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on Tourism Economics |
| By: | Simone Borghesi (University of Siena); Angelo Antoci (University of Sassari); Marcello Galeotti (University of Florence) |
| Abstract: | This paper analyses the effects on economic agents' behaviour of an innovative environmental protection mechanism that the Public Administration of a tourist region may adopt to attract visitors while protecting the environment. On the one hand, the Public Administration sells to the tourists an environmental call option that gives them the possibility of being (partially or totally) reimbursed if the environmental quality in the region turns out to be below a given threshold level. On the other hand, it offers the firms that adopt an innovative, non-polluting technology an environmental put option that allows them to get a reimbursement for the additional costs imposed by the new technology if the environmental quality is above the threshold level. The aim of the paper is to study the dynamics that arise with this financial mechanism from the interaction between the economic agents and the Public Administration in an evolutionary game context. |
| Keywords: | Environmental Bonds, Call and Put Options, Technological Innovation, Evolutionary Dynamics |
| JEL: | C73 D62 G10 O30 Q28 |
| Date: | 2009–10 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2009.90&r=tur |
| By: | Robert Baumann (Department of Economics, College of the Holy Cross); Bryan Engelhardt (Department of Economics, College of the Holy Cross); Victor Matheson; Taylor Ciavarra (Department of Economics, College of the Holy Cross) |
| Abstract: | We estimate the impact sporting events have on local crime rates using the technique developed in Arellano and Bond (2001). For events, we consider the presence of MLB, NBA, NFL, and NHL franchises as well as whether a city held one of the respective championships, the Olympics, or World Cup matches. We find little to no evidence that sporting events are correlated with either property or violent crime. |
| Keywords: | Crime, Sports Economics, Economic Impact |
| JEL: | L83 O18 R53 |
| Date: | 2009–11 |
| URL: | http://d.repec.org/n?u=RePEc:hcx:wpaper:0913&r=tur |
| By: | Sally Kwak (Department of Economics, University of Hawaii at Manoa); James Mak (Department of Economics, University of Hawaii at Manoa) |
| Abstract: | Economic theory suggests that switching from a general property tax to a split-rate tax increases land use efficiency and stimulates urban core development while preserving the environment and reducing urban sprawl. Under split-rate property taxation, land is typically taxed at a significantly higher rate than improvements (buildings). Since the mid-1960s, Hawaii lawmakers have experimented with the split-rate system to encourage economic growth and effect land reform. Recently, Kauai County has adopted the unusual practice of taxing improvements at a higher rate than on land. Kauai’s “inverted” split rate property tax provides tax relief to residents who own and occupy modest homes and simultaneously exports taxes to the tourist industry and visitors. This paper chronicles and explains the rationale behind Hawaii state and county experiments with split rate property taxation. |
| Keywords: | Property taxes, split rate property taxation, tourist taxes |
| JEL: | H |
| Date: | 2009–07 |
| URL: | http://d.repec.org/n?u=RePEc:hai:wpaper:200915&r=tur |
| By: | Arne Feddersen (University of Hamburg); Wolfgang Maennig (University of Hamburg) |
| Abstract: | We estimate the economic effects of the 1996 Atlanta Olympic Games. Our difference in difference model checks for serial correlation and allows for a simultaneous test of level and trend effects, but otherwise follows HOTCHKISS, MOORE, & ZOBAY (2003) in this journal. We were not able to reconfirm their finding that the Games had significant positive employment effects. We do, however, reaffirm their result of no significant wage effects. |
| Keywords: | Olympic Games, sports economics, mega events |
| JEL: | H54 R12 L83 |
| Date: | 2009–11 |
| URL: | http://d.repec.org/n?u=RePEc:spe:wpaper:0916&r=tur |
| By: | Martins, Alexandre; Pinto, Hugo |
| Abstract: | The article discusses the central conclusions of the study "Evaluation of Regional Fiscal Framework: Business Location and Local Finance" (Barreira, 2008). A reflection on some of the core principles of local finance, equity and benefit, shows that there are inconsistencies in the case of the Algarve. The region has generated tax revenue above the national average in which the property taxes have a disproportionate weight. This situation underlines the dependency of municipalities in the Algarve to the real estate activities around tourism. The number of companies registered does not adequately represent the level of economic activities carried out in the region. Many firms have the headquarters situated in other regions and fracture the desired balance between the recipient and taxpayer. The paper shows that a correction of this problem could increase the weight of the Algarve's economy in the national total and significantly increase the regional tax revenues. |
| Keywords: | Local Finance; Algarve; Benefit; Tax Revenue |
| JEL: | R11 H3 |
| Date: | 2009–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:18515&r=tur |