relations are expressed in terms of two basin hydrologic parameters, namely the transitional basin yield (TBY) and the sustainable basin yield (SBY). TBY is the net cumulative inflow of water into the system, induced by and during development at a particular site, from an initial to a final steady-state condition. SBY, on the other hand, is the amount of water captured from precipitation due to production at a particular site under the newly established steady-state conditions. TBY is highest for well locations in the discharge area and decreases gradually as the sites are moved toward the recharge area. This is so because more of the naturally discharging, and thus otherwise lost, water is captured by wells located in discharge areas than by wells in recharge areas. On the other hand, SBY is greater if the wells are located in recharge areas than if they are in the discharge areas because an increasing percentage of precipitation is converted to infiltration by production wells as their locations are moved upslope in the basin. From a regional hydrological viewpoint, these are key relations in optimizing the development potential of the groundwater resources in extensive unconfined basins. Precipitation rate, simulated as maximum potential infiltration rate, is assumed to be constant over time. It is shown also that under conditions of restricted rainfall, a recharge-area development results in unstable basin-hydrological conditions sooner than when development takes place in the discharge area. Regional groundwater exploitation should, therefore, be initiated in discharge areas and moved towards recharge regions gradually, and only for compelling reasons. Factors such as precipitation rates and positions of aquifers within a basin affect TBY and SBY to various degrees, thereby influencing the optimal location of well sites in the basin.

A Study of the Development of an Analytical Wall Function for LES

2014 ◽  
Author(s):  
R. S. Amano ◽  
Takahiko Hasegawa ◽  
Shaohua Shen
Keyword(s):  
Boundary Layer ◽  
Steady State ◽  
Cfd Simulation ◽  
The Other ◽  
Unsteady State ◽  
Wall Function ◽  
Other Hand ◽  
Log Law ◽  
Complicated Geometry ◽  
Steady State Simulation

In order to invent a new near-wall treatment for turbulence in Computational Fluid Dynamics (CFD) simulation, an Analytical Wall Function (AWF) has been studied and shown that it is possible to work accurately with Reynolds Averaged Navier-Stokes (RANS) Simulation even for complicated geometry such as impinging jet flow or separation and reattachment flow. One of the most common wall functions is the Standard Wall Function (SWF) which assumes log-law inside the boundary layer. However, there is a problem that SWF has been used for industrial applications even though it is difficult to analyze the turbulence phenomenon in a complicated geometry accurately because log-law is not applicable in that geometry. On the other hand, since AWF derives the boundary condition on the wall by integrating analytically the boundary layer equation in wall adjacent cells, it can analyze the turbulence accurately even in complicated geometry. AWF has an advantage over SWF from this point of view. In this study, AWF was improved and optimized for Large Eddy Simulation (LES) by changing the way of modeling of eddy viscosity inside the boundary layer for steady state simulation to that for unsteady state simulation. This is because RANS is a steady state simulation; on the other hand, LES is unsteady state simulation, which is one of the largest differences between them. The accuracy of the new AWF for LES (LES-AWF) was validated by both of experimental results and CFD simulation results. Both of the experiment and CFD simulation are conducted in the wind tunnel.

scholarly journals Control of electron transfer in the cytochrome system of mitochondria by pH, transmembrane pH gradient and electrical potential. The cytochromes b-c segment

1981 ◽  
Vol 194 (2) ◽  
pp. 395-406 ◽  
Author(s):  
S Papa ◽  
M Lorusso ◽  
G Izzo ◽  
F Capuano
Keyword(s):  
Steady State ◽  
Electron Flow ◽  
Ph Dependence ◽  
Electrical Potential ◽  
The Other ◽  
Ph Gradient ◽  
Preferential Oxidation ◽  
Submitochondrial Particles ◽  
Cytochrome B562 ◽  
Other Hand

1. A study is presented of the effects of pH, transmembrane pH gradient and electrical potential on oxidoreductions of b and c cytochromes in ox heart mitochondria and ‘inside-out’ submitochondrial particles. 2. Kinetic analysis shows that, in mitochondria at neutral pH, there is a restraint on the aerobic oxidation of cytochrome b566 with respect to cytochrome b562. Valinomycin plus K+ accelerates cytochrome b566 oxidation and retards net oxidation of cytochrome b562. At alkaline pH the rate of cytochrome b566 oxidation approaches that of cytochrome b562 and the effects of valinomycin on b cytochromes are impaired. 3. At slightly acidic pH, oxygenation of antimycin-supplemented mitochondria causes rapid reduction of cytochrome b566 and small delayed reduction of cytochrome b562. Valinomycin or a pH increase in the medium promote reduction of cytochrome b562 and decrease net reduction of cytochrome b566. 4. Addition of valinomycin to mitochondria and submitochondrial particles in the respiring steady state causes, at pH values around neutrality, preferential oxidation of cytochrome b566 with respect to cytochrome b562. The differential effect of valinomycin on oxidation of cytochromes b566 and b562 is enhanced by substitution of 1H2O of the medium with 2H2O and tends to disappear as the pH of the medium is raised to alkaline values. 5. Nigericin addition in the aerobic steady state causes, both in mitochondria and submitochondrial particles, preferential oxidation of cytochrome b562 with respect to cytochrome b566. This is accompanied by c cytochrome oxidation in mitochondria but c cytochrome reduction in submitochondrial particles. 6. In mitochondria as well as in submitochondrial particles, the aerobic transmembrane potential (delta psi) does not change by raising the pH of the external medium from neutrality to alkalinity. The transmembrane pH gradient (delta pH) on the other hand, decrease slightly. 7. The results presented provide evidence that the delta psi component of the aerobic delta microH+ (the sum of the proton chemical and electrical activities) exerts a pH-dependent constraint on forward electron flow from cytochrome b566 to cytochrome b562. This effect is explained as a consequence of anisotropic location of cytochromes b566 and b562 in the membrane and the pH-dependence of the redox function of these cytochromes. Transmembrane delta pH, on the other hand, exerts control on electron flow from cytochrome b562 to c cytochromes.

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