Economics

This paper estimates the impact of corporate income tax rates on corporate tax revenue at the state level over the period 1996-2007 to determine the existence and shape of a Laffer curve for state corporate income taxes. Standard theoretical constructs are used to characterize corporate income tax revenues as a quadratic function of the corporate tax rate. Empirical results using linear, log-log, and semi-log econometric models provide mixed support for the hypothesis of the existence of a state corporate income tax Laffer curve. To isolate the behavioral changes implicit in the Laffer curve theory, nonbehavioral factors that affect the tax base, such as state tax policies (revenue apportionment and throwback rules) and state spending policies (percentage of government revenues allocated to government infrastructure expenditures) are controlled. Results show the existence of a Laffer curve and that its revenue-maximizing rate has declined over time. The rates range from 8.52% to 9.32% for the time period 1996-2002 and 6.03% to 7.47% over the time period 2003-2007. These values indicate that 8 states were taxing on the right side of their Laffer curve in 2002, and 22 states were taxing on the right side of their Laffer curve in 2007. The policy implication is that these states could have experienced higher tax revenues with a lower tax rate.

Two problems exist with the so-called shutdown rule in introductory economics textbooks: sunk costs are included in the calculation of firm production costs and non-sunk fixed costs are ignored in the calculation of costs and the firm's short-run shutdown decision. When production costs only include opportunity cost-and not sunk costs-firms shut down when total revenue is less than total cost. This rule is attractive because it uses only relevant economic costs, follows the long-run exit rule, and is economically intuitive: produce if economic profit is greater than or equal to zero.

Two problems exist with the so-called shutdown rule in introductory economics textbooks: sunk costs are included in the calculation of firm production costs and non-sunk fixed costs are ignored in the calculation of costs and the firm’s short-run shutdown decision. When production costs only include opportunity cost—and not sunk costs— firms shut down when total revenue is less than total cost. This rule is attractive because it uses only relevant economic costs, follows the long-run exit rule, and is economically intuitive: produce if economic profit is greater than or equal to zero.

This paper estimates the impact of corporate income tax rates on corporate tax revenue at the state level over the period 1996-2007 to determine the existence and shape of a Laffer curve for state corporate income taxes. Standard theoretical constructs are used to characterize corporate income tax revenues as a quadratic function of the corporate tax rate. Empirical results using linear, log-log, and semi-log econometric models provide mixed support for the hypothesis of the existence of a state corporate income tax Laffer curve. To isolate the behavioral changes implicit in the Laffer curve theory, non-behavioral factors that affect the tax base, such as state tax policies (revenue apportionment and throwback rules) and state spending policies (percentage of government revenues allocated to government infrastructure expenditures) are controlled. Results show the existence of a Laffer curve and that its revenue-maximizing rate has declined over time. The rates range from 8.52 % to 9...

An inform published by ECLAC in 2003 (Economic Commission for Latin America and the Caribbean) under the title: El Desarrollo económico de America Latina en épocas de globalización-Una agenda de investigación, called on the Institution to design and implement a new research agenda directed toward the reconstruction of long economic series to better understand the past performance of Latin America economy as a whole to make a correct analysis of the present day challenges. Therefore going beyond and complementing the short-term concern with development with a longer view on economic progress. The mentioned paper remember us that it was Raul Prebish who even before Simon Kuznets, made an effort to measured economic progress on the basis of an homogenous and standardized method that he used for Mexico, Brazil , Argentina and Chile. The aim of this paper is to fulfill this gap for Venezuela, profiting from the fact that we are in the middle of the year of the Bicentennial Independence Commemorations. For that purpose we have built a GDP and population historical series starting in 1783 and ending in 2009, employing for the colonial period a statistical method that regresses foreign commerce on the relation between the national product and exports-imports for the period between 1830-1870, before the impact created by the new economic policies implemented by the Autocratic Government of Guzman Blanco with its emphasis on progress. For the series 1830-1949 we employed an expenditure approach to reconstruct the product of Venezuela by using as departing point a dynamic consumer basket to get household/ personal consumption, then adding up government expenditures, net exports and private investment. We link the series from 1783 to 1949 with the Central Bank of Venezuela macroeconomic information for the interval 1950-2009, thus obtaining the GDP and real income series from the late colonial era to the Bolivarian revolution. That is a long economic series of 226 years.

Sin lugar a dudas, uno de mis autores favoritos por lo iconoclasta de sus posiciones que rompen con los esquemas-muchas veces soporíferos y repetitivos-de la economía actual es Geminello Alvi. Alvi es uno de los economistas italianos y europeos más interesantes y, me atrevería a decir, con una cultura densa no muy característica de la profesión hoy en día: un autor con una visión típica del hombre renacentista. Si uno quisiera encasillarlo en un enfoque, tendría que escoger catalogarlo como un outsider, un economista herético, es decir ni ortodoxo ni heterodoxo, siguiendo las denominaciones usuales en el mundo académico. Alvi fungió por años como asistente del gobernador de Banco Central de Italia, Paolo Baffi, en el Banco de Pagos Internacionales de Basilea (fundado en 1930). Asimismo, ha trabajado como editorialista del Corriere della Sera y La Repubblica, editor de la revista económica Surplus, miembro del consejo editorial de la revista Limes (geopolítica), del consejo científico de la Fundación Eni (Ente Nazionale Idrocarburi) e integrante del Consejo de Expertos del Ministerio de Economía y Finanzas. Ha publicado unos trece libros y diversos papers. Entre los libros se pueden resaltar: Una repubblica fondata sulle rendite. Come sono cambiati il lavoro e la ricchezza degli italiani (Milano, Mondadori, 2006); trabajo realizado para el Ministerio de Economía en donde propuso una forma diversa de medir la riqueza 'real' de la sociedad italiana, alejada de los convencionalismos metodológicos de

El objetivo de este trabajo es múltiple, en primer lugar, propone una serie de población de Venezuela de 1783 a 2015, empleando nuevas estimaciones para el periodo colonial, guerra de independencia e información del censo de 2011, también, se incluye un primer análisis acerca del impacto demográfico de las inmigraciones en el crecimiento de la población en el siglo xx. Por otra parte, se presenta una serie del pib para el periodo 1783-1829. Con la nueva serie de población y del pib se obtiene una serie histórica del producto y la población que abarca desde 1783 hasta el 2014.

ABSTRACTThe aim of this paper is to present a historical series of Venezuelan GDP from 1830 to 2012. For that purpose we have employed an expenditure approach to reconstruct the GDP of Venezuela, which could be applied with advantages for others Latin America countries. We were able to identify three long economic phases for Venezuela: The first one from 1830-1924 which we refer as “agrarian economy”; the second one of oil driven development, characterize by a high velocity growth from 1924 to 1977, and the last phase portrayed as one of stagnation and decline from 1977 to 2012.

El objetivo de este ensayo es calcular una serie del Producto Interno Bruto de Colombia desde 1888 hasta 2013. Con ese propósito se hizo una estimación propia para el periodo 1888-1929 empleando el método del gasto, la cual se empalmó con los datos oficiales del Dane. El resultado se expresa en dólares de paridad de compra de 2011 para facilitar las comparaciones internacionales.

El texto en cuestion es un intento, no muy exitoso segun nuestra opinion, de hacer un recorrido a lo largo de la Historia Economica Mundial desde 1500 hasta el presente. Se presenta un conjunto de ensayos breves, unos mas especializados que otros, pero bastante disparejos en los argumentos que se tocan, las regiones geograficas y el tiempo. La linea de tiempo analizada es incoherente con la narracion, y brinca entre epocas, regiones y temas sin mucha logica secuencial y ningun intento de entrelazar los argumentos. Es decir, la primera impresion que se tiene de la lectura es una fragmentacion de la tematica en trozos desconectados. El capitulo conclusivo no ayuda en nada a hilvanar el texto.

El objeto del artículo es examinar algunos aspectos relevantes de las políticas económicas fascistas en Italia durante el periodo 1922-1943. Para tal propósito se analizan las medidas tomadas entre 1922 y 1928 que precedieron a la Gran Crisis del 29, que tuvieron una orientación liberal. A partir de 1929 se comienza a desplegar un conjunto de medidas cuya intención era fascistizar la economía italiana, profundizando la arquitectura institucional corporativista y un conjunto de nuevos entes del Estado orientados al establecimiento de una economía autárquica. Por otra parte, se efectúa un breve análisis de la economía de guerra enfatizando las razones por las cuales la movilización fue limitada.

Cada día aumenta el número de personas, hogares y empresas que utilizan dispositivos con conexión a Internet. Esto muestra que el impacto social de las herramientas que ofrece el internet de las cosas se extiende a todo el mundo, el acceso y uso de estas tecnologías cambia las interacciones sociales en un país, en una comunidad y entre individuos. Este artículo presenta una reflexión conceptual sobre el impacto social del internet de las cosas, como megatendencia de la cuarta revolución industrial (Schwab, 2016). A través de una rigurosa exploración documental, se propone el debate sobre el desconocimiento o estudio del impacto social y la literatura utilizada se consolida en supuestos plausibles para profundizar la investigación en un futuro próximo. La conclusión principal destaca la necesidad de investigar en profundidad sobre los usos y abusos de la conexión humano-internet-cosa para identificar los cambios de la humanidad en torno a los avances tecnológicos.

Crecimiento económico colombiano de 1888 a 2013: una nueva serie del producto interno bruto Resumen. El objetivo de este ensayo es calcular una serie del Producto Interno Bruto de Colombia desde 1888 hasta 2013. Con ese propósito se hizo una estimación propia para el periodo 1888-1929 empleando el método del gasto, la cual se empalmó con los datos oficiales del Dane. El resultado se expresa en dólares de paridad de compra de 2011 para facilitar las comparaciones internacionales.

La política económica del fascismo italiano desde 1922 hasta 1943: breves consideraciones para su comprensión The Economic Policies of Italian Fascism Between 1922 and 1943: Brief Considerations Towards its Understanding tiempo&economía Vol. 2 N° 2-II semestre de 2015 pp. 49-77 Resumen El objeto del artículo es examinar algunos aspectos relevantes de las políticas económicas fascistas en Italia durante el periodo 1922-1943. Para tal propósito se analizan las medidas tomadas entre 1922 y 1928 que precedieron a la Gran Crisis del 29, que tuvieron una orientación liberal. A partir de 1929 se comienza a desplegar un conjunto de medidas cuya intención era fascistizar la economía italiana, profundizando la arquitectura institucional corporativista y un conjunto de nuevos entes del Estado orientados al establecimiento de una economía autárquica. Por otra parte, se efectúa un breve análisis de la economía de guerra enfatizando las razones por las cuales la movilización fue limitada.

Sin lugar a dudas, uno de mis autores favoritos por lo iconoclasta de sus posiciones que rompen con los esquemas-muchas veces soporíferos y repetitivos-de la economía actual es Geminello Alvi. Alvi es uno de los economistas italianos y europeos más interesantes y, me atrevería a decir, con una cultura densa no muy característica de la profesión hoy en día: un autor con una visión típica del hombre renacentista. Si uno quisiera encasillarlo en un enfoque, tendría que escoger catalogarlo como un outsider, un economista herético, es decir ni ortodoxo ni heterodoxo, siguiendo las denominaciones usuales en el mundo académico. Alvi fungió por años como asistente del gobernador de Banco Central de Italia, Paolo Baffi, en el Banco de Pagos Internacionales de Basilea (fundado en 1930). Asimismo, ha trabajado como editorialista del Corriere della Sera y La Repubblica, editor de la revista económica Surplus, miembro del consejo editorial de la revista Limes (geopolítica), del consejo científico de la Fundación Eni (Ente Nazionale Idrocarburi) e integrante del Consejo de Expertos del Ministerio de Economía y Finanzas. Ha publicado unos trece libros y diversos papers. Entre los libros se pueden resaltar: Una repubblica fondata sulle rendite. Come sono cambiati il lavoro e la ricchezza degli italiani (Milano, Mondadori, 2006); trabajo realizado para el Ministerio de Economía en donde propuso una forma diversa de medir la riqueza 'real' de la sociedad italiana, alejada de los convencionalismos metodológicos de

This essay examines the intense flow and re-flow of transnational migrants between Venezuela and Colombia, applying the theory suggested by Thomas Nail in his work the Figure of the Migrant. We initially focus on the regimes of social motion, and how they link with the political figures of migrants and the strategies of expulsion. Then, we consider the demographic contribution of Colombian diaspora in Venezuela and the socio-political repercussion of their current migratory crisis reverse movement. In pursuing the latter goal, we use primary sources like interviews and discuss censuses and surveys from both countries. We concluded that the current migratory flood is shaped by decades of Colombian immigration to Venezuela and the much quoted exodus is part of a new Cold War narrative. Keywords: Colombian diaspora; politics of movement; proletarian; figures of migrants; surplus motion the United States. However, a second wave of immigrants from Venezuela started to arrive from 2015. This new wave had two characteristics, most were underclass workers, and many were descendants of Colombians and returnees. They were the outcome of decades of Colombians migration to Venezuela. In this way to understand this new migratory flow, Colombians, who emigrated to Venezuela and their social condition matters. This work explores a large scale contemporary population movement in a south to south corridor under the lights of techniques of social expulsion and the migrant figures. Figures that emerged from the historical evolution of social orders. I use for that purpose the method and the United States-Mexican case discussed by Thomas Nail in his book The Figure of the Migrant (2015), supplemented with archival sources, ethnographic material like interview, and an analysis on the limits of migratory statistics. The aim of the essay is not to explain the causes of migration but a portrayal of its social conditions and its contemporary hybridity and political complexity. In the first section of the paper, I discuss the political regimes of social motion in both countries and how they induce the flow population and the figures of the migrants associated. Then the essay examines the substantial demographic contribution of Colombians to the population growth of Venezuela. The last segment is an alternative view to the current migration crisis narrative, remarkably influenced by the cold war nature of the clash between Venezuela and the United States and its regional allies. I suggest to look at this flood mostly as a reverse immigration of Colombian families hurt by the economic crisis, and under pressure to leave the country. As a final point, we consider this reverse movement as a kinetic problem involving the last strategy of extensive expulsion: denationalization. From this perspective, the current migratory movement is shaped by Colombian immigration to Venezuela. I gathered material from twenty-one structured interviews to understand the migrant's perspective on various topics like family origins, the decision to come to Colombia, relations with the local bureaucracy, work opportunities, and opinions on Colombian society. Sixteen of these were Colombians, including nine women, of first and second generation, most with Venezuelan passports. The rest were Venezuelans and Italians. I have used my own experience as an immigrant and obtained great help from intense debates , conversations and unstructured interviews with dozens of my Colombian students, colleagues, friends, and people coming from Venezuela I meet on the streets of Bogotá 1. Annania, a civil servant in Venezuela, help me to get the important view from the other side of the hill. Most participants received a pseudonymous to protect them from unexpected repercussions. Long conversations with Italian parents, from my daughter Italian school, allowed me an enriched picture of foreign migrant opinions on Colombian society. I took many notes from these encounters and selected numerous newspaper articles relevant for this research. Politics of movement, petroleum, and the figure of the Colombian migrant The political theory of the migrant suggests a historical perspective that regards migrants subsumed by the evolution of political modes and subordinated to social motion defined by expansion and expulsion. The theory of expansion by expulsion radicalizes and broadens Marx's concept of primitive accumulation since Marx's concept is related with the prior historical age before the rise of capitalism. Nail work unwrapped new angles for studying migrations as the politics of movement or kinopolitics, and as a condition for social orders expansion. The theory emphasizes how different social regimes of accumulation since ancient times, and not only capitalism, bring into play four strategies of social expulsion: territorial, political, juridical, and economic. Each strategy is associated to a kinopower (centripetal, centrifugal, tensional and elastic forces), defined as the mode of circulation. The combinations of social expulsion strategies and mode of circulations produce four categories of migrants: nomad, barbarian, vagabond and proletarian. These figures are denied of their social status (expulsion) to develop new forms of social motion (expansion). These devices of a territorial, political, juridical, and economic expulsion continue to coexist and regulate contemporary migratory processes. The notion of expansion by extensive expulsion is that which matters the most for our analysis. Nail describes three different ways in which such movements take place: penal transportation, as those carried out in the eighteenth century from Great Britain to her colonies; The emigration of the relative surplus of the population when the economy reaches a critical juncture, and the denationalization of returned migrants or the annulment of their citizenship rights. Therefore, the population flows in the Colombian-Venezuelan migratory corridor may be illustrated by considering the political regimes of social motions in both countries, along with the strategies of expulsion and the migrant figures they produce. Colombia has been, during great part of the twentieth century, a booty capitalist economy. Weber outlined booty capitalism as a manner of acquiring wealth and riches by the way of war, plunder, and speculative adventures (Parkin 2002). Many characteristics of this type of capitalism are to be found in the Colombia economy, like the large concentration,-through war and displacement-of land in few hands. In the cocaine production that gave rise to a powerful narcobourgeoisie integrated into the legal economy and institutions (Richani 2013) and that in the words of Arias Felipe (2019) is a "macroeconomic stabilizer". A country locked in a vicious war over the control and commodification of land and governed indirectly as a European colonial empire (Robinson 2013). The national political elite, living particularly in the capital Bogotá, have left vast geographical spaces, in exchange for its power and stability, in the hand of provincial elites associated with non-state armed groups (paramilitaries and drug trafficking bands). Rural and frontier regions of Colombia live in a perpetual low-intensity armed conflict (Hristov 2014). This indirect form of rule produces chaos and expansive expulsion of social motion. The Colombian kinopolitics order displays an embedded tendency to expel the population to preserve political stability, shelter the power elites from social unrest and promote economic wealth concentration and capital accumulation by dispossession (Glassman 2006). As Koessl, using Bourdieu's sociological categories, states: (...)The opening argument of the analysis is that the structure of the field is preserved in Colombia thanks to an inherent violence that comes from the beginning of the 20th century. This violence, assimilated into the habitus of the Colombian social agents, differs from other cases in Latin America. In Colombia, violence is part of history and, therefore, an accepted praxis for the solution of conflicts that allows to overcome the barriers to system reproduction. (Koessl, 54) Population displacements from their land and means of production began during the era known as La Violencia (1948-1961). Forced migration reached the astounding number of 2 million persons out of a population of 11 million, expanding the production frontier of cash crops by reducing subsistence peasant agriculture. The development of a neoliberal extractive economy (expansion) in the last two decades, such as oil, coal mining, biofuels and extensive livestock led to a new cycle of dispossession and forced displacement, with the expropriation of lands of peasant communities, and minority groups like natives and Afro-descendant populations. It deprived all these folks of their social status (expulsion), means of productions and political rights, criminalizing them or restricting their access to work through unemployment. A structural surplus of social motion is produced by continuous enclosures (Ruiz Ruiz and Santana Riva 2016; Hough 2007). This surplus either moves to Colombian urban centers swelling the informal economy or leaves (emigrates) the country. The unit of victims of the Colombian government registers 7,364,964 persons forcefully displaced (data from the Unidad para la Atención y Reparación Integral a las Víctimas), from 1999 to 2015. The extractive economy, during that time, thrived and an amalgam of nonstate armed groups (paramilitaries), local and national elites, and transnational capital seized and concentrated from 8 to 10 million hectares of good quality land. The political economy that guides all these actors was argued with a contemporary wit by Marx in a letter to Sigfrid Meyer and August Vogt, when Marx wrote: "in reducing the Irish population by eviction and forcible emigration, to such a small number that English capital (capital invested in land leased for...