Review of Economic Perspectives最新文献

{"title":"Corporate Taxation in the European Union: The Role of Intangibles in the Formulary Apportionment","authors":"Markéta Mlčúchová","doi":"10.2478/revecp-2023-0006","DOIUrl":"https://doi.org/10.2478/revecp-2023-0006","url":null,"abstract":"Abstract This paper seeks to contribute to the current debate on EU-wide corporate taxation, steered by the impending Proposal by the European Commission on a new framework for the taxation of income of businesses in Europe. The objective of this paper is to verify whether the inclusion of intangible assets enhances the ability of the current proposals for Formulary Apportionment to explain variability in profitability. The research question addressed is “What is the explanatory power of the Formulary Apportionment, for factors such as tangible assets, intangible assets, labour and sales by destination, to describe the variability in the profitability of companies active within the EU internal market?”. The paper employs regression analysis of cross-sectional microeconomic data to analyse the explanatory power of the Formulary Apportionment. The research reveals that the inclusion of intangible assets fails to enhance the explanatory power and that factoring in intangible assets does not appear to have a statistically significant effect in the model. The best-performing model, without the inclusion of intangible assets, explained 22.6 % of the variability in the profitability of companies active within the EU internal market.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135389393","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Ranking methodology to prioritize high-speed railway corridors","authors":"Ismail Celebi","doi":"10.2478/revecp-2023-0008","DOIUrl":"https://doi.org/10.2478/revecp-2023-0008","url":null,"abstract":"Abstract The purpose of this article is to create and calibrate a high-speed rail passenger traffic-based ranking model using historical high-speed rail ridership data from Spain. The existing literature is scarce, and the models used have several main issues, such as arbitrariness, and not representing the real relations of variables. These models are analysed using real-world high-speed rail data; and improved by calibration with the data. Based on the results, I demonstrate the strengths and weaknesses of these models and propose a new model by combining the strong aspects of these models. I also show the importance of intermediate cities for the estimated ridership of an HSR corridor. The study develops our understanding of the ranking models and provides a more promising ranking solution as a contribution to high-speed rail planning.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135389392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Fiscal savings of Czech municipalities: Precaution or inaction of their administration?","authors":"Lucie Sedmihradská","doi":"10.2478/revecp-2023-0007","DOIUrl":"https://doi.org/10.2478/revecp-2023-0007","url":null,"abstract":"Abstract Czech municipalities keep a substantial and growing volume of bank deposits. An analysis of determinants of unreserved deposits in 2021 suggests that municipalities are precautionary and accumulate fiscal reserves if they can and do so to stabilize their budget management. Signs of low activity of municipal administration such as low creation of new assets and low execution of the approved budget were not related to the volume of unreserved deposits in 2021. The change in the impact of the municipal debt on fiscal savings from strongly negative to weakly positive between 2016 and 2021 calls for more research on the impact of the introduction of new local debt regulation.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135389394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Affects Debt Enforcement Proceedings? Evidence from the Czech Republic","authors":"Daniel Pakši, M. Šimek, Jakub Vontroba","doi":"10.2478/revecp-2023-0003","DOIUrl":"https://doi.org/10.2478/revecp-2023-0003","url":null,"abstract":"Abstract This paper aims to identify the factors contributing to the unusually high prevalence of over-indebtedness and debt enforcement proceedings in the Czech Republic at the granular geographic level of extended-powers municipalities (ORP). The main reason for this level is simple, not to lose information about differences among the municipalities, since there is quite a sharp contrast even within the same regions. The dependent variable is the share of people with one or more debt enforcement proceedings outstanding against them. We employ a set of explanatory variables including long-term unemployment, socially excluded localities, regional GDP per capita, education level, and a proxy for distance to the local economic center. The results are estimated using panel data regression with random effects, due to the time-invariant nature of certain variables. Because of poor data availability for some variables at this highly localized level, we make several assumptions; for example, we transfer the regional GDP per capita values to all ORPs in the region. Similar problems arise with education level, where we use data from the 2011 national census. Even with these data restrictions, our set of explanatory variables is shown to be statistically significant with the expected coefficient signs. GDP per capita and higher education level have a negative impact on the prevalence of debt enforcement proceedings, while long-term unemployment, the number of socially excluded localities in the area, and the distance-to-center proxy have a positive effect.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42238505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Moderating effect of institutional environment on economic policy uncertainty: evidence from firms’ investments","authors":"Klára Večeřová","doi":"10.2478/revecp-2023-0005","DOIUrl":"https://doi.org/10.2478/revecp-2023-0005","url":null,"abstract":"Abstract This paper investigates the link between corporate investments, eco-nomic policy uncertainty and the quality of institutional environments. The corporate investments of private firms in 10 European countries from 2009 to 2018 were examined and a negative effect of economic policy uncertainty on corporate investments was identified. More importantly, it was determined that the higher-quality institutional environments reduced the negative impact of economic policy uncertainty on corporate investments, especially when economic policy uncertainty was high. We also demonstrate the effects of government stability, legislative strength, government cohesion and socioeconomic conditions that mitigate the negative effects of economic policy uncertainty on corporate investments.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49079367","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Effects of Social Distancing Measures on COVID-19 Spreads in European Countries","authors":"Martin Pažický","doi":"10.2478/revecp-2023-0004","DOIUrl":"https://doi.org/10.2478/revecp-2023-0004","url":null,"abstract":"Abstract This study investigates the effects of social distancing measures on various types of social mobility, using country- and day-fixed effects on a panel of daily data comprising 29 European countries. Although social distancing measures proved to be significant for all types of mobility in the examined period, they are best captured by retail and recreation mobility. Linear effects of restrictive measures on COVID-19 cases and deaths are examined by OLS regression with country- and day-fixed effects on a panel of 29 European countries, while non-linear effects were investigated by quantile regressions. Stricter mobility restrictions significantly reduced COVID-19 cases and deaths, but the variant of the virus was also an important determinant. Although the Delta variant was much more infectious, its mortality reduced. However, the impact of social distancing measures on COVID-19 cases and deaths was not constant but strengthened with increasing quantiles of the distribution of cases and deaths, suggesting that an early response from policy-makers was very important. Vaccination brought benefits for both cases and deaths, but a particularly beneficial effect can be seen on COVID-19 deaths. The vaccination benefits grew with the share of the vaccinated population. Distrust in public institutions proved to have a negative impact on both COVID-19 cases and deaths. The inclusion of a set of control variables (health, economic, social and demographic) revealed that country characteristics such as cardiovascular mortality, the share of male smokers, economic development, the proportion of the population living in extreme poverty, population density, the quality of education or the share of rural population were important determinants of COVID-19 spreads. The analysis of the linear and nonlinear effects of the stringency of measures on various categories of sales according to the digital cash collection system (eKasa) in Slovakia revealed that sales in essential sectors for consumers, such as retail and grocery stores, were relatively resistant to tightening measures, while sectors that are less essential for consumers were more sensitive to social distancing measures.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2023-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48536154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The change of commuting behaviour with planned high-speed railways in Czechia","authors":"V. Pařil, M. Viturka, Václav Rederer","doi":"10.2478/revecp-2022-0016","DOIUrl":"https://doi.org/10.2478/revecp-2022-0016","url":null,"abstract":"Abstract This paper is focused on high-speed railway planning and its general aim is to assess potential commuting behaviour change on the example of planned high-speed railway in Czechia. We used standard geographical methods based on census data from 2011 in relevant ten regional centres and two important railway junctions that will be connected to high-speed railway according to planned network. The rest of three regional centres not planned to be connected to high-speed railway are disregarded. We assessed the attractiveness of relevant centre for commuter mobility change. The results document the strategic position of Prague as the main commuting centre, which relevant indicators significantly exceed all other labour mobility centres (the second most crucial centre Brno is about half the important one). This fact was confirmed by analyzing gradient labour areas and evaluating commuting relations among relevant centres. The assessment of potential impacts of HSR on labour markets is then carried out using the model of the marginal rate of labour mobility, where it is possible to count on positive impacts except for Prague on two other commuter centres, Brno and Pilsen. In the case of other analyzed centres, we can count on increasing the potential of a trip for work to the centres mentioned above.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41306815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Political Will and Economic Necessity? The Construction of High-Speed Rail Networks in Portugal and East Germany","authors":"P. Szobi, Tomáš Nigrin, J. Oravec","doi":"10.2478/revecp-2022-0017","DOIUrl":"https://doi.org/10.2478/revecp-2022-0017","url":null,"abstract":"Abstract This article aims two EU member countries (i.e. Portugal and Germany) from different regions in Europe which have, for decades, been following common strategies regarding HSR development. The authors discuss the economic profitability vs. political aims, which were related to rail modernization. The text outlines the historic background of early railway construction, important milestones for a new level of rail planning in the 1980s and 1990s in both Portugal and Germany and delays in the realization of HSR projects, their rising costs, and the opposition of the public against the new lines. The experience of the countries under scope serves as an example for other EU members who have plans to take part in the Trans-European Transport Network.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48545297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of city public transportation use on the competitiveness between high-speed rail and the car: The example of the Prague – Brno connection","authors":"M. Kowalski, Miroslav Marada, Jakub Chmelík","doi":"10.2478/revecp-2022-0018","DOIUrl":"https://doi.org/10.2478/revecp-2022-0018","url":null,"abstract":"Abstract The aim of the paper is to determine how fast the HSR connection in conjunction with public transport between Brno and Prague should be in order to be time-competitive with car use. Brno and Prague are the largest agglomerations in Czechia and, according to the Czech government’s plan, the first HSR will be built between them. The competitive speed of high-speed trains is derived from mathematical accessibility models created in GIS. The route planner in Google Maps and control supplementary sources were used as a source of data on the speed of public transport connections and the travel time of cars. The effect of a possible relocation of the main Brno railway station is also considered. The derived optimal competitive speed is slightly higher than the current plans assume.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47196453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Spillover effects of economic policy uncertainty on adult and youth unemployment","authors":"Silvo Dajčman, Alenka Kavkler, Natalia Levenko, Dejan Romih","doi":"10.2478/revecp-2023-0001","DOIUrl":"https://doi.org/10.2478/revecp-2023-0001","url":null,"abstract":"Abstract The paper studies the effects of foreign (the US, the UK and the Chinese) and domestic economic policy uncertainty (EPU) shocks on unemployment in Germany, France, Italy and Spain. The analysis is run separately for the rates of adult and youth unemployment. Impulse responses derived from vector autoregressive models show that the magnitudes of the responses of the adult and youth segments of the labour market are quite different. Following an uncertainty shock, the youth unemployment rate increases significantly more than the adult unemployment rate. This is the case for France, Italy and Spain. The German labour market seems to be resistant to foreign (except Chinese) and domestic EPU shocks, while the remaining labour markets, foremost the Spanish and Italian ones, are susceptible to uncertainty shocks, especially to the US EPU shocks.","PeriodicalId":43002,"journal":{"name":"Review of Economic Perspectives","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41477071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}