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Optimal Taxation in Models of Endogenous Growth
We study the problem of optimal taxation in three infinite-horizon, representative-agent endogenous growth models. The first model is a convex model in which physical and human capital are perfectly
A Convex Model of Equilibrium Growth: Theory and Policy Implications
Our aim in this paper is to exposit a convex model of equilibrium growth. The model has two features that distinguish it from most other work on the subject: first, that the model is convex on the
On the Optimal Taxation of Capital Income
One of the best known results in modern public finance is the Chamley-Judd result showing that the optimal tax rate on capital income is zero in the long-run. In this paper, we reexamine this result
Mortality, fertility, and saving in a Malthusian economy
We develop a model of fertility choice by utility maximizing households, based on an explicit notion of intergenerational external effects. In contrast to previous economic literature, we assume that
An Economic History of Fertility in the U.S.: 1826-1960
Aqueous structured surfactants, e.g., lamellar, or preferably spherulitic systems optionally containing suspended solids are used as functional fluids, such as drilling fluids, cutting fluids,
The growth effects of monetary policy
This article investigates the relationship between inflation and output, in the data and in standard models. The article reports that empirical cross-country studies generally find a nonlinear,
Abstract: We study the large observed changes in labor supply by married women in the United States over the post-World War II period, a period that saw little change in the labor supply by single
Fertility and Social Security
The data show that an increase in government provided old-age pensions is strongly correlated with a reduction in fertility. What type of model is consistent with this finding? We explore this
Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?
In this chapter we revisit the relationship between income and fertility. There is overwhelming empirical evidence that fertility is negatively related to income in most countries at most times.