The U.S., according to some measures, has one of the highest marginal effective corporate tax rates (METRs) of any developed country. Yet the tax collects less than 2 percent of GDP. This paper studies the impact of replacing the U.S. corporate tax with a Business Cash Flow Tax (BCFT). Our paper...

The U.S., according to some measures, has one of the highest marginal effective corporate tax rates (METRs) of any developed country. Yet the tax collects less than 2 percent of GDP. This paper studies the impact of replacing the U.S. corporate tax with a Business Cash Flow Tax (BCFT). Our paper...

This paper develops a large-scale, dynamic life-cycle model to simulate Russia's demographic and fiscal transition under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and Japan+ (Japan plus Korea). The model predicts dramatic...

This paper develops a large-scale, dynamic life-cycle model to simulate Russia's demographic and fiscal transition under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and Japan+ (Japan plus Korea). The model predicts dramatic...

This paper discusses recent neoclassical analyses of taxation and savings.Contrary to the popular view that fiscal policy has highly ambiguous impacts on savings, neoclassical models admit a host of policies with clear and potentially quite powerful affects on the accumulation of wealth.The...