The current expansion has seen record-high levels of transactions in housing, extraordinary growth in the aggregate value of owner-occupied housing, and large increases in the amount of funds realized from the refinancing of mortgage debt. Many analysts thus have pointed to the strong housing...

We reevaluate Young and Varner’s (YV) study of the effect of New Jersey’s 2004 income tax increase on migration. The 2004 “millionaires’ tax†raised New Jersey’s marginal income tax rate from 6.37 percent to 8.97 percent on incomes over US$500,000. YV...

This paper examines the comprehensive IRS data set of state-state migration flows for evidence that differences in state income tax rates are associated with migration patterns. Using annual data on moves between every pair of states, pooled time-series cross-section regressions indicate that in...

Economists, business analysts, and policymakers have all focused considerable attention on U.S. productivity growth in recent years. This paper presents a broad overview of productivity--both labor and total factor--and discusses why it is such an important topic. We begin with the official U.S....

The current expansion has seen record-high levels of transactions in housing, extraordinary growth in the aggregate value of owner-occupied housing, and large increases in the amount of funds realized from the refinancing of mortgage debt. Many analysts thus have pointed to the strong housing...

The treatment of owner-occupied housing in the Consumer Price Index has long been a subject of confusion and consternation. Thus, a session to explore the issues was organized at the National Association for Business Economics Annual Meeting in Chicago on September 26, 2005.Business Economics...