Previous work on the effect of taxes on foreign direct investment (FDI) focused primarily on capital income taxes. We investigate the proposition that other forms of taxation may also deter FDI. We use tax ratios, i.e., average effective tax rates, on consumption, labor and capital income for a...

A new approach to explaining the value of colonial paper money that relies on their distinctive character as bills of credit is presented. The market value of these bills is decomposed into their real asset present value and their liquidity premium value. This approach is applied to the newly...

Economic theory and empirical evidence indicate that technological innovation is an important determinant of long-term economic development. Various country policies have been launched in favour of private research and development (R&D) with economic development as the main objective. As often...

Policy makers and the healthcare industry have proposed changes to physician payment structures as a way to improve the quality of health care and reduce costs. Several of these proposals require healthcare providers to employ a valuebased purchasing program (also known as pay-for-performance...

The economics profession has consistently demonstrated an interest in increasing the number of students exposed to economics, providing students with a quality education and identifying the key determinants of student success in the economics curriculum. Several strategies have been recommended...

A sobering lesson from the Great Recession is that widespread worry about government debt generates strong political resistance to enacting a fiscal stimulus large enough to overcome a severe recession. Fortunately there is a way to implement fiscal stimulus without increasing government debt....

The gender earnings ratio for year-round full-time workers varies substantially across U.S. states, with a range of 24 percentage points. I examine the source of this variation to assess whether it is genuine or reflects compositional differences that vary across state. Using CPS data, I...

Over the past half century higher education has become an ever more important part of developed economies as an every greater number of young people need to prepare for a more complex world. This paper compares the response to this challenge in France and the US. This is a particularly...

This study investigates the effect of the “Keys to Financial Success” high school personal finance curriculum on student achievement. It relies on multiple years of pre- and posttest data from 1,701 students who took a “Keys” course and from a comparison group of 261 students from the...

While federal financial rescues have become a common response to crises, federal provision of finance was not one of the original powers of the federal government. One man, Eugene Meyer, is largely responsible for the origin of federal financial rescues, through both the War Finance Corporation...