Using the properties of integrated and cointegrated economic time series, this paper derives an error correction model (ECM) of money demand from a dynamic optimization problem. A general form of the ECM is estimated for Canadian M2 and M2+ over the period 1968:I to 1989:IV. The ECM appears to...

A Power Purchase Agreement (PPA) is at the heart of any BOT or BOO type power generation project that is to be undertaken by an Independent Power Producer (IPP). During the past decade privately owned IPPs selling electricity to the power industry has become common place. Such arrangements...

In this paper, the tax and regulatory system applicable to petroleum production in Canada is modeled so that an estimate can be made of its impact on private investor’s evaluation of petroleum resources located in that country. This analysis is made from both the point of view of an investor...

Of the various types of financing instruments generally used because of the particular tax treatment they receive two of the more popular are limited partnerships and flow-through shares. This article attempts to evaluate their efficiency- that is, to determine the present value of tax revenues...

This paper investigates the reaction of interest rates to changes in domestic and foreign monetary policies during periods of fixed and flexible exchange rates. In the empirical sections of this study we analyze the relationship between Canadian interest rates and some of their important...

The growth of value-added taxation from its first adoption in France in 1954 to its present implementation by more than 60countries is unprecedented by any other concept in taxation. While 80 nations use some form of a VAT, over 40 nations have implemented a comprehensive VAT. Its acceptance by...

Vietnam is an Asian country with a population of about 70million and annual per capita income of US $190-200. Despite its current status as one of the poorest countries in the world, it has tremendous potential for growth because of its abundant natural resources and an excellent human resource...

In order to alleviate part of this double taxation of distributed profits the classical system was replaced in 1973 by the "imputation system". This new system of taxation gives shareholders tax credits for tax paid by the corporation. These tax credits may be used by shareholders to offset...

The 1986 tax reform in Bolivia was one of the most radical effective changes of tax policies that any country has undertaken in modern times. After the reform the country was left with a uniform rate of tariff, a uniform value added tax, a set of taxes to complement the vat, a set of excise...