Swan, Tina Ting; Sun, Bruce Qiang; Floss, Frederick - In: Journal of Economic Studies 46 (2019) 3, pp. 652-670
Purpose: The purpose of this paper is to show how the taxation effect on cross-state smuggling can be a valid instrumental variable for lagged and future consumption together with the local price series. Design/methodology/approach: On the same grounds, the authors raise the question using the...