This paper provides a new explanation for "tax holidays," as well as their subsequent removal in a tax reform stage. In a two-period model, I assume that perfectly competitive foreign investors are uncertain about the host country government's propensity for public spending, and that infinitely...

We construct the ratio of the post-fisc to the pre-fisc transitory component of the variance of family incomes in Canada from 1993 and 2008. The ratio measures how much the tax and transfer system attenuates market income instability. It is shown that the ratio of variances is equivalent...

Norwegian spring-spawning herring (Clupea harengus) is the largest fish stock in the North Atlantic and is harvested by many nations. The introduction of new technology in the 1960s resulted in a substantial increase in the efficiency of the fishing fleet. As a consequence, the stock was fished...