The Income Elasticity of Gross Casino Revenues: Short–Run and Long–Run Estimates
AbstractWe examine how gross casino gambling revenues differ from other major tax bases in growth and variability. Long–run and short–run income elasticities are estimated using state–level gross casino revenue and state, regional and national income. We run separate time–series regressions for each of 11 states with significant commercial gambling. Gross casino revenue generally grows faster than taxable sales, but slower than taxable income. Gross casino revenue growth also slows as the industry matures. Short–run elasticity is, on average, lower than estimates for sales and income taxes, with an equal or more rapid adjustment to long–run equilibrium.
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Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 61 (2008)
Issue (Month): 4 (December)
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- Reed, W. Robert & Rogers, Cynthia L & Skidmore, Mark, 2011. "On Estimating Marginal Tax Rates For U.S. States," National Tax Journal, National Tax Association, National Tax Association, vol. 64(1), pages 59-84, March.
- Fricke, Hans & Süssmuth, Bernd, 2014. "Growth and Volatility of Tax Revenues in Latin America," World Development, Elsevier, Elsevier, vol. 54(C), pages 114-138.
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