This paper develops a Social Security simulation model. Combining data from the 1975 Social Security Exact Match File, which merges individual records from the1975 Current Population Survey with OASI earnings and benefit records, with a model of income growth, retirement and labor force...

This paper examines the appropriate tax treatment of the family in a series of analytical models and numerical examples. For a population of taxpaying couples which differ in earning capacity, we derive the optimal tax rates for each potential earner. These rates depend crucially upon own and...

Government capital formation raises a number of issues important to national economic well-being, yet the U.S., unlike most advanced countries, does not account for capital in its formal budget documents. We estimate depreciation of government capital using a methodology developed by Hulten and...

We calculate a time series of the value of federal mineral rights in oil and natural gas by using various estimates of proven and unproven reserves and time series on federal government royalties and bonus payments. We also present estimates of the components of the revaluation of this series...

One of the most striking features of the postwar U.S. economy has been the rapid decrease in the labor force participation of the elderly at a time when the health of this group has been improving. In spite of this, previous research, based on retrospective interviews with the retired...

An inter-country aggregate production function is estimated using annual data for the post-war period drawn from the Group-of-Five (G-5) countries: France, West Germany, Japan, United Kingdom and United states. It is assumed that all countries have the same underlying production function, not in...

A new empirical analysis of aggregate United States consumption and saving for the period 1947-80 is presented. The model is based on the theory of exact aggregation. It recognizes explicitly that households with different characteristics may be heterogeneous in their behavior and that aggregate...

This paper extends the analysis of aggregate factor supply to a model which accounts simultaneously for the consumption/saving and labor/leisure choices. A translog utility maximization model is used to derive the set of consumption and leisure demand equations; these in turn are estimated on...

Section 1 presents a preliminary attempt at clarifying the ways in which taxes affect human capital accumulation. Section 2 outlines a simple general equilibrium model with two capital goods - physical and human â€" and the saving corresponding to each, to begin to deal with these issues....

This paper presents new evidence on cost-of-living indices and annual inflation rates for the elderly population as well as the general population. It employs a now fairly widely accepted adjustment for the inappropriate treatment of housing in the Consumer Price Index. We disaggregate by...