In this paper we provide a formal test of Barro's tax-smoothing model, using Spanish data covering the period 1850-2022. First, we found that the tax-tilting component has been very important for the Spanish government and is a symptom of the existence of a public deficit bias that has existed...

Article 10 of the Nagoya Protocol (NP), "Global Multilateral Benefit-Sharing Mechanism" (GMBSM), asks Parties to consider the distribution of benefits derived from the utilization of genetic resources in transboundary situations. A literature exists which applies the economics of information to...

Many in the United States feel that the nation’s current level of economic inequality is unfair and that capitalism is not working for 90% of the population. Yet some inequality is inevitable. The question is: What level of inequality is fair? Mainstream economics has offered little guidance...