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This book presents a holistic view of climate change by examining a number of energy and transportation technologies and their impact on the climate. High-quality technical research results from specific test-cases around the globe are presented, and developments in global warming are discussed, focusing on current emissions policies from air and maritime transport to fossil fuel applications. Novel technologies such as carbon capture and storage are investigated together with the corresponding process and systems analysis, as well as optimization for mitigating CO2 emissions. Water resources management, waste water treatment, and waste management issues are also covered. Finally, biomass, hydrogen and solar energy applications are presented along with some insights on green buildings. Energy, Transportation and Global Warming is of great interest to researchers in the field of renewable and green energy as well as professionals in climate change management, the transportation sector, and environmental policy.
Turnover taxes are prevalent in developing countries as a simple form of presumptive taxation of business income. Such simplified tax regimes can reduce the relatively high compliance costs of micro and small enterprises, which might otherwise discourage entrepreneurs from formalizing their activities and paying taxes. The note addresses design issues for a turnover tax regime—which taxes it replaces, what the criteria are for eligibility, how to determine the optimal threshold, and how to set the tax rate. A key observation is that, although low turnover tax rates may incite larger firms to artificially reduce their sales, the rate should also not be so high as to discourage formalization of activities. A table of tax rates and turnover thresholds observed internationally is provided. The note concludes by suggesting analytical steps to guide practitioners in designing turnover tax regimes.
Tackling income and wealth inequality is at the top of the policy agenda in many countries. This note discusses three approaches of wealth taxation, based on (1) returns with a capital income tax, (2) stocks with a wealth tax, and (3) transfers of wealth through an inheritance (or estate) tax. Taxing actual returns is generally less distortive and more equitable than a wealth tax. Hence, rather than introducing wealth taxes, reform priorities should focus on strengthening the design of capital income taxes (notably capital gains) and closing existing loopholes, while harnessing technological advances in tax administration—including cross-border information sharing—to foster tax compliance. The inheritance tax is important to address the buildup of dynastic wealth.
This paper provides a broad empirical analysis of the determinants of post-conflict economic transitions across the world during the period 1960–2010, using a dynamic panel estimation approach based on the system-generalized method of moments. In addition to an array of demographic, economic, geographic, and institutional variables, we introduce an estimated risk of conflict recurrence as an explanatory variable in the growth regression, because post-conflict countries have a tendency to relapse into subsequent conflicts even years after the cessation of violence. The empirical results show that domestic factors, including the estimated probability of conflict recurrence, as well as a range of external variables, contribute to post-conflict economic performance.
The Turkish economy bounced back strongly after the failed coup in July 2016 but going forward growth is set to be closer to potential. The exchange rate has depreciated considerably, inflation is high and so is the current account deficit. Growth has been overly dependent on consumption and ...
Over the years, the European Union has developed relationships with other international institutions, mainly as a result of its increasingly active role as a global actor and the transfer of competences from the Member States to the EU. This book presents a comprehensive and critical assessment of the EU’s engagement with other international institutions, examining both the EU’s representation and cooperation as well as the influence of these bodies on the development of EU law and policy.
Presumptive income taxes in the form of a tax on turnover for SMEs are pervasive as a way to reduce the costs of compliance and administration. We analyze a model where entrepreneurs allocate labor to the formal and informal sectors. Formal sector income is subjected either to a corporate income tax or a tax on turnover, depending on whether their turnover exceeds a threshold. We characterize the private sector equilibrium for any given configuration of tax policy parameters (corporate income tax rate, turnover tax rate, and threshold). Given private behavior, social welfare is optimized. We interpret the first-order conditions for welfare maximization to identify the key margins and then simulate a calibrated version of the model.
This book discusses the main renewable energy resources, along with the current challenges that make it difficult achieve 100% decarbonized energy sources. It presents the perspectives of international expert authors in the field, giving readers a multi-dimensional view of the subject. The book explores numerous approaches for a smooth transition from fossil fuels to renewable energies, including those based on engineering methods, as well as policies, strategies, and social perceptions. It presents several case studies and examples from industry, showcasing the potential role of renewable sources and their challenges. The inclusion of both established methods and cutting-edge developments will make this book of interest to academics, industry professionals, policy makers, and graduate students alike.
In the June 2015 issue, the Research Summaries review "Migration: An Attractive Insurance Option in African Countries" (Ahmat Jidoud) and "Investment in Emerging Markets" (Nicolas E. Magud and Sebastian Sosa). The Q&A looks at "Seven Questions on Islamic Finance” (Inutu Lukonga). The Bulletin also includes its regular listings of recent IMF Working Papers and Staff Discussion Notes, as well as information on the "IMF Economic Review." A new IMF eLibrary discussion site on energy and climate change is highlighted, along with new recommendations from IMF Publications.