We formulate a test of the fungibility of money based on parallel shifts in the prices of
different quality grades of a commodity. We embed the test in a discrete-choice model of …

Tobacco use is the single largest cause of preventable death globally, killing more than five
million people each year. Tobacco use also creates considerable economic costs, from …

Recent theoretical work has shown that the incidence of ad valorem and specific taxes may
differ and each may be over or under-shifted onto consumers in the presence of imperfect …

There are surprisingly few estimates of the effects of sales taxes on retail prices, especially
at the firm level. We consider the temporary suspension, and subsequent reinstatement, of …

Excise duties used to be called the orphans of tax policy, because they received relatively
little attention in the tax literature. This has changed greatly in recent years, due to growing …

Later this year, the European Commission has to submit a report to the Council of Ministers
and the European Parliament with its views on tobacco tax policy in the EU. A 2004 …

We conduct a laboratory experiment that tests two fundamental predictions unique to
salience theory. If an agent purchases one of two vertically differentiated products, salience …

We use a rich dataset of weekly cigarette sales to examine how consumers adapt their
behavior before and after excise tax increases—whether by stockpiling or substituting …

The skyscraper index, created by economist Andrew Lawrence shows a correlation between
the construction of the world's tallest building and the business cycle. Is this just a …

Background The distribution of cigarette prices has rarely been studied and compared under
different tax structures. Descriptive evidence on price distributions by countries can shed …