This study empirically investigates the impacts of central government budget deficits and economic freedom on per capita real economic growth in OECD nations over the period 2006-2012. Economic growth is measured by the percentage growth rate of purchasing-power-parity adjusted real per capita...

This study provides current, new empirical evidence on the impact of the U.S. federal budget deficit on the nominal interest rate yield on nominal ten-year U.S. Treasury notes. The study is couched within an open loanable funds model that includes an ex ante real short term real interest rate...

This study empirically investigates the determinants of aggregate federal personal income tax evasion in the U.S. using the most current data available from the IRS. In 2010, the IRS released a new series on personal income tax evasion data running through the year 2005. Using this new data, the...

This study uses causality tests to determine the direction of causality between U.S. federal budget deficits and ex ante real long-term interest rates. For the 1971-1991 period, it is found that the ex ante real long-term interest rate may cause the structural budget deficit.

In this study, heteroskedasticity-corrected two stage least squares estimation is used to identify determinants of the inflation rate in Ecuador over the 1950-1995 period. During this time frame, Ecuador made the transition from an oil-importing nation to a net oil-exporting nation. Accordingly,...

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This study investigates the proposal to reduce the ratio of longer-term interest rates to short-term interest rates in the United States by shortening the maturity structure of the federal (central) government debt. The estimates presented provide very strong empirical support for such a policy...

This study develops a theoretical model to examine the impact of central government budget deficits on economic systems. The model addresses the issue from a supply-side perspective. It is shown that the budget deficit can itself he used by governments as a policy tool to influence the level of...

The Tax Reform Act of 1986 (TRA) has sometimes been portrayed as a genuine effort to introduce fairness, simplicity, and economic growth considerations into the Internal Revenue Code of the U.S. Although regarding the TRA as far from adequate, the late Richard Musgrave did in fact regard this...

This study empirically investigates the impact of federal personal income tax rates and IRS personal income tax return audit rates on aggregate income tax evasion over the 1957-1997 period. This period represents the longest over which the potential tax-evasion impacts of these two factors in...