Abstract_______________________________________________________________________ The literature concerning the U.S. federal deficit and its implications for the federal government's intertemporal budget constraint seems to have reached a tentative conclusion that starting with the Reagan administration the U.S. federal government has violated its intertemporal budget constraint. Recently the pop...

Previous studies highlight the winners and losers in fisheries under climate change based on shifts in biomass, species composition and potential catches. Understanding how climate change is likely to alter the fisheries revenues of maritime countries is a crucial next step towards the development of effective socio-economic policy and food sustainability strategies to mitigate and adapt to cli...

As the 1990s begin, social security is once again at the center of public debate. Under current projections social security is expected to post substantial surpluses during the next two or three decades and a string of ever-increasing deficits thereafter. In the meantime the social se­ curity trust funds are projected to accumulate large reserves. At the heart of the current controversy is the ...

This paper examines the idea that the rate of inflation tends to increase nominal government expenditures faster than government revenues. it concludes that while government expenditures rise concurrently with inflation, real government revenues tend to fall based on collection tags. Empirical results using time series data for Iran support our expectations in which the longer is the delay in g...

economic times, states often legislate tax increases to create additional revenues, even though standard macroeconomic theory suggests that doing so dampens economic activity. Over the last decade or so, state governments have taken on more responsibility for administering social welfare programs. Thanks to abundant federal aid, a robust national economy, and a decline in the number of particip...

OBJECTIVE To examine the actual and anticipated costs of a law regulating workplace smoking and smoking in restaurants, taking into consideration observed and anticipated infrastructure costs, lost productivity, increased absenteeism, and loss of clientele. SETTING AND DESIGN A survey of 401 Québec restaurants and 600 Québec firms conducted by the Québec Ministry of Health before the enactmen...

In fiscal year 1970, U.S. federal cigarette tax revenues accounted for 13 percent of all federal excise tax collections and 1 percent of total federal budget receipts. By fiscal year 1980, federal cigarette tax revenues accounted for only 10 percent of all federal excise tax collections and only 0.5 percent of total federal budget receipts.’ In fiscal year 1970, U.S. state and local cigarette t...

We explore the growth strategies that are deployed by young technology based firms, which have a commitment to growth. Based on six case studies of high growth firms that pursued different growth strategies, we build theory on why some firms grow in terms of revenue while others grow by building value; two firms grew in employment, two firms grew revenues and two firms grew in terms of both emp...

Gaming revenue trends for Nevada's three major gaming markets-Las Vegas Strip, Reno-Sparks, and South Lake Tahoe-are examined over the past two decades. The Las Vegas Strip had been characterized by cyclical growth from 1990 until 2007, but the Great Recession had dramatic adverse impacts on revenues and employment. Apparent recovery in 2010 was driven largely by baccarat revenues, but they are...

This paper explores the interactions between taxes on work-related traffic congestion and pre-existing distortionary taxes in the labor market. A congestion tax raises the overall costs of commuting to work and discourages labor force participation at the margin, when revenues are returned in lump-sum transfers. We find that the resulting efficiency loss in the labor market can be larger than t...