Simulating U.S. tax reform
A presentation of a large-scale, dynamic simulation model for comparing the equity, efficiency, and macroeconomic effects of five alternatives to the current U.S. federal income tax: a proportional income tax, a proportional consumption tax, a flat tax, a flat tax with transition relief, and a progressive variant of the flat tax called the "X tax."
Solutions for developed economies
Activist fiscal policy to stabilize economic activity
Tax policy and corporate borrowing
The case for open-market purchases in a liquidity trap
Generational accounting in Norway: is the nation overconsuming its petroleum wealth?
An examination of the generational imbalance in current Norwegian fiscal policy, showing that despite the government's net wealth, future Norwegians could be facing lifetime net tax burdens twice as large as those confronting today's children.
Assessing the impact of income tax, social security tax, and health care spending on U.S. saving rates
An assessment of the effects of proposed reductions in income and Social Security taxes on middle-income Americans and of cuts in health care spending, using the generational accounting method to examine their likely impact on both current and future national saving rates.
Generational accounting: a new approach for understanding the effects of fiscal policy on saving
An application of generational accounting to fiscal policies that feature intergenerational redistribution. The authors consider different policies, only some of which show up as a change in the deficit, and explore their impact on the net national saving rate.
Generational accounts: a new approach to fiscal policy evaluation
A discussion of why budget deficits are inadequate measures of the long-run effect of fiscal policy on intergenerational redistributi- on, and an assertion that policy evaluation would be better served by looking at generational accounts.
Generational accounts: a meaningful alternative to deficit accounting
A presentation of a set of generational accounts that can be used as an alternative to the federal budget deficit in assessing intergenerational policy, concluding that the fiscal burdens on future generations will be significantly larger than those on existing generations if current tax policy remains unchanged.