Taxes offer an alternative to tariffs

2018 ◽  
Keyword(s):  
Technological Progress ◽  
International Competition ◽  
Negative Effects ◽  
Tax System ◽  
Content Type ◽  
High Productivity ◽  
The Public ◽  
The Core ◽  
The Us ◽  
Labour Participation

Subject Goods trade and redistribution. Significance The creation of winners and losers is at the core of the public debate surrounding international trade. Some workers benefit from having a comparative advantage in international competition, but many that do not, lose out from trade. The winners tend to take their good fortune for granted, but the losers feel their pain acutely. Impacts Concerns will persist; research shows that Chinese import exposure lowers US labour participation, incomes and social assistance take up. Progressive taxation helps workers, but disincentivises moving from low- to high-productivity locations; policy will need to consider this. The US tax system has historically become more regressive as the economy has opened to trade; changing direction would reduce inequality. Increasing tax policy progressivity as automation accelerates will ease worries about the negative effects of technological progress.

Iraq's Abadi likely to survive reform challenge

2015 ◽  
Keyword(s):  
Public Sector ◽  
Public Spending ◽  
Strong Support ◽  
Financial Assistance ◽  
Content Type ◽  
The Public ◽  
Us Military ◽  
The Us ◽  
Step Down

Significance Criticism of his reforms, which involve sweeping cuts to government positions and an anti-corruption drive, has mounted in recent weeks despite initially receiving strong support from Shia politicians. However, parliamentarians are now openly debating whether parliament should withdraw its support for the reforms, with some even suggesting that Abadi should step down. Impacts Abadi's reform drive may stall if he is forced to reverse his cuts to government positions and create new ones to rebuild his support base. Failure to rein in public spending will affect Iraq's attempts to seek international financial assistance. Abadi's weakening would strengthen the Shia militias, and thereby reduce prospects for reconciliation with the Sunni community. It would also increase attempts by hardliners to sideline the US military in the fight against ISG. Abadi may well climb down on the public sector salary issue and attempt to depoliticise it.

Policy must look beyond pay to raise living standards

2017 ◽  
Keyword(s):  
Technological Progress ◽  
Living Standards ◽  
Nominal Wage ◽  
Real Wages ◽  
Content Type ◽  
The Public ◽  
Job Opportunities ◽  
Advanced Economies ◽  
Manufactured Goods ◽  
Low Wages

Significance Elections have already given the public an opportunity to vent their anger about low wages and the scarcity of better job opportunities -- the former is prevalent among low-paid workers; the latter anxiety is wider. But concern is rising about a disconnect between jobs and pay. Impacts Pre-crisis nominal pay rises were in the 2-5% range in the advanced economies -- fuelling expectations of a pick-up in pay. US consumers could moderate their nominal wage demands, as lower inflation has eased the pressure on real wages. Competition and technological progress will continue to reduce the price of many manufactured goods and some services, helping households.

Ishiba cannot rival Abe for Japan leadership yet

2017 ◽  
Keyword(s):  
Security Policy ◽  
Democratic Party ◽  
Prime Minister ◽  
Liberal Democratic Party ◽  
Party Leader ◽  
Good Sense ◽  
Content Type ◽  
The Public ◽  
Liberal Democratic ◽  
The Us

Subject A profile of Shigeru Ishiba. Significance Ishiba was runner-up to Abe in the 2012 leadership contest for the Liberal Democratic Party (LDP) and since then has positioned himself to replace Abe as party leader and prime minister should Abe's popularity falter. A poll last month showed that 20.4% of the public wanted Ishiba as prime minister compared with Abe's 19.7%, a dramatic swing since December, when Abe had 34.5% and Ishiba just 10.9%. Impacts Security policy is Ishiba's strength; he has well-developed views and a good sense of what is realistic. Ishiba's critique of Abenomics is lucid, but he has yet to offer a clear alternative. Washington would likely welcome an Ishiba government since he has good connections in the US defence establishment. Ishiba's Christianity may also win him points in Washington.

COVID-19 will hit US GDP but recovery may be V-shaped

2020 ◽  
Keyword(s):  
Market Liquidity ◽  
Economic Downturn ◽  
Content Type ◽  
The Public ◽  
Us Economy ◽  
The Us ◽  
Home Sales ◽  
The Government ◽  
National Emergency ◽  
Economic Outlook

Subject US economic outlook. Significance Before the COVID-19 outbreak, economic activity was growing at 2.0-2.5%, the stock market and employment were close to record highs, new home sales were rising and consumer spending had momentum. The immediate outlook for the US economy is now very unclear as the number of COVID-19 cases has surged above 3,800 and the virus is present in 49 states, prompting President Donald Trump to declare a national emergency on March 13. To bolster financial market liquidity and support businesses and households, the Federal Reserve (Fed) cut rates by 100 basis points to 0-0.25% on March 15. Impacts The public spending for the COVID-19 outbreak will add to the budget deficit as no party is willing to raise taxes in an election year. The Fed may cut rates more but will risk inflation if rates stay low too long; if recovery is rapid, rates may rise sooner than expected. Heavily indebted firms and individuals will seek assistance from the government, especially in the travel and entertainment industries. A sharper economic downturn will test Trump’s managerial skill as his voters expect him to be able to resolve their problems quickly.

Primary versus carbonate production in the Toarcian, a case study from the Llanbedr borehole (Mochras Farm, Wales)

2021 ◽  
pp. SP514-2021-19
Author(s):  
Alessandro Menini ◽  
Emanuela Mattioli ◽  
Stephen P. Hesselbo ◽  
Micha Ruhl ◽  
Guillaume Suan
Keyword(s):  
Sea Water ◽  
Initial Perturbation ◽  
Carbonate Production ◽  
Nutrient Delivery ◽  
Content Type ◽  
High Productivity ◽  
Oceanic Anoxic Event ◽  
The Core ◽  
C Isotopes ◽  
Supplementary Material

AbstractThe leading hypothesis for the Toarcian oceanic anoxic event (T-OAE; ∼183Ma) and the associated negative C-isotope excursion is the massive release of 12C favouring greenhouse and continental weathering. The nutrient delivery to shallow-basins supported productivity and, because of O2-consumption by organic-matter respiration, anoxia development. However, several works showed that calcareous nannoplankton experienced a decrease during the T-OAE. Nannofossil fluxes measured in the Llanbedr borehole (Mochras Farm; Wales, UK) were the highest prior to the negative C-isotope excursion, along with high amounts of taxa indicative of nutrient-rich environments (Biscutaceae). Such conditions attest to high productivity. Fluxes show the lowest values in the core of the event, along with a size decrease of Schizosphaerella and a peak in Calyculaceae. The recovery of nannofossil fluxes and Schizosphaerella size occurred concomitant with the return of C-isotopes to more positive values. Concomitantly, deep-dwellers (Crepidolithus crassus) dominated, indicating a recovery of the photic-zone productivity. These observations demonstrate that the cascade of environmental responses to the initial perturbation was more complex than previously considered. In spite of elevated nutrient delivery to epicontinental basins in the early Toarcian, carbonate and primary productions of nannoplankton were depressed in the core the T-OAE likely because of prolonged thermohaline sea-water stratification.Supplementary material at https://doi.org/10.6084/m9.figshare.c.5541440

A fragile agreement on global tax reform is near

2021 ◽  
Keyword(s):  
Tax Competition ◽  
Tax Reform ◽  
Developing Nations ◽  
Costs And Benefits ◽  
Political Pressure ◽  
Tax System ◽  
Content Type ◽  
Tax Revenues ◽  
The Us

Significance Political pressure for tax reform has increased as many large tech firms, in particular, have made large profits during the pandemic, and many countries need to raise tax revenues to bolster their budgets. Impacts Once there is more certainty of the details, governments are likely to have very different views about the costs and benefits of the plan. The US proposal to extend Pillar 1 marks the start of a shift in the global tax system from source taxation towards market country taxation. Many small and developing nations will oppose the US plan to extend Pillar 2 to include limiting tax competition, as they benefit from this.

Public procurement and the BLS: operationalizing occupational duties

2015 ◽  
Vol 28 (7) ◽  
pp. 510-527 ◽  
Author(s):  
Joshua M. Steinfeld ◽  
Eric Prier ◽  
Clifford McCue
Keyword(s):  
Public Sector ◽  
Public Procurement ◽  
Theory And Practice ◽  
Content Type ◽  
The Public ◽  
The Us ◽  
Private And Public ◽  
High Degree ◽  
Bureau Of Labor Statistics ◽  
Job Activities

Purpose – Procurement is a specific, yet dynamic area of work and study that is recognized as an occupation by the US Bureau of Labor Statistics (BLS). However, there is growing literature that substantiates differences in theory and practice, between procurement practitioners in the private and public sectors. The purpose of this paper is to validate the procurement occupational duties identified by the BLS with actual job activities performed and managed by public sector practitioners. Design/methodology/approach – The paper is based on a survey of public sector practitioners to obtain information with regards to occupational duties and job activities in public procurement, as compared to a BLS proxy for procurement. Findings – Public procurement practitioners complete the occupational duties identified by BLS, yet there is one occupational duty in public procurement that is absent from the BLS description for procurement. Practical implications – Empirical data and analysis identifies the potential for public procurement to be considered its own occupation separate from private sector procurement, providing a foundation for development, management, and professionalization of the field. Originality/value – The public procurement practitioners who completed the survey have a high degree of professional orientation based on certifications held and professional association membership, a foundation for generating applicatory results for studying the actual occupational duties in procurement. The specialized job activities performed and managed in perhaps the fastest growing occupation within public sector management are catalogued in this study.

Conclusions

2018 ◽  
Author(s):  
Dennis C. Spies
Keyword(s):  
Comparative Analysis ◽  
Ethnic Diversity ◽  
Western Europe ◽  
Institutional Design ◽  
Empirical Support ◽  
Negative Effects ◽  
Welfare Programs ◽  
The Core ◽  
The Us ◽  
Core Areas

The purpose of this last chapter is to summarize the results of the comparative analysis of the US and Western Europe and point to venues for further research. Race and immigration are strongly linked to questions of welfare in the US, but there is little empirical support for the argument that immigration has also led to welfare state retrenchment in Europe. Notwithstanding the negative effects of increased ethnic diversity on support for welfare by natives, the institutional design of European welfare programs and the economically divided anti-immigrant movement prevent immigration concerns from translating into actual retrenchment in the core areas of welfare. Ironically, in many cases it is the anti-immigrant Extreme Right that prevents such an outcome in Western Europe.

China purge puts orderly leadership handover in doubt

2017 ◽  
Keyword(s):  
Political Stability ◽  
Xi Jinping ◽  
Content Type ◽  
Investor Confidence ◽  
The Public ◽  
The Core ◽  
Effective Policy ◽  
Party Chief ◽  
Potential Successor ◽  
Party Congress

Subject The purge and replacement of erstwhile presidential contender Sun Zhengcai. Significance Politburo member Sun Zhengcai, once seen as a potential successor to Xi Jinping as president, has been removed from his post as Party chief of Chongqing and placed under investigation. Chen Min'er, a Xi loyalist, replaces him. Impacts The top leadership will probably manage to present a relatively united front to the public ahead of the Party Congress. In the much longer term, the corrosion of collective leadership could reduce political stability, which may damage investor confidence. An administration composed of officials whose thinking matches that of the core leader is less likely to generate effective policy.

scholarly journals Self-regulation and compliance enforcement practices by the Investment Dealers Association in Canada

2017 ◽  
Vol 25 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Mark Lokanan
Keyword(s):  
Public Interest ◽  
Design Methodology ◽  
Self Regulation ◽  
Best Interests ◽  
Future Research ◽  
Content Type ◽  
The Public ◽  
The Core ◽  
The One ◽  
Time Future

Purpose This paper aims to examine the enforcement practices of the Investment Dealers Association of Canada (IDA) and argue that self-regulation simply does not work in the financial sector, as the sanctions available are neither applied with sufficient severity nor are the responsibilities for enforcement adequately divided between self-regulation, provincial securities commissions and the police. Design/methodology/approach The core compliance data for the study came from the IDA’s tribunal cases that were heard between 1984 and June 2008. The theoretical approach involves the invocation of classic articles by the likes of Stigler, Posner and Becker, the essence of whose conclusions is that institutions will act in their own best interests and cannot be expected to act in the public interest. Findings The findings show that over the period from 1984 to 2008, the severity of the sanctions increased consistently over the period. When penalty ceilings were increased, penalties increased. When in the latter phase of the period, public members (i.e. non-members of the industry) chaired the tribunals, penalties also increased. Research limitations/implications Researchers can use the data to write a paper which asks “Why did the IDA tribunal penalties increase so consistently with time?” Future research could canvass various possible explanations, including the one presented in this paper, to focus sustained attention on the issue of self-regulation. Originality/value This study is the first to systematically examine the enforcement performance of the IDA.

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