This research presents a dynamic model of crime in which agents anticipate future consequences of their actions. Current period decisions affect future outcomes by a process of capital accumulation. While investigating the role of human capital, the focus of our study is on a form of capital...

This paper re-examines criticisms made of vertical fiscal imbalance in Australian and other federations. We argue that one of the central criticisms made of vertical fiscal imbalance is unproven. Vertical fiscal imbalance occurs when the central government collects more taxes than it spends on...

In this paper we attempt to relate the discussion of the discovery and production of gold which appears in the literature on international monetary economics to that found in writings on economic development in the regions of recent settlement. An examination of both national and regional...

This paper exnmines two issues pertinent to the effective implementation of monetary policy: firstly, the ability of the monetary authorities to control interest rates and secondly, whether interest rates have exhibited a leading relationship with economic activity since deregulation of the...

The historical analysis of US regional growth is improved by augmenting existing estimates of state personal income per capita, extending previous studies of convergence across states, and more broadly, offering an improved basis for interpreting other issues in regional development such as the...