[...]These political considerations may seem tangential to thesubject of price hedonics, but the events following fromGreenspan’s remark have linked the two issues. First, theSenate Finance Committee consulted a panel of experts, andthat panel reached a consensus supporting...

[...]The final force of change is the continual evolution of thedelivery channels through which financial services are offered.This has occurred in many ways and in several stages. First, theuse of postal services substituted for physical market presence;this was followed by increased use of...

We consider a general equilibrium model with frictions in credit markets used by households. Inour economy, houses provide housing services to consumers and serve as collateral to lower borrowingcost.We show that this amplifies and propagates the effect of monetary policy shocks on...

In this paper we apply conjoint analysis to study the influence of changes in thetax rate and the tax base on the perceived tax burden. Our results show that themajority of individuals do not make rational tax decisions based on the actual taxburden, but rather use simple decision heuristics....

For mitigating the problems of transfer pricing formula apportionment (FA) is discussedintensively. However, FA could even be more harmful than transfer pricing because incomeshifting would require changing economic decisions instead of just taking advantage ofaccounting options. We analyze the...

In recent weeks several Iowa policymakers, leaders, and citizens have become interested in proposals involving significant policy reforms and tax increment financing. Much of the discussion is based on the results of a single study based on aggregate approaches that were never designed for the...