{"title":"Number-3, March 2019","authors":"","doi":"10.35935/tax/23/153","DOIUrl":"https://doi.org/10.35935/tax/23/153","url":null,"abstract":"","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125668091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
James W. Hughes & Joseph J. Seneca, Editors James W. Hughes Joseph J. Seneca W e have just passed through a decade of economic disruptions that we just didn’t see coming. Deceptively, this past decade’s opening year (2000) provided only pleasant surprises, beginning with the fizzled failure of the over-hyped and much-dreaded Y2K bug to appear and solid job growth that seemed to promise there would be no interruption of a long period of unrelenting American prosperity.1 Between November 1982 (the end of the deep 1981–1982 recession) and March 2001 (the end of the 1991–2001 expansion), total employment in the United States increased by an astounding 43.7 million jobs, with 38.8 million of these gained in the private sector. Visions of an ebullient post-millennial economy abounded. Unfortunately, the reality turned out to be punishingly different. Fast forward a decade. It is now Y2K+10. Already onetenth of the twenty-first century is gone. But, most of the nation should be very happy that it is gone! In retrospect, the century’s opening 10-year period comprised America’s lost economic decade.2 For the first time since the 1930s, the nation experienced a loss in private-sector jobs, shedding more than 2.9 million private-sector jobs during the entire decade. The “Great American Job Creation Machine” that generated over 38 million jobs during the late twentieth century stalled badly in the new millennium. During the decade, the nation did experience a mid-period economic expansion (November 2001–December 2007) that was, in fact, considerably longer (73 months) than the average length (57 months) of the 10 preceding post–World War II expansions. But, it was bookended by two severe recessions: 2001 when the tech bubble burst, and 2007–2009 when the housing bubble burst. And the economic expansion, while relatively long, was weak in terms of job growth. It was also, as it turned out, debt-driven and ultimately proved unsustainable. Its main products were unprecedented housing and credit bubbles, rather than lasting income and employment gains.3 And the widespread aftershocks of the bursting bubbles sent America into the Great Recession (2007–2009), the worst economic decline since the Great Depression. The good news is that this decade has now been relegated to the history books. As the first year of a new decade unfolds, the nation is no longer staring at the depths of recession but rather is anticipating potential economic recovery. Accordingly, it is now time to look forward with the perspective of hindsight and assess some key lessons of recent post-millennial events, particularly those that led to the seismic economic downturn. This report will focus on a series of observations and questions about our recent economic past, about the prospects for the current year, and about the likely economic context for the second decade of the twenty-first century. (continued on page 2) 1 The end-of-century period of extraordinary job growth, November 1982 to Ma
{"title":"Number-2, February 2019","authors":"James W. Hughes, J. Seneca","doi":"10.35935/tax/22/219","DOIUrl":"https://doi.org/10.35935/tax/22/219","url":null,"abstract":"James W. Hughes & Joseph J. Seneca, Editors James W. Hughes Joseph J. Seneca W e have just passed through a decade of economic disruptions that we just didn’t see coming. Deceptively, this past decade’s opening year (2000) provided only pleasant surprises, beginning with the fizzled failure of the over-hyped and much-dreaded Y2K bug to appear and solid job growth that seemed to promise there would be no interruption of a long period of unrelenting American prosperity.1 Between November 1982 (the end of the deep 1981–1982 recession) and March 2001 (the end of the 1991–2001 expansion), total employment in the United States increased by an astounding 43.7 million jobs, with 38.8 million of these gained in the private sector. Visions of an ebullient post-millennial economy abounded. Unfortunately, the reality turned out to be punishingly different. Fast forward a decade. It is now Y2K+10. Already onetenth of the twenty-first century is gone. But, most of the nation should be very happy that it is gone! In retrospect, the century’s opening 10-year period comprised America’s lost economic decade.2 For the first time since the 1930s, the nation experienced a loss in private-sector jobs, shedding more than 2.9 million private-sector jobs during the entire decade. The “Great American Job Creation Machine” that generated over 38 million jobs during the late twentieth century stalled badly in the new millennium. During the decade, the nation did experience a mid-period economic expansion (November 2001–December 2007) that was, in fact, considerably longer (73 months) than the average length (57 months) of the 10 preceding post–World War II expansions. But, it was bookended by two severe recessions: 2001 when the tech bubble burst, and 2007–2009 when the housing bubble burst. And the economic expansion, while relatively long, was weak in terms of job growth. It was also, as it turned out, debt-driven and ultimately proved unsustainable. Its main products were unprecedented housing and credit bubbles, rather than lasting income and employment gains.3 And the widespread aftershocks of the bursting bubbles sent America into the Great Recession (2007–2009), the worst economic decline since the Great Depression. The good news is that this decade has now been relegated to the history books. As the first year of a new decade unfolds, the nation is no longer staring at the depths of recession but rather is anticipating potential economic recovery. Accordingly, it is now time to look forward with the perspective of hindsight and assess some key lessons of recent post-millennial events, particularly those that led to the seismic economic downturn. This report will focus on a series of observations and questions about our recent economic past, about the prospects for the current year, and about the likely economic context for the second decade of the twenty-first century. (continued on page 2) 1 The end-of-century period of extraordinary job growth, November 1982 to Ma","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117054241","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Organization for Economic Co-operation and Development (OECD; French: Organization de co-operation ET de development economies, OCDE) is an intergovernmental economic organization with 36 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. As of 2017, the OECD member states collectively comprised 62.2% of global nominal GDP (US$49.6 trillion) and 42.8% of global GDP (Int$54.2 trillion) at purchasing power parity. OECD is an official United Nations observer.
{"title":"An Overview on Organization for Economic Co-operation & Development","authors":"S. Padmini","doi":"10.35935/TAX/21.2416/","DOIUrl":"https://doi.org/10.35935/TAX/21.2416/","url":null,"abstract":"The Organization for Economic Co-operation and Development (OECD; French: Organization de co-operation ET de development economies, OCDE) is an intergovernmental economic organization with 36 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries. As of 2017, the OECD member states collectively comprised 62.2% of global nominal GDP (US$49.6 trillion) and 42.8% of global GDP (Int$54.2 trillion) at purchasing power parity. OECD is an official United Nations observer.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125415667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists.
{"title":"Balance of Trade: Theories and Practices","authors":"P. Nuraini","doi":"10.35935/TAX/21.4133","DOIUrl":"https://doi.org/10.35935/TAX/21.4133","url":null,"abstract":"The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period. Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are \"in balance\" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123863294","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A production–possibility frontier (PPF) or production possibility curve (PPC) is a curve which shows various combinations of set of two goods which can be produced with the given resources and technology where the given resources are fully and efficiently utilized per unit time. One good can only be produced by diverting resources from other goods, and so by producing less of them. This tradeoff is usually considered for an economy, but also applies to each individual, household, and economic organization.
{"title":"Production Possibility Frontier & its Relation to Other Costs","authors":"Sanabil Almubidin","doi":"10.35935/TAX/21.3225","DOIUrl":"https://doi.org/10.35935/TAX/21.3225","url":null,"abstract":"A production–possibility frontier (PPF) or production possibility curve (PPC) is a curve which shows various combinations of set of two goods which can be produced with the given resources and technology where the given resources are fully and efficiently utilized per unit time. One good can only be produced by diverting resources from other goods, and so by producing less of them. This tradeoff is usually considered for an economy, but also applies to each individual, household, and economic organization.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116227186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This essay based on Michaele Parkin, Macroeconomics, 8th edition. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
{"title":"Measuring GDP and Economic Growth: An Economic Barometer","authors":"Alpa Tarun Mohanty","doi":"10.35935/TAX/21.5842","DOIUrl":"https://doi.org/10.35935/TAX/21.5842","url":null,"abstract":"This essay based on Michaele Parkin, Macroeconomics, 8th edition. Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"221 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116423220","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-01-31DOI: 10.35935/910.205/13.21.2019/151
S. Agarwal
The World Economic Forum (WEF), based in Colony-Geneva, Switzerland, was founded in 1971 as a not-for-profit organization. It gained formal status in January 2015 under the Swiss Host-State Act, confirming the role of the Forum as an International Institution for Public-Private Cooperation. The Forum's mission is cited as "committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas".
{"title":"World Economic Forum & its Organization, Membership & Activities","authors":"S. Agarwal","doi":"10.35935/910.205/13.21.2019/151","DOIUrl":"https://doi.org/10.35935/910.205/13.21.2019/151","url":null,"abstract":"The World Economic Forum (WEF), based in Colony-Geneva, Switzerland, was founded in 1971 as a not-for-profit organization. It gained formal status in January 2015 under the Swiss Host-State Act, confirming the role of the Forum as an International Institution for Public-Private Cooperation. The Forum's mission is cited as \"committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas\".","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116036338","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Number-2, December 2018","authors":"","doi":"10.35935/tax/12/185","DOIUrl":"https://doi.org/10.35935/tax/12/185","url":null,"abstract":"","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116461021","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
International trade law refers to the import and export of goods and other things between the two countries. For international trade, it is a very important matter in the business sector to know and observe international trade law in details. In this article we will discuss international trade and international trade law. Which is a very important issue in international trade. The aim of this article was to try to discuss all of the international trade issues. This is just a general review of the different aspects of international trade. There can be different laws or customs for a country or a government about international trade that are not discussed here.
{"title":"A Review of International Trade Law","authors":"M. Ashiquzzaman","doi":"10.35935/TAX/12.6945","DOIUrl":"https://doi.org/10.35935/TAX/12.6945","url":null,"abstract":"International trade law refers to the import and export of goods and other things between the two countries. For international trade, it is a very important matter in the business sector to know and observe international trade law in details. In this article we will discuss international trade and international trade law. Which is a very important issue in international trade. The aim of this article was to try to discuss all of the international trade issues. This is just a general review of the different aspects of international trade. There can be different laws or customs for a country or a government about international trade that are not discussed here.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"423 2-3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114048071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In a developing country, the income of most people is very low and some people earn a lot more than that. Bangladesh is not out of this rule. It is a very hard task to measure the demands of people due to the rising and falling of income suddenly. It is a very natural fact that the income ups and downs suddenly of a developing country due to the political issues, social issues, and naturals disasters. The average income is calculated according to all this. The size of the market depends on the purchasing power of the people. The greater number of people able to reach a minimum of purchasing power, the market size will increase.
{"title":"Effect on Market Size in terms of Average Income and Demand: A Context Concerning Bangladesh","authors":"M. Asaduzzaman","doi":"10.35935/TAX/12.3326","DOIUrl":"https://doi.org/10.35935/TAX/12.3326","url":null,"abstract":"In a developing country, the income of most people is very low and some people earn a lot more than that. Bangladesh is not out of this rule. It is a very hard task to measure the demands of people due to the rising and falling of income suddenly. It is a very natural fact that the income ups and downs suddenly of a developing country due to the political issues, social issues, and naturals disasters. The average income is calculated according to all this. The size of the market depends on the purchasing power of the people. The greater number of people able to reach a minimum of purchasing power, the market size will increase.","PeriodicalId":270343,"journal":{"name":"International Journal of Tax Economics and Management","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125586058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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