This article considers the relative efficiency of marginally redistributing income from high- to low-income households. Additional spending on a negative income tax is compared with spending on an earnings or a wage subsidy. One set of reforms imposes the same burden on the nonpoor, and another...

We develop a perfect foresight, overlapping generations model with intragenerational inequality and endogenous human and physical capital investment, and we calculate welfare costs for marginal reforms of taxation and public spending. Welfare costs are uniformly lower than in the equivalent...

Lectures have long been the dominant pedagogical approach in undergraduate economics courses but they are certainly no longer the exclusive approach. Much of the recent soul-searching in the discipline, dealing with the desirable characteristics of economics programs and their graduates, has...