VICTOR A. CANTO is President of A.B. Laffer, V.A. Canto & Associates. A former professor at both the University of California at Los Angeles and the University of Southern California, he has written numerous articles in the areas of international economics, public finance and macroeconomics. His articles have appeared in many leading economic journals and financial publications. Dr. Canto has authored, edited, or co-edited a number of books including Monetary Policy, Taxation, and International Investment Strategy (Quorum Books) and Supply-Side Portfolio Strategies (Quorum Books), both co-edited with Arthur B. Laffer.ARTHUR B. LAFFER is Chairman of A.B. Laffer, V.A. Canto & Associates. Well known for formulating the Laffer Curve--the proposition that increases in tax rates beyond a certain point are counterproductive--he has served as a member of President Reagan's Economic Policy Advisory Board, a consultant to the Secretaries of Treasury and Defense during the Nixon and Ford Administrations and as Chief Economist at the Executive Office of the President, Office of Management and Budget during the Nixon Administration. In addition, he as held chaired professorships at Pepperdine University and the University of Southern California and taught at the University of Chicago.ROBERT I. WEBB is an Associate Professor of Commerce at the McIntire School of Commerce of the University of Virginia. He has published articles in such journals as the Journal of Econometrics, the Journal of Business and Economic Statistic, the Southern Economic Journal and the Journal of Futures Markets. A former trader for the World Bank and member of the Chicago Mercantile Exchange, he has also served as Senior Financial Economist at the Chicago Mercantile Exchange, the Executive Office of the President, Office of Management and Budget, and the Commodity Futures Trading Commission.

• Economic Activity and State Economic Policy The Effect of State Fiscal Policy on the State Competitive Environment by Victor A. Canto and Robert I. Webb Practical Application of the State Competitive Environment by Victor A. Canto State Economic Environment Business Starts and Business Failures by Victor A. Canto and John E. Silvia Investment Implications: Asset Prices and State Economic Policy Either California's Housing Prices are Going to Fall or California's in for One Helluva Rise in Personal Income by Arthur B. Laffer The State Competitive Environment: An Ebb Tide Lowers All Boats by Victor A. Canto The Determinants and Consequences of State General Obligation by Victor A. Canto, Christopher Charles, and Arthur B. Laffer Portfolio Strategy Based on Size, Location, and Industry by Victor A. Canto, Arthur B. Laffer, and Robert I. Webb The Political Dimensions of State Economic Policy Reapportionment and State Economic Policy by Victor A.Canto and Robert I. Webb The Jarvis-Gann Tax Cut Proposal: An Application of the Laffer Curve by Charles W. Kadlec and Arthur B. Laffer Is the California Tax Revolt Over? An Analysis of California Proposition 111 by Arthur B. Laffer A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Prospective: A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Index

VICTOR A. CANTO is President of A.B. Laffer, V.A. Canto & Associates. A former professor at both the University of California at Los Angeles and the University of Southern California, he has written numerous articles in the areas of international economics, public finance and macroeconomics. His articles have appeared in many leading economic journals and financial publications. Dr. Canto has authored, edited, or co-edited a number of books including Monetary Policy, Taxation, and International Investment Strategy (Quorum Books) and Supply-Side Portfolio Strategies (Quorum Books), both co-edited with Arthur B. Laffer.ARTHUR B. LAFFER is Chairman of A.B. Laffer, V.A. Canto & Associates. Well known for formulating the Laffer Curve--the proposition that increases in tax rates beyond a certain point are counterproductive--he has served as a member of President Reagan's Economic Policy Advisory Board, a consultant to the Secretaries of Treasury and Defense during the Nixon and Ford Administrations and as Chief Economist at the Executive Office of the President, Office of Management and Budget during the Nixon Administration. In addition, he as held chaired professorships at Pepperdine University and the University of Southern California and taught at the University of Chicago.ROBERT I. WEBB is an Associate Professor of Commerce at the McIntire School of Commerce of the University of Virginia. He has published articles in such journals as the Journal of Econometrics, the Journal of Business and Economic Statistic, the Southern Economic Journal and the Journal of Futures Markets. A former trader for the World Bank and member of the Chicago Mercantile Exchange, he has also served as Senior Financial Economist at the Chicago Mercantile Exchange, the Executive Office of the President, Office of Management and Budget, and the Commodity Futures Trading Commission.

• Economic Activity and State Economic Policy The Effect of State Fiscal Policy on the State Competitive Environment by Victor A. Canto and Robert I. Webb Practical Application of the State Competitive Environment by Victor A. Canto State Economic Environment Business Starts and Business Failures by Victor A. Canto and John E. Silvia Investment Implications: Asset Prices and State Economic Policy Either California's Housing Prices are Going to Fall or California's in for One Helluva Rise in Personal Income by Arthur B. Laffer The State Competitive Environment: An Ebb Tide Lowers All Boats by Victor A. Canto The Determinants and Consequences of State General Obligation by Victor A. Canto, Christopher Charles, and Arthur B. Laffer Portfolio Strategy Based on Size, Location, and Industry by Victor A. Canto, Arthur B. Laffer, and Robert I. Webb The Political Dimensions of State Economic Policy Reapportionment and State Economic Policy by Victor A.Canto and Robert I. Webb The Jarvis-Gann Tax Cut Proposal: An Application of the Laffer Curve by Charles W. Kadlec and Arthur B. Laffer Is the California Tax Revolt Over? An Analysis of California Proposition 111 by Arthur B. Laffer A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Prospective: A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Index

VICTOR A. CANTO is President of A.B. Laffer, V.A. Canto & Associates. A former professor at both the University of California at Los Angeles and the University of Southern California, he has written numerous articles in the areas of international economics, public finance and macroeconomics. His articles have appeared in many leading economic journals and financial publications. Dr. Canto has authored, edited, or co-edited a number of books including Monetary Policy, Taxation, and International Investment Strategy (Quorum Books) and Supply-Side Portfolio Strategies (Quorum Books), both co-edited with Arthur B. Laffer.ARTHUR B. LAFFER is Chairman of A.B. Laffer, V.A. Canto & Associates. Well known for formulating the Laffer Curve--the proposition that increases in tax rates beyond a certain point are counterproductive--he has served as a member of President Reagan's Economic Policy Advisory Board, a consultant to the Secretaries of Treasury and Defense during the Nixon and Ford Administrations and as Chief Economist at the Executive Office of the President, Office of Management and Budget during the Nixon Administration. In addition, he as held chaired professorships at Pepperdine University and the University of Southern California and taught at the University of Chicago.ROBERT I. WEBB is an Associate Professor of Commerce at the McIntire School of Commerce of the University of Virginia. He has published articles in such journals as the Journal of Econometrics, the Journal of Business and Economic Statistic, the Southern Economic Journal and the Journal of Futures Markets. A former trader for the World Bank and member of the Chicago Mercantile Exchange, he has also served as Senior Financial Economist at the Chicago Mercantile Exchange, the Executive Office of the President, Office of Management and Budget, and the Commodity Futures Trading Commission.

• Economic Activity and State Economic Policy The Effect of State Fiscal Policy on the State Competitive Environment by Victor A. Canto and Robert I. Webb Practical Application of the State Competitive Environment by Victor A. Canto State Economic Environment Business Starts and Business Failures by Victor A. Canto and John E. Silvia Investment Implications: Asset Prices and State Economic Policy Either California's Housing Prices are Going to Fall or California's in for One Helluva Rise in Personal Income by Arthur B. Laffer The State Competitive Environment: An Ebb Tide Lowers All Boats by Victor A. Canto The Determinants and Consequences of State General Obligation by Victor A. Canto, Christopher Charles, and Arthur B. Laffer Portfolio Strategy Based on Size, Location, and Industry by Victor A. Canto, Arthur B. Laffer, and Robert I. Webb The Political Dimensions of State Economic Policy Reapportionment and State Economic Policy by Victor A.Canto and Robert I. Webb The Jarvis-Gann Tax Cut Proposal: An Application of the Laffer Curve by Charles W. Kadlec and Arthur B. Laffer Is the California Tax Revolt Over? An Analysis of California Proposition 111 by Arthur B. Laffer A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Prospective: A Proposal for a California Complete Flat Tax by Victor A. Canto and Arthur B. Laffer Index