Economic Fallouts Research Articles

Reforming an asymmetric union: On the virtues of dual tier capital taxation

The tax competition for mobile capital, in particular the reluctance of small countries to agree on measures of tax coordination, has ongoing political and economic fallouts within Europe. We analyse the effects of introducing a two tier structure of capital taxation, where the asymmetric member states of a union choose a common, federal tax rate in the first stage, and then non-cooperatively set local tax rates in the second stage. We show that this mechanism effectively reduces competition for mobile capital between the members of the union. Moreover, it distributes the gains across the heterogeneous states in a way that yields a strict Pareto improvement over a one tier system of purely local tax choices. We also discuss the effects of diverging capital endowments within the union and capital flows to third countries.

Application on Solar, Wind and Hydrogen Energy - A Feasibility Review for an Optimised Hybrid Renewable Energy System

Present status of development of the energy systems, like solar, wind and of Hydrogen use as renewable energy sources, have been examined in ascertaining the scope of their application from techno-economic viability. Efficiency rating of different generations of PV cells with cost component and scope of their use, including practical application and economic fall outs thereby, were also spelt out from case study. Cost of PV module being shown to be the main contributor, deciding the economy of PV – based power generation scheme, the methodology of determining its total requirement could also be shown. Economy evaluation of solar PV and solar heating (solar cooker, solar pond, etc.) were also assessed stating their merits and demerits. Different aspects on evaluation of economy for off-shore and on-shore wind energy for developing a wind farm at a particular site were assessed. The scope of availing the wind energy value /sq. m. at a concerned site for a particular wind speed (measuring it at anemometer height and converting to its value at the hub height), could also be ascertained. Necessary study on the economy of hydrogen production by splitting water (electrolysis) was made and was noted that the OTEC (ocean thermal energy conversion system) generated electricity would be the best cost-effective method, mainly because of its prospect of earning huge royalty from its different by-products. On examination of H2-fuel cell combine as transport fuel, it could be shown that a single 100 MW OTEC can cater to 30 hydrogen refuelling stations, each with 250 vehicle movement/day. Feasibility study on optimised hybridization of the combination of PV-wind and H2, for uninterrupted power supply with methodology on resource assessment at concerned sites, particularly for PV and wind energy with economic fall outs, could be ascertained. Grey areas of research in exploring acoustic energy is also discussed.

On the Economic Effects of Music and Opera Festivals

The chapter describes the different techniques that may be used to measure the short-term economic fallouts of cultural events and, in particular, of music and opera festivals. It tries to distinguish failsafe methods—which are unfortunately not always easy to use—from more doubtful ones, in particular contingent valuation and interviews—which lead to exaggerated evaluations. Examples are provided in each case. We also suggest a new and inexpensive method to evaluate the relative numbers of visitors (by country of origin), which does not suffer from the exaggerations provided by contingent valuation and interviews.

Public property management in Italian municipalities

PurposeThis article aims to present an overview of the main issues related to public real estate management in Italian local governments and to define a reliable approach for the employment of real estate properties during the time.Design/methodology/approachThe research defines a theoretical framework that takes under consideration the “key variables” that affect the strategic management of a real estate asset portfolio. The suggested approach may help public managers in the decision‐making process, enhancing the performance of the organization and the accountability in favor of the stakeholders.FindingsThe results demonstrate that there are still several omissions in the management of these assets and that strategies adopted have not been centered on a preliminary analysis of the financial, economic and social fallouts in the mid‐long term, mainly answering to short‐term political needs and budgetary constraints. Unlike experiences developed in other European countries, in Italy the main answer was the divestment of real estate assets, assumed as a “first best solution”.Practical implicationsThe article suggests a systemic and multidimensional approach for the management of a real estate portfolio and aims at developing a depth of knowledge in a field such as public property management, which can still be considered essentially unexplored by Italian literature.Originality/valueThe paper emphasizes the strategic relevance of the subject for politicians, managers, technicians and researchers involved in the management of a real estate portfolio.