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In the increasingly global business environment of the 1990s, policymakers and executives of multinational corporations must make informed decisions based on a sound knowledge of U.S. and foreign tax policy. Written for a nontechnical audience, Taxing Multinational Corporations summarizes the up-to-the-minute research on the structure and effects of tax policies collected in The Effects of Taxation on Multinational Corporations. The book covers such practical issues as the impact of tax law on U.S. competitiveness, the volume and location of research and development spending, the extent of foreign direct investment, and the financial practices of multinational companies. In ten succinct chap...
Commemorating the 25th anniversary of the Telecommunications Policy Research Conference (TPRC), this volume begins with a historical survey of a quarter-century of TPRC meetings as one measure of change in and research about the telecommunications industry. Additional papers reflecting the ongoing pace of change in technological, economic, and policy issues are organized around four topics: * economic analysis of local and international telephone policy; * media industry studies including video competition, guidelines for children's educational television, and the setting of AM stereo standards; * applications and policy regarding the Internet; and * comparative studies in telephone and satellite policy. Collectively, the contents of this volume assess key issues for scholars, policymakers, and practitioners. Research reported in this volume illustrates the continually expanding scope of scholarly concerns about the telecommunications and information industry and contributes to further policy research and analysis.
An argument that the movement for network neutrality was of a piece with its neoliberal environment, solidifying the continued existence of a commercially driven internet. Media reform activists rejoiced in 2015 when the FCC codified network neutrality, approving a set of Open Internet rules that prohibitedproviders from favoring some content and applications over others—only to have their hopes dashed two years later when the agency reversed itself. In this book, Russell Newman offers a unique perspective on these events, arguing that the movement for network neutrality was of a piece with its neoliberal environment rather than counter to it; perversely, it served to solidify the continue...
In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
A comprehensive account of the decades-long, multiple antitrust actions against Microsoft and an assessment of the effectiveness of antitrust law in the digital age. For more than two decades, the U.S. Department of Justice, various states, the European Commission, and many private litigants pursued antitrust actions against the tech giant Microsoft. In investigating and prosecuting Microsoft, federal and state prosecutors were playing their traditional role of reining in a corporate power intent on eliminating competition. Seen from another perspective, however, the government's prosecution of Microsoft—in which it deployed the century-old Sherman Antitrust Act in the volatile and evolvin...
The Internet has rapidly become an important element of the economic system. The lack of accepted metrics for economic analysis of Internet transactions is therefore increasingly problematic. This book, one of the first to bring together research on Internet engineering and economics, attempts to establish such metrics. The chapters, which developed out of a 1995 workshop held at MIT, include architectural models and analyses of Internet usage, as well as alternative pricing policies. The book is organized into six sections: 1) Introduction to Internet Economics, 2) The Economics of the Internet, 3) Interconnection and Multicast Economics, 4) Usage Sensitive Pricing, 5) Internet Commerce, an...
The Telecommunications Act of 1996 and the Federal Communications Commission's Local Competition Order are just two examples of the continuing monumental and far-reaching changes occurring throughout the telecommunications industry. At the 1996 Telecommunications Policy Research Conference (TPRC) -- an annual forum for dialogue among scholars and the policymaking community on a wide range of telecommunications issues -- leading industry and academic researchers presented results of their research and insights in key areas of activity, including: *interconnection and competition; *Internet growth and commerce; *Internet regulation and control; and *the political economy of telecommunications regulation. The best of the 1996 TPRC papers are included here, representing the forefront of research in the telecommunications industry. The third in an annual LEA series of volumes based on this important conference, this collection reflects the rapid economic, technological, and social development of telecommunications. It also reflects the current state of research thinking on this issue and provides a foundation for further telecommunications policy analysis.
Are all film stars linked to Kevin Bacon? Why do the stock markets rise and fall sharply on the strength of a vague rumour? How does gossip spread so quickly? Are we all related through six degrees of separation? There is a growing awareness of the complex networks that pervade modern society. We see them in the rapid growth of the internet, the ease of global communication, the swift spread of news and information, and in the way epidemics and financial crises develop with startling speed and intensity. This introductory book on the new science of networks takes an interdisciplinary approach, using economics, sociology, computing, information science and applied mathematics to address fundamental questions about the links that connect us, and the ways that our decisions can have consequences for others.
The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume II refutes Keynesian and real business cycle theories and provides policy prescriptions to virtually eliminate the cycle. Simpson offers a detailed analysis of several historical monetary systems around the world and shows the causes and effects of fiat money and fractional-reserve banking, as well as a 100-percent reserve gold standard.
The tax rules of the United States and other countries have intended and unintended effects on the operations of multinational corporations, influencing everything from the formation and allocation of capital to competitive strategies. The growing importance of international business has led economists to reconsider whether current systems of taxing international income are viable in a world of significant capital market integration and global commercial competition. In an attempt to quantify the effect of tax policy on international investment choices, this volume presents in-depth analyses of the interaction of international tax rules and the investment decisions of multinational enterpris...