This study investigates the effect of property taxes on real business decisions. Consistent with tax avoidance, we posit that personal property tax rates are associated with decreases (increases) in inventory prior to (following) assessment dates. We empirically test this prediction using both...

In economies with multi-level governments, why would a change in the fiscal rule of a government in one level lead to a fiscal response by a government in a different level? The literature focused primarily on the standard common-pool problem, while giving little attention to the potential role...

The rapid rise in the price of crude oil between 2004 and the summer of 2006 are the subject of debate. This paper investigates the factors that might have contributed to the oil price increase in addition to demand and supply for crude oil, by expanding a model for crude oil prices to include...