Dual income tax systems can suffer from income that shifts from progressively taxed labour income to capital income, which is taxed at a lower, flat rate. This paper empirically examines the 1993 ...Finnish dual income tax reform, which radically reduced the marginal tax rates on capital income for some, but not all, taxpayers. We measure how overall taxable income and the relative shares of capital income and labour income reacted to the reform. We find that the reform led to a small positive impact on overall taxable income, but part of the positive response was probably offset by income shifting among the self-employed.
Este artigo analisa o período de governo do presidente Itamar Franco (1992-1995), com vistas a identificar sua atuação no campo educacional, mais precisamente no que se refere à inclusão da pessoa ...com deficiência no sistema educacional comum. Em função disso, desenvolveu-se uma pesquisa qualitativa, voltada à análise de conteúdo de fontes primárias (documentos nacionais) e fontes secundárias (produções científicas) que permitiu confirmar a hipótese de que, mesmo em curto espaço de tempo, e desafiado por uma sucessão de problemas políticos, econômicos e sociais, a administração reinseriu a educação ao cerne da agenda governamental, mas não conseguiu avançar em favor da construção de um sistema educacional inclusivo.
In this article, we provide a critique of previous estimates of war-related deaths from Bosnia and Herzegovina and propose an analytical framework and a new estimate of such deaths. Our assessment is ...concentrated on civilian victims, whose death (or disappearance) can in a straightforward manner be linked with war operation. The estimate is based on carefully selected sources analysed jointly at the level of individual records, allowing for identity verification of victims, elimination of duplicates within the sources and exclusion of records overlapping between the sources. Although we can argue that our estimate is much better founded than any other estimate ever obtained, it is still incomplete and should be seen as work in progress. /// Cet article présente une analyse critique des estimations existantes sur les décès dus à la guerre en Bosnie-Hérzégovine et propose un cadre d'analyse et une nouvelle estimation de ces décès. Cette estimation porte sur les victimes civiles, dont la mort (ou la dispartition) peut être reliée d'une façon directe aux opérations de guerre. Elle repose sur une sélection rigoureuse de sources, traitées conjointement au niveau des données individuelles, ce qui permet la vérification de l'identité des victimes, l'élimination des doublons au sein de chaque source et l'identification des cas présents dans plusieurs sources. Même si cette estimation est sans aucun doute meilleure que toutes celles déjà publiées, elle reste incomplète et doit être considérée comme une étape provisoire dans un travail encore en cours.
The fall of the United Nations 'safe area' of Srebrenica in July 1995 to Bosnian Serb and Serbian forces stands out as the international community's most egregious failure to intervene during the ...Bosnian war. It led to genocide, forced displacement and a legacy of loss. But wartime inaction has since spurred numerous postwar attempts to address the atrocities' effects on Bosnian society and its diaspora. Srebrenica in the Aftermath of Genocide reveals how interactions between local, national and international interventions - from refugee return and resettlement to commemorations, war crimes trials, immigration proceedings and election reform - have led to subtle, positive effects of social repair, despite persistent attempts at denial. Using an interdisciplinary approach, diverse research methods, and more than a decade of fieldwork in five countries, Lara J. Nettelfield and Sarah E. Wagner trace the genocide's reverberations in Bosnia and abroad. The findings of this study have implications for research on post-conflict societies around the world.
We investigate a pervasive voluntary disclosure practice—managers including balance sheets with quarterly earnings announcements. Consistent with expectations, we find that managers voluntarily ...disclose balance sheets when current earnings are relatively less informative, or when future earnings are relatively more uncertain. Specifically, balance sheet disclosures are more likely among firms: (1) in high technology industries; (2) reporting losses; (3) with larger forecast errors; (4) engaging in mergers or acquisitions; (5) that are younger; and (6) with more volatile stock returns. This is consistent with managers disclosing balance sheets in response to investor demand for value relevant information to supplement earnings.
We investigate investment managers' use of derivatives by comparing return distributions for equity mutual funds that use and do not use derivatives. In contrast to public perception, derivative ...users have risk exposure and return performance that are similar to nonusers. We also analyze changes in fund risk in response to prior fund performance. Changes in risk are substantially less severe for funds using derivatives, consistent with the explanation that managers use derivatives to reduce the impact of performance on risk. We provide new evidence regarding the implications of cash flows and managerial gaming for the relation between performance and risk.
Previous work has claimed that monopoly power facilitates the provision of credit, because monopolists are better able to enforce payment. Here, we argue that if relationship-specific investments are ...required by borrowers to establish creditworthiness, monopoly power may reduce credit provision because holdup problems ex post will deter borrowers from investing in establishing creditworthiness. Empirically, we examine the relationship between monopoly power and credit provision, using data on the supply relationships of firms in five African countries. Consistent with the up-front investment story, we find that monopoly power is negatively associated with credit provision, and that this correlation is stronger in older supplier relationships. Because the data include several observations per firm, we are able to utilize firm fixed effects, thus netting out unobserved firm characteristics that may have been driving results in earlier studies.
This paper proposes a framework for inequality decomposition in which inequality of the target variable, e.g., income, can be decomposed into components associated with any number of determinants or ...proxy variables in a regression equation. The proposed framework is general enough to be applied to any inequality measure and it imposes few restrictions on the specification of the regression model. This generality is illustrated by quantifying root sources of regional income inequality in rural China using a combined Box–Cox and Box–Tidwell income-generating function. Journal of Comparative Economics32 (2) (2004) 348–363.
The aim of this paper is to analyse the impact on firms' productivity of innovative activities and agglomeration effects among firms belonging to Marshallian industrial districts and the possible ...joint effect of these two forces. We study a sample of 2,821 firms active in the Italian manufacturing industry in the period 1992-1995. Our analysis uses an original data set based on three different Istituto Nazionale di Statistica statistical sources--Community Innovation Survey, Archivio Statistico delle Imprese Attive (Italian Business Register), and Sistema dei Conti delle Imprese (Italian Structural Business Statistics)--to estimate an "augmented" Cobb-Douglas production function to account for the impact of technological innovations and district-specific agglomeration effects on a firm's productivity growth. Our data set allows us to distinguish between product and process innovations, thus, through econometric analysis, we hope to achieve a better understanding of which of these two types of innovative activities benefits most from participation in an industrial district. Our empirical results show that belonging to an industrial district and making product innovations are key factors in the productivity growth of firms and that product innovations appear to have a greater effect on the economic performance of district rather than non-district firms.
The article looks at the narration of ethnocide through a comparative reading of two contemporary Bosnian novels (Kljucanin's Prieevalec and Karahasan's Nocni shod) about the Bosnian War (1992-1995) ...against the historical and literary backdrop of other selected novels that thematize nationalisms in the Yugoslav Wars and their effects. The comparison reveals recourse to testimonial discourse and the attendant use of "non-mimetic" narrative strategies of temporality ("circular," "melded") as a common narrative strategy. These are attended, moreover, by the specific treatment of the motif and theme of "the spectre," which evokes the Islamic religious context and the cultural-historical embeddedness of the narrative and which at the same time facilitates the intrusion of the fantastic or even a reading in the magical realist code.
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