This paper searches for a general equilibrium model of optimal growth and endogenous fiscal policy with the aim of explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the period 1960-1996. Our search is conducted in the...

One of our most influential progressive voices tells the story of the hollowing of the American middle class and lays out the choices that we must make now to ensure that the dream of prosperity can live on for generations. - Provided by the publisher.