Considers the practical implications of government economic policies, illustrating how business incentives affect economic behaviour and the performance of the economy. The contributors provide a detailed discussion of monetary, fiscal and international economic issues.

Introduction by Victor A. Canto and Arthur B. Laffer Monetary Policy Capacity Utilization and Inflation by Victor A. Canto World Money and U.S. Inflation by Victor A. Canto and Alex Winters Alternative Monetary Theories of Inflation by Victor A. Canto and Arthur B. Laffer Money, Interest Rates, and Inflation: A Classical View by Victor A. Canto and Arthur B. Laffer The Quality of Inflation Indicators by Victor A. Canto and Arthur B. Laffer The Yield Curve: The Long and Short of It by Victor A. Canto and Arthur B. Laffer Fiscal Policy Bush's Economic Agenda within a Supply-Side Framework by Victor A. Canto and Arthur B. Laffer Tax Amnesty: The Missing Link by Martin G. Laffer and Arthur B. Laffer Fifteen Percent Is Fine, but Indexing Is Divine by Victor A. Canto and Harvey B. Hirschhorn Stylized Facts and Fallacies of Capital Gains Tax Rate Reductions and Indexation by Victor A. Canto and Arthur B. Laffer Friday the 13th: Triple Witching Hour for the Government by Victor A. Canto and Arthur B. Laffer Debt and Taxes Are the Only Certainty by Arthur Gray, Jr., and Arthur B. Laffer Borrowed Prosperity: The Astrology of Consumer Debt by John E. Silvia The Savings Monster by Victor A. Canto and Arthur B. Laffer Are We Climbing the Wall of Resistance toward National Health Insurance? by James Balog International Economic Issues Tax Rate Reductions and Foreign Exchange Rates by Victor A. Canto The Trade Balance: Don't Worry, Be Happy by Arthur B. Laffer National Paedomorphosis: U.K. Progenesis, U.S. Neoteny by Arthur B. Laffer Portfolio Strategies The Legend by Victor A. Canto and Arthur B. Laffer Macroeconomic Shocks and Stock Prices by Victor A. Canto and Arthur B. Laffer The Small-Cap and State Competitive Environment: 1989-90 Update by Victor A. Canto and Arthur B. Laffer International Stock Returns and Real Exchange Rates by Victor A. Canto Index

This volume considers the practical implications of government economic policies, illustrating how incentives and disincentives affect economic behavior and the performance of the economy through an in-depth discussion of monetary, fiscal, and international economic issues. The contributors present a unique top-down approach that enables the reader to trace the impact of government policies through the economy and thereby discover the investment strategies most likely to be successful within a given policy context.