Estimating Policy‐Corrected Long‐Term and Short‐Term Tax Elasticities for the United States, Germany, and the United Kingdom

2021 ◽  
Author(s):  
Bernd Hayo ◽  
Sascha Mierzwa ◽  
Umut Ünal
Author(s):  
Thomas Klammer ◽  
Neil Wilner ◽  
Jan Smolarski

Capital expenditures can be crucial to firms long-term success, especially in a complex global environment. As companies increasingly compete in the global market place, it is important to study project evaluation processes from an international perspective. Capital investments involve substantial monetary commitments and risks that affect long-term firm profitability and influence capital allocation decisions in the future. Survey research in the area of capital expenditure analysis has been extensively done in both the United States [US] and the United Kingdom [UK]. This research is the first comparative survey of practices in both countries that we are aware of. A direct comparison of the use of project evaluation, management science, and risk management techniques in the two countries is made. The survey instrument used is an adaptation of the Klammer [1970] instrument that has been used repeatedly in surveys of American firms. This is the first time that it has been applied to British firms. The use of a common instrument allows for more meaningful comparisons. The samples consisted of 127 American and 59 British firms with sales of at least $100 million and capital expenditures of at least $10 million. Preliminary results indicate a continued extensive use of discounted cash flow techniques by US firms. Techniques such as payback or urgency continue to be used, but to a lesser degree than discounting. Firms in the UK also make extensive use of discounting but do so to a lesser degree than their American counterparts. Payback is widely used in the UK. Risk management techniques are widely used in both countries, with sensitivity analysis being the most popular technique in both countries. Extensive use of technical and administrative procedures, such as detailed budgets, standardized forms and post-audits, are evidenced in both countries. The paper offers reasons that have to do with organizational structure and form, as well as market differences, to explain our results.


2020 ◽  
Vol 13 (2) ◽  
pp. 19-47
Author(s):  
Abelardo Rodriguez

Brexit and America First are undeniable examples of a return to state-based politics. This article examines the dichotomy of identity and the state, which has given rise to imperial nostalgia. Nevertheless, the decisions of the elites and the dominant majorities may lead to the fragmentation of the United Kingdom. London has shown itself to be weak in the face of China, Russia, and India and it is not clear if, over the long term, it will be influential in the global political struggles in which the latter countries are challenging the power of the United States. There are even doubts as to whether the United Kingdom can articulate a strategic alliance with the United States, due to their respective differences over relations with China and Russia. The dispute for world hegemony is also being challenged by the forces of surveillance capitalism, which not only threatens regional cooperation and immigration, but also the ecosystem and the very future of the species.


1978 ◽  
Vol 22 ◽  
pp. 64-133
Author(s):  
R. J. Sansom

Permanent Health Insurance is essentially a practical subject because, more so than in any other line of long-term business, an office is virtually in the hands of the policyholder once they have issued the contract. Of course a life assurance policyholder can always precipitate a claim, but this is rather a drastic move! How much easier merely to stay off work. And as Dr Peter Taylor wrote in 1974, “The time has come to admit quite openly that medical certificates are now, for all practical purposes, issued on demand.” (1) If we ever see in the United Kingdom the developments in medical malpractice suits current in the United States it is difficult to visualize any doctor being prepared to contradict a patient when the latter says he feels unfit to work.


2003 ◽  
Vol 20 (3-4) ◽  
pp. 46-82
Author(s):  
Fathi Malkawi

This paper addresses some of the Muslim community’s concerns regarding its children’s education and reflects upon how education has shaped the position of other communities in American history. It argues that the future of Muslim education will be influenced directly by the present realities and future trends within American education in general, and, more importantly, by the well-calculated and informed short-term and long-term decisions and future plans taken by the Muslim community. The paper identifies some areas in which a wellestablished knowledge base is critical to making decisions, and calls for serious research to be undertaken to furnish this base.


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