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A Century of Labor-Leisure Distortions
Mulligan, Casey - National Bureau of Economic Research (NBER) - 2002
I construct direct measures of labor-leisure distortions for the American economy during the period 1889-1996, using a new method for empirically evaluating competitive equilibrium models and extending that method to some noncompetitive situations. I then compare measured labor-leisure...
Persistent link: https://www.econbiz.de/10005720449
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Does Federal Financial Aid Affect College Enrollment? Evidence from Drug Offenders and the Higher Education Act of 1998
Lovenheim, Michael F.; Owens, Emily G. - National Bureau of Economic Research (NBER) - 2013
In 2001, amendments to the Higher Education Act made people convicted of drug offenses ineligible for federal financial aid for up to two years after their conviction. Using rich data on educational outcomes and drug charges in the NLSY 1997, we show that this law change had a large negative...
Persistent link: https://www.econbiz.de/10010950693
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Foresight and Information Flows
Leeper, Eric; Walker, Todd B.; Yang, Shu-Chun Susan - National Bureau of Economic Research (NBER) - 2011
News--or foresight--about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading example...
Persistent link: https://www.econbiz.de/10009652882
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Public Consumption Over the Business Cycle
Bachmann, Ruediger; Bai, Jinhui - National Bureau of Economic Research (NBER) - 2011
What fraction of the business cycle volatility of government purchases is accounted for as endogenous reactions to overall macroeconomic conditions? We answer this question in the framework of a neoclassical representative household model where the provision of a public consumption good is...
Persistent link: https://www.econbiz.de/10009223328
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Government Policy and Ownership of Financial Assets
Rydqvist, Kristian; Spizman, Joshua; Strebulaev, Ilya A. - National Bureau of Economic Research (NBER) - 2011
-deferred plans. This finding is important for policy considerations on effective taxation and for financial economics research on the … long-term effects of taxation on corporate finance and asset prices. …
Persistent link: https://www.econbiz.de/10009325539
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Optimal Debt Management
Barro, Robert J. - National Bureau of Economic Research (NBER) - 1995
states of nature becomes important. In some cases, optimal taxation dictates the smoothing of tax rates over states of nature … the government's financing costs from shifts in real interest rates. This paper studies dynamic optimal taxation in an … the one-sector stochastic growth model. The type of taxation that yields the clearest results on tax smoothing is a …
Persistent link: https://www.econbiz.de/10005710655
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Capital, Interest, and Aggregate Intertemporal Substitution
Mulligan, Casey - National Bureau of Economic Research (NBER) - 2002
Financial economics research has suggested that expected returns are not the same across assets, and that their movements over time are not simply described or explained. I argue that this suggestion has implications for the study of substitution over time --namely that 'the' interest rate in...
Persistent link: https://www.econbiz.de/10005718416
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The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks
Romer, Christina Duckworth; Romer, David - National Bureau of Economic Research (NBER) - 2007
This paper investigates the impact of changes in the level of taxation on economic activity. We use the narrative …
Persistent link: https://www.econbiz.de/10005720277
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Capital Tax Incidence: Fisherian Impressions from the Time Series
Mulligan, Casey - National Bureau of Economic Research (NBER) - 2003
. Capital taxation is associated with a wedge between anticipated aggregate consumption growth and capital rental rates … rates are associated with capital taxation, as implied by aggregate time-separable Fisherian consumption theories in which …
Persistent link: https://www.econbiz.de/10005828471
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Tax Base Variability and Procyclical Fiscal Policy
Vegh, Carlos; Talvi, Ernesto - National Bureau of Economic Research (NBER) - 2000
Based on a sample of 56 countries, we find that while fiscal policy in the G-7 countries appears to be broadly consistent with Barro's tax smoothing proposition, in developing countries government spending and taxes are highly procyclical (i.e., government spending rises and taxes fall during...
Persistent link: https://www.econbiz.de/10005829153