The marginal cost of public funds in closed and small open economies

The efficiency cost of taxation has become an increasingly important consideration in the evaluation of alternative tax policy options. This paper provides a review of estimates of the efficiency costs of taxation and presents some new estimates for small open economies. The available studies suggest that, in closed economies, the distortions from taxation are highest for corporate taxes and lowest for wage taxes. This efficiency ranking of different taxes does not hold in small open economies. It is shown that, in a small open economy, this ranking is reversed. Personal income taxes are less distortionary than wage taxes primarily because the link between domestic saving and investment is severed. Corporate taxes are also less distortionary for a variety of factors, such as changes in depreciation levels, payments to foreigners and terms of trade.

Rheological Behavior of Microemulsions

We study the stationary and transient behaviors of the microemulsion phase subjected to a shear flow. The system is described by a diffusion-convective equation which generalizes the usual Cahn-Hilliard equation. Non-linear terms are treated in a self-consistent approximation. Shear, first and second normal stresses are calculated as momenta of the structure factor. Shear thinning is observed in stationary conditions. After a newtonian regime at small values of the shear rate, the excess viscosity decreases when the shear rate becomes of the order of the inverse of the relaxation time of the system without flow. In transient regimes, when the flow is applied starting from a quiescent state, we find that the shear stress reaches a maximum before decreasing to a constant value.Comment: 10 figures, 2 of which have format jp

The effect of tax-based savings incentives on government revenue

There is an unresolved debate on the effect of tax-based savings incentives on government revenue. The conventional wisdom on tax-assisted saving plans (TASPs) holds that they reduce public savings, but may raise national savings by stimulating private savings. Feldstein (1995) has challenged the view that TASPs reduce government revenue. According to Feldstein, ‘some of the increase in personal saving raises the corporate capital stock, and the return on this additional capital raises corporate tax payments’. When the additional corporate income tax revenue is taken into account, ‘the revenue loss associated with IRAs [Individual Retirement Accounts] either is much smaller than has generally been estimated or is actually a revenue gain’. This paper extends Feldstein’s analysis to incorporate international considerations,differences in tax structures and alternative values for key parameters. We show that the result presented by Feldstein represents a special case that does not lead to broad generalisations. We also show that, under most conditions, the tenets of conventional wisdom that TASPs reduce government revenue are likely to hold, but that the magnitude of the effect may not be large. Finally, we suggest that the focus of research on the savings effects of TASPs is justifiable in a closed economy, where domestic savings affect domestic investment, but is not useful for policy development in small open economies.

Evaluating the phase diagram of superconductors with asymmetric spin populations

The phase diagram of a non-relativistic fermionic system with imbalanced state populations interacting via a short-range S-wave attractive interaction is analyzed in the mean field approximation. We determine the energetically favored state for different values of the mismatch between the two Fermi spheres in the weak and strong coupling regime considering both homogeneous and non-homogeneous superconductive states. We find that the homogeneous superconductive phase persists for values of the population imbalance that increase with increasing coupling strength. In the strong coupling regime and for large population differences the energetically stable homogeneous phase is characterized by one gapless mode. We also find that the inhomogeneous superconductive phase characterized by the condensate $\Delta({\bf x}) \sim \Delta~\exp{(i \bf{q \cdot x})}$ is energetically favored in a range of values of the chemical potential mismatch that shrinks to zero in the strong coupling regime.Comment: 9 pages, 5 figure

Speranze e disincantamento della cultura contemporanea

1. La posizione teologica dei problema2. Il disincantamento3. Le speranze4. La resistenza che lega il disincantamento alia speranz

Instabilities in two flavor quark matter

I discuss briefly the instabilities of two flavor quark matter, paying attention to the gradient instability which develops in the g2SC phase in the Goldstone $U(1)_A$ sector.Comment: 6 pages. Talk given at QCD@Work07, Martina Franca (Italy). Some typos corrected, one reference adde

Instabilities in two flavor quark matter

I discuss briefly the instabilities of two flavor quark matter, paying attention to the gradient instability which develops in the g2SC phase in the Goldstone $U(1)_A$ sector.Comment: 6 pages. Talk given at QCD@Work07, Martina Franca (Italy). Some typos corrected, one reference adde

Enabling the Circular Economy transition: a sustainable lean manufacturing recipe for Industry 4.0

AbstractOver the past 10 years, the concepts and objectives of circular economy have been increasingly detailed and become strategic issues of international, European, and national policies. However, the transition towards circular production models continues to be affected by several barriers and critical factors that make the transition difficult to achieve. The paper tries to design a relationship between sustainable production and lean production, highlighting the opportunity to invest in reverse‐logistics and how Industry 4.0 system represents a breeding ground for circular economy targets application. The aim of the current study is to examine the relationships among sustainable production, lean production, and Industry 4.0 in order to evidence the need to adopt a lean methodology and Industry 4.0 technologies in a sustainable development perspective for companies. Following a holistic vision, the authors summarize the production principles and formulas, which, although in parallel, lead to similar results and therefore represent the pillars of a competitive and sustainable business. In conclusion, exploring the circular economy principles and production chain model, challenges, opportunities, and future outlooks are formulated

Self-consistent evaluation of quark masses in three flavor crystalline color superconductivity

We present a self-consistent evaluation of the constituent quark masses in the three flavor Larkin-Ovchinnikov-Fulde-Ferrell (LOFF) phases of QCD, employing an improved Nambu-Jona Lasinio model. This result allows to determine the window for values of the baryonic chemical potential where the LOFF state is energetically favored.Comment: 17 pages, 5 figures, JHEP3 style. A second treatment of the ultraviolet cutoff added. Three figures adapted to the new cutoff. Two references added. Version accepted for publication on JHE