Technical and Allocative efficiency are relative concepts, first it is used conventionally, to know if a producer obtain the maximum level of production, according to the amount of inputs used in the process. The second looks for to know if the producer uses the optimal amounts of inputs in the...

The paper proposes a method to speed up the transition toward the notional contributions pension system in Italy. It seems the most appropriate manner to combine and pursue employment and financial sustainability goals. The method computes percentages for abating the old retributive pensions...

Among several factors that may explain why electricity in the Philippines is expensive compared to other ASEAN member states, this paper zeroes in on two: the value added tax (VAT) and red tape in obtaining generation business permits. Legislators have raised the timeliness of lifting just the...

The network approach to entrepreneurship has become a notable theoretical perspective within the literature. Networking activities enable gaining resources for new ventures in growth process while allowing growing firms to maintain their flexibilities. In this study, we investigate the effects...

This paper sets out: - a definition of the social cost of carbon, hitherto used in UK government appraisals to reflect the external costs of greenhouse gas emissions; - the rationale for adopting a shadow price of carbon (SPC) for use in policy and investment appraisals across UK government; and...

This paper examines the social opportunity cost of a hypothetical public project in Australia and compares these values with the cost of the project as measured by factor prices. Since 2001, the Australian taxation system has included an ad valorem tax, the Goods and Services Tax, however...

This paper examines the social opportunity cost of a hypothetical public project in Australia and compares these values with the cost of the project as measured by factor prices. Since 2001, the Australian taxation system has included an ad valorem tax, the Goods and Services Tax, however...

Half of the jobs in the U.S. feature pay-for-performance. We study nonlinear income taxation in a model where such labor contracts arise as a result of moral hazard frictions within firms. We derive novel formulas for the incidence of arbitrarily nonlinear reforms of a given tax code on both...

A large tax wedge can lead to a dramatic increase in economic efficiency. The market share of 'deadweight loss' produced by a tax wedge consists of inefficient producers and indifferent consumers. The high costs in resources involved in production of the relatively small quantity of 'deadweight...

We estimate the marginal excess burden of the GST and its components. Our results show that the GST is highly distortionary in its treatment of intermediate inputs and investment, but is efficient as applied to household consumption. We also estimate the general equilibrium effects of changes to...