Outlook for the Budget and the Economy
- Working Paper
Uncertain Policy for an Uncertain World: The Case of Social Security: Working Paper 2006-05
This paper analyzes a state-dependent approach to policy in which future Social Security benefit formulas are tied to realized economic and demographic outcomes over time.
- Working Paper
A Steady-State Analysis of Proposals to Reduce the Tax on Saving: Working Paper 2006-04
This paper sets forth a stylized model for estimating the “steady-state” revenue effects of tax proposals designed to affect saving.
- Working Paper
The Elasticity of Taxable Income During the 1990s: A Sensitivity Analysis: Working Paper 2006-03
This paper examines alternative methodologies for measuring responses to the 1990 and 1993 federal tax increases.
- Working Paper
Reallocation and Productivity Growth in Japan: Revisiting the Lost Decade of the 1990s: Working Paper 2006-02
Using firm-level data between 1969 and 1996, this paper investigates the micro-reallocation mechanisms to disentangle the factors behind the slowdown in productivity growth during the 1990s.
- Working Paper
Early Announcement of a Public Pension Reform in Italy: Working Paper 2006-01
There has been much discussion about the need for public pension reforms in most of the Organization for Economic Cooperation and Development (OECD) countries, but what is the macroeconomic impact of announcing reforms in advance?
- Working Paper
Are Married Women Secondary Workers? The Evolution of Married Women's Labor Supply in the U.S. from 1983 to 2000: Working Paper 2005-11
We find that labor supply elasticities with respect to own wages and to other household members’ income for married white women have decreased significantly in absolute terms during the 1983-2000 period.
- Working Paper
Labor Adjustment, Productivity and Output Volatility: An Evaluation of Japan's Employment Adjustment Subsidy: Working Paper 2005-10
This paper provides a theoretical examination of the impact of Japan’s Employment Adjustment Subsidy, a major employment insurance policy since 1975, on labor adjustment, productivity and output fluctuations in the iron and steel sector.
- Working Paper
Median-voter Equilibria in the Neoclassical Growth Model under Aggregation: Working Paper 2005-09
We study a dynamic version of Meltzer and Richard’s median-voter model where agents differ in initial wealth.
- Working Paper
Putty-Clay Capital and an Index of Capital per Hour: Working Paper 2005-08
This paper presents an index of capital per hour constructed using the assumption of putty-clay capital.
- Working Paper
Social Effects, Household Time Allocation, and the Decline in Union Formation: Working Paper 2005-07
Economic theories of the household and the marriage market provide potential explanations for differences in household formation rates over time based in part on the evolution of female wages.