1,883 research outputs found
How mobile is capital within the European Union?
The key result of the tax competition literature is that governments set inefficiently low tax rates on income from internationally mobile production factors. Therefore, there is a case for coordination of EU capital income taxes, provided that capital is mobile within the EU. We measure how the international allocation of capital depends on taxation by examining the relation between FDI positions and effective corporate income tax rates. An EU country typically increases its FDI position in another EU country by approximately four percent if the latter decreases its effective corporate income tax rate by one percentage point relative to the EU mean. This conditionally support the recent efforts of the EU to coordinate capital income taxation. The benefits or costs of tax coordination ultimately depend, however, on whether one views the government as a social welfare maximising agent or tax revenue maximising leviathan.
The effects of policy expectations on crop supply, with an application to base updating
We develop a dynamic model to assess the effects of policy expectations on crop supply and illustrate the approach with estimates of the effects of base updating in U.S. crop programs. For corn and soybeans in the Corn Belt, the effect of base updating is relatively small because relevant crop alternatives are subject to similar policies and the alternatives are substitutes in production. Increasing acreage of one program crop to capture future payments from base updating reduces future payments from the alternative crop. We also use our model to assess the effect of base updating on acreage response to prices
Comparison among Various Expressions of Complex Admittance for Quantum System in Contact with Heat Reservoir
Relation among various expressions of the complex admittance for quantum
systems in contact with heat reservoir is studied. Exact expressions of the
complex admittance are derived in various types of formulations of equations of
motion under contact with heat reservoir. Namely, the complex admittance is
studied in the relaxation method and the external-field method. In the former
method, the admittance is calculated using the Kubo formula for quantum systems
in contact with heat reservoir in no external driving fields, while in the
latter method the admittance is directly calculated from equations of motion
with external driving terms. In each method, two types of equation of motions
are considered, i.e., the time-convolution (TC) equation and
time-convolutionless (TCL) equation. That is, the full of the four cases are
studied. It is turned out that the expression of the complex admittance
obtained by using the relaxation method with the TC equation exactly coincides
with that obtained by using the external-field method with the TC equation,
while other two methods give different forms. It is also explicitly
demonstrated that all the expressions of the complex admittance coincide with
each other in the lowest Born approximation for the systemreservoir
interaction. The formulae necessary for the higher order expansions in powers
of the system-reservoir interaction are derived, and also the expressions of
the admittance in the n-th order approximation are given. To characterize the
TC and TCL methods, we study the expressions of the admittances of two exactly
solvable models. Each exact form of admittance is compared with the results of
the two methods in the lowest Born approximation. It is found that depending on
the model, either of TC and TCL would be the better method.Comment: 34pages, no figur
Who benefits from tax competition in the European Union?
This memo documents version 7 of the model, which is used in in Bettendorf et al. (2006). The
first chapter documents the derivation of the equations. The calibration of the model is described
in chapter 2. Section 1.1 derives the first-order conditions for consumption and labour supply
from utility-maximising households. Section 1.2 derives from profit maximisation, the demand
for labour, capital, location specific capital, intermediate inputs and financial assets for domestic
and multinational firms. Taxes on corporate income, labour income, consumption and wealth are
introduced when appropriate. The tax revenues have to meet the government expenditures on
consumption, transfers and debt, see section 1.3. The market equilibria and the linkages with the
Rest of the World are presented in section 1.4. Section 1.5 presents the solution procedure.
Notation follows some simple rules. Upper case symbols are used for aggregated values
whereas lower case characters are reserved for per capita variables (in terms of the young
generation in the country of origin). In the case of variables with two dimensions, the first index
refers to the country which owns the resource (residence), whereas the second index denotes the
using country (destination). Time subscripts and country indices are dropped in the exposition
whenever this is possible.
The rates of return on bonds ( ˆ rwb) and equities ( ˆ rwe) are assumed fixed. The considered
countries are small in the sense that they can import (or export) capital from the Rest of the
World (ROW) without affecting the world interest rates. In other words, the net supply of capital
by the ROW is perfectly elastic. Multinationals are assumed to operate only in the other ‘small’
countries, but not in the ROW (and vice versa). The ROW block does not need to be fully
modelled. International capital and good flows are restricted by the current account for each
country
Failed theories of superconductivity
Almost half a century passed between the discovery of superconductivity by
Kamerlingh Onnes and the theoretical explanation of the phenomenon by Bardeen,
Cooper and Schrieffer. During the intervening years the brightest minds in
theoretical physics tried and failed to develop a microscopic understanding of
the effect. A summary of some of those unsuccessful attempts to understand
superconductivity not only demonstrates the extraordinary achievement made by
formulating the BCS theory, but also illustrates that mistakes are a natural
and healthy part of the scientific discourse, and that inapplicable, even
incorrect theories can turn out to be interesting and inspiring.Comment: 14 pages, 3 figures (typos fixed), to appear in: Bardeen Cooper and
Schrieffer: 50 YEARS, edited by Leon N Cooper and Dmitri Feldma
Short-Range B-site Ordering in Inverse Spinel Ferrite NiFe2O4
The Raman spectra of single crystals of NiFe2O4 were studied in various
scattering configurations in close comparison with the corresponding spectra of
Ni0.7Zn0.3Fe2O4 and Fe3O4. The number of experimentally observed Raman modes
exceeds significantly that expected for a normal spinel structure and the
polarization properties of most of the Raman lines provide evidence for a
microscopic symmetry lower than that given by the Fd-3m space group. We argue
that the experimental results can be explained by considering the short range
1:1 ordering of Ni2+ and Fe3+ at the B-sites of inverse spinel structure, most
probably of tetragonal P4_122/P4_322 symmetry.Comment: 10 pages, 5 figures, 6 table
Site Percolation and Phase Transitions in Two Dimensions
The properties of the pure-site clusters of spin models, i.e. the clusters
which are obtained by joining nearest-neighbour spins of the same sign, are
here investigated. In the Ising model in two dimensions it is known that such
clusters undergo a percolation transition exactly at the critical point. We
show that this result is valid for a wide class of bidimensional systems
undergoing a continuous magnetization transition. We provide numerical evidence
for discrete as well as for continuous spin models, including SU(N) lattice
gauge theories. The critical percolation exponents do not coincide with the
ones of the thermal transition, but they are the same for models belonging to
the same universality class.Comment: 8 pages, 6 figures, 2 tables. Numerical part developed; figures,
references and comments adde
Electrostatic potential in a superconductor
The electrostatic potential in a superconductor is studied. To this end
Bardeen's extension of the Ginzburg-Landau theory to low temperatures is used
to derive three Ginzburg-Landau equations - the Maxwell equation for the vector
potential, the Schroedinger equation for the wave function and the Poisson
equation for the electrostatic potential. The electrostatic and the
thermodynamic potential compensate each other to a great extent resulting into
an effective potential acting on the superconducting condensate. For the
Abrikosov vortex lattice in Niobium, numerical solutions are presented and the
different contributions to the electrostatic potential and the related charge
distribution are discussed.Comment: 19 pages, 11 figure
Optical BCS conductivity at imaginary frequencies and dispersion energies of superconductors
We present an efficient expression for the analytic continuation to arbitrary
complex frequencies of the complex optical and AC conductivity of a homogeneous
superconductor with arbitrary mean free path. Knowledge of this quantity is
fundamental in the calculation of thermodynamic potentials and dispersion
energies involving type-I superconducting bodies. When considered for imaginary
frequencies, our formula evaluates faster than previous schemes involving
Kramers--Kronig transforms. A number of applications illustrates its
efficiency: a simplified low-frequency expansion of the conductivity, the
electromagnetic bulk self-energy due to longitudinal plasma oscillations, and
the Casimir free energy of a superconducting cavity.Comment: 20 pages, 7 figures, calculation of Casimir energy adde
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