Intertemporal Tax-Smoothing and the Government Budget Surplus: Canada and the United States
检验税收平滑假说，认为若政府平滑税收，预算盈余应等于预期政府支出变化的现值。对加拿大和美国联邦预算的实证分析支持该假说。
This paper shows that, if the government smooths taxes, then the budget surplus should equal the present discounted value of expected changes in government expenditure. This implication of the tax-smoothing hypothesis imposes more stringent restrictions on the data than the more usual method of testing whether changes in tax rates follow a random walk. The tax-smoothing model is applied to the federal government budgets of Canada and the United States and, in each case, receives considerable empirical support. Copyright 1995 by Ohio State University Press.