Globalization and regional economic integration have increased factor mobility and have reduced commercial barriers among countries. In this context, tax competition among national (subnational) governments to attract factors of production and consumers to their respective jurisdictions became...

A specification for the demand for money in economies where inflation is high and stochastic is presented. It uses a generalized functional form and includes the variance of the inflation rate as an explanatory variable, and is estimated for Brazil in the period 1974/94 under the assumption that...