Optimal second best taxation of addictive goods in dynamic general equilibrium: a revenue raising perspective

In this paper we derive conditions under which optimal tax rates for addictive goods exceed tax rates for non-addictive consumption goods within a rational addiction framework where exogenous government spending cannot be financed with lump sum taxes. We reexamine classic results on optimal commodity taxation and find a rich set of new findings. Two dynamic effects exist. First, households anticipating higher future addictive tax rates reduce current addictive consumption, so they will be less addicted when the tax rate increases. Therefore, addictive tax revenue falls prior to the tax increase. Surprisingly, the optimal tax rate on addictive goods is generally decreasing in the strength of tolerance, since strong tolerance strengthens this tax anticipation effect. Second, high current tax rates on addictive goods make households less addicted in the future, affecting all future tax revenues in a way which depends on how elasticities are changing over time. Classic results on uniform commodity taxation emerge as special cases when elasticities are constant and the addiction function is homogeneous of degree one. Finally, we also study features of addictive goods such as complementarity to leisure that, while not directly related to the definition of addiction, are nonetheless properties many addictive goods display.

101 Ways to save money on your tax - legally! 2014-2015

Stop giving your money away!You work hard for your money, and you work even harder to set and keep a budget that makes the most of it. But when tax time arrives, do you feel shorted on your return? Nearly everyone has to pay taxes, but the government is only entitled to so much of your money. You might be letting them keep hundreds or even thousands of dollars that rightfully belong to you. No matter what your accounting habits have been so far, you can still claim what's yours.101 Ways to Save Money on Your Tax—Legally! 2014 – 2015 is your ultimate guide to maximising your return. Author Adrian Raftery, a.k.a. Mr. Taxman, is Australia's leading personal taxation expert. In the book, Raftery provides the information you need to get back every single dollar you're entitled to, plus tips and tricks that help you get the most out of deductions related to:•You, your family, and your property•Education, employment, and small business•Investment property, shares, and superannuation•Special circumstances, including medical expenses and leviesThe book also contains advice on related matters, including tax-effective investments, tax planning, and how to find a great accountant. All information has been updated to reflect tax law changes wrought by the May 2014 budget. If you're tired of paying too much tax and seeing too little return, 101 Ways to Save Money on Your Tax—Legally! 2014 – 2015 is your comprehensive guide to putting things right, starting now.

How website design options affect content prominence: a literature-derived framework applied to SME websites

The literature offers a fragmented view of design options with thepotential to affect the prominence of selected content (e.g., privacyinformation) on organizational websites. This article contributesto knowledge by consolidating the design options into a singleframework. It argues that future research should consider howthe design options in combination, not just individually, can affectcontent prominence. The article summarizes the types of qualitativeand quantitative studies needed to apply and extend the framework.It presents an example qualitative study showing how theframework can be applied to, and extended by, examining the prominence of ecologically sustainable practices (i.e., green content)on small and medium enterprise websites. The example studyemphasizes the value of the framework by illustrating how contentprominence may vary depending on interrelationships betweendesign options. The article finally offers suggestions on how practitioners and developers can use the framework when making website design decisions.

101 Ways to save money on your tax -- legally!

In 101 Ways to Save Money on Your Tax – Legally! Adrian Raftery, aka Mr Taxman, gives you proven tips to help you minimise your tax debt and maximise your tax return.

Agriculture, trade openness and emissions: an empirical analysis and policy options

This article investigates the impact of sectoral production allocation, energy usage patterns and trade openness on pollutant emissions in a panel consisting of high-, medium- and low-income countries. Extended STIRPAT (Stochastic Impact by Regression on Population, Affluence and Technology) and EKC (Environmental Kuznets Curve) models are conducted to systematically identify these factors driving CO2 emissions in these countries during the period 1980–2010. To this end, the studyemploys three different heterogeneous, dynamic mean group-type linear panel modelsand one nonlinear panel data estimation procedure that allows for cross-sectionaldependence. While affluence, nonrenewable energy consumption and energy intensity variables are found to drive pollutant emissions in linear models, population is also found to be a significant driver in the nonlinear model. Both service sector and agricultural value-added levels play a significant role in reducing pollution levels, whereas industrialisation increases pollution levels. Although the linear model fails totrack any significant impact of trade openness, the nonlinear model finds trade liberalisation to significantly affect emission reduction levels. All of these results suggest that economic development, and especially industrialisation strategies and environmental policies, need to be coordinated to play a greater role in emission reduction due to trade liberalisation.

How do SMEs with single and multiple owners finance their operations differently? Empirical evidence from China

We study the impact of firm-level characteristics on the capital structures of private small and medium-sized enterprises (SMEs) as well as the differences between the capital structures adopted by SMEs with single and multiple owners in China. Our findings highlight the limited use of asset-based financing by Chinese SMEs. We also find that the propensity of SMEs with single-owners to use external debt was significantly less than those with multiple owners. Furthermore, our findings suggest that single-owned firms are subject to a more constrained pecking order than those with multiple owners.

The impact on family functioning of social media use by depressed adolescents: a qualitative analysis of the family options study

BACKGROUND: Adolescent depression is a prevalent mental health problem, which can have a major impact on family cohesion. In such circumstances, excessive use of the Internet by adolescents may exacerbate family conflict and lack of cohesion. The current study aims to explore these patterns within an intervention study for depressed adolescents.

METHOD: The current study draws upon data collected from parents within the family options randomized controlled trial that examined family based interventions for adolescent depression (12-18 years old) in Melbourne, Australia (2012-2014). Inclusion in the trial required adolescents to meet diagnostic criteria for a major depressive disorder via the Structured Clinical Interview for DSM-IV Childhood Disorders. The transcripts of sessions were examined using qualitative thematic analysis. The transcribed sessions consisted of 56 h of recordings in total from 39 parents who took part in the interventions.

RESULTS: The thematic analysis explored parental perceptions of their adolescent's use of social media (SM) and access to Internet content, focusing on the possible relationship between adolescent Internet use and the adolescent's depressive disorder. Two overarching themes emerged as follows: the sense of loss of parental control over the family environment and parents' perceived inability to protect their adolescent from material encountered on the Internet and social interactions via SM.

CONCLUSION: Parents within the context of family based treatments felt that prolonged exposure to SM exposed their already vulnerable child to additional stressors and risks. The thematic analysis uncovered a sense of parental despair and lack of control, which is consistent with their perception of SM and the Internet as relentless and threatening to their parental authority and family cohesion.

Prioritizing climate change adaptation options for iconic marine species

© 2015, Springer Science+Business Media Dordrecht. Adaptation options in response to climate impact scenarios for marine mammals and seabirds were developed based on the IPCC vulnerability framework. Under this framework, vulnerability to the physical effects of climate change can be reduced by adaptation options that reduce exposure of individuals, reduce the sensitivity of individuals, and increase the adaptive capacity of individual/species to cope with climate change. We evaluated options in each vulnerability category with three screening tools collectively forming an approach we term sequential adaptation prioritization for species. These tools were designed to evaluate (i) technical aspects (cost-benefit-risk, CBR), (ii) institutional barriers, and (iii) potential social acceptability. The CBR tool identified which adaptation options were high cost and low benefit, might be discarded, and which were high benefit and low cost, might be rapidly implemented (depending on risk). Low cost and low benefit options might not be pursued, while those that are high cost, but high benefit deserve further attention. Even with technical merit, adaptation options can fail because of institutional problems with implementation. The second evaluation tool, based on the conceptual framework on barriers to effective climate adaptation, identifies where barriers may exist, and leads to strategies for overcoming them. Finally, adaptation options may not be acceptable to society at large, or resisted by vocal opponents or groups. The social acceptability tool identifies potentially contested options, which may be useful to managers charged with implementing adaptation options. Social acceptability, as scored by experts, differed from acceptability scored by the public, indicating the need to involve the public in assessing this aspect. Scores from each tool for each scenario can be combined to rank the suite of adaptation options. This approach provides useful tools to assist conservation managers in selecting from a wide range of adaptation strategies; the methodology is also applicable to other conservation sectors.

Methods to prioritise adaptation options for iconic seabirds and marine mammals impacted by climate change

Climate change is already impacting a wide range of marine species around Australia. Australia has a large number of marine mammals and seabirds, particularly when Australian Antarctic and Southern Ocean species are included: 110 species of seabird and 52 species of marine mammal. These iconic species are protected throughout Australia and in some cases are recovering from previous anthropogenic impacts including harvest. The first tool we developed is a simple 'cost-benefit- risk' (CBR) screening tool to evaluate each scenario-specific adaptation option against a number of semi-quantitative attributes. Awareness and identification of potentially contested options would be useful to managers charged with implementing adaptation options. Following on from specific application, testing some of the adaptation options in limited field trials would be a useful next step, further building the experience of researchers and managers charged with securing the status of these iconic species in the future.

Executive equity risk-taking incentives and audit pricing

Using a large sample of U.S. firms spanning the period 2000-2010, we document a strong positive association between the sensitivity of CEO compensation portfolio to stock return volatility (vega) and audit fees. We also show that the positive association between vega and audit fees is weaker in the post-Sarbanes-Oxley Act (SOX) period. In supplementary tests, we show that the relation between vega and audit fees is stronger for firms with older CEOs and in firms where the CEO is also chairman of the board. Collectively, our results suggest that audit firms incorporate executive risktaking incentives in the fees they charge for their services.