Economy
How China’s Approved Destination Status Policy Spurs and Hinders Chinese Travel Abroad
China’s “Approved Destination Status (ADS) policy allows citizens of mainland China to take pleasure trips abroad on group package tours to countries that have negotiated and implemented agreements with China. In this paper, we examine the reasons for this unique preferential and incremental travel liberalization system and how it affects mainland Chinese outbound pleasure travel.
Read MoreQ & A: Economics of Local Food
1. YOU ARE HOSTING A SPECIAL FORUM ON HAWAII’S ECONOMY THIS MONTH. WHAT ARE SOME OF THE TOPICS ARE BEING COVERED? On October 29, we are holding the first UHERO Forum on Hawaii’s economy. There will be a forecast presentation covering the US and China by the Chief Economist of FedX, sessions on investing in […]
Read More20 years of Agriculture in Hawaii: Very Small and Shrinking
[Missing Interactive Figure Goes Here] Adapted from the “Wealth and Health of Nations” re-creation by Mike BostockSource: UHERO Instructions:Mouseover the year to move forward and backwards through time.Mouseover the circles and wait for the tool tip to see the sector name. This chart shows a sector-by-sector overview of the Hawaii economy between 1990 and 2010 with an […]
Read MoreCompassionate Deficit Reduction vs the Fiscal Cliff
Last week both the U.S. Federal Reserve and the European Central Bank made big policy commitments to support the global economy (see Pacific Beat— U.S. and Europe Central Banks Announce Major Policy Changes). But monetary policy is facing an uphill battle at home and in Europe as governments implement austerity programs aimed at reducing deficits. In […]
Read MoreQ & A: Pacific Beat— U.S. and Europe Central Banks Announce Major Policy Changes
1. BOTH THE U.S. FEDERAL RESERVE AND THE EUROPEAN CENTRAL BANK MADE BIG POLICY COMMITMENTS LAST WEEK. WHAT DID THE FED DO? The U.S. Federal Reserve launched a program known in the media as “QE3”. The program involves Fed purchase of long-term bonds and is designed to bring down long-term interest rates. The program announced […]
Read MoreUpcoming Seminar: Tax Expenditures in Paradise
Title: Tax Expenditures in Paradise Speaker: Donald Rousslang (Hawaii Department of Taxation) Date and Room: Friday, September 14 at 3:00-4:15PM, Saunders 515 Abstract This paper examines tax expenditures in Hawaii’s General Excise Tax (GET) and net income taxes. More specifically, it identifies the tax expenditures and provides estimates for their revenue cost. A tax expenditure is a tax […]
Read MoreWhat Should Be the Appropriate Tax Base for Online Travel Companies’ Hotel Room Sales?
This essay examines the current dispute between state and local governments in the U.S. and online travel companies (OTCs) over the appropriate hotel occupancy tax base for online hotel bookings. It addresses the question of what should be the appropriate tax base in designing hotel occupancy tax statutes. It argues that the appropriate tax base should be the full […]
Read MoreQ & A: Generous Tax Credit Leads to Lower Revenue Forecast
1. THE STATE COUNCIL ON REVENUES MET YESTERDAY AND LOWERED ITS PROJECTION FOR GENERAL FUND TAX REVENUES. WHATS UP WITH THAT? I THOUGHT THE TOURISM BOOM WAS ALSO GENERATING TAX REVENUE GROWTH. It is true that the boom in tourism spending and arrivals have contributed to a surge in tax revenues. Transient accommodations tax revenue […]
Read MorePositive Growth in Hawaii’s Visitor Industry
The Hawaii Tourism Authority released Monthly Visitor Statistics for July 2012 today. This year the Hawaii visitor industry has moved into a strong expansionary phase and July proved to be no exception. In general, all major market areas saw positive growth and growth was spread across all four counties during the month of July. Total […]
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