Approaches for estimating noncompliance: examples from federal taxation in the United States

Article Abstract:

Three approaches for measuring tax non-compliance in the US were reviewed. These tax-evasion-detection methodologies implemented by the IRS include intensive data collection for a focused subsample of the population, detection controlled estimation and the comparison of estimates produced by distinct datasets and models. It was found that these three approaches are not reliable measures of tax non-compliance. Recommendation for the development of a more formal methodology to monitor this type of criminal activity is suggested.

Public Finance Activities, Finance, taxation, & monetary policy, Internal Revenue Service, Tax Evasion & Penalties, Measurement, Practice, Tax evasion, Tax penalties, United States. Internal Revenue Service

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Anatomy of an experimental political stock market

Article Abstract:

The Iowa Presidential Stock Market was studied to determine the performance of markets as aggregators of information. The results supported the Hayek hypothesis, which states that markets work even when participants have very little knowledge about other participants or the environment. The research indicated that even nontraditional markets generate correct prices, even with a fairly small number of traders.

Research, Stock-exchange, Stock exchanges

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