Tax Policy and the Economy: Volume 2

Tax policy debates, generated by one of the most sweeping reforms of the Federal income tax system since its inception, are certain to continue for years to come, providing a fertile field for economic research. This book is the second in a series of annual publications on tax policy and the economy initiated by the National Bureau of Economic Research and designed to convey research results in a way that is accessible to a wide body of lawyers, policymakers, and business people involved in formulating tax policy.
Studies in Volume 2 include Don Fullerton's reevaluation of traditional claims that investment incentives bias the tax system toward capital-intensive industries; Laurence Lindsey's further results on the sensitivity of tax revenues to reductions in the top marginal tax rate; Lawrence Kotlikoff's assessment of the impact of tax reform on the pension system; and Douglas Bernheim's examination of international evidence on the impact of budget deficits on trade deficits. Volume 2 also includes research by Roger Gordon and James Hines evaluating the impact of tax reform legislation on the investment decisions of multinational corporations.