Do democracies have different public policies than nondemocracies
A study of the social, economic and political determinants of public policies and their differences if any between a democracy and a nondemocratic regime is presented. Results obtained from measuring democracy, control variables, examination of case studies and data show no significant difference between public policies of democracies and nondemocracies except for the policy relating to the process of winning and maintaining public office.
Publication Name: Journal of Economic Perspectives
U.S. money demand: surprising cross-sectional estimates
Cross-sectional estimation of the money demand function eliminates many disagreements over the assumption of income elasticity. Data from US states from 1929 and 1990 are used to illustrate the utility of the method. Results ofthe analysis suggests that income and not consumption is the key factor in macroeconomif forecasting. This has significant implications for current and Keynesian economic analysis.
Publication Name: Brookings Papers on Economic Activity
What do aggregate consumption Euler equations say about the capital-income tax burden?
Use of the Euler equation to study the significance of capital income taxation in capital accumulation are presented.
Publication Name: American Economic Review
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