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State and Local Government Budgets
A B Abel Bequests and Social Security with Uncertain Lifetimes dences of the property tax 27 Also Gordon and Slemrod
NBER Working Paper No 1372 June 1984
adjustment aggregate American American Statistical Association analysis analyze Arbitrage Pricing Theory asset prices average behavior billions bonds Bureau of Economic business cycle capital changes competitive Conference consumption corporate cost countries debt decline demand Discussant dollar econometric Economic Association Economic Research Economists effects empirical employment equilibrium estimates evidence examines exports factors federal Feldstein financial markets firms forecasts Gregory Mankiw Harvard University implies income increase industry inflation investment investors Japan Japanese labor market ln addition ln this paper lnstitute lnternational macroeconomic Martin Feldstein ment monetary policy National Bureau NBER and Harvard NBER and University NBER Reporter NBER Working Paper nomic optimal output pension percent portfolio predicted productivity growth rational expectations real interest rates recent relative returns risk premiums Robert saving shocks structure survey tax rate taxation theory tion trade union United variables wage workers