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Full-Text Articles in Public Economics

Providence's Unending Quest For Cash, Chester Smolski Jun 1993

Providence's Unending Quest For Cash, Chester Smolski

Smolski Texts

"The mayor of Providence has a big problem. How can he balance a budget that addresses the needs of an increasingly large number of people, yet deal with a declining tax base that is less able to pay for theses extra services?"


How Goes The American Dream?, Chester Smolski Jan 1993

How Goes The American Dream?, Chester Smolski

Smolski Texts

"Americans are a hard-working lot. The ambitious American worker has fewer holidays, less vacation time and other benefits than Western Europeans. They are well-rewarded for their pursuit of the American dream. Home ownership rates in this country are among the highest rates in the world. The typical American worker has more cars and more kitchen gadgets, electronic hardware, recreational gear and more computers in his home than any other worker in the world."


A Test Of The Theory Of Optimal Taxation For The United States, 1869-1989, Gregory Hess Jan 1993

A Test Of The Theory Of Optimal Taxation For The United States, 1869-1989, Gregory Hess

CMC Faculty Publications and Research

A popular theory of optimal tax policies suggests that tax rates should follow a random walk. This paper extends the existing empirical literature in three ways. First, the impact on the marginal utility of consumption when the government chooses a tax plan to smooth the distorting impact of taxes is considered. Second, exogenous changes in the real rate of interest are incorporated into the government's optimal tax plan. Finally, the tax elasticity of output is not constant over time. Allowing for these changes, there is evidence that the government discounts the future, attempts to smooth the distorting impact of taxes …