Voters' tax-price perceptions and the provision of government non-marketed goods
Article Abstract:
There has been little research using formal models of voters' misperceptions of tax-prices faced when goods are funded from tax revenues. A two-sector model of private goods and government has been used, and a variety of voter misperceptions gives a range of outcomes. These outcomes depend on factors such as voters' incomes, population size, the extent to which government goods are public, and the type of tax-price misperception inolved. Generalized conclusions on the impact of fiscal illusion should be avoided.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1997
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Optimal money market behavior and sterling interest rates
Article Abstract:
The Bank of England's lending practice of buying bank bills with maturities of more than one day causes short-term money market rates to drop whenever an increase in its official rate is expected. As such, its pursuit of an intermediate target such as the sterling exchange rate is made more difficult. To lessen the volatility in short-term interest rates, the Bank should give loans with a maturity of one day only.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1995
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