This paper examines the proposition that budget deficits are a major cause of inflation. Economic theory does not unconditionally support the proposition, and available empirical evidence does not support the proposition. During periods of expansion, 1949–1973, the increases in the money...

This article analyzes a recent attempt to test the hypothesis that budget deficits are a major cause of inflation. It finds that the proposed tests are inappropriate for several reasons; chiefly that there is a reverse causation phenomena present for economies with nonindexed progressive tax...

Recent studies have identified various negative effects of public sector corruption. We add to these by considering the association between corruption and deaths due to major earthquakes. After developing a brief theoretical model of the relation between these two variables we test the...

Traffic accidents result in 1 million deaths annually worldwide, though the burden is disproportionately felt in poorer countries. Typically, fatality rates from disease and accidents fall as countries develop. Traffic deaths, however, regularly increase with income, at least up to a threshold...