Outlook for the Budget and the Economy
- Working Paper
Financing Losses from Catastrophic Risks: Working Paper 2008-09
Catastrophe insurance helps spread risks and increases the ability of policyholders and the economy to recover from both natural disasters and terrorist attacks.
- Working Paper
Taxable Income Responses to 1990s Tax Acts: Further Explorations: Working Paper 2008-08
This paper presents applications of variants of a differencing methodology to Internal Revenue Service tax records in order to estimate taxable income elasticities for the 1990s.
- Working Paper
The Labor Supply Response in Macroeconomic Models: Working Paper 2008-07
We evaluate the labor supply response in a stochastic overlapping generations model with incomplete markets and a non separable utility function in labor and consumption.
- Working Paper
Reestimating the Phillips Curve and the NAIRU: Working Paper 2008-06
Recent research indicates that there have been fund amental changes in the way the economy works since the mid-1980s, including a reduction in the volatility of real GDP growth and lower rates of inflation and unemployment.
- Working Paper
An Assessment of CES and Cobb-Douglas Production Functions: Working Paper 2008-05
This paper surveys empirical and theoretical literature on macroeconomic production functions and assesses whether constant elasticity of substitution or Cobb-Douglas specification is more appropriate for CBO's macroeconomic forecasts.
- Working Paper
Have People Delayed Claiming Retirement Benefits? Responses to Changes in Social Security Rules: Working Paper 2008-04
This paper examines changes in the age at which people claim Social Security retirement benefits in response to two changes that have been made recently to rules governing the Social Security program.
- Working Paper
China's Approach to Capital Flows Since 1978: Working Paper 2008-02
Since China began its pro-market reform in 1978, its management of capital flows has followed a cautious learning-by-doing approach, guided by the goal of propelling strong economic growth while minimizing risk to stability.
- Working Paper
A Sensitivity Analysis of the Elasticity of Taxable Income: Working Paper 2008-01
This paper applies the methods of Gruber and Saez (2002) to a panel of tax returns spanning years 1979 through 2001 in order to examine the sensitivity of the elasticities of taxable and broad income to an array of factors.
- Working Paper
The Fair Value of the Federal Deposit Insurance Guarantee: Working Paper 2007-13
The Federal Deposit Insurance Corporation guarantees insured deposits in banks and savings associations in the event of the depository’s insolvency. As of December 2006, the FDIC insured an estimated $4.1 trillion in deposits.
- Working Paper
Does Experience Make Better Doctors? Evidence from LASIK Eye Surgeries: Working Paper 2007-12
We examine the "learning by doing" hypothesis in medicine using a longitudinal census of laser in situ keratomileusis (LASIK) eye surgeries collected directly from patient charts.