Reforms, Finance, and Current Accounts

Hospital Accounts and Finance

Reforming Reforms: Incentive Effects in Education Finance in Vermont

Towards a Theory of Current Accounts

The current accounts data of industrial countries exhibits some strong patterns that are inconsistent with the intertemporal approach to the current account. This is the basic model that international economists have been using for more than two decades to think about current account issues. This paper shows that it is possible to go a long way towards reconciling the theory and the data by int...

Growth, Finance, and Welfare Effects of Anticipated Tax Reforms and Temporary Tax Cuts

Macroeconomic analysis of tax reform in dynamic general equilibrium usually assumes that reforms hit the economy unexpectedly and last forever. Here, we explore how previous results change when we allow tax reforms to be pre-announced and of finite duration and these facts are anticipated by households and firms. Interestingly, we find that the welfare gain of the representative consumer change...

The Effects of School Spending on Educational and Economic Outcomes: Evidence from School Finance Reforms

Since the Coleman Report, many have questioned whether public school spending affects student outcomes. The school finance reforms that began in the early 1970s and accelerated in the 1980s caused dramatic changes to the structure of K–12 education spending in the United States. To study the effect of these school finance reform–induced changes in public school spending on long-run adult outcom...