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| Jou, Jyh-Bang; Lee, Tan. |
| This article compares the effects of various fiscal policies on choices of development timing and capital intensity when rents on housing follow geometric Brownian motion with those when rents follow arithmetic Brownian motion. These policy instruments include fees on capital, housing, and land, and taxes on urban income, and properties both before and after development. Regardless of the motion of rents, when one choice is fixed, the effects of these policy instruments on the other choice are qualitatively the same. When the two choices are determined endogenously, although these policy instruments exhibit the same qualitative effect on the choice of development timing, they may exhibit different effects on the choice of capital intensity if rents on... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Capital intensity; Development Timing; Fees; Taxation; Real Options; International Development; G13; H21; H23; R52. |
| Ano: 2007 |
URL: http://purl.umn.edu/10352 |
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| Roosen, Jutta; Hennessy, David A.. |
| Among the prominent recognized features of the industrialization of animal production over the past half century are growth in the stock of inflexible or use-dedicated capital as an input in production and growth in productivity. Less recognized is a trend toward aseasonal production. We record the deseasonalization of animal production in the United States and Europe over the past 70 years. We also suggest that (a) lower seasonality can precede or Granger-cause increased productivity because of increased capital intensity, and (b) productivity improvements can Granger-cause lower seasonality. Process (a) should be more likely earlier in the industrialization process. For U.S. dairy production, our empirical tests find some evidence that process (a)... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Capital intensity; Causality; Dairy; Regional production systems; Livestock Production/Industries. |
| Ano: 2004 |
URL: http://purl.umn.edu/18376 |
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