Resources
From peer-reviewed research to accessible policy briefs, explore the scholarship that’s shaping debates and driving change.
56 Results
Housing Wealth Accumulation and Electoral Representation (opens in a new tab)
Working Papers AUG 14, 2026
We document that housing wealth accumulation systematically differs among homeowners by their political participation. Using a nationwide voter-property dataset, we find that realized housing appreciation increases monotonically the more a…
By: Carlos F. Avenancio-León, Yutao He (opens in a new tab), Michael Reher (opens in a new tab)
Equity Prices, Market Power, and Optimal Corporate Tax Policy (opens in a new tab)
Working Papers JUL 22, 2025
We study the optimal design of corporate tax policy in a textbook life-cycle model featuring two key deviations: (i) firms are imperfectly competitive and (ii) households save by purchasing equity…
By: Ignacio González (opens in a new tab), Juan A. Montecino (opens in a new tab), Joseph E. Stiglitz
Americans Informed About the Distributional Effects of Republicans’ Budget Bill Overwhelmingly Oppose It (opens in a new tab)
Working Papers JUN 25, 2025
Republicans in the Senate are currently considering the One Big Beautiful Bill Act, which, if enacted, would be the most regressive U.S. tax and budget law in at least the…
By: Jacob S. Hacker, Patrick Sullivan (opens in a new tab)
Financial and Transfer Income as Components of the Regional Economic Base (opens in a new tab)
Working Papers JUN 24, 2025
Economists and geographers have long divided industries into “basic” and “nonbasic” sectors depending on whether they bring money into a region from outside or serve local demand. Traditionally, the regional…
By: Robert Manduca (opens in a new tab)
The Firm as Tax Shelter (opens in a new tab)
Working Papers MAY 22, 2025
I present evidence that firms serve as tax-free consumption vehicles. Drawing on a unique combination of data from an electronic invoicing program in Portugal (e-Fatura), I show that individuals who…
By: David Leite (opens in a new tab)
Request for Proposals: The economic effects of the Inflation Reduction Act (opens in a new tab)
RFPs APR 2, 2025
By: Equitable Growth (opens in a new tab)
The distribution of capital gains in the United States (opens in a new tab)
Working Papers FEB 26, 2025
Booming stock, housing, and private business markets have driven large capital gains in the United States, averaging 20% of national income over the past two decades. Using internal IRS tax…
By: Cole Campbell (opens in a new tab), Jacob A. Robbins, Sam Wylde (opens in a new tab)
The Spiderweb of Partnership Tax Structures (opens in a new tab)
Working Papers FEB 12, 2025
U.S. partnerships control more than $40 trillion in assets, vastly outnumber U.S. public firms, and contribute significantly to the U.S. tax non-compliance of pass-through entities, which is larger than the…
By: Ryan Hess (opens in a new tab), Emily Black (opens in a new tab), Zaynah Javed (opens in a new tab), Jonathan Hennessy (opens in a new tab), Rebecca Lester (opens in a new tab), Jacob Goldin (opens in a new tab), Daniel E. Ho, Annette Portz (opens in a new tab)
Who Gains from Corporate Tax Cuts? (opens in a new tab)
Working Papers NOV 27, 2024
Goods producers increase their capital expenditure and employment in response to a cut in marginal corporate income tax rates or an increase in investment tax credits. In contrast, companies in…
By: James Cloyne (opens in a new tab), Ezgi Kurt (opens in a new tab), Paolo Surico (opens in a new tab)
Crypto Tax Evasion (opens in a new tab)
Working Papers NOV 21, 2024
We quantify the extent of crypto tax noncompliance and evasion, and assess the efficacy of alternative tax enforcement interventions. The context of the study is Norway. This context allows us…
By: Tom G. Meling, Magne Mogstad (opens in a new tab), Arnstein Vestre (opens in a new tab)
Request for Proposals: Promoting competition and supporting workers in an era of AI innovation (opens in a new tab)
RFPs NOV 20, 2024
By: Equitable Growth (opens in a new tab)
Request for proposals: Research grants for early career scholars (opens in a new tab)
RFPs OCT 30, 2024
By: Equitable Growth (opens in a new tab)
Asymmetric Effects of Monetary Policy on Firms (opens in a new tab)
Working Papers SEP 16, 2024
This paper documents firm-level evidence on the asymmetric effects of monetary policy in the US. Focusing on the 1980q3-2019q4 period, I find that monetary tightenings show larger effects on firms’…
By: Ezgi Kurt (opens in a new tab)
Bonus Question: How Does Flexible Incentive Pay Affect Wage Rigidity? (opens in a new tab)
Working Papers JUL 17, 2024
We introduce dynamic incentive contracts into a model of inflation and unemployment dynamics. Our main result is that wage cyclicality from incentives neither affects the slope of the Phillips curve…
By: Meghana Gaur (opens in a new tab), John Grigsby (opens in a new tab), Jonathon Hazell (opens in a new tab), Abdoulaye Ndiaye (opens in a new tab)
Behavioral Responses to Wealth Taxation: Evidence from Colombia (opens in a new tab)
Working Papers MAY 14, 2024
We study behavioral responses to personal wealth taxes in Colombia. We utilize tax microdata from 1993 to 2016 linked with the leaked Panama Papers to investigate offshoring to the country’s…
By: Juliana Londoño-Vélez (opens in a new tab), Javier Avila-Mahecha (opens in a new tab)
Spending Responses to the Child Tax Credit Expansions (opens in a new tab)
Working Papers APR 2, 2024
This article summarizes the literature that studied how people used the 2021 advance Child Tax Credit. Four primary findings emerged. Families more frequently reporting paying down debt during the first…
By: Jonathan Fisher (opens in a new tab), Jake Schild (opens in a new tab), David S. Johnson
Request for Proposals: How effective was the fiscal response to the COVID-19 recession for workers? (opens in a new tab)
RFPs MAR 18, 2024
By: Equitable Growth (opens in a new tab)
Request for proposals: Research grants for early career scholars (opens in a new tab)
RFPs NOV 30, 2023
By: Equitable Growth (opens in a new tab)
The Rise of Pass-Throughs: an Empirical Investigation (opens in a new tab)
Working Papers SEP 26, 2023
Pass-through entities have emerged as the leading U.S. business organization form in recent decades. Using comprehensive confidential administrative data, this paper highlights five core findings: (1) the rise in pass-throughs…
By: Sebastian Dyrda (opens in a new tab), Benjamin Pugsley (opens in a new tab)
The New Economics of Industrial Policy (opens in a new tab)
Working Papers SEP 19, 2023
We discuss the considerable literature that has developed in recent years providing rigorous evidence on how industrial policies work. This literature is a significant improvement over the earlier generation of…
By: Réka Juhász (opens in a new tab), Nathan Lane, Dani Rodrik (opens in a new tab)
The Short-Term Labor Supply Response to the Expanded Child Tax Credit (opens in a new tab)
Working Papers JUL 26, 2023
We estimate the extensive and intensive margin labor supply response to the monthly Child Tax Credit disbursed in 2021 as a part of the American Rescue Plan Act. Using Current…
By: Brandon Enriquez (opens in a new tab), Damon Jones (opens in a new tab), Ernest V. Tedeschi
Wealth and Property Taxation in the United States (opens in a new tab)
Working Papers JUL 5, 2023
We study the history and geography of wealth accumulation in the US, using newly collected historical property tax records since the early 1800s. The US General Property Tax was a…
By: Sacha Dray (opens in a new tab), Camille Landais (opens in a new tab), Stefanie Stantcheva (opens in a new tab)
Monetary Policy, Labor Income Redistribution and the Credit Channel: Evidence from Matched Employer-Employee and Credit Registers (opens in a new tab)
Working Papers NOV 17, 2022
We document the redistributive effects of monetary policy on labor market outcomes via the credit channel. For identification, we exploit matched administrative datasets in Portugal – employee-employer and credit registers…
By: Martina Jasova (opens in a new tab), Caterina Mendicino (opens in a new tab), Ettore Panetti (opens in a new tab), José-Luis Peydró (opens in a new tab), Dominik Supera (opens in a new tab)
Marginal Propensity to Consume in Recessions: a Meta-analysis (opens in a new tab)
Working Papers SEP 12, 2022
This paper assembles a dataset of 1244 estimates of marginal propensities to consume (MPC) out of stimulus checks and other small transitory or predictable payments—as reported by 40 studies. I…
Taxing the Rich: How Incentives and Embeddedness Shape Millionaire Tax Flight (opens in a new tab)
Working Papers JUL 28, 2022
Taxing the rich is one of the central debates in this era of rising inequality. Elite taxation can alleviate income disparities and fund public investments. Yet, if top earners engage…
By: Cristobal Young (opens in a new tab), Ithai Lurie (opens in a new tab)
In Conversation with R. Jisung Park (opens in a new tab)
In Conversation JUL 25, 2022
Equitable Growth in Conversation is a recurring series where we talk with economists and other academics to help us better understand whether and how economic inequality affects economic growth and…
By: Michael Garvey (opens in a new tab)
Understanding Climate Damages: Consumption versus Investment (opens in a new tab)
Working Papers APR 22, 2022
Existing climate-economy models use aggregate damage functions to model the effects of climate change. This approach assumes climate change has equal impacts on the productivity of firms that produce consumption…
By: Gregory P. Casey (opens in a new tab), Stephie Fried (opens in a new tab), Matthew Gibson (opens in a new tab)
Capital Investment and Labor Demand (opens in a new tab)
Working Papers JAN 11, 2022
We study how tax policies that lower the cost of capital impact investment and labor demand. Difference-in-differences estimates using confidential US Census Data on manufacturing establishments show that tax policies…
By: E. Mark Curtis (opens in a new tab), Daniel G. Garrett (opens in a new tab), Eric C. Ohrn, Kevin A. Roberts (opens in a new tab), Juan Carlos Suárez Serrato (opens in a new tab)
Closing the Innovation Gap in Pink and Black (opens in a new tab)
Working Papers JAN 10, 2022
Recent research shows the negative impact of discrimination not only on the targets of discrimination but also on the economy as a whole. Racial and gender inequality can limit the…
By: Lisa D. Cook, Janet Gerson (opens in a new tab), Jennifer Kuan (opens in a new tab)
In Conversation with Carlos Fernando Avenancio-León (opens in a new tab)
In Conversation SEP 20, 2021
Equitable Growth in Conversation is a recurring series where we talk with economists and other academics to help us better understand whether and how economic inequality affects economic growth and…
By: David S. Mitchell (opens in a new tab)
Diverse Policy Committees Can Reach Underrepresented Groups (opens in a new tab)
Working Papers SEP 16, 2021
In a randomized control trial that varies the salience of female and minority representation on the Federal Reserve’s monetary policy committee, the FOMC, we test whether diversity affects how Fed…
By: Francesco D’Acunto (opens in a new tab), Andreas Fuster (opens in a new tab), Michael Weber (opens in a new tab)
Covid-19 Businesses Reopenings and Consumer Spending (opens in a new tab)
Working Papers MAY 27, 2021
This paper studies if Covid-19 retail and restaurant shutdowns and reopenings were responsible for tin the United States. We find reopening policies substantially increased he dramatic ‘V’ shaped pattern of…
By: Raissa Dantas (opens in a new tab), Jacob A. Robbins
Tax Refund Uncertainty: Evidence and Welfare Implications (opens in a new tab)
Working Papers APR 8, 2021
Transfers paid through annual tax refunds are a large but uncertain source of income for poor households. We document that low-income tax-filers have substantial subjective uncertainty about these refunds. We…
By: Sydnee Caldwell (opens in a new tab), Scott Nelson (opens in a new tab), Daniel Waldinger (opens in a new tab)
Tax Evasion at the Top of the Income Distribution: Theory and Evidence (opens in a new tab)
Working Papers MAR 22, 2021
This paper studies tax evasion at the top of the U.S. income distribution using IRS micro-data from (i) random audits, (ii) targeted enforcement activities, and (iii) operational audits. Drawing on…
By: John Guyton (opens in a new tab), Patrick Langetieg (opens in a new tab), Daniel Reck (opens in a new tab), Max Risch (opens in a new tab), Gabriel Zucman (opens in a new tab)
A Price-Based Approach to Distributing Taxes on Business Income (opens in a new tab)
Working Papers DEC 21, 2020
This paper proposes a new approach to distributing taxes on business income based on modeling prices. Current approaches to distributing these taxes rely on explicit incidence assumptions, which amount to…
By: Greg Leiserson (opens in a new tab)
The Assessment Gap: Racial Inequalities in Property Taxation (opens in a new tab)
Working Papers JUN 10, 2020
We use panel data covering 118 million homes in the United States, merged with geolocation detail for 75,000 taxing entities, to document a nationwide “assessment gap” which leads local governments…
By: Carlos Avenancio-León, Troup Howard (opens in a new tab)
Distribution Analysis as Welfare Analysis (opens in a new tab)
Working Papers JUN 9, 2020
This paper formalizes fixed-quantities distribution analysis as the primary ingredient in the welfare analysis of tax changes. The fixed-quantities change in tax, meaning the change in household resources resulting from…
By: Greg Leiserson (opens in a new tab)
In Conversation with Mehrsa Baradaran (opens in a new tab)
In Conversation JUN 9, 2020
“Equitable Growth in Conversation” is a recurring series where we talk with economists and other academics to help us better understand whether and how economic inequality affects economic growth and…
By: Amanda Fischer (opens in a new tab)
Redistribution with Performance Pay (opens in a new tab)
Working Papers MAY 6, 2020
This working paper was updated from the April 2020 version to the May 2020 version on May 27. Half of the jobs in the U.S. feature pay-for-performance. We study nonlinear…
By: Pawel Doligalski (opens in a new tab), Abdoulaye Ndiaye (opens in a new tab), Nicolas Werquin (opens in a new tab)
Heterogeneity and Persistence in Returns to Wealth (opens in a new tab)
Working Papers NOV 19, 2019
We provide a systematic analysis of the properties of individual returns to wealth using twelve years of population data from Norway’s administrative tax records. We document a number of novel…
By: Andreas Fagereng (opens in a new tab), Luigi Guiso (opens in a new tab), Davide Malacrino (opens in a new tab), Luigi Pistaferri (opens in a new tab)
Use It or Lose It: Efficiency Gains from Wealth Taxation (opens in a new tab)
Working Papers OCT 10, 2019
How does wealth taxation differ from capital income taxation? When the return on investment is equal across individuals, a well-known result is that the two tax systems are equivalent. Motivated…
By: Fatih Guvenen (opens in a new tab), Gueorgui Kambourov (opens in a new tab), Burhan Kuruscu (opens in a new tab), Sergio Ocampo (opens in a new tab), Daphne Chen (opens in a new tab)
In Conversation with Gabriel Zucman (opens in a new tab)
In Conversation AUG 7, 2019
“Equitable Growth in Conversation” is a recurring series where we talk with economists and other academics to help us better understand whether and how economic inequality affects economic growth and…
By: Heather Boushey (opens in a new tab)
Demographic Origins of the Startup Deficit (opens in a new tab)
Working Papers JUN 4, 2019
We propose a simple explanation for the long-run decline in the startup rate. It was caused by a slowdown in labor supply growth since the late 1970s, largely pre-determined by…
By: Fatih Karahan (opens in a new tab), Benjamin Pugsley (opens in a new tab), Aysegül Sahin (opens in a new tab)
In Conversation with Emmanuel Saez (opens in a new tab)
In Conversation FEB 25, 2019
“Equitable Growth in Conversation” is a recurring series where we talk with economists and other academics to help us better understand whether and how economic inequality affects economic growth and…
By: Heather Boushey (opens in a new tab)
Exit options in firm-government negotiations: An evaluation of the Texas chapter 313 program (opens in a new tab)
Working Papers OCT 24, 2017
Download File 10242017-WP-exit-options-negotiations Read the full PDF in your browser Existing research has examined how the mobility of capital shapes bargains between firms and governments. The major barriers to examining…
By: Nathan Jensen (opens in a new tab)
In Conversation with Kimberly Clausing (opens in a new tab)
In Conversation OCT 18, 2017
“Equitable Growth in Conversation” is a recurring series where we talk with economists and other social scientists to help us better understand whether and how economic inequality affects economic growth…
By: Heather Boushey (opens in a new tab)
Do Americans want to tax capital? Evidence from online surveys (opens in a new tab)
Working Papers OCT 17, 2017
Download File 10172017-WP-americans-tax-capital Read the full PDF in your browser A vast theoretical literature in public finance has studied the question of the desirability of capital taxation. Distinct from questions…
By: Raymond Fisman (opens in a new tab), Keith Gladstone (opens in a new tab), Ilyana Kuziemko (opens in a new tab), Suresh Naidu (opens in a new tab)
Tax cuts for whom? Heterogeneous effects of income tax changes on growth and employment (opens in a new tab)
Working Papers APR 11, 2017
Download File 04112017-WP-effects-of-income-tax-changes-on-economic-activity Read the full PDF in your browser This paper investigates how tax changes for different income groups affect aggregate economic activity. I construct a measure of who…
By: Owen Zidar (opens in a new tab)
Fiscal policy stabilization: Purchases or transfers? (opens in a new tab)
Working Papers MAR 14, 2017
Download File 031417-WP-fiscal-policy-stabiliation-purchases-or-transfers Read the full PDF in your browser Both government purchases and transfers figure prominently in the use of fiscal policy for counteracting recessions. However, existing representative agent…
By: Neil R. Mehrotra
Problems with destination-based corporate taxes and the Ryan blueprint (opens in a new tab)
Working Papers FEB 28, 2017
Download File 022817-WP-the-problems-with-the-ryan-blueprint Read the full PDF in your browser With the election of Donald Trump and the Republican Party’s domination of Congress, House Speaker Paul Ryan’s blueprint for fundamental…
By: Reuven S. Avi-Yonah (opens in a new tab), Kimberly A. Clausing
Geographic cross-sectional fiscal multipliers: What have we learned? (opens in a new tab)
Working Papers JAN 24, 2017
Download File 012417-WP-cross-sectional-fiscal-multipliers Read the full PDF in your browser A geographic cross-sectional fiscal multiplier measures the effect of an increase in spending in one region in a monetary union.…
By: Gabriel Chodorow-Reich (opens in a new tab)
Taxing the rich more: Preliminary evidence from the 2013 tax increase (opens in a new tab)
Working Papers NOV 3, 2016
Download File 110316-WP-evidence-from-2013-tax-increase Read the full PDF in your browser This paper provides preliminary evidence on behavioral responses to taxation around the 2013 tax increase that raised top marginal tax…
By: Emmanuel Saez (opens in a new tab)
The rise of inequality, partisan politics, and changes to federal tax progressivity (opens in a new tab)
Working Papers JUL 5, 2016
Download File faricy-partisanpol-fedtaxprog-working-paper Read the full PDF in your browser This paper theorizes and examines the relationship among mass public opinion, political party control of the federal government, and changes…
By: Christopher Faricy (opens in a new tab)
Electoral institutions and electoral cycles in foreign direct investment (opens in a new tab)
Working Papers MAY 3, 2016
Download File Elections-fdi-working-paper Read the full PDF in your browser Through a field experiment and audit study we test prominent arguments about the political-business and political-budget cycles. We explore how…
By: Nathan M. Jensen, Michael G. Findley, Daniel L. Nielson
The effect of profit shifting on the corporate tax base in the U.S. and beyond (opens in a new tab)
Working Papers APR 5, 2016
Download File Effects-profit-sharing-corp-tax-base-working-paper Read the full PDF in your browser This paper estimates the effect of profit shifting on corporate tax base erosion for the United States. Using Bureau of…
By: Kimberly A. Clausing
Income and earnings mobility in U.S. tax data (opens in a new tab)
Working Papers APR 5, 2016
Download File Income-earnings-mobility-tax-data-working-paper Read the full PDF in your browser This paper uses a large panel of federal income tax data to investigate intragenerational income mobility in the United States…
By: Jeff Larrimore (opens in a new tab), Jacob Mortenson (opens in a new tab), David Splinter (opens in a new tab)
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