Cost efficiency of banks in 20 former socialist emerging economies is analyzed using a novel methodology - a latent class stochastic efficiency frontier model - that explicitly accounts for unobserved differences in technological regimes due to the heterogeneity of economic environments in which...

This paper examines the impact of regulatory reform on the performance of Spanish savings banks. To this end it uses panel data for the period 1986-1995 and a flexible variable profit function that incorporates time-varying technical efficiency. The focus is whether increased competition brought...

This paper develops a model of corporate investment in which a certain fraction of the investment is immediately expensed. This model is representative of the treatment of costs associated with internally developed intangible assets, which generally are expensed for both financial reporting and...

This research addresses the question of whether taxpayers are income-mobile during 1979-1990. Following prior research, we compare ranks of individuals in the full distribution of income across years. Extending prior research we ask: Does an individual draw his income from some fixed subset of...

This research estimates the distributional effects of replacing existing federal income taxes with a flat tax as proposed by Representative Richard Armey and Senator Richard Shelby. Different assumptions about tax incidence and how the flat tax would be implemented yield somewhat different...

Applies three measures of tax progressivity to a sample of taxpayer data to determine whether the child care credit was regressive during 1979-1986, and whether changes made in 1981 made it more progressive. Concludes that the credit was progressive over the entire period, becoming more...