Cashin, P.; Haque, N.; Olekalns, N. - Department of Economics, Faculty of Business and Economics - 1999
This paper tests a version of Barro's tax-smoothing model, which assumes intertemporal optimization by a government seeking to minimize the distortionary costs of taxation, using Pakistan and Sri Lankan data for the periods 1956-95 and 1964-97, respectively. The empirical results indicate that...