Foundations of supply-side economics: Theory and evidence (Economic theory, econometrics, and mathematical economics)

Foundations of Supply-Side Economics: Theory and Evidence is composed of a series of papers containing both theoretical and empirical analyses of a set of issues in government fiscal policy. The type of analysis employed in the book is standard neoclassical economics, and this analysis is used to study the macroeconomic incentive effects of taxation. The book contains contributions that cover the analysis of the effects of taxes imposed purely for generating revenues; the process of capital formation; and an attempt to integrate supply-side analysis into a traditional macroeconomic framework. Reports on the empirical evidence on taxation and economic activity and the estimation of a small macroeconomic model of the United States for the postwar period; description of a method of calculating effective marginal tax rates on factor incomes using available U.S. data; and the estimation of the effect of fiscal policy on private investment in plant and equipment are presented as well. Economists will find the book highly insightful. Content: Front Matter, Page iii Copyright, Page iv Preface, Pages ix-xiii Introduction, Pages xv-xvi CHAPTER 1 - Tax Rates, Factor Employment, Market Production, and Welfare, Pages 1-24 CHAPTER 2 - Taxation in a Closed Economy Intertemporal Model with a Variable Supply of Labor to the Market Sector, Pages 25-44 CHAPTER 3 - A Neoclassical Model of Fiscal Policy, Employment, and Capital Accumulation, Pages 45-71 CHAPTER 4 - The Revenue Effects of the Kennedy Tax Cuts, Pages 72-103 CHAPTER 5 - Fiscal Policy and the Labor Market, Pages 104-123 CHAPTER 6 - Estimates of Effective Marginal Tax Rates on Factor Incomes, Pages 124-163 CHAPTER 7 - Government Fiscal Policy and Private Capital Formation—Some Aggregate Time-Series Estimates, Pages 164-206 CHAPTER 8 - What Does a Tax Cut Do?, Pages 207-223 CHAPTER 9 - Persistent Growth Rate Differentials among States in a National Economy with Factor Mobility, Pages 224-255 CHAPTER 10 - The Missing Equation: The Wedge Model Alternative, Pages 256-275 Index, Pages 277-283 Victor A. Canto, Douglas H. Joines, Arthur B. Laffer ; With Contributions By Paul Evans, Marc A. Miles, Robert I. Webb. Includes Bibliographies And Index.