Trends in commodity terms-of-trade since 1970 are estimated for a sizable sample of countries. The predominant pattern for developing countries is that of negative trends, but there is some improvement since 1980, and an increase in the share of manufactures in exports appears helpful. The...

Using a well-recommended procedure and recent annual data for twenty-two countries, Ganger-causality between government revenue and government expenditure, in both current and constant price terms, is assessed for each country. Evidence of statistically-significant causal flow is lacking in at...

Partly following the research done by Blackburn (1967), Musgrave and Musgrave (1984), Musgrave and Thin (1948), Pechman (1973), Ram (1991), and Tanzi (1969, 1976), sensitivity of individual income tax in the United States is studied for the period 1979-2004. Besides a brief discussion of the...

Purpose – The purpose of this paper is to provide a comparison of data on real (purchasing-power-parity – PPP) gross domestic product (GDP) per capita recently released by International Comparison Program (ICP) with the numbers reported in World Development Indicators (WDI) and Penn World...