A decade ago A. Hatta and J. Haltiwanger (1986) gave a theoretical foundation for the intuitive tax policy recommendation that if two strong substitutes have different ad valorem tax rates, lessening the difference between their tax rates improves consumer's welfare. This note demonstrates that...

Privatization was one of the significant public policy adopted by many countries in the last two decades. Previous and recent studies on its efficacy have focused mostly on the gains at the firm and industry levels. Differing from that approach, this paper attempts to reconsider impacts of the...