The Tax Smoothing Hypothesis: Some Australian Empirical Results

Geoffrey Kingston and Allan P Layton

Australian Economic Papers, 1986, vol. 25, issue 47, 247-51

Abstract: The central proposition of tax-smoothing theory is that intertemporally efficient marginal-tax rates will be ex ante uniform over time. Australian postwar tax rates, comprising annual data spanning the period 1949/50 to 1984/85, are found to be random walks. These findings lend some (prima facie) empirical support to the "uniformity" proposition. Copyright 1986 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1986
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