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This study offers design of the 'socially optimal' rebate and tax structures, corresponding to the maximum expected gain and minimum risk from migration of prospective risk-averse suppliers towards supplying sustainable products. Risk-averse behaviour is caused by small and medium-sized suppliers who are financially constrained from the perspective of a textile company. This study addresses the unexplored but serious issue of suppliers' willingness-to-pay for renouncing the option of migrating towards sustainable practices under uncertain market conditions for sustainable products, by using a mean-variance utility framework. The analytical model is validated using case-based real data collected from an Indian retailer who works with two types of suppliers in India: one natural fibre supplier and another chemical-based synthetic fibre supplier. Our model helps explain the effects of loss in expected market share and sudden increase in variability in market share for sustainable products respectively on the 'socially optimal' rate of tax and rebate. Also, we establish that with rate of tax increases, the 'socially optimal' rate of rebate on sustainable product must increase at an increasing rate to induce potential migration of suppliers towards sustainable practices. The implications of our findings on academics and practice are offered. [ABSTRACT FROM AUTHOR]

Foreign remittance has become an essential source of wealth in recent decades, with far‐reaching effects on various economic indices and CO2 emissions. This research examines the impact of remittances and disaggregated energy consumption on CO2 emissions in an ‘Environmental Kuznets Curve (EKC)’ framework utilising a global sample of 46 top remittance‐receiving countries during 1996–2020. The study confirms the EKC proposition and demonstrates that a decline in CO2 emissions is connected to remittance, renewable energy use and financial development. Additionally, our results stand up to various robustness tests, ensuring the reliability of our findings. Our research suggests that to reduce the adverse effects of non‐renewable energy on environmental quality, governments, regulators and other stakeholders should implement rigorous market regulations and allocate substantial financial resources to R&D for innovating environmentally friendly production technologies. The government may also provide incentives for importing environmentally friendly production tech, such as tax rebates and subsidies. Lastly, foreign remittance and renewable energy are two tools governments may employ to cut CO2 emissions and improve environmental quality. [ABSTRACT FROM AUTHOR]

Employing a unique approach to household utility maximization, this paper explores the implications of vehicle carbon taxation and subsidies in the context of household choice for urban transportation mode where there exist two private characteristics of travel: comfort and time efficiency, and a third public negative characteristic, carbon emissions. Two policies to reduce carbon emissions are examined in this framework; (1) subsidizing public transportation and imposing a tax on vehicle emissions, (2) increasing the cost of private vehicle travel, and providing a rebate of the tax collected to the consumer. The results suggest that the latter policy may have little impact on carbon emissions and could possibly lead to an increase in emissions. [ABSTRACT FROM AUTHOR]

In recent decades, cataclysmic events, deterioration of air and water quality, and loss of biodiversity have forced us to look for ways to save nature. One of the ways to solve the problems is to ensure rational environmental management, which is possible by establishing an effective balance between consumption and compensation by creating an effective financial mechanism. The purpose of the study is to assess the efficiency of the current financial mechanism for environmental management in Ukraine and to determine the prospects for its improvement. The study uses analysis, synthesis, specification, systematization, and generalization. The graphical method was used to assess environmental taxes, and mathematical modelling was used to analyze the dependence of emissions on direct costs and capital investments in air protection and climate change. Environmental taxes in Ukraine are an ineffective instrument of the financial mechanism of environmental management. Their share in the structure of domestic GDP is lower than the share in the EU. The author suggests ways to improve them: to replace the CO2 tax with an energy tax; to cancel the tax-free limit of 500.000 tons of CO2 emissions per year; to change the structure of tax distribution; to introduce tax rebates. The correlation and regression analysis of the dependence of air pollutant emissions on current expenditures and capital investments in air protection and climate change issues showed the existence of a feedback loop. Investment support for environmental management should be provided from various sources in the following areas: national, local and international finances - primarily for the restoration of air, water and contaminated areas; own funds and international investments - for the modernization and greening of production. [ABSTRACT FROM AUTHOR]

Purpose: The paper aims to examine the role played by property tax in influencing strategic decisions regarding marital separation and divorce in Italian municipalities. Design/methodology/approach: The empirical analysis is conducted on a sample of 6,458 Italian municipalities by applying the ordinary least squares (OLS) and instrumental variables (IVs) approaches. Findings: The estimation results show a small increase in marital separations and divorces as the difference between the municipal secondary and primary home tax rate increases. Specifically, an increase of 1‰ in the property tax rate differentials is accompanied by an increase of six marital separations and four divorces per 1,000 inhabitants. Research limitations/implications: The main limitation of the analysis is that the strategic behavior of the married couple is inferred from econometric analysis with data aggregated at the municipal level. To investigate this phenomenon more precisely, it would be useful to have individual data collected by surveys on strategic divorce decisions due to property tax incentives. Originality/value: This study contributes to the scant existing literature on the tax incentives for strategic divorce. It is the first study to empirically investigate the effects of property tax on separation and divorce decisions by investigating the Italian context. In Italy, a property tax was introduced in 1993, encouraging "false" divorces by spouses with a second home since the tax on the secondary home was set at a rate higher than that on the primary residence. Moreover, there were no tax deductions and no additional tax breaks on the secondary home, while they were established on the primary one. Higher property taxes and the absence of tax breaks on the secondary home may have encouraged a strategic behavior whereby many married couples filed for false separation and divorce in order to recover part of property tax rebates. [ABSTRACT FROM AUTHOR]

New inventions can increase productivity, accelerate the creation of new profits, and provide lucrative growth potential. Using a fixed effect model, this article examines the influence of government innovation subsidies and tax rebates on the R&D production of pharmaceutical companies from 2010 to 2020. It also assesses the moderators of institutional investors, audit agencies, and public opinion in monitoring. The research finds that government innovation subsidies and tax rebates have a significant impact on pharmaceutical enterprises' R&D outputs. Second, institutional shareholding and public opinion supervision can increase government innovation subsidies and tax breaks for pharmaceutical R&D. SOEs are more susceptible to innovation subsidies, while non-SOEs benefit from tax rebates. This study assists managers and policymakers develop effective innovation strategies. [ABSTRACT FROM AUTHOR]

With the increasing number of hydropower plants under construction and proposed in Nepal, the country is anticipated to experience a surplus of hydropower that exceeds its peak load demand. This surplus electricity becomes particularly high during the wet seasons, when hydropower production reaches its maximum capacity. This research focuses on the mathematical modeling of an alkaline electrolyzer, specifically analyzing the stack performance and the electricity flow within the balance of plants required to support the stack operation. The developed model is then used to estimate the production cost of hydrogen by utilizing forecasted surplus electricity up until the year 2030. The output of the study is expected to help in the sustainable utilization of surplus hydropower in the country, thus enhancing the low carbon economic development path. The study shows that there is a significant opportunity for hydrogen production from surplus hydroelectricity, ranging from 91 ktonne/year to maximum, of 414 ktonne/year. The average levelized cost of hydrogen is estimated at 5.65 USD/kg. The cost can be further reduced if policy interventions like tax rebates and tariff rate subsidies are in place. • Hydrogen production system of an alkaline electrolyzer has been modeled. • Estimation of surplus electricity from installed capacity under demand profile. • Calculation of hydrogen costs using surplus electricity scenarios until 2030. • Sensitivity analysis of critical inputs affecting the hydrogen production cost. [ABSTRACT FROM AUTHOR]

Waste incineration with energy recovery is a matured Waste-to-Energy (WtE) technology which has contributed immensely to the disposal and management of Municipal Solid Waste (MSW) in industrialised nations. The adoption of this technology in developing countries is currently gaining momentum due to the numerous benefits that can be derived from its use. In this study, a techno-economic assessment of MSW incineration in proposed waste incineration facilities for use in Ghana was carried out. The technical assessment was conducted by determining the plant capacity and annual electricity production based on the combustible residues of MSW collected from various population sizes in the country, while the economic assessment was carried out by determining two key economic indicators, Net Present Value (NPV) and Levelised Cost of Energy (LCOE). It was found that a total of about 400 MW of electricity can be generated from the total of about 14,000 tonnes of MSW generated in the country daily. The NPV for a 35.81 MW installed capacity of waste incineration facility was found to be USD 166,410,969.24. However, the LCOE for the 35.81 MW capacity and all others considered was greater than the tariff of electricity for their respective capacities, which means waste incineration facilities are not economically viable ventures in Ghana. The implementation of these facilities in the country would, therefore, need governmental support in the form of subsidies and tax rebates. Three locations were proposed for the piloting of waste incineration facilities in the country, and these locations are in the Accra Metropolitan, Asokore-Mampong Metropolitan, and Sekondi-Takoradi Metropolitan Assemblies. [ABSTRACT FROM AUTHOR]

Improving building efficiency is essential for reducing energy consumption, greenhouse gas emissions, and operational costs. In OECD Countries the average share of the Residential and Commercial Sector for space conditioning accounts for 30–37% of the cumulative final energy use. The current situation is somewhat typical of post-industrialized Countries: while the technology for reducing the external thermal losses and for installing more energy-conscious devices and procedures (including real-time monitoring and better design of the enclosures) is readily available, the cost of such measures is often perceived as excessive for the private user. For this reason, some governments have resolved to launch incentivization campaigns to encourage both private and public actors to invest in building efficiency. This strategy has been successful and its large-scale application -even if enacted on a preliminary basis- led to substantial reductions of the energy load per square meter −50 to 100 kWh/(m2 yr)- so that subsidies and incentives are likely to assume a major role in shaping the energy conversion market. Technologies that are deemed “more environmental benign” or “of strategic interest” will receive institutional funding to promote their implementation, the funds being allocated both to design techniques, new materials and less energivorous devices. Since the funding is usually provided in the form of tax rebates, this approach is not devoid of problems: in fact, previous campaigns at regional and national level in the primary Energy Conversion and in the Transportation Sector have resulted in monumental failures. While it is clearly in the interest of a community to enact a reduction of their final energy uses, it is also true that such incentivization plans, if not properly and carefully implemented, may constitute an economic and ecological “doping” of the market (detail price increases, material and components shortages, etc.). This paper is a follow-up of a previous study conducted in 2021–22 that proposed a rational and thermodynamic-based approach to the issue: in that paper we presented an innovative cost/benefit procedure that considers the primary exergy savings of an “energy saving” intervention and the installation/ operation costs and combines them with the statistically foreseeable savings in the improvement of the building seismic class. The method is intended to serve as a possible model for future policy decisions, and it makes use of the fundamental principles of Exergy Analysis augmented by a conventional cost/ benefit analysis and by basic resilience considerations. The case study analyzed in the previous paper is re-examined here in the light of some recent normative developments the Eco-Sisma-Bonus (“Superbonus”), the incentivization plan launched between 2014 and 2020 by the Italian Government. [ABSTRACT FROM AUTHOR]

In 2012, sales tax was replaced in China with value-added tax (VAT). This study evaluates the effect of this change on service exports. VAT reform was introduced across provinces and service sectors at different times. Hence, our paper identifies the impacts of VAT reform on firms' export behavior by utilizing a difference-in-difference (DID) estimation methodology and finds that VAT reform significantly increases service exports in intensive and extensive margins. The export-enhancing effects are larger for non-state-owned enterprises and firms of larger scale and higher productivity levels. VAT reform alleviates tax magnification and double taxation and effectively promotes the competitiveness of China's service exports. With the complete implementation of VAT reform, alongside the full refund of VAT on exported products, China's service exports would increase by approximately two-and-a-half times. [ABSTRACT FROM AUTHOR]

As health care costs rise in Australia, the affordability of primary care and private health insurance (PHI) are critical concerns. Key questions include whether primary care should be free for all, and what role should PHI play alongside Medicare. The Government spends $6.7 billion on PHI rebates, yet these incentives have limited impact. The Government should reduce public support on PHI and improve primary and preventive care. Primary care should be free for all low‐income people and children regardless of where they live, and cheaper for other population. This can be achieved with the current budget and better policy design. [ABSTRACT FROM AUTHOR]

Problem definition: We study the operations of electric vehicles (EVs) providing frequency regulation services to the electric grid in vehicle-to-grid (V2G) systems. In particular, individually owned EVs collaboratively bid in the regulation market, coordinated by a platform that operates the network of charging equipment. We study how the platform determines optimal pricing incentives for drivers to plug in their EVs, accounting for heterogeneous driving schedules. Methodology/results: We model the platform's pricing optimization problem as a bilevel program: At the upper level, the platform determines hourly rebates for EV owners to plug in their EVs and capacity bids in the regulation market; at the lower level, individual travelers optimize their travel and charging schedules in response to pricing incentives. To account for uncertainties and heterogeneity in regulation market prices and travel patterns, we adopt distributionally robust optimization techniques to formulate the problem as a mixed-integer second-order cone program. We conduct a computational study based on the California Household Travel Survey data set and actual frequency regulation prices. Our results show that the ability to offer time-varying rebates and install workplace chargers can significantly improve the V2G platform's expected profits. Managerial implications: As EV adoption progresses past the nascent stage, V2G business models become more viable. Successful implementation of V2G provides economic incentive for switching to EVs, potentially helps sustain adoption growth, and complements the growth of renewable power by helping stabilize the grid. Our findings shed light on the design of driver incentives for V2G systems. Funding: R. Tang acknowledges support from the National Natural Science Foundation of China [Grant 72201206]. Supplemental Material: The online appendices are available at https://doi.org/10.1287/msom.2022.0133. [ABSTRACT FROM AUTHOR]

The adoption of energy strategies is increasingly crucial for organisations, driven by the need to decrease energy cost and greenhouse gas emissions. The research evaluates the financial and riskrelated factors influencing energy management strategies within South African organisations. The study delved into various financial aspects such as bank loans, corporate sponsorships, government funding, tax rebates and own funding alongside risk factors including disaster, reputational, operational, regulatory, strategic, financial, market, liquidity and credit risks. Using a quantitative non-experimental research design, data was collected through a questionnaire from 142 participants in the financial services industry, yielding a response from 77 individuals. Results indicate a predominant use of internal funding for energy projects, with limited utilisation of external funding options. Financial benefits such as reduced operating costs and potential tax rebates were acknowledged, yet challenges including high capital investment and inadequate finance were highlighted. Furthermore, risk management emerged as integral, although the involvement of risk management departments in energy strategy formulation was limited. Identified risks varied with disaster, reputational and operational risks ranking the highest. The study underscores the need for greater integration of risk management into energy strategy development to effectively address risk exposures. Organisations must balance the approach to energy strategy implementation with the organisational objectives and environmental responsibilities. Further research opportunities exist to explore alternative financing methods and address existing barriers to optimal energy strategy implementation. [ABSTRACT FROM AUTHOR]

This paper investigates whether and how tax and fee support policies at the firm level in China influence the total factor energy productivity of enterprises. Using panel data from Chinese public trading companies for the period 2004–2020, this study employs a panel model for estimation. The findings suggest that tax rebates contribute to the improvement of the total factor energy productivity of enterprises. Specifically, a 1% increase in tax refunds leads to a growth of approximately 0.008% in total factor energy productivity. Robustness tests and endogeneity checks confirm the validity of the results. Heterogeneity analysis reveals that tax rebates have a significant impact on state-owned enterprises, small- and medium-sized enterprises, and non-technology firms in terms of enhancing their total factor energy productivity. Mechanism analysis indicates that tax rebates facilitate firms in alleviating financing constraints and enhancing their innovation capabilities, thereby improving energy efficiency. The research findings of this paper provide empirical support for optimizing policy supply, improving energy usage efficiency, and promoting the development of a globally sustainable economy. [ABSTRACT FROM AUTHOR]

The article focuses on the long-overdue need for reform in the EU budget, highlighting its recognizable structure since the major reform in 1988 and pointing out persistent issues such as spending allocations, lack of flexibility, and disputes over own resources. Topics include the proliferation of off-budget mechanisms, the urgency for governance recasting in light of potential EU enlargement, and the call for a reappraisal of how the EU budget is financed.

Many governments with dual public and private health systems offer subsidies for private health insurance (PHI) with the aim to ease the burden on the public system. Understanding how elderly individuals respond to these PHI subsidies is important because they typically have greater health care needs but often struggle with the affordability of PHI. However, prior studies provide little guidance on this issue because they have mainly focused on the responses to PHI incentives among the general population. This paper leverages a unique age‐specific policy intervention in Australia that provided higher rebates for individuals over the age of 65. Using administrative tax data, we examine how this policy affected PHI take‐up decisions of elderly individuals under an event study difference‐in‐differences framework. We find that higher rebates led to a modest increase in PHI take‐up. The estimated price elasticities of PHI demand were in the −0.1 to −0.2 range in the first 2 years of the policy. Moreover, the demand responses were more elastic among those with low incomes. Our findings indicate that a more targeted subsidy program, specially tailored to low‐income elders, would yield greater effectiveness in increasing PHI take‐up. [ABSTRACT FROM AUTHOR]

The German Parliament has decided to gradually abolish tax relief for diesel in agriculture. Given the asymmetrical importance of agriculture for the economy and climate, this step was long overdue. Regulatory and distributional policy arguments also speak against maintaining the tax relief. [ABSTRACT FROM AUTHOR]

We analyze a multi-period model of capital gains taxation with endogenous prices. Relative to an economy without taxation, a capital gains tax tends to lower prices and increase returns. Abstracting from tax redistribution policies, we find that a taxable investor's welfare falls, a nontaxable investor's welfare rises, and, depending on the tax rate, social welfare may either rise or fall. The taxable investor's tax-timing option increases social welfare but may either increase or decrease tax revenue. Tax rebates for capital losses have little effect on welfare or tax revenue. Implications for empirical asset pricing are identified. [ABSTRACT FROM AUTHOR]

While China was reducing tariffs as part of the WTO accession process, it was also effectively restricting exports in some sectors by reducing the rebates of the value added tax (VAT) for exporters. We use a multi-country multi-sector Ricardian model to examine the extent to which these de facto export tax changes have benefited China and nullified the benefits to the rest of the world of China's trade liberalization. We show that trade liberalization benefited China's trading partners both through an improvement in their terms of trade and through a reallocation of resources from protected imported sectors to exportable sectors. We find that the partial rebate policy of VAT on exports provided a small effect overall on the welfare of China and its trading partners, although some countries lost as much as 2/3 of their gains from China's trade liberalization based on tariffs alone. By solving for China's optimal export taxes, we demonstrate that while certain sectors experienced a movement towards the optimal level of export taxes, others deviated from it. This differential adjustment contributed to the limited welfare effect on China. Interestingly, our results indicate that the export tax policies favored downstream sectors within China. [ABSTRACT FROM AUTHOR]

Export tax rebate (ETR) and inwards foreign direct investment (IFDI) are important driving forces for the steady development of China's export-oriented economy. Based on data from 2004 to 2019, this study puts forward relevant assumptions on constructing a model for empirically analyzing the impact of the ETR on China's IFDI from the perspective of the national and the sub-national. The result demonstrates that there exists a complementary relationship between the ETR and IFDI; the weak lag effect of ETR on IFDI in the eastern, middle, and western regions of China; an explicit impact on the performance in the western region, which lags behind only one period; and no significant lag effect of ETR on IFDI in developed, moderately developed, and underdeveloped regions. On the basis of this evaluation, the conclusion could be achieved that that ETR has a significant effect on IFDI, though there may be differences in the direction and value of the impact. The highlight of this research is to detect the impact of ETR on IFDI by taking China as a case, and achieved that there exist sub-national differences, including the geographical and development-level differences. Plain Language Summary: Export Tax Rebate on IFDI The purpose of this article was to detect the impact of export tax rebates (ETR) on China's Inwards Foreign Direct Investment (IFDI) by considering various types of regional differences. The main methods was to establish econometric model considering of time lag effect and control variable and bring relevant hypothesis, then made panel data model to reveal the impact from perspectives of different regions. The conclusion was that the impact of the ETR on the IFDI generally demonstrated differences in complementarity, lag, and geographical and development levels. The implications was that China should implement different regional ETR policy for achieving larger effect on IFDI. The limitations could be detected from two aspects, which was whether an ETR that lags behind to be adopted being debatable and the adoption of enterprise microdata could effectively examine the impact of ETR on IFDI respectively. [ABSTRACT FROM AUTHOR]

Recent heterogeneous firm literature has revised the basic assumptions of constant marginal costs; markets may thus be complements or substitutes. Using Chinese firm‐level data for 1998–2007, our study utilises the 2004 export tax rebate (ETR) cut as a quasi‐natural experiment to demonstrate how the domestic market may be a fall back for exporters when they encounter exogenous negative export shocks, leading to market‐switching behaviour and higher domestic sales. The market‐switching behaviour significantly intensifies the competition in the domestic market in the affected industries. This crowds out sales of non‐exporters and drives up the probability of market exit of non‐exporters. Consequentially, non‐exporters in industries affected by the negative export shock may enjoy a significantly larger productivity gain compared with their counterparts in other industries, as well as exporters in the same industries. Thus, the negative shocks to the export market result in an indirect pro‐competitive productivity gain for non‐exporters. [ABSTRACT FROM AUTHOR]

This article measures renewable energy firm-level pure innovation efficiency, green productivity, technical efficiency, scale efficiency and total investment efficiency from micro input–output factors using Banker, Charnes and Cooper's (BCC) data envelopment analysis (DEA) approach. Its main novelty is that it clearly explores the effective impacts of government subsidies and tax rebate policies on renewable energy firms' investment efficiency using China's renewable energy firm-level panel data. Our observational findings indicate that between 2001 and 2018, the aggregate degree of total investment performance from renewable energy firms rose steadily before declining. Renewable energy firms had larger ranges of total investment efficiency and size efficiency, and their levels of pure technological efficiency were both greater than 0.457%. At the 16% trust mark, current government subsidies and taxation rebates had dramatically positive effects on pure technological efficiency and total investment efficiency; additionally, government subsidies have a stronger positive impact on total investment efficiency and pure technical efficiency than taxation rebates. Furthermore, the ownership concentrations of renewable energy companies greatly encourage pure technological efficiency, size efficiency and total investment efficiency, and asset returns will significantly increase their average degree of total investment efficiency and pure technical efficiency. [ABSTRACT FROM AUTHOR]

In this paper, we study a family of sales-based rebate mechanisms as an effective tool to implement price discrimination across a population of buyers with correlated heterogeneous valuations on indivisible goods and services. In order to implement such sales-based rebate mechanisms, the seller charges each buyer a fixed price at the time of purchase contingent on a rebate that is a function of the ex post sales volume to be realized at the end of the sales period. The seller declares both a price and a menu of rebates as a function of sales. We show that, when there is a common component of uncertainty in consumers' valuations (to which we refer as the quality of the product), such rebates enable a seller to effectively induce different expected net prices at different valuations. Importantly, this effective price discrimination over valuations is achieved keeping both the base price and the rebate uniform across all buyers. This uniformity of price and rebate across buyers is a key advantage of our proposed rebate mechanism, thereby providing a new mechanism for price discrimination in crowd-based markets. We use tools and techniques from game theory and variational optimization to provide insight into the economics of such mechanisms. In particular, we identify two mechanisms that are monotone functions of the sales volume that are easy to implement in practice and perform well when compared with the much more complex optimal mechanism. We provide a rigorous analysis of the optimal mechanism and discuss practical limitations in implementing the globally optimal design, further demonstrating the efficacy of our proposed monotone mechanisms. This paper was accepted by Gabriel Weintraub, revenue management and market analytics. Funding: This research was supported by a Vannevar Bush Fellowship from the Office of Secretary of State and Army Research Office [MURI Project W911NF-19-1-0217]. Supplemental Material: The data files are available at https://doi.org/10.1287/mnsc.2023.4691. [ABSTRACT FROM AUTHOR]

This paper discusses the micro effect of export stimulus policy. We use the seven rounds of export tax rebates implemented by the Chinese government during the international financial crisis as a natural experiment and explore their impact on the export resilience of firms using the difference-in-differences approach. We find that the export resilience of Chinese enterprises increased by 0.027 standard deviations due to export tax rebates. Further studies confirm that export tax rebates significantly improve export resilience mainly by reducing value-added taxes, expanding production scale, and accelerating the adjustment of export structure. In addition, the positive effect of export tax rebates varies among enterprises and products. These results highlight the critical role of stimulative policies in promoting export resilience. [ABSTRACT FROM AUTHOR]

I give conditions under which changes in private spending are accommodated in general equilibrium exactly like changes in aggregate fiscal expenditure. Under such demand equivalence, researchers can use time series evidence on fiscal multipliers to recover the general equilibrium "missing intercept" of shocks to private spending identified in the cross section. Through the lens of this theory, time series estimates of a fiscal multiplier around one suggest a missing intercept close to zero--an observation that I illustrate with an application to the 2008 tax rebates. I also discuss the robustness of this aggregation approach to plausible violations of demand equivalence. [ABSTRACT FROM AUTHOR]

Background: Precision oncology medicines represent a paradigm shift compared to non-precision oncology medicines in cancer therapy, in some situations delivering more clinical benefit, and potentially lowering healthcare costs. We determined whether employing a companion diagnostic (CDx) approach during oncology medicines development delivers effective therapies that are within the cost constraints of current health systems. R&D costs of developing a medicine are subject to debate, with average estimates ranging from $765 million (m) to $4.6 billion (b). Our aim was to determine whether precision oncology medicines are cheaper to bring from R&D to market; a secondary goal was to determine whether precision oncology medicines have a greater return on investment (ROI). Method: Data on oncology medicines approved between 1997 and 2020 by the US Food and Drug Administration (FDA) were analysed from the Securities and Exchange Commission (SEC) filings. Data were compiled from 10-K, 10-Q, and 20-F financial performance filings on medicines' development costs through their R&D lifetime. Clinical trial data were split into clinical trial phases 1–3 and probability of success (POS) of trials was calculated, along with preclinical costs. Cost-of-capital (CoC) approach was applied and, if appropriate, a tax rebate was subtracted from the total. Results: Data on 42 precision and 29 non-precision oncology medicines from 56 companies listed by the National Cancer Institute which had complete data available were analysed. Estimated mean cost to deliver a new oncology medicine was $4.4b (95% CI, $3.6–5.2b). Costs to bring a precision oncology medicine to market were $1.1b less ($3.5b; 95% CI, $2.7–4.5b) compared to non-precision oncology medicines ($4.6b; 95% CI, $3.5–6.1b). The key driver of costs was POS of clinical trials, accounting for a difference of $591.3 m. Additional data analysis illustrated that there was a 27% increase in return on investment (ROI) of precision oncology medicines over non-precision oncology medicines. Conclusion: Our results provide an accurate estimate of the R&D spend required to bring an oncology medicine to market. Deployment of a CDx at the earliest stage substantially lowers the cost associated with oncology medicines development, potentially making them available to more patients, while staying within the cost constraints of cancer health systems. [ABSTRACT FROM AUTHOR]

Purpose: Reportedly, green roof (GR) makes a significant contribution towards a truly sustainable-built environment; however, its implementation is yet to hit a sufficient level in developing countries. Thus, this study assesses GR implementation strategies in developing countries by providing a comparative analysis through experts in Kazakhstan, Malaysia and Turkey. Design/methodology/approach: The study adopts a four-step methodological approach to achieve the research aim: literature review, focus group discussion, fuzzy analytical hierarchy process (FAHP) analysis and correlation analyses. First, a literature review followed by a focus group discussion is used to determine 18 (out of 25 initially) strategies for the selected context and these are classified into three categories: governmental and institutional support, knowledge and information and policy and regulation. Afterward, the identified GR strategies are evaluated using the FAHP with the data gathered from the experts in the countries studied. Finally, correlation analyses were used to observe the strength of agreement between the assessments of experts from the included countries. Findings: The findings indicate that financial incentives, low-cost government loans and subsidies and tax rebates are the essential strategies for the wider adoption of GR. Evaluating the policy and regulations strategies also showed that mandatory GR policies and regulations and better enforcement of the developed GR policies are ranked as the most prominent strategies. The findings show a low level of agreement among respondents from Kazakhstan, while there is a high level of agreement between the experts in Malaysia and Turkey. Research limitations/implications: The research contribution is twofold. First (research implication), the study identifies the strategies through a complete literature review. Second, the identified strategies are evaluated through the lenses of experts in three developing countries which are hoped to provide (practical contribution) a better understanding of the most effective strategies that require attention and enable the frontline stakeholders (particularly government authorities) to focus on them. Originality/value: The study findings provide a good point of departure to explore the strategies for broader adoption of GRs in developing economic setting. [ABSTRACT FROM AUTHOR]

The present paper investigates the correlation between the French tax rebate triggered by the birth of a child and the probability to bring forward childbirth from late December to early January. Using administrative tax data from 2010 to 2016, I precisely simulate the corresponding tax rebate for households in which a child was born from December 24 to January 7. Contrary to prior research, I do not find clear evidence of a significant link between the tax rebate brought about by a supplementary dependent child on the tax return and the probability of a late December birth. Either the amount of the incentive may not be large enough or households may not correctly anticipate the corresponding tax rebate. Nevertheless, a small learning effect is present. According to my results, a significant correlation between the tax rebate and the probability of having a child in December is observed among the wealthiest half of households with at least two children already claimed that also benefit from a relatively large tax rebate. However, this seems to be due to a spurious correlation. Instead, the results could reflect the willingness of parents to avoid childbirth on a public holiday. [ABSTRACT FROM AUTHOR]

In response to the first wave of the COVID-19 pandemic, the U.S. federal and state governments enacted various supports for childcare, including expanded funding and flexibility for the childcare market, expanded paid leave, more generous and inclusive unemployment insurance, loans available to childcare providers, and tax rebates. In this Article, we trace the distributional consequences of these interventions, focusing on one community in the Boston metropolitan area. We examine whether these interventions support access to childcare through the state, market, and family, in particular considering the make-up of the community's population, which is largely immigrant and of low socio-economic status. Based on observations about how the COVID-era interventions have shifted patterns of childcare access, we offer reflections on welfare capitalism as an analytical framework when considering the distribution of support for care in a Latinx immigrant community. We conclude with suggested interventions to support the women of color whose undercompensated labor underlies systems of care. [ABSTRACT FROM AUTHOR]

Copyright of FinanzRundschau is the property of De Gruyter and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

For over half a century, payers could deduct alimony payments while, conversely, recipients were required to include them in their income. The seeming symmetry of each dollar deducted being paired with a dollar included appears neatly balanced and consistent with the general tax principle of taxing accretions to wealth. Yet the superficiality of this coherence belied the more complex reality of the tax treatment of alimony as an area that confused taxpayers while simultaneously frustrating core elements of tax policy. As part of the Tax Cuts and Jobs Act of 2017, Congress upended the tax treatment of alimony, making it neither deductible for the payer nor includable by the recipient. The legislative history regarding the need for this reform is virtually nonexistent. To fill this important gap, this article offers rationales for this legislative initiative. It then argues that this change appropriately places the tax responsibility on the payer and, by doing so, enhances tax compliance while easing administrative tax-reporting burdens. [ABSTRACT FROM AUTHOR]

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I examine how income taxes affected individuals' marriage decisions in the mid-twentieth century using variations across U.S. states arising from the Revenue Act of 1948. Prior to the Act, the federal income tax produced marriage "bonuses" in some states, but marriage was tax neutral in the rest of the states. The Act extended the same marriage bonuses to the remaining states, without changing the regime in those states already enjoying bonuses. I use a difference-in-difference design to analyze the effect of the Act. I enrich the framework with an additional control group: lower-income Americans. For this group, marriage was income tax neutral throughout the period in every state. Using this additional control group, I employ a triple-difference design. In both the difference-in-difference and triple-difference designs, I find that extending marriage bonuses increased marriage rates among eligible men substantially. [ABSTRACT FROM AUTHOR]

Continuous fiscal imbalances fuel the future increase of tax burdens with significant damping effects on household consumption. This paper investigates how the distribution of income tax and expenditure tax varies across population groups in South Africa using provincial level data spanning the period from 1995 to 2017. Empirical findings suggest that besides economic conditions, demographic changes exert a robust effect on tax composition and such association is not only subject to heterogeneity but also to spatial dependence. Results from spatial panel error models indicate that economic growth, trade openness and population ageing fuel spending taxes as they exhibit a negative impact on the income to expenditure tax ratio while output gap and population development help raise income taxes. This confirms that South African elderly population endures the tax load as population ages due to the excess demand for goods and services that spurs expenditure rather than income taxes. Therefore, a tax rebate policy on elderly purchase could be considered to minimise old age tax burden, which in turn, contributes to fiscal equity. [ABSTRACT FROM AUTHOR]

This paper proposes a model to jointly explain two stylized facts observed in the recent empirical literature—the existence of a significant size of wealthy hand-to-mouth consumers and negative marginal propensities to consume associated with housing upgrades. The key ingredients of the model are a realistic set of housing choices, sizable down payment requirements, transaction costs, and endogenous borrowing constraints. Moreover, in the presence of unanticipated income shocks, this richness in marginal propensities to consume has significant implications for aggregate consumption and helps explain the puzzling increase in savings by low net worth households observed during the Great Recession as well as the consumption responses to recent tax rebates. [ABSTRACT FROM AUTHOR]

This article evaluates specific powers, policies and processes (which includes the tax refund process, the pay-before-argument rule and the power of substitution) of the Nigerian tax system against the backdrop of the right to property and the right to life enshrined in the Constitution of the Federal Republic of Nigeria 1999 (CFRN). It argues that these rights are infringed on by Federal Inland Revenue Service (FIRS) powers, policies and processes, and it concludes that the recognition of these rights in the course of the administration of the tax system has implications on compliance, revenue and the development of Nigeria. [ABSTRACT FROM AUTHOR]

Maritime carbon emissions, contributing to approximately 2.89% of global anthropogenic CO 2 emissions, have prompted governments to actively promote a low-carbon shift in the freight forwarding sector. The effect of carbon tax implementation on guiding freight forwarders towards offering more eco-friendly freight forwarding services and facilitating a low-carbon transition remains unclear. This study categorizes freight forwarding services models based on delivery speed, ranging from fast to slow, and environmental friendliness, from low to high. It examines scenarios involving a singular carbon tax and consumer rebates, establishing a freight forwarder model without carbon tax constraints (N-T model), a singular carbon tax model for freight forwarders (C-T model), and a combined carbon tax-consumer rebate model (C-C model). The findings suggest that carbon tax pressures from regulatory bodies ultimately affect consumers; thus, under tax cost pressures, freight forwarders must adapt their shipping strategies. A shift towards more eco-friendly freight forwarding services occurs if the rate of demand growth is less than the increase in fixed delivery costs, and an optimal tax rate can drive this shift. Conversely, when the perceived rebate difference between any two services surpasses a certain threshold, eco-friendly freight forwarding services are consistently favored. In the absence of such conditions, a well-designed carbon tax policy is essential to steer freight forwarders toward reducing carbon emissions. [ABSTRACT FROM AUTHOR]

• A framework to assess equilibrium accessibility for import/export containers in the hub-and-spoke transport network is introduced. • Optimal investment and operational strategies for the port and shipping under the International Land-Sea Trade Corridor are determined. • Potential markets for the port and shipping and optimal routing choices for shippers are identified. • Computational errors are reduced by transitioning from a multi-parameter to a single-parameter gravity model. In Asia, the international land-sea trade corridor (ILSTC) is undergoing significant expansion, notably through the China Railway Express (CR-Express) and the export tax rebate at the departure port with Port of Yangpu as gateway. This expansion plays a pivotal role in shaping the accessibility for import/export containers in the hub-and-spoke transport network (A-IEC-HSTN). This paper delves into analyzing the ILSTC's impacts and introduces an approach assessing the equilibrium accessibility for import/export containers in the hub-and-spoke transport network (EA-IEC-HSTN), tailored to consider the impact of emerging policies like ILSTC. To examine how ILSTC affects transport accessibility and shapes stakeholder behaviors, a tri-level model is developed which synergistically combines the port investment decision model, liner shipping schedule design model, and multinomial logit model (MNL), all enriched by the incorporation of a gravity model. This tri-level model is combined with a classic transport accessibility framework to quantify EA-IEC-HSTN in the context of ILSTC when no stakeholders can gain more profit through changing their activities. This study offers a comprehensive examination of the EA-IEC-HSTN, the strategic investment of the Port of Yangpu, the liner shipping schedule and the associated incremental export freight demand. This paper markedly advances the understanding of trade transport network dynamics, offering critical insights that are invaluable for stakeholders and policymakers in the realm of international trade and transport policy. [ABSTRACT FROM AUTHOR]

Using data from the European Social Survey (2002–2018), we examine the rise of the far right in nine east-central European states in the last half of their third post-communist decade: Bulgaria, Croatia, Czechia, Hungary, Latvia, Lithuania, Poland, Slovenia, and Slovakia. For many in the region in 2018 religion remained a cornerstone of national identity even as the nation struggled with the institutional demands of democracy in the aftermath of a global economic recession and the 2015 migration crisis. While far-right parties had many paths to success, our results suggest that respondents affiliated with a religious denomination were more likely to vote for the authoritarian populist party and the most religious were even more likely. Religion served as a tool of illiberalism. Because the appeal of populist parties that combine exclusionary anti-immigrant and anti-diversity rhetoric with generous benefits for citizens may transcend regional historical and political boundaries, the role of religiosity in these findings merits further consideration. Autocratic leaders in some states used Church support for traditional culture and social welfare payments to families and tax rebates to secure electoral victories for themselves and guide party establishments and the civil society away from judicial independence and a free press that could expose corruption. It is not inconceivable that authoritarian populism propped up by ethno-nationalism and social welfare benefits could gain sufficient scope, direction, and durability to undermine the European Union and serve as a beacon of intolerance. [ABSTRACT FROM AUTHOR]

This paper introduces a quantile regression estimator for panel data (QRPD) with nonadditive fixed effects, maintaining the nonseparable disturbance term commonly associated with quantile estimation. QRPD estimates the impact of exogenous or endogenous treatment variables on the outcome distribution using "within" variation in the instruments for identification purposes. Most quantile panel data estimators include additive fixed effects which separates the disturbance term and assumes the parameters vary based only on the time-varying components of the disturbance term. QRPD produces consistent estimates for small T. I estimate the effect of the 2008 tax rebates on the short-term household consumption distribution. [ABSTRACT FROM AUTHOR]

The mission of non-business entities is to provide publicly beneficial services. The possibilities of financial support of these entities originate from the system of public finances (subsidies), monetary non-public sources (donations), own resources, and indirect support. All the above-mentioned financial supplies belong to basic streams that can furnish non-profit organizations. In some countries the financial sources are broadened by tax rebates. Taxpayers redirect a share of paid income tax to a selected organization that is not business-based. A State is able to respond to these situations, for instance it can expand or narrow donations either in general or to certain entities. The overall consideration on the effectiveness of the use of individual monetary instruments might differ from the point of view of a State as well as from non-profit organizations. [ABSTRACT FROM AUTHOR]

Context: Governments have attempted to increase clinical trial activity in their jurisdictions using a range of methods including targeted direct funding and industry tax rebates. The effectiveness of the different approaches employed is unclear. Objective: To systematically review the effects of direct government financing interventions by allowing companies to reduce their tax payable on clinical trial activity. Data sources: Pub Med, Scopus, Sage, ProQuest, Google Scholar and Google were searched up to the 11th of April 2022. In addition, the reference lists of all potentially eligible documents were hand searched to identify additional reports. Following feedback from co-authors, information on a small number of additional interventions were specifically sought out and included. Data extraction: Summary information about potentially eligible reports were reviewed independently by two researchers, followed by extraction of data into a structured spreadsheet for eligible studies. The primary outcomes of interest were the number of clinical trials and the expenditure on clinical trials but data about other evaluations were also collected. Results: There were 1694 potentially eligible reports that were reviewed. Full text assessments were done for 304, and 30 reports that provided data on 43 interventions were included– 29 that deployed targeted direct funding and 14 that provided tax rebates or exemptions. There were data describing effects on a primary outcome for 25/41 of the interventions. The most common types of interventions were direct funding to researchers via special granting mechanisms and tax offsets to companies and research organisations. All 25 of the studies for which data were available reported a positive impact on numbers and/or expenditure on clinical trials though the robustness of evaluations was limited for many. Estimates of the magnitude of effects of interventions were reported inconsistently, varied substantially, and could not be synthesised quantitatively, though targeted direct funding interventions appeared to be associated with more immediate impact on clinical trial activity. Conclusion: There is a high likelihood that governments can increase clinical trial activity with either direct or indirect fiscal mechanisms. Direct funding may provide a more immediate and tangible return on investment than tax rebates. [ABSTRACT FROM AUTHOR]