A significant amount of non-compliance with the personal income tax is due to individuals who have not filed a tax return and so who are not “in the system”. We use experimental laboratory methods to examine the effect of positive inducements for filing a tax return. Our design captures the essential features of a voluntary income reporting and tax assessment system: human participants earn inc...

The present paper gives an overview of the theory of green national accounting. Three purposes of green national accounting (measurement of welfare equivalent income, sustainable income, or net social profit) and two measures (Green NNP and wealth equivalent income) are considered. Under the assumption of no exogenous technological progress, Green NNP is shown to equal wealth equivalent income ...

On January 1, 2000, Medicare extended the coverage of immunosuppression medications from 3 years to life for elderly and disabled kidney transplant recipients. This research estimates the impact of extending this lifetime coverage to all kidney transplant recipients on Medicare's cash flows. The study finds that extending coverage to all kidney transplant recipients would have increased Medicar...

In this paper, we use the definition of residual income to develop a framework that decomposes changes in net income into different components. The two components we focus on are the change in net income driven by investment (investment-driven growth), and the change in net income driven by improvements in the productivity of existing assets (productivity-driven growth). Building on the vast li...

This discussion paper presents a microsimulation model of household distress. We use logit analysis to estimate the extent to which a household’s risk of being financially distressed depends on net income after tax and loan servicing costs. The impact of assumed macroeconomic shocks on this net income concept is calculated at the household level. The microsimulation model is used to simulate bo...

Having a sense of purpose in life appears valuable across life domains, though it remains unclear whether purpose also provides financial value to individuals. The current study examined sense of purpose as a predictor of concurrent and longitudinal income and net worth levels, using two waves of the MIDUS sample of adults (N = 4660 across both assessments). Participants who reported a higher s...

This paper examines the Department of Energy’s (DOE) reliance on low discount rates to estimate the benefits of its energy efficiency standards and uses existing literature on implicit consumer discount rates to calculate a range of benefits for DOE’s furnace fan rule. While DOE calculates large net benefits from its energy efficiency rule, using discount rates that better represent average con...

Objective. To compare the net cumulative income of community pharmacists, hospital pharmacists, and full-time pharmacy faculty members (residency-trained or with a PhD after obtaining a PharmD) in pharmacy practice, medicinal chemistry, pharmaceutics, pharmacology, and social and administrative sciences. Methods. Markov modeling was conducted to calculate net projected cumulative earnings of ca...