In this paper the results of six different estimation methods appliead to a linear aggregated model of the Italian economy are at first displayed. Afterwards, the inherent dynamic characteristics and the simulation properties of the six sets of estimates are analyzed. In no case the obtained...

I present evidence that higher frequency measures of inflation expectations outperform lower frequency measures of inflation expectations in tests of accuracy, predictive power, and rationality. For decades, the academic literature has focused on three survey measures of expected inflation: the...

This paper extends previous work presented at the SABE/IAREP conference at St Mary’s University, Halifax (James, 2009). In the earlier paper it was shown that conventional economic theory is used to make the case for tax reform but does not always adequately incorporate all the relevant...

Macroeconomic studies of tax policy in dynamic general equilibrium usually assume that reforms hit the economy unexpectedly and last forever. Here, we explore how previous results change when we allow policy changes to be pre-announced and of finite duration and when these facts are anticipated...

Recent empirical studies have revealed a strong impact of tax changes on corporate finance. Yet, models of economic growth usually neglect financial structure of the representative firm. In order to investigate whether the consideration of firm finance modifies the estimated outcome of capital...

Why are efficiency-enhancing reforms often frail and subject to being undermined over time? Two theories are examined: public-choice theory, which explains this as the possible result of a need, from time to time, to wipe the slate clean in order to retain productivity in the distribution of...

The period from 1971 to 1974 was one of fundamental change in the structure of the Canadian system of taxation. From the federal budget of June 18, 1971, which brought the long process of tax reform to a close, to the introduction of the personal income tax indexing scheme, the variety and...

Starting from 2008, the admission to the BSc program at the ICEF (NRU HSE) is done by the UNE results. 2008 was a transition year: both UNE and internal HSE exams results were counted. Since 2009 the regulations stay stable — only the UNE and Olympiads’ results have been taken into account....

The paper considers efficiency of the Russian Unified State Exam (USE, or EGE, Russian version of SAT), and results of «olympiads» — national students’ contests in economics, mathematics as predictors of ICEF HSE students’ academic achievements. Most courses in ICEF are taught in...

In this the size and power properties of the common factor Im, Pesaran and Shin (CIPS), Wald (W), likelihood ratio (LR) and Lagrange multiplier (LM) tests are investigated when the error term follows a spatial error model. The results from the Monte Carlo simulations used in this study, firstly...