The Potential Role For CDFIs in the Opportunity Zones of the Investing in Opportunities Act (IIOA)

The Opportunity Zones legislation was designed to mobilize new levels of capital into low- and moderate-income (LMI) communities – areas that have historically been overlooked and underserved by mainstream capital markets. As longstanding financial partners to LMI communities, Community Development Financial Institutions (CDFIs), it would seem, are positioned to play a pivotal role in the Opportunity Zones ecosystem. Yet the legislation presents a challenge on that front. As the law dictates, the mechanism through which Qualified Opportunity Zone Fund investments must be made are equity instruments, while CDFIs tend to operate more on the lending side. For this reason, the CDFI industry has struggled to determine exactly how it can harness the potential power of the Opportunity Zones tax incentive to advance their efforts to support LMI communities. This report, then, is timely. As our partners at the University of New Hampshire’s Center for Impact Finance show in the pages that follow, there is indeed a role for CDFIs in the emerging Opportunity Zones space – or, more accurately, several potential roles, both financial and non-financial alike. Enterprise is proud to support this report and is grateful for its contribution to the field. It is now up to us, as CDFIs and mission-aligned partners, to convert the ideas held within this report into action. In so doing, we can help realize the original intent of the Opportunity Zones legislation: to responsibly direct significant capital into communities that have been financially marginalized for too long

Forecasts 1980 : a consensus for a recession

An abstract for this article is not availableForecasting ; Federal Reserve Bank of Richmond

Japanese monetary policy: a quantity theory perspective

Monetary policy ; Japan

Housing Tenure in Ireland

This paper investigates the sources of the extremely high level of owner occupation in Ireland. After using census data to explore the evolution of this phenomenon, the paper makes a cross-country comparison of owner occupation within the EU-15. Explanations are found for the high level of owner occupation that go beyond fiscal privilege to include wider microeconomic factors, as well as historical factors. Within the EU-15, the Irish housing stock is exceptional not just in the high incidence of owner occupation, but also in the small number of dwellings relative to population.

Management of the Payment Ability of the Company in Connection with the Risks of Foreign Exchange Rates

Diplomová práce se zabývá faktory ovlivňující společnosti, které podnikají na globálním trhu a jsou vystaveny rizikům, která přinášejí výkyvy ve směnných kurech. Zabývá se také prozkoumáním motod analýzy vývoje směnných kurzů a metod ochrany proti těmto rizikům.The aim of this Thesis is to explore factors that influence companies which conduct business on global markets in conjunction with the risks coming from foreign currency exchange rate changes. The aim is also to review methods of analysis of exchange rate development and methods that can be used for hedging against foreign exchange exposure.

Macroeconomics and Growth Policies

This United Nations Background Note on Macroeconomics and Growth provides practical guidance on how to operationalize alternative equitable and employment-generating macroeconomic and growth policies in National Development Strategies. This Policy Note has been developed in cooperation with UN agencies, and has been officially reviewed by distinguished academics/ development specialists such as Jose Antonio Ocampo, Jomo K.S. and Nobel Laureate Joseph Stiglitz.macroeconomics, growth, development planning

Determining an Asset\u27s Tax Basis in the Absence of A Meaningful Transfer Tax Regime

Until recently, in those circumstances where there was a valuation range with respect to a particular asset, executors faced a choice: among estates subject to the estate tax, declaring a high value would increase the estate tax liability; however, due to the Internal Revenue Code\u27s basis equal to fair market value rule applicable at death, declaring a low value would expose heirs to a greater capital gains tax on subsequent asset disposition. Because the estate tax rates were higher and that tax was immediate (as opposed to deferred until a later sale by the heir), executors typically minimized asset values, with the corresponding effect of tax basis diminishment. This commonplace strategy thus negated the possibility that taxpayers might exploit the basis equal to fair market rule. But this is often no longer the case. Through a series of exemption level increases, tax rate reductions, and other reforms, Congress has gutted the nation\u27s transfer tax system. What remains is a teetering transfer tax system that applies only to a handful of the wealthiest taxpayers. For the rest, the transfer tax system provides no disincentive to executors from assigning the highest defensible valuations to a decedent\u27s assets, opening the opportunity to capitalize upon the basis equal to fair market value rule. Unfortunately, the I.R.S. lacks the tools and resources to combat this practice. To preserve the integrity of the capital gains tax and the revenue that it produces, Congress must therefore intercede

Soros on International Capital Markets and Developing Economies: Multiple Equilibria and the Role of Policy

George Soros' views on financial markets are complex and at odds with most of the economics profession, marking him as an intellectual iconoclast. This paper explores Soros' thinking about financial markets, with special emphasis on his views regarding the shortcomings of the current international financial system and its treatment of developing countries. His thinking on developing countries and the international financial system is represented in terms of a model of multiple equilibria. The model is then applied to analyze Brazil's current financial problems, and policies for escaping the current "bad" high interest rate equilibrium are explored. Soros' analysis of financial markets and Brazil's financial predicament are suggestive of how Brazil might escape its current high interest rate trap. More broadly, Soros' analysis of financial markets suggests a need for policy makers to reconsider how these markets operate, which may in turn result in rethinking the role and relevance of capital controls.

CPA\u27s guide to estate planning techniques for the closely-held business owner

https://egrove.olemiss.edu/aicpa_guides/1447/thumbnail.jp

Demand for International Reserves: A Quantile Regression Approach

I estimate the determinants of the demand for international reserves using quantile regressions. Employing a dataset of 96 developing nations over the period of 1980-1996, I find considerable differences at different points of the conditional distribution of reserves. The ordinary least squares estimates of elasticities that were found to be insignificant in previous studies become statistically significant at various quantiles of the reserve holding distribution. In particular, I find that the coefficients of interest rate differential and volatility of export receipts are significant and have the signs predicted by the traditional reserve models, but only for those nations that hold the highest amount of reserves. In contrast, the flexibility of the exchange rate does not seem to be an important factor for the nations that are located at the tails of the distribution.International reserves; Quantile regression; Demand for reserves; Reserve policy