Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), 2017 University of Colorado at Boulder
Global Climate Policywill Have Net Benefits Larger Than Anyone Thinks (And Welfare Gains, Strangely, Are Likely To Be Much Larger Yet), Philip E. Graves
PHILIP E GRAVES
Risk And Probability Premiums For Cara Utility Functions, 2017 Iowa State University
Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman
The risk premium and the probability premium are used to determine appropriate coefficients of absolute risk aversion under CARA utility. A defensible range of risk-aversion coefficients is defined by the coefficients that correspond to risk premiums falling between 1 and 99% of the amount at risk or to probability premiums falling between .005 and ,49 for a lottery that pays or loses a given sum. The consequences of ignoring risk premiums when selecting risk-aversion coefficients for representative decision makers are illustrated by calculation of the implied risk premium associated with the levels of absolute risk aversion assumed in six selected ...
Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, 2017 North Carolina State University
Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, William E. Foster, Bruce Babcock
We estimate the influence of policy-induced price changesand of technologysupply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.
Targeting Resource Conservation Expenditiures, 2017 Iowa State University
Targeting Resource Conservation Expenditiures, Junjie Wu, Richard M. Adams, David Zilberman, Bruce A. Babcock
Payments to landowners are a major vehicle to assure resource conservation and environmental protection. Examples of payment programs are listed in the sidebar, page. 34. Some of these programs (1, 2 and 3) compensate resource owners for changing resource uses while others (4, 5 and 6) involve the outright purchase of a resource. For example, the Conservation Reserve Program (CRP) has compensated landowners to retire 37 million acres of highly erodible cropland at a current annual cost of approximately $1.9 billion, and the Nature Conservancy has protected more than 11 million acres of environmentally valuable land in the United ...
Setting Up Living Trusts, 2017 Iowa State University
Setting Up Living Trusts, Neil E. Harl
Neil E. Harl
The recent enthusiasm for setting up revocable living trusts is supported by two pluses — (1) a way to assure flexibility in management for property in those later years when individuals may not be in a good position to manage their assets and (2) an opportunity for some simplification in estate settlement. However, several factors of a technical or practical nature should be taken into account before the decision is made to establish a revocable living trust.
Joint Tenancy Disclaimers: What Can Be Disclaimed?, 2017 Iowa State University
Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl
Neil E. Harl
For years the Internal Revenue Service resisted the disclaimer of joint tenancy interests on the grounds that the disclaimer had to occur within nine months of the creation of the joint tenancy. IRS eventually came to accept the disclaimer of revocable joint tenancies within nine months after death and even more recently indicated that the Service would not resist the disclaimer of joint tenancy interests in other than revocable joint tenancies where there was a predeath right to sever the joint interests The focus on when joint tenancies could be disclaimed obscured the question of what could be disclaimed.
Disclaiming The Survivorship Interest In Joint Tenancy Property, 2017 Iowa State University
Disclaiming The Survivorship Interest In Joint Tenancy Property, Neil E. Harl
Neil E. Harl
No abstract provided.
Capitalizing Preproductive Period Expenditures, 2017 Selected Works
Capitalizing Preproductive Period Expenditures, Neil Harl
Neil E. Harl
Few have forgotten the provision in the Tax Reform Act of 1986 requiring the capitalization of preproductive period expenditures for animals or crops having a preproductive period of more than two years. The provision was repealed as to animals in the Technical and Miscellaneous Revenue Act of 1988. However, problems may now be encountered by those who elected out of the provision before 1989.
Cash Accounting For Farm And Ranch Corporations, 2017 Iowa State University
Cash Accounting For Farm And Ranch Corporations, Neil E. Harl
Neil E. Harl
As a new taxpayer, a farm or ranch corporation may elect the cash or accrual methods of accounting if the corporate books are so kept and the method clearly reflects income. Indeed, IRS has ruled that a corporation may report on the cash method of accounting even though books are kept on the accrual method if the corporation maintains work papers reconciling accrual method book income to cash method taxable income. The method of accounting should be elected clearly on the initial corporate income tax return.
Funding Revocable Living Trusts, 2017 Iowa State University
Funding Revocable Living Trusts, Neil E. Harl
Neil E. Harl
Without much doubt, the transfer of assets to the trust is the most critical part of the formation of a revocable living trust. Inasmuch as all of the grantor's property should be conveyed to the trust, the obvious question is whether the transfer triggers adverse consequences to the grantor. In general, conveyance of property to a revocable inter vivos trust can be accomplished without negative consequences but the property inventory should be subjected to an itemby- item review before the actual transfer occurs. Here are the major points to consider.
Family Estate Trusts, 2017 Iowa State University
Family Estate Trusts, Neil E. Harl
Neil E. Harl
The recent attention to revocable living trusts has led to some confusion with a far less useful concept, the trust referred to variously as the "family estate" trust, "pure" trust, and "constitutional" trust. The latest version of these trusts, all of which are valued as substantially less than worthless, is the two-trust off-shore version or the foreign tax haven double trust. The trusts are mostly sold door-to-door through local contacts who tout the trusts as devices to solve all of one's estate-planning problems. The trusts are purportedly irrevocable, generally for a 25-year term.
Handling Commodity Futures Transactions, 2017 Iowa State University
Handling Commodity Futures Transactions, Neil E. Harl
Neil E. Harl
In the same manner as other merchants and manufacturers, farm and ranch taxpayers buy and sell commodity futures to hedge against fluctuating prices. Likewise, farm and ranch taxpayers buy and sell commodity futures as speculators. The principal matter of concern from an income tax perspective in the farm and ranch area is the line between hedging and speculation.
Growing Portland: Not Whether, But How, 2017 University of Southern Maine
Growing Portland: Not Whether, But How, Richard Barringer, Joseph Mcdonnell
Muskie School of Public Service
In the 400 years since European settlement, Portland has survived the ravages of war, invasion, pestilence, conflagration, and economic depression and recession. Once a renowned manufacturing, trade, and shipping center, it now enjoys what might be called a post-industrial renaissance as a vibrant center for the arts, education, entertainment, and banking, legal, and medical services; and is frequently cited as one of America’s best small cities. As a result, Portland is growing today and is positioned for more growth.
The question, then, is not whether Portland will grow, but how well it will grow; or, how best to manage ...
Medical Expenses Matter Most For The Poor, 2016 Universite Libre de Bruxelles
Medical Expenses Matter Most For The Poor, Quan-Hoang Vuong
Information, Competition, And The Quality Of Charities, 2016 Texas A & M University - College Station
Information, Competition, And The Quality Of Charities, Silvana Krasteva, Huseyin Yildirim
A General Framework For Price Regulation Of Airports, 2016 Singapore Management University
A General Framework For Price Regulation Of Airports, Sock Yong Phang
PHANG Sock Yong
Price cap regulation (PCR) was first implemented for privatized utilities in the UK in the 1980s. It has since been adopted by numerous countries as a regulatory regime in several sectors. This paper focuses on the development of different forms of price regulation of airports of which PCR is one variant. In countries where airport privatization is still in the early stages, the spectrum of airports and varied nature of regulatory regimes can be confusing and the lack of a general framework can itself become an obstacle to privatization. This paper proposes a general framework comprising decisions to be made ...
Hospital Closure And Hospital Choice: How Hospital Quality And Availability Will Affect Rural Residents, 2016 University of California, Berkeley
Hospital Closure And Hospital Choice: How Hospital Quality And Availability Will Affect Rural Residents, Deepak Premkumar, Dave Jones, Peter Orazem
Economics Working Papers
This study estimates a model of rural patient hospital choice between the nearest rural hospital, the nearest urban hospital, or the nearest research hospital. We present separate estimates for inpatient and outpatient visits, for different diagnoses, and for emergency and nonemergency admissions. The analyses illustrate the tradeoffs between hospital quality and distance in deciding whether to choose the nearest hospital or to travel farther for an alternative. The model parameters are used to simulate two hospital closing scenarios for both outpatient and inpatient data: 1) closing 25% of lowest quality rural hospitals and 2) closing 15% of the least used ...
Measuring The Impact Of 21st Century Community Learning Centers, 2016 Illinois State University
Measuring The Impact Of 21st Century Community Learning Centers, Melissa Johnston-Gross
Stevenson Center for Community and Economic Development
This paper investigates the relationship between student achievement and participation in before- and after- school academic enrichment programs funded by the 21st Century Community Learning Center (21CCLC) grant. The 21CCLC program is aimed at students in high-poverty, low-performing schools. I analyzed the first two cohorts awarded the program in school years 2002/2003 and 2003/2004 and compared them to public schools not funded by the program. Using difference-in-differences estimation, I found schools receiving the program experienced a higher percentage of students meeting or exceeding test standards: 1.332% higher in the first year and 2.055% in the second ...
Instability Of Government Revenue And Expenditure In Less Developed Countries, 2016 Technological and Higher Education Institute of Hong Kong, Vocational Training Council
Instability Of Government Revenue And Expenditure In Less Developed Countries, David Lim
Prof. David Lim
The governments of most less developed countries (LDCs) depend basically on their tax and non-tax revenues to finance their expenditure programmes. Unless countervailing action is taken, instability in government revenue will result in instability in government expenditure. The latter can add considerably to the complexity of fiscal management, which may then render ineffective development planning.1 It can also reduce business confidence and lead to the precautionary discounting of prospective investment returns and so a lowering of the investment level. This note does not attempt to verify the claim that expenditure instability has adverse effects on economic growth. Its aim ...
Government Recurrent Expenditure And Economic Growth In Less Developed Countries, 2016 Technological and Higher Education Institute of Hong Kong, Vocational Training Council
Government Recurrent Expenditure And Economic Growth In Less Developed Countries, David Lim
Prof. David Lim
There is not much support in less developed countries for the hypothesis that recurrent government expenditure is seen as consumption and hence more dispensable than capital expenditure. There is little evidence of a secular decline in recurrent expenditure for a group of 54 less developed countries over the period 1965–1973, nor is there strong evidence of greater instability in recurrent expenditure.