This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy. This approach has provided an intellectual impetus for reforms of capital income taxation in the United States and around the world. The cost of capital and the marginal...

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration...

The American economy has experienced renewed growth since 1995, with this surge rooted in the development and deployment of information technology (IT). This book traces the American growth resurgence to its sources within individual industries, documents the critical role of IT, and shows how...

These studies of the cost of capital will inspire and guide policy-makers who share the goal of making the allocation of capital in a market economy more efficient. Volume 2 is devoted to the cost of capital approach to tax policy. This approach has supplied an important intellectual impetus for...

The objectives of econometric modeling of producer behavior are to determine the nature of substitution among inputs and outputs and of differences in technology, as well as the role of economies of scale in production. Recent advances in methodology, based on the dual formulation of the theory...

These studies of the cost of capital will inspire and guide policy-makers who share the goal of making the allocation of capital in a market economy more efficient. Volume 1 presents pioneering studies of the cost of capital as a determinant of investment expenditures. The cost of capital...

This volume presents an approach to the evaluation of economic policies through the econometric modeling of aggregate consumer behavior. While the preferences of individual consumers are revealed by their market choices, these preferences can be recovered only by econometric methods, not through...

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration...

These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most...

This volume presents a new approach to econometric modeling of aggregate consumer behavior. The approach has successfully extricated demand modeling from the highly restrictive framework provided for more than half a century by the model of a representative consumer. Like the representative...