We examine the relative dynamic responses of state personal tax revenues and sales tax bases to changes in state personal income. Our econometric analysis, which includes separate analyses of long-run and short-run dynamics for each state, permits the estimation of asymmetric short-run responses...

We examine the relative importance of tax rates and macroeconomic fluctuations in explaining the share of national adjusted gross income (AGI) reported by the top 0.5% of all taxpayers. Results indicate that cutting the top income or capital gains tax rate would increase the top AGI share but...

Wohar and Sollis (2007) test for asymmetric threshold cointegration in the term structure of interest rates for several OECD countries. They use the Engle-Granger (1987) method to construct the error correction term, and this estimated error correction term is then used to test for asymmetric...