Regulation and Taxation of Casinos under State-Monopoly, Private Monopoly and Casino Association Regimes

This paper considers alternative forms of regulation and taxation of the casino sector. The model considers the situation of a typical tourist destination country that is using casinos to attract and entertain foreign tourists. The objective is to invest in the sector efficiently while maximizing the amount of government revenue or profits accruing to the country. The regulator must determine how the price of gambling will be set, how many casinos will be allowed to enter the industry and the form and rates of taxation. Four alternative forms of regulation are considered: price regulation, state-owned monopoly, private monopoly and casino association regulation. Turnover taxes on the amount of funds gambled and also annual taxation of the fixed costs of the casinos are evaluated. Applications of the models are carried out for North Cyprus. The conclusion is that the economic efficiency costs and the revenue losses from the absence of effective regulation in these tourist destinations can be very substantial with welfare costs equal to the approximately 75 percent of the tax revenue generated by this sector. Furthermore it shows that while a tax on turnover can be efficient in the case of a competitive industry or a cartel association form of regulation, it will be distortionary if a multi-plant private monopoly is controlling the sector. In contrast a tax on fixed costs will lead to an efficient result in the case of a competitive industry, but it will lead to economic inefficiencies if the sector is regulated by a casino association that controls the number of casino entering the sector.Casino regulation, taxation, state-monopoly, welfare cost

A weakly convergent fully inexact Douglas-Rachford method with relative error tolerance

Douglas-Rachford method is a splitting algorithm for finding a zero of the sum of two maximal monotone operators. Each of its iterations requires the sequential solution of two proximal subproblems. The aim of this work is to present a fully inexact version of Douglas-Rachford method wherein both proximal subproblems are solved approximately within a relative error tolerance. We also present a semi-inexact variant in which the first subproblem is solved exactly and the second one inexactly. We prove that both methods generate sequences weakly convergent to the solution of the underlying inclusion problem, if any

Financial Development, Trade and Growth Triangle: The Case of India

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.This paper aims to investigate the possible co‐integration and the direction of causality between financial development, international trade, and economic growth in India. Annual data covering the 1965‐2004 period have been used to investigate co‐integration and Granger causality tests between financial development, international trade, and growth after employing unit root tests to see if the variables under consideration are stationary. Results reveal that there is a long‐run equilibrium relationship between financial development, international trade and real income growth in the case of India. Furthermore, unidirectional causality was investigated that runs from real income to exports and imports, from exports to imports, M2 and domestic credits, from M2 to imports, from imports to domestic credits. Bidirectional causality has also been obtained between real income and M2, and between real income and domestic credits. Finally, no direction of causality has been obtained between M2 and domestic credits. This study has shown that the supply‐leading and the demand‐following hypotheses cannot be inferred for the Indian economy alone themselves. And furthermore, the export‐led and the import‐led hypotheses again cannot be inferred for the Indian economy based on the sample period, 1965‐2004. This study is the first of its kind, which investigates the possible co‐integration and the direction of causality between the financial development, international trade and economic growth triangle not only in the case of India but also in the relevant literature to the best of one's knowledge

Regulation and Taxation of Casinos under State-Monopoly, Private Monopoly and Casino Association Regimes

This paper considers alternative forms of regulation and taxation of the casino sector. The model considers the situation of a typical tourist destination country that is using casinos to attract and entertain foreign tourists. The objective is to invest in the sector efficiently while maximizing the amount of government revenue or profits accruing to the country. The regulator must determine how the price of gambling will be set, how many casinos will be allowed to enter the industry and the form and rates of taxation. Four alternative forms of regulation are considered: price regulation, state-owned monopoly, private monopoly and casino association regulation. Turnover taxes on the amount of funds gambled and also annual taxation of the fixed costs of the casinos are evaluated. Applications of the models are carried out for North Cyprus. The conclusion is that the economic efficiency costs and the revenue losses from the absence of effective regulation in these tourist destinations can be very substantial with welfare costs equal to the approximately 75 percent of the tax revenue generated by this sector. Furthermore it shows that while a tax on turnover can be efficient in the case of a competitive industry or a cartel association form of regulation, it will be distortunary if a private monopoly is controlling the sector. In contrast a tax on fixed costs will lead to an efficient result in the case of a competitive or private monopoly cases, but it will lead to allocate inefficiencies if the sector is regulated by a casino association that can only control the number of casino entering the sector.Casino regulation, taxation, state-monopoly, welfare cost

On the accuracy of the estimated policy function using the Bellman contraction method

In this paper we show that the approximation error of the optimal policy function in the stochastic dynamic programing problem using the policies defined by the Bellman contraction method is lower than a constant (which depends on the modulus of strong concavity of the one-period return function) times the square root of the value function approximation error. Since the Bellman's method is a contraction it results that we can control the approximation error of the policy function. This method for estimating the approximation error is robust under small numerical errors in the computation of value and policy functions.

The Economics of Casino Taxation

In this paper, a model of the costs of a casino is developed that focuses on the implications for economic welfare of different taxation schemes for casinos. The situation being considered is in a country where casinos cater exclusively to foreign tourists. The goal of the country is to determine the maximum amount of taxes that can be extracted from the activities of this sector under different systems of taxation. When the price of gambling is set by regulation above its competitive level, the economic losses created by excessive investment in the sector can be reduced by taxation. A turnover tax on the amount gambled can maximize both tax revenue and the economic welfare of the country. Due administrative constraints, a number of countries rely on the taxation of the casinos’ fixed assets or a combination of a turnover tax and a tax on fixed costs. The model is applied to the situation in North Cyprus. The annual economic efficiency loss from its poorly designed tax policies on casino gambling is estimated to be about 0.5 percent of GDP.Casino, taxation, gambling, tourism, economic benefit

Tidig läs- och skrivutveckling. En kvalitativ undersökning om hur lärare arbetar med elevers tidiga läs- och skrivutveckling.

Sammanfattning Vår undersökning handlar om hur tre lärare arbetar med tidig läs- och skrivning. Vårt syfte var att ta reda på vilka arbetssätt de intervjuade lärarna använder sig av i sina läs- och skrivundervisningar. I vår studie har vi valt att genomföra en kvalitativ undersökning, detta genom att intervjua tre lärare som arbetar på olika skolor i Göteborgs stad. De intervjuade lärarna arbetar i F-1 med olika erfarenheter och inriktningar. Genom intervjuerna har vi dragit slutsatsen att det inte finns en enstaka, rätt metod utan variation på metoder, arbetssätt och anpassad undervisning är den bästa lösningen för att kunna nå ut till alla elever i klassen