This paper considers the role of antitrust action in markets with negative externalities and the social welfare consequences of the 1911 break-up of American Tobacco. A theoretical model shows that monopoly can be the preferred market structure in some cases. We provide rough estimates of the...

This paper investigates the implications of how states with initiative systems of legislation can use this more direct form of democracy to improve productive resource allocation by their goverments. We construct a simple growth model whereby we can identify this channel through which...

The term "international taxation" is something of a misnomer. Tax systems are almost invariably national. An exception is international tax treaties which set tax rules on a bilateral or multilateral basis. International taxation generally refers to the tax treatment of transactions that involve...

This paper uses newly available quality-controlled house price indexes to estimate the extent of capitalization of both taxes and services by looking at the relationship between changes in house prices and changes in school quality, non-school spending, and taxes.