Neglecting the redistributive effects of a progressive income tax in an inflation, current literature in macroeconomics and public finance offers two contradictory explanations of consumption-based redistributions to the government during inflation. One explanation, the consumer illusion...

This paper uses the EGARCH-M model to examine the impact of federal securities statutes on the mean and variance of total real U.S. stock market returns. In contrast to previous work, this study employs a longer time period, utilizes a broader array of stocks and examines the impact of eight...