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The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its...
Persistent link: https://www.econbiz.de/10012781111
This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds should be saved to help insulate living stands against this change. A number of...
Persistent link: https://www.econbiz.de/10012781216
This paper considers the merits of reducing or eliminating some specific tax expenditure measures currently in force in the United States with a view to reducing the federal fiscal deficit. The paper starts from the observation that savings decisions in the United States are distorted and that...
Persistent link: https://www.econbiz.de/10012781416
This paper describes how economic behavior in the market for health care in the United States is influenced by a range of impediments to the functioning of the price mechanism which impart an upward bias to health care costs and imply efficiency losses. The paper also considers how to reform the...
Persistent link: https://www.econbiz.de/10012781519
Six Latin American countries have levied taxes on withdrawals from bank accounts, which have been viewed as a convenient tax handle during a difficult fiscal period. The paper reviews the arguments for and against this type of taxation, describes the taxes, and surveys their revenue performance...
Persistent link: https://www.econbiz.de/10012782873
Persistent link: https://www.econbiz.de/10008012943
This paper is primarily an attempt to estimate econometric demand equations for beer and spirits in Ireland, but it is hoped that it also sheds light on some of the general considerations involved in empirical demand analysis. The results, taken in conjuction with earlier studies, suggest that...
Persistent link: https://www.econbiz.de/10009475713
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