A three-period overlapping-generations model is developed to investigate the impact on human capital investment … probability of premature death leads to less investment in human capital, and consequently slower growth. We also empirically …

Description This half semester class presents an introduction to macroeconomic modeling, focusing on the theory of economic growth …

Unlike the prediction of a frictionless open economy model, long-term average savings and investment rates are highly … that the calibrated model with both frictions produces a savings–investment correlation and a volume of capital flows close …

Theory and evidence on government taxation policy. Topics include tax incidence; optimal tax theory; the effect of … taxation on labor supply and savings; corrective taxes for externalities; taxation and corporate behavior; and tax expenditure … taxation. It covers both theoretical contributions, such as the theory of optimal income and commodity taxation, as well as …