Value Capture for Transportation Finance

As vehicles become more fuel-efficient and overall levels of travel stagnate in response to increases in fuel prices, conventional sources of revenue for transportation finance such as taxes on motor fuels have been put under increasing pressure. One potential replacement as a source of revenue is a set of policies collectively referred to as value capture policies. In contrast to fuel taxes and other instruments that impose charges on users of transportation networks, value capture policies seek to generate revenue by extracting a portion of the gains in the value of land that result from improvements to transportation networks. In this paper we identify a set of eight policies that contain elements of the value capture approach. These policies include land value taxes, tax increment financing, special assessments, transportation utility fees, development impact fees, negotiated exactions, joint development, and air rights. We evaluate each of the policies according to four criteria: efficiency, equity, sustainability (in terms of revenue adequacy and stability), and feasibility. The value capture concept is placed within a more general framework of transportation finance that emphasizes the relationship between different types of charges and groups of beneficiaries from transportation investments.Transportation Ð Economics, Land value, Transportation Ð finance and taxation

Self Super-Resolution for Magnetic Resonance Images using Deep Networks

High resolution magnetic resonance~(MR) imaging~(MRI) is desirable in many clinical applications, however, there is a trade-off between resolution, speed of acquisition, and noise. It is common for MR images to have worse through-plane resolution~(slice thickness) than in-plane resolution. In these MRI images, high frequency information in the through-plane direction is not acquired, and cannot be resolved through interpolation. To address this issue, super-resolution methods have been developed to enhance spatial resolution. As an ill-posed problem, state-of-the-art super-resolution methods rely on the presence of external/training atlases to learn the transform from low resolution~(LR) images to high resolution~(HR) images. For several reasons, such HR atlas images are often not available for MRI sequences. This paper presents a self super-resolution~(SSR) algorithm, which does not use any external atlas images, yet can still resolve HR images only reliant on the acquired LR image. We use a blurred version of the input image to create training data for a state-of-the-art super-resolution deep network. The trained network is applied to the original input image to estimate the HR image. Our SSR result shows a significant improvement on through-plane resolution compared to competing SSR methods.Comment: Accepted by IEEE International Symposium on Biomedical Imaging (ISBI) 201

Fiscal Effects of Local Option Sales Tax on School Facilities Funding: Evidence from North Carolina

Since the 1970s, the North Carolina Legislature has authorized its counties to levy four local option sales taxes (LOST). Proceeds from two of them are partially restricted for school capital needs; two other LOST are used to augment counties’ general revenues that may also affect school capital funding. Experiences from other states have raised concerns that the adoption of LOST may increase inequality in school finance, but the empirical results have been mixed. Using a data set of one hundred North Carolina county school districts from 2004 to 2006, this study examines how public school facilities are funded, and investigates whether the adoption of LOST aggravates or alleviates inequality in public school capital revenues in the state

Rural Taxation Reforms and Compulsory Education Finance in China

In recent decades, the responsibility for the financing of compulsory education in rural China has rested with townships and villages which, with limited tax authority and uneven revenue capacity, increasingly relied on a plethora of arbitrarily imposed fees for funding. To reduce farmers‘ fiscal burdens, since 2000 the central government has installed a series of rural taxation reforms. Correspondingly, the central government shifted the administrative responsibilities of rural compulsory education to the county level in 2001, and implemented a series of policies to make up for the loss of revenues to education. Using a provincial-level dataset from 1998 to 2006, this study examines whether and how the rural taxation reforms have affected the adequacy and equality of compulsory education finance in China, and addresses related theoretical and policy implications from the perspective of intergovernmental fiscal relations

Fiscal Conditions, Political Interests, and Service Outsourcing Decisions: The Case of Georgia Counties

The question why a government chooses a specific service delivery tool to provide public service to its citizenry is a central intellectual inquiry in public administration. This paper develops a framework to explain the production and sector choices of public services by political-economic environment, organizational capacity, service market condition, and nature of service. Using operation and financial data of Georgia county governments during 2000-2006, we apply the framework to analyze Georgia counties’ public service outsourcing decisions, focusing on the effects of fiscal condition and political interests. The logistic regression results show that the choice of external production is negatively associated with government’s revenue raising capacity, managerial capacity, and citizens’ political demand for local control yet positively associated with conservative ideology. The choice of private sector is positively correlated with conservative political interest, increase in discretionary financial resources, and the centrality of government’s position in local service provision market

Calpain inhibition reduces NMDA receptor rundown in rat substantia nigra dopamine neurons.

Repeated activation of N-Methyl-d-aspartate receptors (NMDARs) causes a Ca2+-dependent reduction in NMDAR-mediated current in dopamine (DA) neurons of the substantia nigra pars compacta (SNc) in one week old rats; however, a Ca2+-dependent regulatory protein has not been identified. The role of the Ca2+-dependent cysteine protease, calpain, in mediating NMDAR current rundown was investigated. In brain slices from rats aged postnatal day 7-9 ('P7'), bath application of either of the membrane permeable calpain inhibitors, N-Acetyl-L-leucyl-L-leucyl-L-norleucinal (ALLN, 20 μM) or MDL-28170 (30 μM) significantly reduced whole-cell NMDAR current rundown. To investigate the role of the calpain-2 isoform, the membrane permeable calpain-2 inhibitor, Z-Leu-Abu-CONH-CH2-C6H3 (3, 5-(OMe)2 (C2I, 200 nM), was applied; C2I application significantly reduced whole cell NMDAR current rundown. Interestingly, ALLN but not C2I significantly reduced rundown of NMDA-EPSCs. These results suggest the calpain-2 isoform mediates Ca2+-dependent regulation of extrasynaptic NMDAR current in the first postnatal week, while calpain-1 might mediate rundown of synaptic NMDAR currents. One week later in postnatal development, at P12-P16 ('P14'), there was significantly less rundown in SNc-DA neurons, and no significant effect on rundown of either Ca2+ chelation or treatment with the calpain inhibitor, ALLN, suggesting that the rundown observed in SNc-DA neurons from two week-old rats might be Ca2+-independent. In conclusion, Ca2+-dependent rundown of extrasynaptic NMDAR currents in SNc DA neurons involves calpain-2 activation, but Ca2+- and calpain-2-dependent NMDAR current rundown is developmentally regulated.Non

The Impact of Early Order Commitment on the Performance of a Simple Supply Chain

An example of supply chain coordination is early order commitment, wherein a retailer commits to purchase a fixed-order quantity and delivery time from a manufacturer before the real need takes place. In this paper, an analytical model is developed that quantifies the impact of early order commitment on the performance of a simple two-level supply chain consisting of a single manufacturer and a single retailer. The model reveals that the effect of early order commitment depends on a lot of factors such as the cost structure of the supply chain, the lengths of manufacturing and delivery lead times, and the correlation of the demand over time. This model can be used to evaluate the benefit of early order commitment, to determine the optimal early commitment periods of the supply chain, and to estimate the maximum incentives the manufacturer can provide to encourage the retailer to commit its orders in advance

Introduction: Symposium on China Studies

To meet the increasing scholarly interest in China, this symposium provides a forum for scholars in public budgeting and finance to exchange research on China-related issues. There have been new initiatives to reform China’s public fiscal system in the past two decades. The papers in this symposium examine advances and associated issues in fiscal decentralization, local budgeting, and urban infrastructure financing. The papers not only analyze the existing issues, but also make recommendations on how to develop an accountable local budgeting system, how to finance sustainable urban infrastructure, and how to pursue a more balanced approach to fiscal decentralization in contemporary China