Trogdon, Justin G.; Sloan, Frank A. - In: Economic Inquiry 44 (2006) 4, pp. 729-739
In 1998, 46 states and the four major tobacco companies entered into the Master Settlement Agreement (MSA), which stipulated that the tobacco companies pay the states $206 billion over the next several years. Mean cigarette excise taxes rose substantially, nearly 90%, between 1998 and 2002. The...