The incidence of the burden of a tax is usually presented as an application of elasticity in introductory economics. A more useful exposition of tax incidence results if slope is used rather than elasticity.

The ghost towns of the American West are both intriguing historical artifacts and reflec-tions of unique economic forces at work. In this study we develop linked labor and housing market models balancing the wages, rents, and local amenities of isolated boomtown sites to better understand the...

Elected representatives have little incentive to pursue the interests of those electing them once they are elected. This well-known principle-agent problem leads, in a variety of theories of government, to nonoptimally large levels of government expenditure. An implication is that budgetary...

Fiscal policy has become quite controversial in the post-Keynesian era, the debate over the Obama stimulus package being a contentious recent example. Some pundits go so far as to take the position that macroeconomic theory has failed to meaningfully progress in terms of providing useful...