Productivity, Vol. 2: International Comparisons of Economic Growth

(These two volumes present empirical studies that have per...)

These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most straightforward application of this idea is to investments that create property rights, but these volumes broaden the meaning of capital formation to include investments in education and training. International Comparisons of Economic Growth focuses on comparisons among industrialized countries. Although Germany and Japan are often portrayed as economic adversaries of the US, postwar experiences in all three countries support policies that give high priority to stimulating and rewarding capital formation. In the Asian model of growth exemplified by Japan investments in tangible assets and human capital are especially critical during periods of rapid growth.

http://www.amazon.com/gp/product/0262100509/?tag=2022091-20

Investment, Vol. 2: Tax Policy and the Cost of Capital

(These studies of the cost of capital will inspire and gui...)

These studies of the cost of capital will inspire and guide policy-makers who share the goal of making the allocation of capital in a market economy more efficient. Volume 2 is devoted to the cost of capital approach to tax policy. This approach has supplied an important intellectual impetus for reforms of capital income taxation in the United States and around the world. Widespread applications of the cost of capital and the closely related concept of the marginal effective tax rate are due to the fact that these concepts facilitate the representation of economically relevant features of complex tax statutes in a highly succinct form.

http://www.amazon.com/gp/product/0262100576/?tag=2022091-20

Growth, Vol. 1: Econometric General Equilibrium Modeling

( Volume 1: Econometric General Equilibrium Modeling pres...)

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration is that it requires highly restrictive assumptions about technology and preferences, such as fixed input-output coefficients. These assumptions are contradicted by the massive evidence of energy conservation in response to higher world energy prices, beginning in 1973. The econometric approach to general equilibrium modeling successfully freed economic policy analysis from the straitjacket imposed by calibration.As a consequence of changes in energy prices and new environmental policies, a wealth of historical experience has accumulated over the past two decades. Interpreted within the framework of the neoclassical theory of economic growth, this experience provides essential guidelines for future policy formation. Volume 2: Energy, the Environment, and Economic Growth presents a new econometric general equilibrium model of the United States that captures the dynamic mechanisms underlying growth trends and responses to energy and environmental policies. Jorgenson uses the model to analyze the impacts of environmental regulations on US economic growth and tax policies for controlling US emissions of carbon dioxide.

http://www.amazon.com/gp/product/0262100738/?tag=2022091-20

Investment, Vol. 3: Lifting the Burden: Tax Reform, the Cost of Capital, and U.S. Economic Growth

( This book presents a comprehensive treatment of the cos...)

This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy. This approach has provided an intellectual impetus for reforms of capital income taxation in the United States and around the world. The cost of capital and the marginal effective tax rate are combined with estimates of substitution possibilities by businesses and households in analyzing tax and spending programs. This makes it possible to evaluate tax reforms and changes in government spending. Studies of the economic impact of tax policies have taken two forms. First, the cost of capital has been incorporated into investment functions in macroeconomic models, which are used to model the short-run responses to tax policy changes. Second, the cost-of-capital approach has been integrated into applied general-equilibrium models used in evaluating the long-run economic effects of tax reforms.The cost-of-capital approach suggests two avenues for tax reform. One would retain the income tax base of the existing U.S. tax system, but would equalize tax burdens on all forms of assets as well as average and marginal tax rates on labor income. The other would substitute consumption for income as a tax base, while equating average and marginal tax rates on labor income.

http://www.amazon.com/gp/product/0262100916/?tag=2022091-20

Econometrics, Vol. 3: Economic Growth in the Information Age

( The relentless decline in the prices of information tec...)

The relentless decline in the prices of information technology (IT) has steadily enhanced the role of IT investment as a source of economic growth in the United States. Productivity growth in IT-producing industries has gradually risen in importance, and a productivity revival has taken place in the rest of the economy. In this book Dale Jorgenson shows that IT provides the foundation for the resurgence of American economic growth.Information technology rests in turn on the development and deployment of semiconductors--transistors, storage devices, and microprocessors. The semiconductor and IT industries are global in scope, with an elaborate international division of labor. This poses important questions about the American growth resurgence. For example, where is the evidence of the "new economy" in other leading industrialized nations? To address this question, Jorgenson compares the recent growth performance in the G7 countries--Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. Several important participants in the IT industries, such as South Korea, Malaysia, Singapore, and Taiwan, are newly industrializing economies. What does this portend for the future economic growth of developing countries? Jorgenson analyzes past and future growth trends in China and Taiwan to arrive at a fuller understanding of economic growth in the information age.

http://www.amazon.com/gp/product/0262100940/?tag=2022091-20

Investment, Vol. 1: Capital Theory and Investment Behavior

(These studies of the cost of capital will inspire and gui...)

These studies of the cost of capital will inspire and guide policy-makers who share the goal of making the allocation of capital in a market economy more efficient. Volume 1 presents pioneering studies of the cost of capital as a determinant of investment expenditures. The cost of capital summarizes the future consequences of investment essential for current decisions. This concept has become an indispensible tool for studying the dynamics of investment behavior. Both macroeconome tric models and intertemporal general equilibrium models have employed the cost of capital as a determinant of short- and long-term investment expenditures.

http://www.amazon.com/gp/product/0262100568/?tag=2022091-20

(Econometrics: Econometric Modeling of Producer Behavior v. 1 ) Author: Dale W. Jorgenson Jun-2000

http://www.amazon.com/gp/product/B010BAHC9K/?tag=2022091-20

Tax Reform and the Cost of Capital: An International Comparison

(The tax reform movement that swept the U.S., Great Britai...)

The tax reform movement that swept the U.S., Great Britain, and most other industrialized nations during the last decade has focused attention on international comparisons of the cost of capital. More recently, international comparability has become a critical issue of tax harmonization. This is a vital concern in the European Community, as well as between Canada and the United States. This volume provides international comparisons of the cost of different types of capital for nine major industrialized countriesAustralia, Canada, France, Germany, Italy, Japan, Sweden, the United Kingdom, and the United Statesfor the period 1980-1990. In the early 1980s the introduction of tax incentives for saving and investment gradually shifted the tax base from income toward consumption. By 1990 most of these special tax provisions had been reduced or repealed in order to lower tax rates and equalize the tax treatment of different forms of capital income. Income was firmly reestablished as the most appropriate basis for taxation. Separate chapters for each of the nine countries, written by leading experts in public economics, provide detailed accounts of tax policy changes over the decade. Each chapter contains a quantitative description of these tax policies and summarizes this information in the form of effective tax rates. The book thus serves as an indispensable reference for comparing capital income taxation in industrialized countries during a period of rapid policy change.

http://www.amazon.com/gp/product/0815747152/?tag=2022091-20

Productivity: Information Technology and the American Growth Resurgence (Volume 3)

( The American economy has experienced renewed growth sin...)

The American economy has experienced renewed growth since 1995, with this surge rooted in the development and deployment of information technology (IT). This book traces the American growth resurgence to its sources within individual industries, documents the critical role of IT, and shows how U.S. nvestment in IT has important parallels in other developed countries.In analyzing the experience in the United States, the authors identify four IT-producing industries, 17 IT-using industries, and 23 non-IT industries and show that the IT-producing and IT-using industries play a disproportionate role in the American growth resurgence. These industries account for only about 30 percent of US GDP but contributed half of the acceleration in economic growth. The study finds that differences in the relative importance of IT-producing industries in other G7 countries have contributed to wide disparities in the impact of IT on economic growth.Productivity, Volume 3 will be of special interest to analysts of the "new economy" and its remarkable persistence through periods of boom and recession.

http://www.amazon.com/gp/product/0262101114/?tag=2022091-20

Tax Reform and the Cost of Capital (Lindahl Lectures on Monetary and Fiscal Policy)

(The cost of capital was introduced almost thirty years ag...)

The cost of capital was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behavior. Within the past decade, the cost of capital has assumed a central role in tax reform debates through the closely related concept of the marginal effective tax rate. This book provides a comprehensive treatment of the cost of capital approach to tax policy analysis. Keeping the analytical level of this work has been kept to a minimum, the authors introduce complexities in a step by step fashion, leading up to a representation of tax systems for capital income that is suitable for tax policy analysis. The success of the cost of capital approach is due in large part to its ability to assimilate a virtually unlimited amount of descriptive detail on alternative tax policies. To provide guidance to students and tax policy professionals, this book contains a full implementation of the approach for the United States, including an analysis of the alternative proposals that culminated in the highly influential Tax Reform Act of 1986 in the United States. It also describes opportunities for further research and gives a complete and up-to-date bibliography to the rapidly expanding literature. This is the first in a series of Lectures in Monetary and Fiscal Policy at Uppsala University in honor of Erik Lindahl.

http://www.amazon.com/gp/product/B003XDTECG/?tag=2022091-20

Growth: Energy, the Environment, and Economic Growth (Volume 2)

( Volume 1: Econometric General Equilibrium Modeling pres...)

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration is that it requires highly restrictive assumptions about technology and preferences, such as fixed input-output coefficients. These assumptions are contradicted by the massive evidence of energy conservation in response to higher world energy prices, beginning in 1973. The econometric approach to general equilibrium modeling successfully freed economic policy analysis from the straitjacket imposed by calibration. As a consequence of changes in energy prices and new environmental policies, a wealth of historical experience has accumulated over the past two decades. Interpreted within the framework of the neoclassical theory of economic growth, this experience provides essential guidelines for future policy formation. Volume 2: Energy, the Environment, and Economic Growth presents a new econometric general equilibrium model of the United States that captures the dynamic mechanisms underlying growth trends and responses to energy and environmental policies. Jorgenson uses the model to analyze the impacts of environmental regulations on US economic growth and tax policies for controlling US emissions of carbon dioxide.

http://www.amazon.com/gp/product/0262519232/?tag=2022091-20

Productivity: International Comparisons of Economic Growth (Volume 2)

( These two volumes present empirical studies that have p...)

These two volumes present empirical studies that have permanently altered professional debates over investment and productivity as sources of postwar economic growth in industrialized countries. The distinctive feature of investment is that returns can be internalized by the investor. The most straightforward application of this idea is to investments that create property rights, but these volumes broaden the meaning of capital formation to include investments in education and training. International Comparisons of Economic Growth focuses on comparisons among industrialized countries. Although Germany and Japan are often portrayed as economic adversaries of the US, postwar experiences in all three countries support policies that give high priority to stimulating and rewarding capital formation. In the Asian model of growth exemplified by Japan investments in tangible assets and human capital are especially critical during periods of rapid growth.

http://www.amazon.com/gp/product/0262519208/?tag=2022091-20

Growth, Vol. 2: Energy, the Environment, and Economic Growth

(Volume 1: Econometric General Equilibrium Modeling presen...)

Volume 1: Econometric General Equilibrium Modeling presents an econometric approach to general equilibrium modeling of the impact of economic policies. Earlier approaches were based on the "calibration" of general equilibrium models to a single data point. The obvious disadvantage of calibration is that it requires highly restrictive assumptions about technology and preferences, such as fixed input-output coefficients. These assumptions are contradicted by the massive evidence of energy conservation in response to higher world energy prices, beginning in 1973. The econometric approach to general equilibrium modeling successfully freed economic policy analysis from the straitjacket imposed by calibration. As a consequence of changes in energy prices and new environmental policies, a wealth of historical experience has accumulated over the past two decades. Interpreted within the framework of the neoclassical theory of economic growth, this experience provides essential guidelines for future policy formation. Volume 2: Energy, the Environment, and Economic Growth presents a new econometric general equilibrium model of the United States that captures the dynamic mechanisms underlying growth trends and responses to energy and environmental policies. Jorgenson uses the model to analyze the impacts of environmental regulations on US economic growth and tax policies for controlling US emissions of carbon dioxide.

http://www.amazon.com/gp/product/0262100746/?tag=2022091-20

Econometrics, Vol. 1: Econometric Modeling of Producer Behavior

( The objectives of econometric modeling of producer beha...)

The objectives of econometric modeling of producer behavior are to determine the nature of substitution among inputs and outputs and of differences in technology, as well as the role of economies of scale in production. Recent advances in methodology, based on the dual formulation of the theory of production in terms of prices, have enabled econometricians to achieve these objectives more effectively. This volume summarizes the economic theory, the econometric methodology, and the empirical findings resulting from the new approach.

http://www.amazon.com/gp/product/0262100827/?tag=2022091-20

Tax Reform and the Cost of Capital (The Lindahl Lectures)

(The cost of capital was introduced almost thirty years ag...)

The cost of capital was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behavior. Within the past decade, the cost of capital has assumed a central role in tax reform debates through the closely related concept of the marginal effective tax rate. This book provides a comprehensive treatment of the cost of capital approach to tax policy analysis. Keeping the analytical level of this work has been kept to a minimum, the authors introduce complexities in a step by step fashion, leading up to a representation of tax systems for capital income that is suitable for tax policy analysis. The success of the cost of capital approach is due in large part to its ability to assimilate a virtually unlimited amount of descriptive detail on alternative tax policies. To provide guidance to students and tax policy professionals, this book contains a full implementation of the approach for the United States, including an analysis of the alternative proposals that culminated in the highly influential Tax Reform Act of 1986 in the United States. It also describes opportunities for further research and gives a complete and up-to-date bibliography to the rapidly expanding literature. This is the first in a series of Lectures in Monetary and Fiscal Policy at Uppsala University in honor of Erik Lindahl.

http://www.amazon.com/gp/product/0198285930/?tag=2022091-20

Tax Reform and the Cost of Capital

http://www.amazon.com/gp/product/B0027NRRCC/?tag=2022091-20

Econometric Studies of United States Energy Policy (Data resources series)

http://www.amazon.com/gp/product/0720499011/?tag=2022091-20

Welfare - Vol. 2: Measuring Social Welfare (Volume 2)

( This volume presents an approach to the evaluation of e...)

This volume presents an approach to the evaluation of economic policies through the econometric modeling of aggregate consumer behavior. While the preferences of individual consumers are revealed by their market choices, these preferences can be recovered only by econometric methods, not through the index numbers used in the official statistics. The richer and more robust methodology presented in this volume provides a fruitful point of departure for future policy evaluations.The econometric approach replaces ordinal measures of individual welfare that cannot be compared among individuals with cardinal measures that can. These are combined into an indicator of social welfare that reflects principles of horizontal and vertical equity. This approach unifies the measurement of poverty, inequality, and cost and standard of living. It extends the scope of normative economics to a broader range of issues in the evaluation of economic and social policies.

http://www.amazon.com/gp/product/0262519224/?tag=2022091-20

Welfare, Vol. 1: Aggregate Consumer Behavior

( This volume presents a new approach to econometric mode...)

This volume presents a new approach to econometric modeling of aggregate consumer behavior. The approach has successfully extricated demand modeling from the highly restrictive framework provided for more than half a century by the model of a representative consumer. Like the representative consumer model that preceded it, the new approach rests on the theory of individual behavior. The centerpiece of the volume is an econometric model of demand obtained by aggregating over a population of utility-maximizing consumers.The essential innovation is to incorporate attributes of consumers reflecting heterogeneous preferences into a model of aggregate behavior. Heterogeneity is captured by allowing preferences to depend on the demographic characteristics of households. This model unifies the two principal streams of empirical research on consumer behavior by pooling aggregate time series with cross-section data for individual households and provides a new point of departure for future research.

http://www.amazon.com/gp/product/0262100622/?tag=2022091-20

(Investment: Lifting the Burden - Tax Reform, the Cost of Capital and U.S. Economic Growth v. 3) Author: Dale W. Jorgenson published on (September, 2001)

(This book presents a comprehensive treatment of the cost-...)

This book presents a comprehensive treatment of the cost-of-capital approach for analyzing the economic impact of tax policy. This approach has provided an intellectual impetus for reforms of capital income taxation in the United States and around the world. The cost of capital and the marginal effective tax rate are combined with estimates of substitution possibilities by businesses and households in analyzing tax and spending programs. This makes it possible to evaluate tax reforms and changes in government spending. Studies of the economic impact of tax policies have taken two forms. First, the cost of capital has been incorporated into investment functions in macroeconomic models, which are used to model the short-run responses to tax policy changes. Second, the cost-of-capital approach has been integrated into applied general-equilibrium models used in evaluating the long-run economic effects of tax reforms.The cost-of-capital approach suggests two avenues for tax reform. One would retain the income tax base of the existing U.S. tax system, but would equalize tax burdens on all forms of assets as well as average and marginal tax rates on labor income. The other would substitute consumption for income as a tax base, while equating average and marginal tax rates on labor income.

http://www.amazon.com/gp/product/B0028QFHB6/?tag=2022091-20

(Productivity: Information Technology and the American Growth Resurgence v. 3 ) Author: Dale W. Jorgenson Oct-2005

http://www.amazon.com/gp/product/B010BAH9IE/?tag=2022091-20

Productivity and United States Economic Growth (Contributions to Economic Analysis)

(Between 1948 and 1979, economic activity in the United St...)

Between 1948 and 1979, economic activity in the United States increased almost twice as much as over the entire preceding course of American history. The traditional explanation of this remarkable development emphasizes productivity growth. In the most sophisticated study to date of the factors currently affecting economic growth, the authors of this book show that capital formation is far more important, with the growth of labor resources and productivity a distant second. Their conclusions rest on a far more detailed empirical base than any ever assembled in studies of economic growth. For example, the authors distinguish among 81,600 types of labor input - broken down by age, sex, education, occupation, and industry of employment. Similarly, they disaggregate capital by industry, class of asset, and tax treatment. Their analysis of economic growth is from the ''bottom up'' rather than the ''top down'' approach used in earlier work. The new findings imply that efforts to revive U.S. economic growth must focus on increased supplies of capital and labor inputs. This is the key to more rapid growth and international competition.

http://www.amazon.com/gp/product/0444703535/?tag=2022091-20