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Most governments are mandated to maintain their economies at full employment. We propose that the best marker of full … employment is the efficient unemployment rate, u*. We define u* as the unemployment rate that minimizes the nonproductive use of … employment (u < u*) since May 2021 …
Persistent link: https://www.econbiz.de/10013334429
combine the information contained in high-frequency public data sources--including monthly household and employment surveys …, quarterly censuses of employment and wages, and monthly and quarterly national accounts statistics--in a unified framework. This …
Persistent link: https://www.econbiz.de/10013334446
The dismal decade of 2010-19 recorded the slowest productivity growth of any decade in U.S. history, only 1.1 percent per year in the business sector. Yet the pandemic appears to have created a resurgence in productivity growth with a 4.1 percent rate achieved in the four quarters of 2020. This...
Persistent link: https://www.econbiz.de/10013334484
This paper proposes a new framework to study the distribution of taxes and the effects of tax reforms, connecting classical tax incidence analysis to optimal tax theory. To study the distribution of current taxes, labor taxes are assigned to the corresponding workers, capital taxes to the...
Persistent link: https://www.econbiz.de/10014437043
Recent estimates of US top wealth shares obtained by capitalizing income tax returns (Saez and Zucman, 2020; Smith, Zidar and Zwick, 2022) are close in both levels and trends except for the top 0.01% where a large discrepancy remains. We examine this difference and, using public data, quantify three...
Persistent link: https://www.econbiz.de/10013362050