This paper examines the regularity that business cycle peaks and federal elections often arise together in parliamentary democracies as it applies to Canadian data over the post Confederation time period (1870 onwards). Breaking the simultaneity of these two events and properly identifying...

High tax compliance will reduce rather than facilitate the growth of government spending. There are several reasons for this. First, tax evasion reduces the effective price of public programs thus increasing the quantity demanded. Second, tax evasion is not uniform across income classes and the...

While it is clear that Keynes' General Theory of Employment, Interest and Money (1936) has influenced macroeconomic theory, the extent to which his ideas about countercyclical stabilization have altered the course of public policy remains an open question. We develop a dynamic spatial voting...