Tax administration plays a crucial role In determining a country’s real (or effective) tax system. Unfortunately, tax administrations in many countries do not function optimally and distort the intention of tax laws. In order for taxation to have its intended effect on the allocation of...

Given the increasing integration of financial markets, a better understanding of the effects of fiscal deficits and debt on real interest rates might be obtained by taking a global, rather than a national, perspective. The paper constructs aggregate flow and stock data (including GDP, fiscal...