Welfare Effects of Housing Transaction Taxes: A Quantitative Analysis with an Assignment Model

2021 ◽  
Author(s):  
Niku Määttänen ◽  
Marko Terviö
Keyword(s):  
Evaluation Studies ◽  
Welfare Effects ◽  
Metropolitan Region ◽  
Reduced Form ◽  
Tax Rate ◽  
Model Based ◽  
Assignment Model ◽  
Transaction Taxes ◽  
Transaction Tax ◽  
The Impact

Abstract We evaluate the welfare cost of housing transaction taxes with a new assignment model based framework, where welfare effects are driven by distortions in the matching of houses and households. We calibrate the model with data from the Helsinki metropolitan region to assess the impact of a reform where an ad valorem transaction tax is replaced with a revenue equivalent property tax. The aggregate welfare gain from this reform increases rapidly with the initial transaction tax rate, with the Laffer curve peaking at about 10%. The proportion of households that lose out from the reform is nevertheless increasing in the tax rate. We compare our model-based counterfactual aggregate welfare results with welfare calculations based on reduced-form estimates from previous policy evaluation studies; they are broadly in line, despite the latter using data from different housing markets at various levels and changes of the tax rate.

scholarly journals On the non-homogeneous effect of financial transaction taxes

2020 ◽  
Vol 9 (3) ◽  
pp. 230-239
Author(s):  
Patrick Thöni
Keyword(s):  
Financial Market ◽  
Benchmark Model ◽  
Benchmark Analysis ◽  
Financial Transaction ◽  
Market Depth ◽  
Bid Ask Spread ◽  
Non Linear ◽  
Transaction Taxes ◽  
Transaction Tax ◽  
The Impact

This paper investigates the impact of a financial transaction tax (FTT) in a classic financial market setting. The benchmark analysis is based on an extension of the model presented in Kyle (1985). Opposed to the existing literature, I am able to find equilibrium values with a linear tax. Results of the benchmark model confirm standard findings of FTTs, such as an increased bid–ask spread and an overall less deep market. Importantly, I find that the introduction of a tax leads to a non–linear pricing function. In turn, the model predicts a decrease in market depth and trading aggressiveness for small trades, whereas for larger trades the introduction of an FTT only leads to increased prices and spreads.

The Effect of Taxation and Corruption on Firm Growth: An Empirical Investigation for Vietnam

2016 ◽  
pp. 5-29
Author(s):  
Bich Le Thi Ngoc
Keyword(s):  
International Development ◽  
Firm Growth ◽  
Empirical Investigation ◽  
Manufacturing Firms ◽  
Economic Management ◽  
Tax Rate ◽  
Percentage Point Increase ◽  
Percentage Points ◽  
Point Increase ◽  
The Impact

The aim of this study is to analyze empirically the impact of taxation and corruption on the growth of manufacturing firms in Vietnam. The study employed pooled OLS estimation and then instrument variables with fixed effect for the panel data of 1377 firms in Vietnam from 2005 to 2011. These data were obtained from the survey of the Central Institute for Economic Management and the Danish International Development Agency. The results show that both taxation and corruption are negatively associated with firm growth measured by firm sales adjusted according to the GDP deflator. A one-percentage point increase in the bribery rate is linked with a reduction of 16,883 percentage points in firm revenue, over four and a half times bigger than the effect of a one-percentage point increase in the tax rate. From the findings of this research, the author recommends the Vietnam government to lessen taxation on firms and that there should be an urgent revolution in anti-corruption policies as well as bureaucratic improvement in Vietnam.

Exploring Subbordia – the impact of suburbanisation in cross-border metropolitan regions. The case study of Szczecin and its German hinterland

2018 ◽  
Vol 60 (1) ◽  
pp. 5-13 ◽  
Author(s):  
Martin Barthel ◽  
Ewelina Barthel
Keyword(s):  
Border Region ◽  
Metropolitan Region ◽  
Metropolitan Regions ◽  
Grass Roots ◽  
Planning Support ◽  
Cross Border ◽  
Connected Area ◽  
The Impact ◽  
Local Narratives

Abstract This paper focuses on the largely unexamined phenomenon of the developing trans-national suburban area west of Szczecin. Sadly the local communities in this functionally connected area struggle with national planning policies that are unsuitable for the region. The paper examines the impact of those processes on the border region in general and on the localities in particular. The paper investigates the consequences for local narratives and the cohesive development of the Euroregion and what position Polish and German communities took to develop the region, even without the necessary planning support. The region has succeeded in establishing grass-roots planning mechanisms which have helped to create a metropolitan-region working from the bottom up.

Financial and monetary policy of the State and its impact on the income level and poverty reduction in Russia

2020 ◽  
Vol 26 (5) ◽  
pp. 964-990
Author(s):  
N.I. Kulikov ◽  
V.L. Parkhomenko ◽  
Akun Anna Stefani Rozi Mobio
Keyword(s):  
Monetary Policy ◽  
Household Income ◽  
Poverty Reduction ◽  
The State ◽  
Financial Policy ◽  
Gdp Growth ◽  
Tax Rate ◽  
Gdp Growth Rate ◽  
The Government ◽  
The Impact

Subject. We assess the impact of tight financial and monetary policy of the government of the Russian Federation and the Bank of Russia on the level of household income and poverty reduction in Russia. Objectives. The purpose of the study is to analyze the results of financial and monetary policy in Russia and determine why the situation with household income and poverty has not changed for the recent six years, and the GDP growth rate in Russia is significantly lagging behind the global average. Methods. The study employs methods of analysis of scientific and information base, and synthesis of obtained data. The methodology and theoretical framework draw upon works of domestic and foreign scientists on economic and financial support to economy and population’s income. Results. We offer measures for liberalization of the financial and monetary policy of the government and the Central Bank to ensure changes in the structure of the Russian economy. The proposed alternative economic and financial policy of the State will enable the growth of real incomes of the population, poverty reduction by half by 2024, and annual GDP growth up to 6 per cent. Conclusions. It is crucial to change budget priorities, increase the salaries of public employees, introduce a progressive tax rate for individuals; to reduce the key rate to the value of annual inflation and limit the bank margin. The country needs a phased program to increase the population's income, which will ensure consumer demand.

scholarly journals A Model-Based Tool for Assessing the Impact of Land Use Change Scenarios on Flood Risk in Small-Scale River Systems—Part 1: Pre-Processing of Scenario Based Flood Characteristics for the Current State of Land Use

Hydrology ◽  
2021 ◽  
Vol 8 (3) ◽  
pp. 102
Author(s):  
Frauke Kachholz ◽  
Jens Tränckner
Keyword(s):  
Land Use ◽  
River Flow ◽  
Land Use Changes ◽  
Small Rivers ◽  
Small Scale ◽  
Model Parameters ◽  
Ungauged Catchments ◽  
Model Based ◽  
Current State ◽  
The Impact

Land use changes influence the water balance and often increase surface runoff. The resulting impacts on river flow, water level, and flood should be identified beforehand in the phase of spatial planning. In two consecutive papers, we develop a model-based decision support system for quantifying the hydrological and stream hydraulic impacts of land use changes. Part 1 presents the semi-automatic set-up of physically based hydrological and hydraulic models on the basis of geodata analysis for the current state. Appropriate hydrological model parameters for ungauged catchments are derived by a transfer from a calibrated model. In the regarded lowland river basins, parameters of surface and groundwater inflow turned out to be particularly important. While the calibration delivers very good to good model results for flow (Evol =2.4%, R = 0.84, NSE = 0.84), the model performance is good to satisfactory (Evol = −9.6%, R = 0.88, NSE = 0.59) in a different river system parametrized with the transfer procedure. After transferring the concept to a larger area with various small rivers, the current state is analyzed by running simulations based on statistical rainfall scenarios. Results include watercourse section-specific capacities and excess volumes in case of flooding. The developed approach can relatively quickly generate physically reliable and spatially high-resolution results. Part 2 builds on the data generated in part 1 and presents the subsequent approach to assess hydrologic/hydrodynamic impacts of potential land use changes.

scholarly journals A Reference Framework to Combine Model-Based Design and AR to Improve Social Sustainability

2021 ◽  
Vol 13 (4) ◽  
pp. 2031
Author(s):  
Fabio Grandi ◽  
Riccardo Karim Khamaisi ◽  
Margherita Peruzzini ◽  
Roberto Raffaeli ◽  
Marcello Pellicciari
Keyword(s):  
Positive Impact ◽  
Cost Effective ◽  
Digital Models ◽  
Model Based ◽  
Digital Contents ◽  
Recent Developments ◽  
Virtual Simulations ◽  
Product And Process ◽  
The Impact ◽  
Time Information

Product and process digitalization is pervading numerous areas in the industry to improve quality and reduce costs. In particular, digital models enable virtual simulations to predict product and process performances, as well as to generate digital contents to improve the general workflow. Digital models can also contain additional contents (e.g., model-based design (MBD)) to provide online and on-time information about process operations and management, as well as to support operator activities. The recent developments in augmented reality (AR) offer new specific interfaces to promote the great diffusion of digital contents into industrial processes, thanks to flexible and robust applications, as well as cost-effective devices. However, the impact of AR applications on sustainability is still poorly explored in research. In this direction, this paper proposed an innovative approach to exploit MBD and introduce AR interfaces in the industry to support human intensive processes. Indeed, in those processes, the human contribution is still crucial to guaranteeing the expected product quality (e.g., quality inspection). The paper also analyzed how this new concept can benefit sustainability and define a set of metrics to assess the positive impact on sustainability, focusing on social aspects.

scholarly journals Model-Based Control of Torque and Nitrogen Oxide Emissions in a Euro VI 3.0 L Diesel Engine through Rapid Prototyping

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1107
Author(s):  
Stefano d’Ambrosio ◽  
Roberto Finesso ◽  
Gilles Hardy ◽  
Andrea Manelli ◽  
Alessandro Mancarella ◽  
...  
Keyword(s):  
Diesel Engine ◽  
Rapid Prototyping ◽  
Nitrogen Oxide ◽  
Thermal State ◽  
Pollutant Emissions ◽  
Computational Time ◽  
Nox Emissions ◽  
Model Based ◽  
Brake Mean Effective Pressure ◽  
The Impact

In the present paper, a model-based controller of engine torque and engine-out Nitrogen oxide (NOx) emissions, which was previously developed and tested by means of offline simulations, has been validated on a FPT F1C 3.0 L diesel engine by means of rapid prototyping. With reference to the previous version, a new NOx model has been implemented to improve robustness in terms of NOx prediction. The experimental tests have confirmed the basic functionality of the controller in transient conditions, over different load ramps at fixed engine speeds, over which the average RMSE (Root Mean Square Error) values for the control of NOx emissions were of the order of 55–90 ppm, while the average RMSE values for the control of brake mean effective pressure (BMEP) were of the order of 0.25–0.39 bar. However, the test results also highlighted the need for further improvements, especially concerning the effect of the engine thermal state on the NOx emissions in transient operation. Moreover, several aspects, such as the check of the computational time, the impact of the controller on other pollutant emissions, or on the long-term engine operations, will have to be evaluated in future studies in view of the controller implementation on the engine control unit.

Impact of ETF Listing on the Returns Generated by Underlying Stocks: Indian Evidence

2021 ◽  
pp. 0258042X2199101
Author(s):  
Prabhdeep Kaur ◽  
Jaspal Singh
Keyword(s):  
Event Study ◽  
Abnormal Returns ◽  
Price Impact ◽  
Exchange Traded Funds ◽  
Study Analysis ◽  
Jel Codes ◽  
Securities Transaction Tax ◽  
Underlying Stocks ◽  
Transaction Tax ◽  
The Impact

The advent of exchange traded funds (ETFs) has rendered index trading much affordable compared to their futures counterparts. The present study attempts to examine the impact of ETF listing on the price of the constituent securities of the index that it aims to track. The sample comprises of all the equity ETFs listed in India from 1 January 2002 to 31 March 2019. Event study analysis has been used to examine whether listing of ETFs bore any price impact on the constituent stocks of ETFs. To account for robustness, both parametric and non-parametric tests have been employed. The estimates obtained from event study analysis revealed that the constituent stocks generated insignificant returns for the period extending from January 2002 to March 2009 and April 2009 to March 2013 but positive and significant cumulative average abnormal returns (CAARs) post ETF listing for the period ranging from April 2013 to March 2019, thus providing evidence in support of positive price impact. The permission granted to pension funds, insurers and Employees’ Provident Fund Organisation (EPFO) to invest their funds in ETFs as well as reduction in Securities Transaction Tax (STT) account for the observed price differential. An analysis of the factors accounting for the variation in valuation effects ascertained that the stocks that were traded thinly prior to ETF listing and those forming part of ETFs with larger asset base experienced positive price impact following ETF listing. JEL Codes: G11, G14

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