A protecção constitucional da família por via dos impostos: um estudo comparado entre o ordenamento jurídico Angolano e o ordenamento jurídico Português

Dissertação de mestrado em Direito Tributário e Fiscal

Análise técnica - económica da produção de energia em sistemas de abastecimento de água: caso do aproveitamento de fins múltiplos dos socorridos

Dissertação de mestrado integrado em Engenharia Civil

Modelos de negocio orientados al consumidor en los cibermedios españoles

La viabilidad de los cibermedios y los modelos de negocio que la sustenten son ya un tema  clásico  de  la  literatura  académica  y  profesional  en  el  ámbito  del  periodismo  electrónico. Consideramos relevante examinar las estrategias de ingresos orientadas al consumidor  de  los  cibermedios  españoles  en  un  contexto  de  madurez  de  la  prensa  digital que contrasta con la aguda crisis económica que vive en estos momentos el país.  Las  conclusiones  de  nuestro  estudio  señalan  la  convivencia  de  dos  modelos  de  negocio diametralmente distintos entre los cibermedios más vistos y de referencia en Internet en España y el establecimiento de estrategias de ‘suma de valor’ en aquellos cibermedios que han establecido sistemas de pago por consumo de contenidos.

Energy from waste (EfW): a feasibility study on the economic and the environmental co-benefits of biogas production within rural communities

Energy from waste (E/W) technologies in the form o f biogas plants, CHP plants and other municipal solid waste (MSW) conversion technologies, have been gaining steady ground in the provision o f energy throughout Europe and the UK. Urban Waste Water Treatment Plants (UWWTP) are utilising much o f the same biochemical processes common to these E/W plants. Previous studies on Centralised Anaerobic Digestion (CAD) within Ireland found that the legislative and economic conditions were not conducive to such an operation on the grounds o f low energy price for electric and heat energy, and due to the restrictive nature o f the allowable feedstocks. Recent changes to the Irish REFIT tariff on energy produced from Anaerobic digestion; alterations to the regulation o f the allowable use o f animal by products(ABP); the recent enactment o f the Renewable Energy D irective (09/28/EC) and a subsequent review o f the draft Biowaste Directive (2001) required that the issue o f decentralised energy production in Ireland be reassessed. In this instance the feasibility study is based on a extant rural community, centred around the village o f Woodford Co Galway. The review found that the prevailing conditions were now such that it was technically and economically feasible for this biochemical process to provide energy and waste treatment facilities at the above location. The review also outlines the last item which is preventing this process from becoming achievable, specifically the lack o f a digestate regulation on land spreading which deals specifically with biowaste. The study finds that the implementation o f the draft EU biowaste regulations, with amendments for Cr and Hg levels to match the proposed Irish regulation for compost, would ensure that Ireland has some o f the most restrictive regulations in Europe for this application. The delay in completing this piece o f legislation is preventing national energy and waste issues from being resolved in a planned and stepwise fashion. A proposed lay out for the new Integrated Waste from Energy Plant (IW/EP) is presented. Budget economic projections and alternative revenue streams are outlined. Finally a review o f the national policies regarding the Rural Development Plan (RDP), the Rural Planning Guidelines (RPG) and the National Renewable Energy Action Plan (NREAP) are examined against the relevant EU directives.

Efficiency and quality in local government management: the case of Spanish local authorities

This study analyses efficiency levels in Spanish local governments and their determining factors through the application of DEA (Data Envelopment Analysis) methodology. It aims to find out to what extent inefficiency arises from external factors beyond the control of the entity, or on the other hand, how much it is due to inadequate management of productive resources. The results show that on the whole, there is still a wide margin within which managers could increase local government efficiency levels, although it is revealed that a great deal of inefficiency is due to exogenous factors. It is specifically found that the size of the entity, per capita tax revenue, the per capita grants or the amount of commercial activity are some of the factors determining local government inefficiency.

Auctions for government securities: a laboratory comparison of uniform, discriminatory and spanish designs

The Bank of Spain uses a unique auction format to sell government bonds, which can be seen as a hybrid of a uniform and a discriminatory auction. For winning bids above the average winning bid, buyers are charged the average winning bid, otherwise they pay their respective bids. We report on an experiment that compares this auction format to the discriminatory format, used in most other countries, and to the uniform format. Our design is based on a common value model with multi-unit supply and two-unit demand. The results show significantly higher revenue with the Spanish and the uniform formats than with the discriminatory one, while volatility of prices over time is significantly lower in the discriminatory format than in the Spanish and uniform cases. Actual price dispersion is significantly larger in the discriminatory than in the Spanish. Our data also exhibit the use of bid-spreading strategies in all three designs.

Implementing a double dividend: recycling ecotaxes towards lower labour taxes

In this paper we follow the tradition of applied general equilibrium modelling of the Walrasian static variety to study the empirical viability of a double dividend (green, welfare, and employment) in the Spanish economy. We consider a counterfactual scenario in which an ecotax is levied on the intermediate and final use of energy goods. Under a revenue neutral assumption, we evaluate the real income and employment impact of lowering payroll taxes. To appraise to what extent the model structure and behavioural assumptions may influence the results, we perform simulations under a range of alternative model and policy scenarios. We conclude that a double dividend –better environmental quality, as measured by reduced CO2 emissions, and improved levels of employment– may be an achievable goal of economic policy.

Impacto redistributivo desagregado del IVA actual en España: posibles vías de reforma

The VAT is the most revenue tax in the Spanish economy in the year 2000. The aim of this research is to develop an analysis dissintegrated of the distributional effect of the current VAT in Spain, that is to say, this paper assesses the capacity of redistribution of the tax treatment of each expenditure category. It proposes different approaches for the analysis of the redistributive impact differential of each expenditure concept, and it desires to advocate the method of total decomposition of isolated contribution to the global distributional effect of the VAT. In this sense, this study shows the possibilities to identify the guidelines for possible fiscal adjustments of the Value Added Tax to contribute positively to the objectives of social justice, and its respective consequences on the population's welfare.

Addressing the net balances problem as a prerequisite for EU budget reform: a proposal

Conflict among member states regarding the distribution of net financial burdens has been allowed to contaminate the entire design of the EU budget with very negative consequences in terms of equity, efficiency and transparency. To get around this problem and pave the way for a substantive budget reform, we propose to decouple distributional negotiations from the rest of the budget process by linking member state net balances in a rigid manner to relative prosperity. This would be achieved through the introduction of a system of compensating horizontal transfers that would take to its logical conclusion the Commission's proposal for a generalized compensation mechanism. We discuss the impact of the proposed scheme on member states? incentives and illustrate its financial implications using revenue and expenditure projections for 2013 that are based on the current Financial Perspectives and Own Resources Decision.

The Complete Information First. Price Auction or the Importance of Being Indivisible

Abstract Despite the popularity of auction theoretical thinking, it appears that no one has presented an elementary equilibrium analysis of the first-price sealed-bid auction mechanism under complete information. This paper aims to remedy that omission. We show that the existence of pure strategy undominated Nash equilibria requires that the bidding space is not "too divisible" (that is, a continuum). In fact, when bids must form part of a finite grid there always exists a "high price equilibrium". However, there might also be "low price equilibria" and when the bidding space is very restrictive the revenue obtained in these "low price equilibria" might be very low. We discuss the properties of the equilibria and an application of auction theoretical thinking in which "low price equilibria" may be relevant. Keywords: First-price auctions, undominated Nash equilibria. JEL Classification Numbers: C72 (Noncooperative Games), D44 (Auctions).

Tax Structure, Growth and Welfare in the UK

This paper studies the quantitative implications of changes in the composition of taxes for long-run growth and expected lifetime utility in the UK economy over 1970-2005. Our setup is a dynamic stochastic general equilibrium model incorporating a detailed scal policy struc- ture, and where the engine of endogenous growth is human capital accumulation. The government s spending instruments include pub- lic consumption, investment and education spending. On the revenue side, labour, capital and consumption taxes are employed. Our results suggest that if the goal of tax policy is to promote long-run growth by altering relative tax rates, then it should reduce labour taxes while simultaneously increasing capital or consumption taxes to make up for the loss in labour tax revenue. In contrast, a welfare promoting policy would be to cut capital taxes, while concurrently increasing labour or consumption taxes to make up for the loss in capital tax revenue.

Seigniorage-maximizing inflation

What is the seigniorage-maximizing level of inflation? Four models formulae for the seigniorage maximizing inflation rate (SMIR) are compared. Two sticky-price models arrive at very different quantitative recommendations although both predict somewhat lower SMIRs than Cagan’s formula and a variant of a .ex-price model due to Kimbrough (2006). The models differ markedly in how inflation distorts the labour market: The Calvo model implies that inflation and output are negatively related and that output is falling in price stickiness whilst the Rotemberg cost-of-price-adjustment model implies exactly the opposite. Interestingly, if our version of the Calvo model is to be believed, the level of inflation experienced recently in advanced economies such as the USA and the UK may be quite close to the SMIR.

International Corporate Taxation and U.S. Multinationals’ Behavior: an Integrated Approach

Using data from the International Revenue Service, this paper explores the effcts of corporate taxation on U.S. capital invested abroad and on tax planning practices (dividend payments, income shifting, and passive investment). The econometric analysis first indicates that investment is strongly influenced by average tax rates, with a magnified impact for particularly low-tax rates implying that the attractiveness of low-tax countries is not weakened by anti-deferral rules and cross-crediting limitations. Further explorations suggest that firms report higher profit and are less likely to repatriate dividends when they are located in low-tax jurisdictions. Firms also report higher Subpart F income in countries in which they shift their profit, suggesting that cross-crediting provides an incentive to shift passive income in low-tax countries and that passive investment can be an alternative strategy to minimize taxes when active investment opportunities are lacking. Finally, the paper estimates the role of effective transfer pricing regulation on income shifting activities using the quality of host countries' law enforcement. It appears that low degrees of law enforcement are associated with higher income-shifting.

The Good, the Bad and the Populist: A Model of Political Agency with Emotional Voters

This paper attempts to extend existing models of political agency to an environment in which voting may be divided between informed and instrumental, informed and ‘expressive’ (Brennan and Lomasky (1993)) and uninformed due to ‘rational irrationality’ (Caplan (2007)). It constructs a model where politicians may be good, bad or populist. Populists are more willing than good politicians to pander to voters who may choose inferior policies in a large-group electoral setting because their vote is insignificant compared with those that voters would choose were their vote decisive in determining the electoral outcome. Bad politicians would ideally like to extract tax revenue for their own ends. Initially we assume the existence of only good and populist politicians. The paper investigates the incentives for good politicians to pool with or separate from populists and focuses on three key issues – (1) how far the majority of voter’s preferences are from those held by the better informed incumbent politician (2) the extent to which the population exhibits rational irrationality and expressiveness (jointly labelled as emotional) and (3) the cost involved in persuading uninformed voters to change their views in terms of composing messages and spreading them. This paper goes on to consider how the inclusion of bad politicians may affect the behaviour of good politicians and suggests that a small amount of potential corruption may be socially useful. It is also argued that where bad politicians have an incentive to mimic the behaviour of good and populist politicians, the latter types of politician may have an incentive to separate from bad politicians by investing in costly public education signals. The paper also discusses the implications of the model for whether fiscal restraints should be soft or hard.

Scotland: A New Fiscal Settlement

Executive Summary Many commentators have criticised the strategy currently used to finance the Scottish Parliament – both the block grant system, and the small degree of fiscal autonomy devised in the Calman report and the UK government’s 2009 White Paper. Nevertheless, fiscal autonomy has now been conceded in principle. This paper sets out to identify formally what level of autonomy would be best for the Scottish economy and the institutional changes needed to support that arrangement. Our conclusions are in line with the Steel Commission: that significantly more fiscal powers need to be transferred to Scotland. But what we can then do, which the Steel Commission could not, is to give a detailed blueprint for how this proposal might be implemented in practice. We face two problems. The existing block grant system can and has been criticised from such a wide variety of points of view that it effectively has no credibility left. On the other hand, the Calman proposals (and the UK government proposals that followed) are unworkable because, to function, they require information that the policy makers cannot possibly have; and because, without borrowing for current activities, they contain no mechanism to reconcile contractual spending (most of the budget) with variable revenue flows – which is to invite an eventual breakdown. But in its attempt to fix these problems, the UK White Paper introduces three further difficulties: new grounds for quarrels between the UK and Scottish governments, a long term deflation bias, and a loss of devolution.