This paper tests the extended tax-smoothing model for a sample of 32 developing countries. Importantly, the testable implications employed relax the assumption of constant money velocity. Although seigniorage is an important source of revenue in developing countries, all the evidence indicates...

In this paper, we estimate separate UK money demand functions for the household and corporate sectors; and calculate estimates of the welfare cost of inflation. We find that the household sector bears most of the welfare burden which is in sharp contrast to previous (US) evidence. Also, we find...

This paper tests the extended tax‐smoothing model for a sample of 32 developing countries. Importantly, the testable implications employed relax the assumption of constant money velocity. Although seigniorage is an important source of revenue in developing countries, all the evidence indicates...

Competition reduces rent extraction in private-sector firms. In this article, we empirically assess whether it similarly disciplines politicians by evaluating local-level governments' performance in Flanders. The results indicate that <italic>electoral</italic> competition -- measured via the number of parties...

<title>Abstract</title> Cross-section data on secondary level student choices provide evidence on factors influencing the decision to study economics. Such evidence makes a key contribution to the broader debates on why student numbers have been falling in economics and why women are reluctant economists....