How does globalization affect the tax burden on labour income, capital income and consumption in different welfare regimes? The case of Western and Eastern EU Member States

This article analyzes the effects of globalization on implicit tax rates (ITRs) on labor income, capital income, and consumption in the EU15 and Central and Eastern European New Member States (CEE NMS). We find supportive evidence for an increase in the ITR on labor income in the EU15, but no effect on the ITR on capital income. There is evidence of convergence in terms of the ITR on consumption, as countries with higher than average ITR on consumption respond to globalization by decreasing their tax rates. There are important differences among the welfare regimes within the EU15. Social-democratic countries have decreased the tax burden on capital, but increased that on labor due to globalization. Globalization exerts a pressure to increase taxes on labor income in the conservative and liberal regimes as well. Taxes on consumption decrease in response to globalization in the conservative and social-democratic regimes. In the CEE NMS, there is no effect of globalization on the ITR on labor and capital income, but we find a negative impact on the ITR on consumption in the CEE NMS with higher than average ITR on consumption. (JEL H23, H24, H25, F19, F21)

Financialisation, income distribution and aggregate demand in the USA

This paper investigates the effects of financialisation and functional income distribution on aggregate demand in the USA by estimating the effects of the increase in rentier income (dividends and interest payments) and housing and financial wealth on consumption and investment. The redistribution of income in favour of profits suppresses consumption, whereas the increase in the rentier income and wealth has positive effects. A higher rentier income decreases investment. Without the wealth effects, the overall effect of the changes in distribution on aggregate demand would have been negative. Thus a pro-capital income distribution leads to a slightly negative effect on growth, i.e. the USA economy is moderately wage-led.

Creating and sustaining mixed income communities: a good practice guide

A comprehensive guide to planning and consultation issues around mixed income communities. This guide explores how to create attractive and well-managed places that meet the needs of all sections of the community. Drawing on the latest research, and featuring nine case study areas, it includes detailed guidance on: developing a strategy and negotiating the planning process; good practice in masterplanning, design, layout and long-term financial viability; how stakeholders can collaborate effectively and ensure that local residents are fully involved at all stages; how barriers to the development of sustainable communities might be overcome. The guide explores all types of mixed income communities, from the diversification of single-tenure inner-city estates to greenfield development on the urban fringe.

Creating and sustaining mixed income communities in Scotland: a good practice guide

A good practice guide to creating and sustaining mixed income communities in Scotland. This guide explores how to create attractive and well-managed places that meet the needs of all sections of the community. Drawing on the latest research, and featuring 11 case studies from Scotland and England, it offers a comprehensive guide to the issues that need to be planned for and addressed. The book includes detailed guidance on: -Developing a strategy and negotiating the planning process; -Good practice in masterplanning, design, layout and long-term financial viability; -How stakeholders can collaborate effectively and ensure that local residents are fully involved at all stages; -How barriers to the development of sustainable communities might be overcome. The guide explores all types of mixed income communities, from the diversification of mono-tenure estates in inner city areas to greenfield development on the urban fringe.

Financial development and income inequality: evidence from African countries

This paper present empirical evidence on how financial development is related to income distribution in a panel data set covering 22 African countries for the period between 1990 to 2004. A dynamic panel estimation technique (GMM) is employ and the findings indicate that income inequality decrease as economies develop their financial sector, which is consistent with the bulk of theoretical and empirical research. The result also confirm that educational attainment play a significant role in making income distribution more equal. We also find no evidence supporting the Greenwood-Jovanovic hypothesis of an inverted-U- shaped relationship between financial sector development and inequality.

Laccase-assisted approach to graft multifunctional materials of interest: keratin-EC based novel composites and their characterisation

This study focuses on the evaluation of raw keratin as a potential material to develop composites with novel characteristics. Herein, we report a mild and eco-friendly fabrication of in-house extracted feather keratin-based novel enzyme assisted composites consisting of ethyl cellulose (EC) as a backbone material. A range of composites between keratin and EC using different keratin: EC ratios were prepared and characterised. Comparing keratin to the composites, the FT-IR peak at 1,630 cm-1 shifted to a lower wavenumber of 1,610 cm-1 in keratin-EC which typically indicates the involvement of β-sheet structures of the keratin during the graft formation process. SEM analysis revealed that the uniform dispersion of the keratin increases the area of keratin-EC contact which further contributes to the efficient functionality of the resulting composites. In comparison to the pristine keratin and EC, a clear shift in the XRD peaks was also observed at the specific region of 2-Theta values of keratin-g-EC. The thermo- mechanical properties of the composites reached their highest levels in comparison to the keratin which was too fragile to be measured for its mechanical properties. Considerable improvement in the water contact angle and surface tension properties was also recorded.

Enzymatic grafting: A novel approach to develop multifunctional materials of interest

Today more than 99% of plastics are petroleum-based because of the availability and cost of the raw material. The durability of disposed plastics contributes to the environmental problems as waste and their persistence in the environment causes deleterious effects on the ecosystem. Environmental pollution awareness and the demand for green technology have drawn considerable attention of both academia and industry into biodegradable polymers. In this regard green chemistry technology has the potential to provide solution to this issue. Enzymatic grafting has recently been the focus of green chemistry technologies due to the growing environmental concerns, legal restrictions, and increasing availability of scientific knowledge. Over the last several years, research covering various applications of robust enzymes like laccases and lipases has been increased rapidly, particularly in the field of polymer science, to graft multi-functional materials of interest. In principle, enzyme-assisted grafting may modify/impart a variety of functionalities to the grafted composites which individual materials fail to demonstrate on their own. The modified polymers through grafting have a bright future and their development is practically boundless. In the present study series of graft composites with poly(3-hydroxybutyrate) (P(3HB) as side chain and cellulose as a backbone polymer were successfully synthesised by introducing enzymatic grafting technique where laccase and lipase were used as model catalysts [1-3]. Subsequently, the resulting composites were removed from the casting surface under ambient environment and characterised by Fourier-transform infrared spectroscopy (FT-IR), scanning electron microscopy (SEM), and X-ray diffraction (XRD) in detail. Moreover, the thermo-mechanical behaviours of the grafted composites were investigated by differential scanning calorimetry (DSC) and dynamic mechanical analyser (DMA) measurements, respectively. In addition, hydrophobic and hydrophilic characteristics of the grafted polymers were studied through drop contour analysis using water contact angle (WCA). In comparison to the individual counterparts improvement was observed in the thermo- mechanical properties of the composites to varied extent. The tensile strength, elongation at break, and Young’s modulus values of the composites reached their highest levels in comparison to the films prepared with pure P(3HB) only which was too fragile to measure any of the above said characteristics. Interestingly, untreated P(3HB) was hydrophobic in nature and after lipase treatment P(3HB) and P(3HB)-EC-based graft composite attained higher level of hydrophilicity. This is a desired characteristic that enhances the biocompatibility of the materials for proper cell adhesion and proliferation therefore suggesting potential candidates for tissue engineering/bio-medical type applications [3]. The present research will be a first step in the biopolymer modification. To date no report has been found in literature explaining the laccase/lipase assisted grafting of P(3HB) [1-3]. The newly grafted composites exhibit unique functionalities with wider range of potential applications in bio-plastics, pharmaceutical, and cosmetics industries, tissue engineering, and biosensors. [1] H.M.N. Iqbal, G. Kyazze, T. Tron and T. Keshavarz, Cellulose 21, 3613-3621 (2014). [2] H.M.N. Iqbal, G. Kyazze, T. Tron and T. Keshavarz, Carbohydrate Polymers 113, 131-137 (2014). [3] H.M.N. Iqbal, G. Kyazze, T. Tron and T. Keshavarz, Polymer Chemistry In-Press, DOI: 10.1039/C4PY0 0857J (2014).