Alan J Auerbach
Dados Biográficos
| ID | 3605047 |
|---|---|
| NOME | Alan J Auerbach |
| PRENOMES | Alan J |
| SOBRENOME | Auerbach |
| ASSINATURA | AUERBACH A J |
| AFILIAÇÕES | National Bureau of Economic Research |
| VERIFICADO | Não |
| TOTAL DE OBRAS | 21 |
| TOTAL DE CITAÇÕES | 26 |
| TOTAL COMO AUTOR | 21 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 1979 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2025 |
| ÍNDICE H | 3 |
Public Finance Implications of Economic Inequality
This paper considers questions about the implications of rising inequality for the theory and practice of public finance. It begins by addressing fundamental reasons why the distribution of income or wealth on an annual basis before taxes and transfers offers insufficient information: (1) it does not tell us what resources are actually available to households for consumption; and (2) in providing a snapshot of the resources available to individua…
US Inequality and Fiscal Progressivity
This study measures inequality and fiscal progressivity. It differs from prior such analyses by measuring inequality based on remaining lifetime spending rather than particular resources, like wealth and current income, that only partially determine lifetime spending, and by considering inequality and progressivity within generations. To estimate the distribution of remaining lifetime spending, we run the 2016 Federal Reserve Survey of Consumer F…
Measuring the Effects of Corporate Tax Cuts
On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA), the most sweeping revision of US tax law since the Tax Reform Act of 1986. The law introduced many significant changes. However, perhaps none was as important as the changes in the treatment of traditional "C" corporations-those corporations subject to a separate corporate income tax. Beginning in 2018, the federal corporate tax rate fell from 35 percent to 21 p…
Long‐Term Fiscal Sustainability in Advanced Economies
With the Great Recession leaving nearly all advanced economies with substantially higher debt–gross domestic product ratios, this paper re‐evaluates the long‐term fiscal sustainability of these economies based on current estimates of their current‐policy fiscal trajectories. Through measuring fiscal imbalance, we find that for many countries, short‐term fiscal measures such as the debt–gross domestic product ratio and current budget deficits as a…
Taxation and Saving – A Retrospective
Atkinson and Sandmo (1980) evaluated the taxation of saving by embedding the static optimal‐tax framework within the two‐period overlapping‐generations model. Using this model, they collected a series of important results for optimal taxes on labour and capital income under a variety of assumptions regarding the instruments and objectives of the government, in particular the availability of national debt to spread burdens among different generati…
Handbook of Public Economics
Measuring the Output Responses to Fiscal Policy
A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being considerably more effective in recessions than in expansions. Second, we estimate multipliers for more disaggregate spending variables which behave differentl…
Activist Fiscal Policy
During and after the "Great Recession" that began in December 2007 the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the tr…
Long-Term Objectives for Government Debt
This paper considers what fiscal targets the government should use to achieve long-term fiscal objectives. Among its findings are:1. At least three important and possibly conflicting long-term objectives are associated with concerns about debt and deficits: intergenerational equity, economic performance, and fiscal sustainability.2. If governments have incentives not to adhere to fiscal policy targets, then restrictions on fiscal policy actions m…
The Fiscal Burden of Korean Reunification
This paper uses generational accounting to assess the fiscal impacts of Korean reunification. Our findings suggest that early reunification will result in a large increase in the fiscal burden for most current and future generations of South Koreans. The Korean reunification's fiscal impact appears much larger than that of German reunification, due to a wider gap in productivity between the two Koreas and North Korea's much larger share of the un…
The Significance of Federal Taxes as Automatic Stabilizers
Using the TAXSIM model for the period 1962-95, we consider the federal tax system's impact as an automatic stabilizer. Despite the many changes in the tax system, there has been relatively little change in its role as an automatic stabilizer. We estimate that individual federal taxes offset perhaps as much as 8 percent of initial shocks to GDP. We also suggest that the progressive income tax may help to stabilize output via its effect on the supp…
Dynamic Revenue Estimation
This paper considers the question of adopting 'dynamic' revenue estimation methods, which would incorporate the predicted macroeconomic effects of policies. It describes the current revenue estimation process and how these estimates are used in the formation of policy. It then evaluates this process as an exercise in forecasting, considering not only its methodology but also its performance. This evaluation illustrates some of the difficulties th…
Generational Accounting
This paper illustrates the technique of generational accounting, a new way to evaluate fiscal policy that overcomes the inherent ambiguities of traditional deficit accounting. The authors illustrate why there is no 'correct' measure of the deficit and how generational accounting--estimating the fiscal burdens current policy places on different generations--provides a clearer picture of the intergenerational and macroeconomic effects of fiscal pol…
Dynamic Fiscal Policy
Corporate Takeovers
Journal Article Corporate Takeovers: Causes and Consequences Get access Corporate Takeovers: Causes and Consequences. Edited by J. AUERBACH ALAN. (Chicago and London: University of Chicago Press, 1988. Pp. ix + 343. £35.95 hardback. ISBN 0 226 032 n 6.) Geoffrey Whittington Geoffrey Whittington University of Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 398, 1 December 19…
Dynamic Fiscal Policy
Journal Article Dynamic Fiscal Policy Get access Dynamic Fiscal Policy. BY ALAN J. AUERBACH and LAURENCE J. KOTLIKOFF. (Cambridge: Cambridge University Press, 1987. Pp. xv+196. £19.50, US$32.50 hardback. ISBN 0 521 30041 X.) Ian Walker Ian Walker Manchester University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 392, 1 September 1988, Pages 873–874, https://doi.org/10.2307/2233935…
The Tax Reform Act of 1986 and the Cost of Capital
The broad outlines of the recently passed Tax Reform Act of 1986 suggest a shift in the tax burden toward business. Over the five-year period 1987-1991, corporate tax revenues are projected to increase by $120.3 billion with individual tax revenues declining by $121.9 billion. It is natural to conclude that business investment in plant and equipment will be discouraged by this shift. Yet the relationship between tax revenues and investment incent…
Handbook of Public Economics. Vol I
Journal Article Handbook of Public Economics. Vol I Get access Handbook of Public Economics. Vol i. Edited by ALAN J. AUERBACH and MARTIN FELDSTEIN. (Amsterdam & New York: North-Holland, 1985. Pp. xvii + 484. Dfl.500, US$130 (2 volume set).) F. A. Cowell F. A. Cowell The London School of Economics and Political Science Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 384, 1 December 1…
The Index of Leading Indicators
A Note on the Efficient Design of Investment Incentives
In a recent article in this Journal, Robin Boadway has argued that the appropriate requirement for neutrality is that the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal for all projects undertaken at the margin. We have few qualifications about this approach itself; although discounting with the social rate of time preference (STP) may be inappropriate in the current context. H…
Inflation and the Choice of Asset Life
This paper considers the choice of capital durability by competitive firms subject to a corporate income tax. We find that, with a positive rate of inflation, a historic cost depreciation rule biases the choice of asset life toward greater durability and lowers the market valuation of a firm's capital assets. Extending the familiar one-sector monetary growth model to incorporate this behavior, we explore the general equilibrium effects that the f…
Generational Accounting
This paper illustrates the technique of generational accounting, a new way to evaluate fiscal policy that overcomes the inherent ambiguities of traditional deficit accounting. The authors illustrate why there is no 'correct' measure of the deficit and how generational accounting--estimating the fiscal burdens current policy places on different generations--provides a clearer picture of the intergenerational and macroeconomic effects of fiscal pol…
The Significance of Federal Taxes as Automatic Stabilizers
Using the TAXSIM model for the period 1962-95, we consider the federal tax system's impact as an automatic stabilizer. Despite the many changes in the tax system, there has been relatively little change in its role as an automatic stabilizer. We estimate that individual federal taxes offset perhaps as much as 8 percent of initial shocks to GDP. We also suggest that the progressive income tax may help to stabilize output via its effect on the supp…
Dynamic Revenue Estimation
This paper considers the question of adopting 'dynamic' revenue estimation methods, which would incorporate the predicted macroeconomic effects of policies. It describes the current revenue estimation process and how these estimates are used in the formation of policy. It then evaluates this process as an exercise in forecasting, considering not only its methodology but also its performance. This evaluation illustrates some of the difficulties th…
Activist Fiscal Policy
During and after the "Great Recession" that began in December 2007 the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the tr…
Dynamic Fiscal Policy
Journal Article Dynamic Fiscal Policy Get access Dynamic Fiscal Policy. BY ALAN J. AUERBACH and LAURENCE J. KOTLIKOFF. (Cambridge: Cambridge University Press, 1987. Pp. xv+196. £19.50, US$32.50 hardback. ISBN 0 521 30041 X.) Ian Walker Ian Walker Manchester University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 392, 1 September 1988, Pages 873–874, https://doi.org/10.2307/2233935…
Inflation and the Choice of Asset Life
This paper considers the choice of capital durability by competitive firms subject to a corporate income tax. We find that, with a positive rate of inflation, a historic cost depreciation rule biases the choice of asset life toward greater durability and lowers the market valuation of a firm's capital assets. Extending the familiar one-sector monetary growth model to incorporate this behavior, we explore the general equilibrium effects that the f…
Inflation and the Choice of Asset Life
This paper considers the choice of capital durability by competitive firms subject to a corporate income tax. We find that, with a positive rate of inflation, a historic cost depreciation rule biases the choice of asset life toward greater durability and lowers the market valuation of a firm's capital assets. Extending the familiar one-sector monetary growth model to incorporate this behavior, we explore the general equilibrium effects that the f…
A Note on the Efficient Design of Investment Incentives
In a recent article in this Journal, Robin Boadway has argued that the appropriate requirement for neutrality is that the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal for all projects undertaken at the margin. We have few qualifications about this approach itself; although discounting with the social rate of time preference (STP) may be inappropriate in the current context. H…
The Index of Leading Indicators
Handbook of Public Economics. Vol I
Journal Article Handbook of Public Economics. Vol I Get access Handbook of Public Economics. Vol i. Edited by ALAN J. AUERBACH and MARTIN FELDSTEIN. (Amsterdam & New York: North-Holland, 1985. Pp. xvii + 484. Dfl.500, US$130 (2 volume set).) F. A. Cowell F. A. Cowell The London School of Economics and Political Science Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 384, 1 December 1…
The Tax Reform Act of 1986 and the Cost of Capital
The broad outlines of the recently passed Tax Reform Act of 1986 suggest a shift in the tax burden toward business. Over the five-year period 1987-1991, corporate tax revenues are projected to increase by $120.3 billion with individual tax revenues declining by $121.9 billion. It is natural to conclude that business investment in plant and equipment will be discouraged by this shift. Yet the relationship between tax revenues and investment incent…
Dynamic Fiscal Policy
Journal Article Dynamic Fiscal Policy Get access Dynamic Fiscal Policy. BY ALAN J. AUERBACH and LAURENCE J. KOTLIKOFF. (Cambridge: Cambridge University Press, 1987. Pp. xv+196. £19.50, US$32.50 hardback. ISBN 0 521 30041 X.) Ian Walker Ian Walker Manchester University Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 98, Issue 392, 1 September 1988, Pages 873–874, https://doi.org/10.2307/2233935…
Dynamic Fiscal Policy
Corporate Takeovers
Journal Article Corporate Takeovers: Causes and Consequences Get access Corporate Takeovers: Causes and Consequences. Edited by J. AUERBACH ALAN. (Chicago and London: University of Chicago Press, 1988. Pp. ix + 343. £35.95 hardback. ISBN 0 226 032 n 6.) Geoffrey Whittington Geoffrey Whittington University of Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 398, 1 December 19…
Generational Accounting
This paper illustrates the technique of generational accounting, a new way to evaluate fiscal policy that overcomes the inherent ambiguities of traditional deficit accounting. The authors illustrate why there is no 'correct' measure of the deficit and how generational accounting--estimating the fiscal burdens current policy places on different generations--provides a clearer picture of the intergenerational and macroeconomic effects of fiscal pol…
Dynamic Revenue Estimation
This paper considers the question of adopting 'dynamic' revenue estimation methods, which would incorporate the predicted macroeconomic effects of policies. It describes the current revenue estimation process and how these estimates are used in the formation of policy. It then evaluates this process as an exercise in forecasting, considering not only its methodology but also its performance. This evaluation illustrates some of the difficulties th…
The Significance of Federal Taxes as Automatic Stabilizers
Using the TAXSIM model for the period 1962-95, we consider the federal tax system's impact as an automatic stabilizer. Despite the many changes in the tax system, there has been relatively little change in its role as an automatic stabilizer. We estimate that individual federal taxes offset perhaps as much as 8 percent of initial shocks to GDP. We also suggest that the progressive income tax may help to stabilize output via its effect on the supp…
The Fiscal Burden of Korean Reunification
This paper uses generational accounting to assess the fiscal impacts of Korean reunification. Our findings suggest that early reunification will result in a large increase in the fiscal burden for most current and future generations of South Koreans. The Korean reunification's fiscal impact appears much larger than that of German reunification, due to a wider gap in productivity between the two Koreas and North Korea's much larger share of the un…
Long-Term Objectives for Government Debt
This paper considers what fiscal targets the government should use to achieve long-term fiscal objectives. Among its findings are:1. At least three important and possibly conflicting long-term objectives are associated with concerns about debt and deficits: intergenerational equity, economic performance, and fiscal sustainability.2. If governments have incentives not to adhere to fiscal policy targets, then restrictions on fiscal policy actions m…
Activist Fiscal Policy
During and after the "Great Recession" that began in December 2007 the U.S. federal government enacted several rounds of activist fiscal policy. In this paper, we review the recent evolution of thinking and evidence regarding the effectiveness of activist fiscal policy. Although fiscal interventions aimed at stimulating and stabilizing the economy have returned to common use, their efficacy remains controversial. We review the debate about the tr…
Measuring the Output Responses to Fiscal Policy
A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being considerably more effective in recessions than in expansions. Second, we estimate multipliers for more disaggregate spending variables which behave differentl…
Handbook of Public Economics
Taxation and Saving – A Retrospective
Atkinson and Sandmo (1980) evaluated the taxation of saving by embedding the static optimal‐tax framework within the two‐period overlapping‐generations model. Using this model, they collected a series of important results for optimal taxes on labour and capital income under a variety of assumptions regarding the instruments and objectives of the government, in particular the availability of national debt to spread burdens among different generati…
Long‐Term Fiscal Sustainability in Advanced Economies
With the Great Recession leaving nearly all advanced economies with substantially higher debt–gross domestic product ratios, this paper re‐evaluates the long‐term fiscal sustainability of these economies based on current estimates of their current‐policy fiscal trajectories. Through measuring fiscal imbalance, we find that for many countries, short‐term fiscal measures such as the debt–gross domestic product ratio and current budget deficits as a…
Measuring the Effects of Corporate Tax Cuts
On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act (TCJA), the most sweeping revision of US tax law since the Tax Reform Act of 1986. The law introduced many significant changes. However, perhaps none was as important as the changes in the treatment of traditional "C" corporations-those corporations subject to a separate corporate income tax. Beginning in 2018, the federal corporate tax rate fell from 35 percent to 21 p…
US Inequality and Fiscal Progressivity
This study measures inequality and fiscal progressivity. It differs from prior such analyses by measuring inequality based on remaining lifetime spending rather than particular resources, like wealth and current income, that only partially determine lifetime spending, and by considering inequality and progressivity within generations. To estimate the distribution of remaining lifetime spending, we run the 2016 Federal Reserve Survey of Consumer F…
Public Finance Implications of Economic Inequality
This paper considers questions about the implications of rising inequality for the theory and practice of public finance. It begins by addressing fundamental reasons why the distribution of income or wealth on an annual basis before taxes and transfers offers insufficient information: (1) it does not tell us what resources are actually available to households for consumption; and (2) in providing a snapshot of the resources available to individua…
Economics (20 obras) · Fiscal Policy and Economic Growth (16 obras) · Fiscal Policies and Political Economy (8 obras) · Macroeconomics (8 obras) · Monetary economics (8 obras) · Fiscal policy (7 obras) · Computer Science (5 obras) · Finance (5 obras) · Financial Literacy, Pension, Retirement Analysis (5 obras) · Microeconomics (5 obras)