Excise Taxation in New Zealand

In New Zealand, excise taxes are levied on three commodity groups: alcohol, tobacco and petrol. The 2001 Tax Review, published by the New Zealand Treasury, argued that excises are inequitable and inefficient, and advised that these taxes should be removed and the revenue replaced by raising the standard rate of GST. This paper provides an empirical examination of these issues. First, the efficiency of New Zealand’s current system of indirect taxes is examined. The welfare and redistributive effects resulting from the revenue-neutral removal of excise taxes are then examined. Welfare and redistributive measures are computed for a range of demographic groups and total weekly expenditure levels. While the largest efficiency gains and reductions in inequality are observed for households with at least one smoker, the overall distributional implications of the proposed reforms are found to be small.Indirect taxation; equivalent variations; excess burdens; inequality;tax reform

Coalition Formation Games for Collaborative Spectrum Sensing

Collaborative Spectrum Sensing (CSS) between secondary users (SUs) in cognitive networks exhibits an inherent tradeoff between minimizing the probability of missing the detection of the primary user (PU) and maintaining a reasonable false alarm probability (e.g., for maintaining a good spectrum utilization). In this paper, we study the impact of this tradeoff on the network structure and the cooperative incentives of the SUs that seek to cooperate for improving their detection performance. We model the CSS problem as a non-transferable coalitional game, and we propose distributed algorithms for coalition formation. First, we construct a distributed coalition formation (CF) algorithm that allows the SUs to self-organize into disjoint coalitions while accounting for the CSS tradeoff. Then, the CF algorithm is complemented with a coalitional voting game for enabling distributed coalition formation with detection probability guarantees (CF-PD) when required by the PU. The CF-PD algorithm allows the SUs to form minimal winning coalitions (MWCs), i.e., coalitions that achieve the target detection probability with minimal costs. For both algorithms, we study and prove various properties pertaining to network structure, adaptation to mobility and stability. Simulation results show that CF reduces the average probability of miss per SU up to 88.45% relative to the non-cooperative case, while maintaining a desired false alarm. For CF-PD, the results show that up to 87.25% of the SUs achieve the required detection probability through MWCComment: IEEE Transactions on Vehicular Technology, to appea

Assessment of the molecular mechanisms of action of novel 4-phenylpyridine-2-one and 6-phenylpyrimidin-4-one allosteric modulators at the M1 muscarinic acetylcholine receptors

Positive allosteric modulators (PAMs) that target the M1 muscarinic acetylcholine (ACh) receptor (M1 mAChR) are potential treatments for cognitive deficits in conditions such as Alzheimer's disease and schizophrenia. We recently reported novel 4-phenylpyridine-2-one and 6-phenylpyrimidin-4-one M1 mAChR PAMs with the potential to display different modes of positive allosteric modulation and/or agonism (Mistry et al., 2016), but their molecular mechanisms of action remain undetermined. The current study compared the pharmacology of three such novel PAMs with the prototypical first-generation PAM, BQCA, in a recombinant Chinese hamster ovary (CHO) cell line stably expressing the human M1 mAChR. Interactions between the orthosteric agonists and the novel PAMs or BQCA suggested their allosteric effects were solely governed by modulation of agonist affinity. The greatest degree of positive co-operativity was observed with higher efficacy agonists, whereas minimal potentiation was observed when the modulators were tested against the lower efficacy agonist, xanomeline. Each PAM was investigated for its effects on the endogenous agonist, ACh, on three different signalling pathways, (ERK1/2 phosphorylation, IP1 accumulation and β-arrestin-2 recruitment), revealing that the allosteric potentiation generally tracked with the efficiency of stimulus-response coupling and that there was little pathway bias in the allosteric effects. Thus, despite the identification of novel allosteric scaffolds targeting the M1 mAChR, the molecular mechanism of action of these compounds is largely consistent with a model of allostery previously described for BQCA, suggesting that this may be a more generalized mechanism for M1 mAChR PAM effects than previously appreciated

Political Institutions and the Dynamics of Public Investment

We present a theoretical model of the provision of a durable public good over an infinite horizon. In each period, there is a societal endowment of which each of n districts owns a share. This endowment can either be invested in the public good or consumed. We characterize the planner's optimal solution and time path of investment and consumption. We then consider alternative political mechanisms for deciding on the time path, and analyze the Markov perfect equilibrium of these mechanisms. One class of these mechanisms involves a legislature where representatives of each district bargain with each other to decide how to divide the current period's societal endowment between investment in the public good and transfers to each district. The second class of mechanisms involves the districts making independent decisions for how to divide their own share of the endowment between consumption and investment. We conduct an experiment to assess the performance of these mechanisms, and compare the observed allocations to the Markov perfect equilibrium.Dynamic political economy; voting; public goods; bargaining; experiments

Basketball Preview 2018

Annual Basketball Previewhttps://digitalcommons.usu.edu/newspapers/1661/thumbnail.jp

Financial peformance of government trading enterprises, 1997-98 to 2001-02

The financial performance of government trading enterprises is assessed in this report. The financial indicators and ratios used in the report cover operating performance, financial management and transactions with government. The paper covers 84 Commonwealth, State and Territory government businesses involved in electricity, water, urban transport, rail, ports and forestry. The results indicate a downward trend in the financial performance of many government businesses. Thirty businesses reported lower returns than in the previous year.Commonwealth GTEs; Drainage; Electricity; Forests; Government businesses; Government Trading Enterprises; Irrigation; Ports; Railways; Sector reforms; Sewerage; Urban transport; Water;

The Elasticity of Taxable Income in New Zealand

This paper reports estimates of the elasticity of taxable income with respect to the net-of-tax rate for New Zealand taxpayers. The relative stability of the New Zealand personal income tax system, in terms of marginal rates, thresholds and the tax base, provides helpful conditions for deriving these estimates. The elasticity of taxable income was estimated to be substantially higher for the highest income groups. Changes in the timing of income flows for the higher income recipients were found to be an important response to the announcement of a new higher-rate bracket. The marginal welfare costs of personal income taxation were consistent across years, being relatively small for all but the higher tax brackets. For the top marginal rate bracket of 39 per cent, the welfare cost of raising an extra dollar of tax revenue was estimated to be well in excess of a dollar