This study examines, for the period 1963-1995, the impact of federal budget deficits in the US on interest rates at commercial banks. Interest rates at banks have been largely neglected in the deficit/interest rate literature for the US. Moreover, the deficit/interest rate literature for the US...

This study examines, for the period 1963-1995, the impact of federal budget deficits in the US on mortgage interest rates at commercial banks. Interest rates at banks have been largely neglected in the deficit/interest rate literature for the US. Moreover, the deficit/interest rate literature...

The impact of property taxes on the cost of livings are examined. Using county data for the state of Florida, the instrumental variable (IV) heteroscedasticity-corrected results indicate that the per capita property tax exercises a positive and significant impact on the cost of living.

The Ricardian equivalent theory is examined by dichotemizing the total US federal budget deficit into its structural (exogeneous) and cyclical (endogeneous) components. The former is hypothesized to be the expected, planned deficit, whereas the latter is viewed as the unpredictable, unplanned,...

This study re-examines the relationships between school performance (at the high school level) on standardized exams and both teacher pay/salaries and teacher quality, where the latter is measured by teachers’ human capital. To undertake this analysis, we employ Academic Performance Index...

This study tests for direct causality between RealClearPolitics (RCP) polling averages and InTrade (IT) share-prices by performing Granger causality tests. These tests are applied to the 2012 U.S. presidential election campaign between Barack Obama and Mitt Romney. Three time series are...

In their seminal work, The Calculus of Consent (1962), Buchanan and Tullock develop a decision model which embodies fundamental relation­ships relevant to institutional choices. However, the Buchanan-Tullock model remains "general," thus inviting others to specify details and to develop...

Using two alternative measures of expected inflation, this study investigates the impact of federal budget deficits on nominal long-term interest rate yields for the 1973.2-1995.4 period. Based on an open­ economy loanable funds framework, four instrumental variable esti­mates in first...

What would the true government expenditure and tax burden im­pacts of California's Proposition 4 likely be if it (or its equivalent) were enacted in all 50 states? What happened to actual state plus local government expenditures per capita over the period 1970-1976 is examined. Next, we examine...

This paper investigates the determinants of student choice of under­graduate major field. It argues that this choice depends on a variety of pecuniary and non-pecuniary factors. After allowing for the recent trends toward Accounting and Business Administration, the empirical results indicate...