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Quantitative import restrictions and optimal capital taxes under a system of tax credits
(1998)
This paper examines the optimal capital tax policy under quantitative import constraints, and international capital tax credits. For a small capital-importing country, the optimal capital tax equals the foreign tax under ...
Unit roots and long-run causality: Investigating the relationship between output, money and interest rates
(1998)
In this article we show that sufficient conditions for the unit roots found in the AR representations of time series to persist in bivariate or trivariate VARs amount to long-run non-causality restrictions among the variables ...
Conditional Leptokurtosis and Non-Linear Dependence in Exchange Rate Returns
(1998)
This paper analyzes exchange rate returns for five currencies (Danish krone, Dutch guilder, French franc, Swiss franc, and U.S. dollar). As in Caporale and Pittis (1994), and unlike most of the empirical literature on ...