Is a consumption tax equivalent to a wage tax? This article examines this question in a two-period life-cycle model with Cobb-Douglas production and utility functcons. Three taxes are compared: income, wage, and consumption. The article shows how equivalence depends crucially on government debt...

This article presents an alternative approach to the welfare economics of taxes, and to the choice between an income, wage, and consumption tax. In contrast to standard efficiency analysis of taxes, and to much of the optimal growth literature, the central focus is on the welfare of different...

One criterion for evaluating a nation's military structure is its impact on crisis stability. This article presents a model to capture the process of interacting expectations that determines whether initial suspicions are sufficient to cause one or both nations to strike rather than wait during...

Hoffman and Seidman offer a complete assessment of the EITC in which they analyze, evaluate, summarize, and critique the state of the program. The authors find that, overall, the EITC works well, and that it has earned its political popularity. Yet they also uncover several problem areas that...

The authors begin with a detailed assessment then perform empirical analyses to predict the outcomes of changes to the structure of the program.