This paper analyzes the effects of differential tax treatment of corporate and non-corporate income in the U.S. on capital accumulation, the allocation of resources acros[...]

From 1961 to 2007, U.S. aggregate hours worked increased and the labor wedge-measured as the discrepancy between a representative household's marginal rate of substitutio[...]

Inflation distorts an economy through many channels. This paper highlights the interaction between inflation and capital gains tax and their distortions to a small open e[...]

This paper investigates the importance of entrepreneurship when quantifying the aggregate and distributional effects of switching from a progressive to a proportional inc[...]

From 1980 until 2007, U.S. average hours worked increased by thirteen percent, due to a large increase in female hours. At the same time, the U.S. labor wedge, measured a[...]

This paper describes the positive effect that corporate income tax has on capital formation in the presence of liquidity constraints and uninsurable risk. The author uses[...]

This paper confirms the conjecture that the evaluation of tax policy leads to very different conclusions once the role of entrepreneurs is considered. Contrary to previou[...]