Purpose: This study investigates the impact of federal income tax rates and budget deficits on the nominal interest rate yield on high-grade municipal tax-free bonds (municipals) in the US. The 58-year study period covers the years 1959 through 2016 and thus is very recent....

This study extends the literature on relative price dispersion by addressing two questions that have remained largely unanswered: (a) What is the impact on relative price dispersion of the variance of the uncertain relationship between money and prices? (b) Is there evidence across industries of...

To date, an overwhelming majority of the literature has addressed mean relationships between producer and consumer price inflation. Granger et al. (1986) represent the only attempt to investigate second moment relationships. We examine the consumer--producer price relationship employing a...

Information and communication technologies (ICTs) have been increasingly promoted as a key solution for comprehensive development, poverty eradication and the empowerment of historically disadvantaged groups, such as women and minorities in the Global South. ICT-based business initiatives, and...

We analyze the effects of trade barriers using highly disaggregated data. The level of disaggregation allows us to separate the effects of tariffs and nontariff barriers (NTBs) into reduction, diversion, and compression effects. We find that multilateral tariffs significantly reduce trade flows...