This paper employs a multi-country large-scale Overlapping Generations model with
uninsurable labor productivity and mortality risk to quantify the impact of the demographic …

Population ageing and pension reform will have profound effects on international capital
markets. In order to quantify these effects, we develop a computational general equilibrium …

We use micro data from the US Internal Revenue Service to document how Federal Income
tax liabilities vary with income, marital status and the number of dependents. We report facts …

We use a cost-of-capital framework to analyze the long-run steady state and transition path
for GDP as a result of the 2017 tax law. We predict that, for the law as written, the long-run …

We evaluate reforms to the US tax system in a life cycle set-up with heterogeneous married
and single households and with an operative extensive margin in labour supply. We restrict …

A unified treatment of the marginal cost of public funds, covering both its theoretical
foundations and how the MCF concept can be used to analyze tax policy issues. The …

While privatizing social security can improve labor supply incentives, it can also reduce risk
sharing. We analyze a 50% privatization using an overlapping-generations model where …

We provide a model for analyzing effects of the tax system and spending programs on the
determination of government spending and taxpayer welfare. An improvement in the …

This paper studies the estate tax in a quantitative framework with business investment,
borrowing constraints, estate transmission, and wealth inequality. We find that the estate tax …

Four options to make the social security sustainable under the coming demographic shift are
presented; increase payroll taxes by 6 percentage points, reduce replacement rates by one …