This paper examines the Granger causality between total expenditures, own source revenues, grants received from the State and long-term loans for 12 subgroups of Finnish municipalities. Two panel data sets that cover the years 1985-1992 and 1993-1999 are used in order to compare the effect of...

In this paper we present a logical extension of the Laffer model that casts doubt on the above criticisms of supply-side economics. In particular, we show that (1) because of “dual taxations,†Reagan’s tax rate cuts will unambiguously lead to immediate (short-term) increases in...

Professor Laffer’s paper’ leads me to ask four questions, which I shall address in turn: 1, Is the Laffer curve an accurate depiction of economic reality? 2. Are we in a prohibitive region of the Laffer curve, that is, a region in which a tax rate cut would increase tax revenues?...

This paper has two purposes: to establish that the most frequently proposed form of value-added tax is really a proportional income tax rather than, as it is popularly seen, an inflationary, regressive sales tax; and to propose that this value-added tax be adopted as an alternative to all...

One feels constrained to step lightly in an examination of the Laf- fer curve. Laffer contends that higher tax rates, by removing incen- tive, will discourage work, lead to less output, and thereby reduce government’s total tax revenue. Surely the contention that lower tax rates will...

Max Hartwell’s paper gives us a picture of the good old days. Hav- ing just paid my taxes, or at any rate the federal-income-taxportion of them, Jam not inclined to view favorablyanyleveloftaxesother than none at all. Still, the paper portrays the closest we’ve come in modern times...

Since the early 1870s, when John D. Rockefeller began assembling Standard Oil of New Jersey, the large, usually American-owned and -managed, oil companies have been the most famous and con- troversial business enterprises in the United States as well as throughout most of the world.’ Even...

There are about 1,605,000 acres in about 300 barrier islands and spits in the United States.’ They rim the Atlantic and Gulf coasts from Cape Cod to the Mexican border and vary from small units of 50 acres or less to islands of more than 100,000 acres. Some are lit- tle more than elevated...

The ratification of the federal income tax amendment was the product of two contemporaneous and interrelated movements that swept the United States during the first two decades of the twenti- eth century. The first was what Clifton K. Yearley has styled the “revolution in...

The proposition that increases in tax rates discourage market- sector production and may therefore, beyond a certain level, be counterproductive in raising tax revenue is an old issue in the eco- nomic literature. Its recent revival has generated considerable con- troversy and interest among...