A General Equilibrium Model for Tax Policy Evaluation

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University of Chicago Press, May 15, 2009 - Business & Economics - 274 pages
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This book reports the authors' research on one of the most sophisticated general equilibrium models designed for tax policy analysis. Significantly disaggregated and incorporating the complete array of federal, state, and local taxes, the model represents the U.S. economy and tax system in a large computer package. The authors consider modifications of the tax system, including those being raised in current policy debates, such as consumption-based taxes and integration of the corporate and personal income tax systems. A counterfactual economy associated with each of these alternatives is generated, and the possible outcomes are compared.

 

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Contents

1 Introduction
1
2 General Equilibrium Analysis of Tax Policies
6
3 The Single Period Submodel
25
4 Data on Intermediate Production and Value Added
55
5 Data on Household Income and Expenditure Investment the Government and Foreign Trade
90
6 Adjustments to the Data Set and Specification of Parameters
113
7 Dynamic Considerations
140
8 Integration of the Corporate and Personal Income Taxes
153
9 Replacing the Personal Income Tax with a Progressive Consumption Tax
171
10 The Relationship between Tax Rates and Government Revenue
188
11 Alternative Models of the Foreign Sector
203
12 Concluding Remarks
235
References
245
Index
261
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About the author (2009)

Charles L. Ballard is an award-winning Professor in the Department of Economics at Michigan State University. He is a widely-published author; a proud Princeton graduate; and has been a consultant to United States Department of Health and Human Services; Ministry of Business and Industry, Denmark; Finnish Forest Research Institute; Educational Testing Service; United States Department of Agriculture, Economic Research Service; Helsinki School of Economics and Business; and the United States Department of Treasury, Office of Tax Analysis. Ballard is a member of the American Economic Association, the International Institute of Public Finance, the Midwest Political Science Association, and the National Tax Association.

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