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
Farm Organizations And Farm Profits In Tama County, Iowa, 2017 Iowa State College
Farm Organizations And Farm Profits In Tama County, Iowa, Clifford C. Taylor, Edgar B. Hurd
Research Bulletin (Iowa Agriculture and Home Economics Experiment Station)
To learn in detail how farmers in Tama County, Iowa, have combined the elements of their businesses into going concerns, and the financial results which have attended their attempt to secure the most profitably organized farm, is the purpose of this study. It seeks not only to learn the" anatomy" or organization, but also, as far as possible, the" physiology", or operation, of the farming business as found in this area. It compares the organization of these farms in 1921 with that in 1918 and in 1913. These three years, for which data have been secured, represent pre-war conditions, war-time ...
Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, 2017 Southern New Hampshire University
Modelling Public-Education Spending Vs. Allocation As Independent Factors Of Educational Outcomes, Kevin Tasley
Undergraduate Economic Review
This paper explores and expands upon the work of Hanushek and Wößmann (2007) whose accumulated findings propose increased educational spending provides only marginal returns in terms of student’s cognitive outcomes. This study constructs an OLS regression model to explore the significance of U.S. state education spending and financial allocations as independent factors of state-level average ACT scores over a 10-year time series. The model additionally accounts for self-selection and socio-economic status. The results of this study support Hanushek and Wößmann’s conclusions while also demonstrating evidence that shifts in allocations towards instructional spending, as opposed to increasing total ...
Public Finance In A Nutshell: A Cobb Douglas Teaching Tool For General Equilibrium Tax Incidence And Excess Burden, 2017 University of Illinois at Urbana-Champaign
Public Finance In A Nutshell: A Cobb Douglas Teaching Tool For General Equilibrium Tax Incidence And Excess Burden, Don Fullerton, Chi L. Ta
Incomplete Takings, 2017 University of San Diego
Incomplete Takings, Abraham Bell, Gideon Parchomovsky
Incomplete takings are vital and extremely common. Yet, they present unique challenges that cannot be resolved by standard rules of eminent domain. In particular, incomplete, or partial, takings may result in the creation of suboptimal parcels, and even unusable and unmarketable ones. Additionally, partial takings create nettlesome assessment problems that do not arise when parcels are taken as a whole. Finally, incomplete takings engender opportunities for inefficient strategic behavior on the part of the government after the partial taking has been carried out. Current partial takings jurisprudence fails to resolve these problems, and, in some instances even exacerbates them.
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 ...
Consequences Of The Clean Water Act And The Demand For Water Quality, 2017 Iowa State University
Consequences Of The Clean Water Act And The Demand For Water Quality, David A. Keiser, Joseph S. Shapiro
CARD Working Papers
Since the 1972 U.S. Clean Water Act, government and industry have invested over $1 trillion to abate water pollution, or $100 per person-year. Over half of U.S. stream and river miles, however, still violate pollution standards. We use the most comprehensive set of files ever compiled on water pollution and its determinants, including 50 million pollution readings from 170,000 monitoring sites, to study water pollution's trends, causes, and welfare consequences. We have three main findings. First, water pollution concentrations have fallen substantially since 1972, though were declining at faster rates before then. Second, the Clean Water ...
The Value Of The Right To Exclude: An Empirical Assessment, 2017 University of Pennsylvania Law School
The Value Of The Right To Exclude: An Empirical Assessment, Jonathan Klick, Gideon Parchomovsky
Property theorists have long deemed the right to exclude fundamental and essential for the efficient use and allocation of property. Recently, however, proponents of the progressive property movement have called into question the centrality of the right to exclude, suggesting that it should be scaled back to allow the advancement of more socially beneficial uses of property. Surprisingly, the debate between the opponents and detractors of the right to exclude is devoid of any empirical evidence. The actual value of the right to exclude remains unknown.
In this Article, we set out to fill this void by measuring, for the ...
Life Insurance: Nudges And Adverse Selection, 2017 University of Kentucky
Life Insurance: Nudges And Adverse Selection, Timothy F. Harris
Theses and Dissertations--Economics
Death of a breadwinner can have devastating financial consequences on surviving dependents through lost earnings and medical expenses. Life insurance is designed to help mitigate these financial burdens. Nonetheless, there are documented shortages in life insurance coverage. Adverse selection---where higher risk individuals are more likely to purchase coverage leading to market failure---could be one of the causes of uninsured vulnerabilities. I analyze both the existence of and welfare costs from adverse selection in individual term life insurance and employer-sponsored life insurance (ESLI) at a large public university. In the individual term market, using a representative sample of purchasers, I do ...
A Better Calculus For Regulators: From Cost-Benefit Analysis To The Social Welfare Function, Matthew D. Adler
The “social welfare function” (SWF) is a powerful tool that originates in theoretical welfare economics and has wide application in economic scholarship, for example in optimal tax theory and environmental economics. This Article provides a comprehensive introduction to the SWF framework. It then shows how the SWF framework can be used as the basis for regulatory policy analysis, and why it improves upon cost-benefit analysis (CBA).
Two types of SWFs are especially plausible: the utilitarian SWF, which sums individual well-being numbers, and the prioritarian SWF, which gives extra weight to the well-being of the worse off. Either one of these ...
Impact On Merchant Refiners And Blenders From Changing The Rfs Point Of Obligation, 2016 Iowa State University
Impact On Merchant Refiners And Blenders From Changing The Rfs Point Of Obligation, Bruce A. Babcock, Gabriel E. Lade, Sébastien Pouliot
CARD Policy Briefs
The Environmental Protection Agency has proposed to deny a request to move the point of obligation under the Renewable Fuel Standard (RFS) from oil refiners to fuel blenders. Supporters of the request argue that those refiners who do not have the fuel blending capabilities of large, integrated oil companies are in danger of going out of business due to their need to buy RINs (Renewable Identification Numbers) to show compliance with the RFS. We demonstrate that this claim is false and that moving the point of obligation would have no impact on refiner profits. The key point that is neglected ...
Fuel Subsidy Pass-Through And Market Structure: Evidence From The Renewable Fuel Standard, 2016 Iowa State University
Fuel Subsidy Pass-Through And Market Structure: Evidence From The Renewable Fuel Standard, Gabriel E. Lade, James Bushnell
CARD Working Papers
The Renewable Fuel Standard (RFS) is among the largest renewable energy mandates in the world. The policy is enforced using tradeable credits that implicitly subsidize biofuels and tax fossil fuels. The RFS relies on these taxes and subsidies to be passed through to consumers to stimulate demand for biofuels and decrease demand for gasoline and diesel. Using station-level prices for E85 (a high-ethanol blend fuel) from over 450 retail fuel stations, we show that pass-through of the ethanol subsidy is, on average, complete. However, we find that full pass-through takes four to six weeks and that local market structure of ...