The Disappearing Corporate Income Tax
In my testimony today I will make four points: 1. Corporate tax collections are very low both in historical perspective and compared with other countries.
Research
The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time
In 2008, the world’s financial system stood on the brink of disaster. The United States faced an unprecedented crisis when the investment bank Lehman Brothers collapsed, setting off a global panic.
Reopening the Coronavirus-Closed Economy
The Federal Reserve’s current monetary policy framework combines conventional policy that sets the level of the federal funds rate with policies that operate through the slope of the term structure, i
Automatic Stabilizers in a Low-Rate Environment
With interest rates persistently low or even negative in advanced countries, policymakers have barely any room to ease monetary policy when the next recession hits.
Federal Coal Program Reform, the Clean Power Plan, and the Interaction of Upstream and Downstream Climate Policies
Can supply-side environmental policies that limit the extraction of fossil fuels reduce CO2 emissions?
The Impacts of the U.S.-China Trade War
The trade war has received an enormous amount of attention. Its impacts today have been limited because the U.S. and China have been a bit restrained.
Tax Reform for Progressivity: A Pragmatic Approach
In the coming decades, federal spending will need to grow just to enable the government to continue to provide the services it does today.
Evaluating Regulatory Performance: Learning from and Institutionalizing Retrospective Analysis of EPA Regulations
A well-functioning environmental regulatory program makes the American people better off by protecting the air we breathe, water we drink, and food we eat.
First-Price Auctions with Budget Constraints
Consider a first-price sealed-bid auction with interdependent valuations and private budget constraints.
The Direct Effect of Taxes and Transfers on Changes in the U.S. Income Distribution, 1967–2015
Scholars have increasingly drawn attention to rising levels of income inequality in the United States.
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