This paper describes a newly constructed macroeconomic database for Australia including measures of GDP, its components, prices, and key monetary and labour market statistics over the last fifty years as published and revised in real time. Data vintages are collated from various sources and...

India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper tests a version of Barro’s tax-smoothing model, using Indian data for the period 1951-52 to 1996-97. The empirical results indicate...