A note on the sustainability of primary budget deficits

Article Abstract:

Having incurred debt to the private sector, a government may nonetheless sustain a budget deficit, given the following conditions: a small deficit, a moderately-sized fiscal sector, a low time preference rate, and a high growth rate. This hypothesis is tested within an 'overlapping families' framework, involving a zero mortality rate and continuous population growth.

National debt, Public debts, Budget deficits

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Tax smoothing and tariff behavior in the United States

Article Abstract:

A model of tariff behavior is developed and used to test the consistency of tariff movements with tax-smoothing behavior. Public finance theory views tariffs as a component of an optimum fiscal revenue package. Thus, government expenditures must closely follow tariff revenues. The results support this hypothesis, given US data from 1869-1916.

United States economic conditions, Government spending policy, Tariffs

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Does tax smoothing differ by the level of government? Time series evidence from Canada and the United States

Article Abstract:

Research and comparison of data between the United States and Canada indicate that tax smoothing is supported by the federal government and provinces, but not for state and local governments. Tax smoothing consists of the setting of tax rates in order to minimize taxation costs over time.

United States, Canada, Tax Law, Public Finance Activities, Statistical Data Included, Models, Analysis, Tax policy, Tax rates

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