Showing 61 - 70 of 23,806
This paper presents a new simulation methodology for determining the pure efficiency gains from tax reform along the general. equilibrium rational expectations growth path of life cycle economies. The principal findings concern the effects of switching from a proportional income tax with rates...
Persistent link: https://www.econbiz.de/10005774790
This paper compares two general methods of privatization social security: forced participation in the new privatized system vs. letting people choose between the new system or staying in social security (i.e., opting out). Simulations are performed using a large scale perfect-foresight OLG...
Persistent link: https://www.econbiz.de/10005774931
Using the 1995 Survey of Consumer Finances and an elaborate life-cycle model, we quantify the potential financial impact of each individual's death on his or her survivors, and we measure the degree to which life insurance moderates these consequences. Life insurance is essentially uncorrelated...
Persistent link: https://www.econbiz.de/10005774976
In recent years Robert Barro's (1974) ingenious model of inter- generational altruism has taken its place among the major theories of consumption and saving. Despite its policy importance, there have been few direct tests of the Barro model. This paper presents a new direct test that is based on...
Persistent link: https://www.econbiz.de/10005775018
Governments are known for procrastinating when it comes to resolving painful policy problems. Whatever the political motives for waiting to decide, procrastination distorts economic decisions relative to what would arise with early policy resolution. In so doing, it engenders excess burden. This...
Persistent link: https://www.econbiz.de/10005775168
An important deficiency in Harberger's (1962) model of corporate income taxation is its inability to consider both corporate and noncorporate production of the same good. This precludes analysis of within-industry substitution of noncorporate for corporate production in response to the tax. Such...
Persistent link: https://www.econbiz.de/10005775213
This paper determines the standard of living reductions that young, middle aged, and older households would experience were the U.S. government to cut Social Security benefits (but not taxes) to deal with its well documented (see Gokhale and Smetters, 2005) long-term fiscal crisis. To determine...
Persistent link: https://www.econbiz.de/10005775238
Locational choice is one of the fundamental exercises of consumer sovereignty. When regions (or localities within regions) specify different tax rates or supply different amounts of public goods, they distort individuals' location choices. This paper models and measures for the U.S. and New...
Persistent link: https://www.econbiz.de/10005777391
A new empirical study of the relation between money, nominal income, prices, and real output in postwar quarterly U.S. data rejects virtually all of the conclusions reached by Families provide individuals with risk sharing opportunities which may not otherwise be available. Within the family...
Persistent link: https://www.econbiz.de/10005777416
This paper summarizes findings reported in a forthcoming NBER volume entitled 'Generational Accounting Around the World.' This volume includes generational accounting studies for 17 countries. The findings are shocking. The world's leading industrial powers - the U.S., Japan, and Germany - all...
Persistent link: https://www.econbiz.de/10005777468