Academic Articles
Research, theoretical and empirical, is the basis for understanding our personal, national, and international economies.
The U.S. Fiscal Gap, 2022
The Fast Track to Global Carbon Taxation
How Much Lifetime Social Security Benefits Are Americans Leaving on the Table?
The Future of Global Economic Power
Global Issues, Historical
"Does Prediction Machines" Predict Our AI Future? A Review
Studying Generational Risk in a Large-Scale Life-Cycle Model
Is our fiscal system discouraging marriage? A new look at the marriage tax
Intergenerational Accounting
U.S. Inequality and Fiscal Progressivity
Can today's and tomorrow's world uniformly gain from carbon taxation?
Simulating Endogenous Global Automation
Banking Crisis
Banks As Potentially Crooked Secret-Keepers
When Interest Rates Go Low, Should Public Debt Go High?
Are Deficits Free? (Previous title: Deficit Follies)
Pareto-Improving Carbon-Risk Taxation
Georgians' Stake in President-Elect Biden's Tax and Social Security Reforms
Healthcare
“Better Care Plan”: A Public Option Choice
Simulating Cash Flow Benefit Taxation
Marginal Net Taxation of Americans’ Labor Supply
Leaping the Divide -- Sharing the Cost of Carbon Mitigation with Our Children
Leveraging Posterity's Prosperity
Spreadsheet to Calculate U.S. Net National Saving and Domestic Investment Rates plus Real Return on National Wealth
The Big Con -- Reassessing the "Great" Recession and Its "Fix"
US Economy
Robots Are Us: Some Economics of Human Replacement (revision)
Financial Planning
The Fiscal Analyzer Online Documentation
Global Issues
Making Carbon Taxation a Generational Win Win
Taxes
Did the 2017 Tax Reform Discriminate against Blue State Voters?
Taxes
Simulating U.S. Business Cash Flow Taxation in a 17-Region Global Model
Banking Crisis
The Big Con -- Reassessing the "Great" Recession and Its "Fix"
Valuing Government Obligations When Markets Are Incomplete
Taxes
The New Tax Bill -- Winners and Losers
Intergenerational Accounting
Generational Risk – Is It a Big Deal?: Simulating an 80-Period OLG Model with Aggregate Shocks
Taxes
U.S. Tax Reform and Labor Supply Incentives of the Elderly
Taxes
Assessing the House Republican Tax Reform Plan
US Economy
Will the Paris Accord Accelerate Climate Change
Taxes
Is Uncle Sam Inducing the Elderly to Retire?
Life Cycle Investing
Rethinking Portfolio Analysis
Intergenerational Accounting
The Fiscal Gap -- An Estimate for Russia
Global Issues
Russia's Challenging Economic Transistion
Intergenerational Accounting
America’s Fiscal Insolvency and Its Generational Consequences
US Economy
Simulating the Elimination of the U.S. Corporate Income Tax
Global Issues
The World’s Interconnected Demographic and Fiscal Transition
Global Issues
Russia's Fiscal Gap
Global Issues
Why Aren't Developed Countries Saving?
Intergenerational Accounting, Life Cycle Investing
Smart Machines and Long-Term Misery
Banking Crisis, US Economy
Limited-Purpose Banking -- Moving from "Trust Me" to "Show Me" Banking
Uncategorized
Game Over: Simulating Unsustainable Fiscal Policy
Uncategorized
Generational Policy and Aging in Closed and Open Dynamic General Equilibrium Models
Taxes
What Does the Corporate Income Tax Tax? A Simple Model Without Capital
US Economy
Marketing Social Security’s Open Group Liability to Market
Global Issues
Who’s going broke? Comparing growth in Public Healthcare in ten OECD countries
Global Issues, Intergenerational Accounting
The Intergenerational Conflict – Après le Deluge
Limited Purpose Banking, US Economy
Back to Basics
Biosimilars
Biosimilars, Data Exclusivity, and the Incentives for Innovation: Response to Grabowski
Global Issues
Fixing Healthcare Before It Fixes Us
Banking Crisis, Limited Purpose Banking
Interview on Limited Purpose Banking
Limited Purpose Banking
Limited Purpose Banking
Global Issues
Dynamic Globalization and Its Potentially Alarming Prospects for Low-Wage Workers
Banking Crisis
Economic War Calls for Full Plan of Battle
US Economy
Recapitalizing the Banks is not Enough
Social Security
The True Cost of Social Security
Financial Planning, Life Cycle Investing
Economics’ Approach to Financial Planning
Global Issues
Fertility, Mortality and the Developed World’s Demographic Transition
Taxes
The FairTax and Middle Americans
Fair Tax
Why the Fair Tax Will Work – Bartlett’s Unfair Attack on the FairTax
Financial Planning
To Roth or Not-- That is the Question
Taxes
Does It Pay, at the Margin, to Work and Save? Measuring Effective Marginal Taxes on Americans' Labor Supply and Saving
Deficit, Taxes
On the General Relativity of Fiscal Language
Financial Planning, Life Cycle Investing
Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds
Life Cycle Investing
Pension Reform as the Triumph of Form over Substance
Fair Tax
Simulating the Dynamic Macroeconomic Effects of the Fair Tax
Taxes
Simulating the Dynamic Macroeconomic and Microeconomic Effects of the Fairtax
US Economy
Averting America's Bankruptcy with a New New Deal
US Economy
Is the US Bankrupt?
Global Issues
Will China Eat Our Lunch or Take Us to Dinner?
US Economy
The Excess Burden of Government Indecision
US Economy
Mitigating America's Demographic Dilemma by Pre-funding Social Security
Fair Tax
Taxing Sales Under the FairTax: What Rate Works?
Social Security
Americans' Dependency on Social Security
Financial Planning, Life Insurance
Saving and Life Insurance Holdings at Boston University
Financial Planning
Big Ideas: Pay Now or Pay Later
Financial Planning, Life Cycle Investing, Life Insurance
Is Conventional Financial Planning Good for Your Financial Health?
Intergenerational Accounting
Paul Samuleson's Amazing Intergenerational Transfer
Taxes
Comparing Average and Marginal Tax Rates under the FairTax and the Current System of Federal Taxation
Taxes
Grading the President’s Tax Reform Panel’s Plan
Deficit, US Economy
Deficit Delusion
Global Issues
The Role of Immigration in Dealing with the Developed World's Demographic Transition
Life Insurance
Are Life Insurance Holdings Related to Financial Vulnerabilities?
Financial Planning
Who Gets Paid to Save?
Life Insurance
The Mismatch Between Life Insurance Holdings and Financial Vulnerabilties
Telecommunications, US Economy
Natural Monopoly and the Definition of “Impairment
Telecommunications, US Economy
On the Broadband Mess
Life Cycle Investing
Does It Pay to Work?
US Economy
Intertemporal State Budgeting
Life Insurance
The Adequacy of Life Insurance
Intergenerational Accounting
Simulating the Transmission of Wealth Inequality
Taxes
Does Saving in a 401(k) Raise Your Lifetime Taxes?
Generational Policy
Life Cycle Investing
Can People Compute? An Experimental Test of the Life Cycle Consumption Model
Financial Planning
Comparing the Economic and Conventional Approaches to Financial Planning
Taxes
Simulating Fundamental Tax Reform in the U.S.
Intergenerational Accounting
Simulating the Transmission of Wealth Inequality via Bequests
Global Issues
Generational Accounting in the UK
Intergenerational Accounting
The Baby Boomers' Mega-Inheritance--Myth or Reality?
Financial Planning
How Much Should Americans Be Saving for Retirement?
Uncategorized
The Degeneration of the EMU
Intergenerational Accounting, Social Security
Distributional Effects in a General Equilibrium Analysis of Social Security
Social Security
Social Security's Treatment of Postwar Americans -- How Bad Can it Get
Social Security
Privatizing Social Security in the US: Comparing the Options
Global Issues
Generational Accounting Around the Globe
Social Security
Privatizing Social Security the Right Way
Social Security
Social Security: Privatization and Progressivity
Intergenerational Accounting, Social Security
The Personal Security System: A Framework for Reforming Social Security
Taxes
Assessing Fundamental Tax Reform
Intergenerational Accounting
Parental Altruism and Inter Vivos Transfers: Theory and Evidence
Intergenerational Accounting
Reply to Diamond's and Cutler's Reviews of Generational Accounting
Intergenerational Accounting
Generational Accounting in New Zealand: Is There Generational Balance?
Intergenerational Accounting
Risk-Sharing Between and Within Families
Intergenerational Accounting
Restoring Generational Balance in Canada
Uncategorized
Understanding the Postwar Decline in U.S. Savings: a Cohort Analysis
Intergenerational Accounting
Generational Accounting in General Equilibrium
Social Security
Privatizing Social Security: How It Works and Why It Matters
Taxes
Corporate Taxation and the Efficiency Gains of the 1986 Tax Reform Act
Intergenerational Accounting
Restoring Generational Balance to US Fiscal Policy: What Will It Take?
Uncategorized
The 1995 Budget and Health Care Reform: A Generational Perspective
Intergenerational Accounting
Generational Accounting: A Meaningful Way to Assess Generational Policy
Intergenerational Accounting
Passing the Generational Buck
Financial Planning
A Critical Review of Social Insurance Analysis by Multilateral Lending Institutions
Intergenerational Accounting
Intergenerational Altruism and the Effectiveness of Fiscal Policy: New Tests Based on Cohort Data
Uncategorized
Corporate Tax Incidence and Inefficiency when Corporate and Noncorporate Goods are Close Substitutes
Intergenerational Accounting
Some Inefficiency Implications of Generational Politics and Exchange
Intergenerational Accounting, Taxes
Generational Accounts and Lifetime Tax Rates, 1900-1991
Deficit
From Deficit Delusion to the Fiscal Balance Rule - Looking for a Sensible Way to Measure Fiscal Policy
Uncategorized
Is the Extended Family Altruistically Linked?
Uncategorized
Estimating a Firm's Age-Productivity Profile using the Present Value of Workers' Earnings
Life Cycle Investing
Estimating the Age-Productivity Profile Using Lifetime Earnings
Intergenerational Accounting
Generational Accounting - A New Approach to Understanding the Effects of Fiscal Policy on Saving
Intergenerational Accounting, Social Security
Social Security and Medicare Policy from the Perspective of Generational Accounting
US Economy
US Demographics and Saving: Predictions of Three Saving Models
Deficit, Intergenerational Accounting
Generational Accounts: A Meaningful Alternative to Deficit Accounting
Taxes
How Regional Differences in Taxes and Public Goods Distort Life
Life Insurance
The Adequacy of Life Insurance Purchases
Uncategorized
A Strategic Altruism Model in Which Ricardian Equivalence Does Not Hold
Uncategorized
The Crisis in US Saving and Proposals to Address the Crisis
US Economy
Demographics, Fiscal Policy, and US Saving in the 1980's and Beyond
Taxes
The Incidence and Efficiency Costs of Corporate Taxation when Corporate and NonCorporate Firms Produce the Same Goods
Deficit
Deficit Thinking
Social Security
On the Contribution of Economics to the Evaluation and Formation of Social Insurance Policy
Global Issues
The Economics of Aging Populations: The Case of Four OECD Economies
Taxes
Making Bequests Without Spoiling Children: Bequests as an Implicit Optimal Tax Structure and the Possibility that Altruistic Bequests are not Equalizing
Uncategorized
Social Contracts as Assets: A Possible Solution to the Time Consistency Problem
Uncategorized
What Micro Economics Teaches Us About the Dynamic Macro Effects of Fiscal Policy
Deficit
The Deficit is not a Well-Defined Measure of Fiscal Policy
US Economy
Consumption, Computation Mistakes, and Fiscal Policy
Taxes
The Case for the Value-Added Tax
Intergenerational Accounting
Intergenerational Transfers and Savings
US Economy
Looking for the News in the Noise
Taxes
Pension Backloading, Wage Taxes, and Work Disincentives
US Economy
Evaluating Fiscal Policy with a Dynamic Simulation Model
Social Security
Justifying Public Provision of Social Security
Intergenerational Accounting, Social Security
Social Security: A Financial Analysis Within and Across Generations
Uncategorized
Dynamic Fiscal Policy
Taxes
Tax Incidence
Intergenerational Accounting
The A-K OLG Model: Its Past, Present, and Future
Deficit
Is Debt Neutral In the Life Cycle Model?
Life Insurance
The Effect of Annuity Insurance on Savings and Equality
Deficit
Public Debt and U.S. Saving: A New Test of the Neutrality Hypothesis
Social Security
Simulating Alternative Social Security Responses to the Demographic Transistion
Deficit
Economic Impact of Deficit Financing
Taxes
Taxation and Savings: A Neoclassical Perspective
US Economy
National Savings and Economic Policy: The Efficacy of Investment versus Savings Incentives
Social Security
An Examination of Empirical Tests of Social Security and Savings
Deficit
Investment Incentives Savings Versus: The Size of the Bang for the Buck and the Potential
Taxes
National Savings, Economic Welfare, and the Structure of Taxation
Taxes
The Efficiency Gains from Dynamic Tax Reform
Life Cycle Investing
The Adequacy of Savings
Intergenerational Accounting
The Role of Intergeneration Transfers in Aggregate Capital Accumulation
Intergenerational Accounting
The Family as an Incomplete Annuities Market
Historical
The Manumission of Slaves in New Orleans, 1827-1846
Life Cycle Investing, Taxes
Tax Incidence in a Life Cycle Model with Variable Labor Supply
Social Security
Social Secuity and Equilibrium Capital Intensity
Historical
The Structure of Slave Prices in New Orleans
Taxes
Comment: The Incidence of a Tax on Pure Rent: A New Reason for an Old Answer
Social Security
Testing the Theory of Social Security and Life Cycle Accumulation
Social Security
Social Security, Time for Reform
Historical