evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and …

outcomes and elasticities, including the responses of the labor share and the labor wedge to demand shocks and the elasticity … of output with respect to labor inputs. We also decompose changes in work hours into different margins (hours per worker …, the employment rate, and the labor force) and examine effects on local rental prices, wages, and firm entry. We compare …

newly produced capital differently from old capital. Policies that do make this distinction are denoted investment policies … new capital, investment incentives can generate significant inframarginal redistribution from current holders of wealth to … general equilibrium, perfect foresight, overlapping generations life-cycle model, are:1)Investment incentives, even if …

This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys … of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate … that demographic change may significantly alter the U.S. rate of national saving and current account position over the next …

We study the effects of money (anticipated inflation) on capital formation. Previous papers on this topic adopt reduced …-form approaches, putting money in the utility function or imposing cash in advance, but use otherwise frictionless models. We follow a … literature that is more explicit about the frictions making money essential. This introduces several new elements, including a …

. These include the degree of crowding out of private investment by debt financed increases in government expenditure, the … differential effect on consumption of temporary versus more permanent tax cuts, the announcement effects of future changes in tax …

. There has been less focus on EGTRRA's incentive effects; one of the most important potential behavioral effects is on saving …. To analyze the behavioral effects of the Bush tax cut on saving and other macroeconomic variables, I use the Auerbach … on estimated revenue losses, but that the tax cut's impact on national saving is still negative in the long run …