Fiscal Reform and its Firm-Level Effects in Eastern Europe and Central Asia

This paper reports the first empirical evidence that fiscal reform efforts in transition countries have positive effects. Using the EBRD BEEPS I and II data, reported in 1999 and 2002, rigorous econometric models are estimated showing that the share of bribes paid to tax collectors is reduced in countries with more extensive fiscal reforms. This effect controls for selection bias in the likelihood that firms are required to make unofficial payments to tax authorities. On the basis of this evidence, we now have some confidence in the success of fiscal reform efforts. In addition, we have insight regarding what forms of fiscal reform may be more successful as the share of revenues generated from direct taxes (both personal and corporate) has an impact on tax bribes.http://deepblue.lib.umich.edu/bitstream/2027.42/40186/3/wp800.pd

Pioneer Anomaly and the Helicity-Rotation Coupling

The modification of the Doppler effect due to the coupling of the helicity of the radiation with the rotation of the source/receiver is considered in the case of the Pioneer 10/11 spacecraft. We explain why the Pioneer anomaly is not influenced by the helicity-rotation coupling.Comment: LaTeX file, 1 figure, 6 pages, v2: note and figure added at the end of the paper, to be published in Phys. Lett.

A Test of Weak-Form Market Efficiency in Australian Bank Bill Futures Calendar Spreads

This paper demonstrates how the presence of a lower interest rate expectations detected in short-term interest rate futures during the 1990’s allowed arbitrage profits when trading intra-commodity spread differentials on the Sydney Futures Exchange’s 90 Day Bank Accepted Bill futures contract. Fama’s (1970) hypothesis on market efficiency cannot be accepted for the test period as statistically significant gross profits were generated by a naïve strategy. The EMH had greater predictive power once transactions costs were deducted. Furthermore, the EMH remained unable to be accepted after the allowance of generous transaction costs.

Do research assessment exercises raise the returns to publication quality? Evidence from the New Zealand market for academic economists

Many countries have introduced research assessment exercises to help measure and raise the quality of research in their university sector. But there is little empirical evidence on how these exercises, such as the Quality Evaluation of the Performance Based Research Fund (PBRF) in New Zealand and the recently aborted Research Quality Framework (RQF) in Australia, affect the signals that researchers observe in the academic labour market. Since these assessments aim to raise research quality, individual academics should perceive rising returns to publication quality at the expense of the returns to quantity. Data we collected on the rank and publication records of New Zealand academic economists prior to the introduction of the PBRF and just after the second assessment round are used to estimate the changing returns to the quantity and quality of journal articles

Psychotherapeutic approaches to the elderly: Part Two

It is not easy to come to terms with retirement, failing bodily functions, increased vulnerability, potential institutionalisation and inevitable death. For some this is a stage of life tinged with difficult memories of being cared for when they were younger. It is not uncommon to see some older adults with a past history of childhood trauma and adversity develop new onset relationship problems having lost the containment of a career or a loved one. Older people can derive huge benefit from psychotherapeutic approaches. Personal transformation may enable them to go on to enjoy meaningful and fruitful old and new relationships whether in the community or in a care home

Lessons Learned from the Pioneers 10/11 for a Mission to Test the Pioneer Anomaly

Analysis of the radio-metric tracking data from the Pioneer 10/11 spacecraft at distances between 20--70 astronomical units (AU) from the Sun has consistently indicated the presence of an anomalous, small, constant Doppler frequency drift. The drift is a blue-shift, uniformly changing with rate a_t = (2.92 +/- 0.44) x 10^(-18) s/s^2. It can also be interpreted as a constant acceleration of a_P = (8.74 +/- 1.33) x 10^(-8) cm/s^2 directed towards the Sun. Although it is suspected that there is a systematic origin to the effect, none has been found. As a result, the nature of this anomaly has become of growing interest. Here we discuss the details of our recent investigation focusing on the effects both external to and internal to the spacecraft, as well as those due to modeling and computational techniques. We review some of the mechanisms proposed to explain the anomaly and show their inability to account for the observed behavior of the anomaly. We also present lessons learned from this investigation for a potential deep-space experiment that will reveal the origin of the discovered anomaly and also will characterize its properties with an accuracy of at least two orders of magnitude below the anomaly's size. A number of critical requirements and design considerations for such a mission are outlined and addressed.Comment: 11 pages, invited talk given at ``35th COSPAR Scientific Assebly,'' July 18-24, 2004, Paris, Franc

A real-time facial expression recognition system for affective computing

A thesis submitted to the University of London in partial fulfillment to the degree of Doctor of Philosophy

Fiscal Reform and its Firm-Level Effects in Eastern Europe and Central Asia

This paper reports the first empirical evidence that fiscal reform efforts in transition countries have positive effects. Using the EBRD BEEPS I and II data, reported in 1999 and 2002, rigorous econometric models are estimated showing that the share of bribes paid to tax collectors is reduced in countries with more extensive fiscal reforms. This effect controls for selection bias in the likelihood that firms are required to make unofficial payments to tax authorities. On the basis of this evidence, we now have some confidence in the success of fiscal reform efforts. In addition, we have insight regarding what forms of fiscal reform may be more successful as the share of revenues generated from direct taxes (both personal and corporate) has an impact on tax bribes.Fiscal reform, Bribery, Transition economies, Eastern Europe, Central Asia