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December 10, 2014

Spring 2015

ECONOMICS 1410 / KENNEDY SCHOOL SUP-125


Public Economics: Designing Government Policy
Professors Martin Feldstein, Raj Chetty and Mihir Desai

Teaching Fellow: Gregory Bruich

Course Description: This course analyzes what role the government plays and should play in a
market economy, especially those policies that work through taxes and government spending. It
covers topics such as tax and welfare policy, unemployment insurance, environmental protection,
education policy, social security, and the implications of behavioral economics for public policy.
The course emphasizes recent empirical and theoretical research on policy issues and will teach
students how to conduct such studies.

The first half of the course, taught by Professor Feldstein, will cover the basic principles of public
economics. These principles will be used to shed light on current questions and debates on tax
policy. Professor Desai will give lectures on corporate tax policy and international taxation. The
second half of the course, taught by Professor Chetty, will discuss recent research papers that extend
some of the traditional principles and point toward new theories. This part of the course will also
teach students current econometric and theoretical methods used in applied microeconomics.

Prerequisites: Economics 1010a or 1011a or permission of the instructors. Familiarity with


multivariate calculus and econometrics (at the level of economics 1123 or 1126) is desirable.

Course Mechanics:
1) Lectures Two lectures per week. MW(F) 2:00 to 3:30 in Sever 103.
2) Sections One per week. Room and time TBA.
3) Readings Jonathan Gruber, Public Finance and Public Policy (3rd edition), is the optional but
recommended textbook. Other required readings are listed below.
4) Assignments will be posted on the course website, which should be checked regularly:
http://isites.harvard.edu/icb/icb.do?keyword=k104811

Grading: Grades will be based on a midterm exam (30 percent), final exam (50 percent), and
problem sets (20 percent). Senior thesis and masters thesis writers may choose to omit the
midterm and have their grade based on the final exam (75 percent) and problem sets (25 percent).
Because you will have two weeks to complete each problem set and in order to allow the solutions
to be posted quickly on the course webpage, late problem sets will not be accepted.

Term Paper Option: Students may write a term paper that contains original research on a topic in
public economics. The term paper satisfies the Economics Departments writing requirement for
economics concentrators. See below for more details on this option.

Academic accommodations: Students needing academic accommodations because of a


documented disability must present their Faculty Letter from the Accessible Education Office
(AEO) by Monday, February 9.

Collaboration: Discussion and the exchange of ideas are essential to academic work. You are
encouraged to consult with your classmates on the choice of paper topics and to share sources. You
may find it useful to discuss your chosen topic with your peers, particularly if you are working on
the same topic as a classmate. However, you should ensure that any written work you submit for
evaluation is the result of your own research and writing and that it reflects your own approach to
the topic. You must also adhere to standard citation practices in this discipline and properly cite any
books, articles, websites, lectures, etc. that have helped you with your work. If you received any
help with your writing (e.g., feedback on drafts), you must also acknowledge this assistance.

No collaboration of any kind is allowed during exams. On problem sets, you may consult with your
classmates and the teaching staff. However, you must write up your own solutions in your own
words based on your own understanding.

Frequently asked questions:

1. Textbook. You are welcome to buy any edition of the textbook. The textbook provides
useful background material but the lectures do not follow any book. Therefore, attending
class is critical. The textbook would be an especially useful resource for students interested
in writing a senior honors thesis or term paper on a policy related topic.

2. Grading option. The course must be taken for a letter grade. However, you are welcome to
sit in on the lectures if you choose not to take the class for credit.

3. Adding the course late. The last day to add the course without a fee is February 9. You may
add the course until this date, but only if you have attended the lectures and kept up with the
readings. Borrowing notes from others is not sufficient. Therefore, if you think that you
may want to take the course for credit, you should attend class and complete the coursework
on-time (e.g., readings, problem sets, term paper proposals), as if you are enrolled in the
course. We may ask to see your class notes before signing your add form.

4. Cross-registration and website access. The course is open to students from other faculties
and from MIT. In order to view the files on the course website, students enrolled in the
course will need to log-in with a Harvard University ID and pin. Students enrolled through
the Kennedy School course or who otherwise do not have a HUID can sign up for a XID at:

https://xid.harvard.edu/xid-apps/displaySSCreateForm.do

5. Course meetings. The course meets on Monday and Wednesday most weeks. Some weeks
we will also meet on Friday, as noted in the outline of the lecture schedule on the following
pages. In the event of lectures needing to be rescheduled during the term, additional Friday
meetings may need to be added and will be announced in class in advance.

6. Attendance. Students who are enrolled in the course for credit are responsible for all
material covered and any course announcements made in lecture and section. You should
December 10, 2014
only enroll in the class for credit if you can attend class regularly. Students who have had to
miss more than one or two lectures in the past have had difficulty on problem sets and
exams and have not done well in the course.

7. Other readings. Academic journal articles listed on the reading list below will be distributed
electronically for your convenience. Please see the course website for details on the
procedure that we will use. All articles should also be available to Harvard College students
for free by searching for the title in Google Scholar:

http://scholar.google.com.ezp-prod1.hul.harvard.edu/schhp?inst=harvard.edu

or as working papers through the National Bureau of Economic Research website:

http://www.nber.org.ezp-prod1.hul.harvard.edu/

8. Exams. The midterm exam will be held in class on March 11. You should only enroll in the
class for credit if you can be in attendance to take the midterm on this date. The date, time,
and location of the final exam will be assigned by the registrars office and will be posted
sometime in March by the registrar at the following webpage:

http://www.registrar.fas.harvard.edu/courses-exams/exam-schedule

No notes or books are allowed during either exam. You may use a calculator.

Term paper option

Students writing a term paper will have modified assignments. The term paper along with a term
paper proposal and modified versions of problem set 1 and 2 will together count for 20 percent of
the grade. The term paper proposal and modified problem set 1 are due on 2/15. The modified
problem set 2 is due on 4/22. The completed term paper is due 3 days before the final exam.

Most term papers use Stata, which is available for download at: https://downloads.fas.harvard.edu/

Papers from previous years include the following.

1. The effect of the Bush tax cuts on the spread between tax-exempt and taxable securities
(using data on yields from Baker Library at HBS)
2. Using asset prices to measure the general equilibrium incidence of supreme court rulings on
producers of GMO foods (using Famma-French and CRSP data from the WRDS database)
3. The effect of professional sports franchises and stadiums on employment and local
economic growth
4. The effect of top marginal tax rates on executive compensation (using ExecuComp data
from the WRDS database)
5. Gender inequality and intergenerational mobility (using female-male wage gaps constructed
from the CPS and intergenerational mobility data from the Equality of Opportunity project)
ECONOMICS 1410: LECTURE DATES

1. Monday, January 26 Feldstein Introduction; Labor Supply, Taxable Income, and


Deadweight Losses 1
2. Wednesday, January 28 Feldstein Labor Supply, Taxable Income, and Deadweight Losses 2
3. Friday, January 30 Bruich Micro/DWL; Discuss optional term paper assignment

4. Monday, February 2 Feldstein Labor Supply, Taxable Income, and Deadweight Losses 3
5. Wednesday, February 4 Feldstein Distribution and Fairness 1
Friday, February 6

6. Monday, February 9 Feldstein Distribution and Fairness 2 [AEO letters due]


7. Wednesday, February 11 Feldstein Taxes and Savings 1 [PS1 assigned]
Friday, February 13

Monday, February 16 No Class Presidents Day


8. Wednesday, February 18 Feldstein Taxes and Savings 2
9. Friday, February 20 Feldstein Taxes and Risk Taking

10. Monday, February 23 Feldstein Reform of the Personal Income Tax 1


11. Wednesday, February 25 Feldstein Reform of the Personal Income Tax 2 [PS1 due]
Friday, February 27

12. Monday, March 2 Feldstein Budget Deficits and Fiscal Policy


13. Wednesday, March 4 Feldstein Social Security 1
14. Friday, March 6 Bruich Review

15. Monday, March 9 Feldstein Social Security 2


16. Wednesday, March 11 Midterm exam
Friday, March 13

March 14-22 Spring Break

Monday, March 23
17. Wednesday, March 25 Chetty Taxation 1
18. Friday, March 27 Chetty Taxation 2

19. Monday, March 30 Chetty Taxation 3


20. Wednesday, April 1 Chetty Social Insurance 1
Friday, April 3

21. Monday, April 6 Chetty Social Insurance 2


22. Wednesday, April 8 No class Senior honors exam 3-6pm [PS 2 assigned]
Friday, April 10
December 10, 2014
23. Monday, April 13 Chetty Social Insurance 3
Wednesday, April 15
Friday, April 17

24. Monday, April 20 Desai Corporate Taxation


25. Wednesday, April 22 Desai International Taxation [PS 2 due]
26. Friday, April 24 Chetty Externalities

27. Monday, April 27 Chetty Public Goods


28. Wednesday, April 29 Chetty Education
ECONOMICS 1410: READINGS

Labor Supply, Taxable Income, and Deadweight Losses Feldstein

[Optional background reading] Gruber, chapter 21

Martin Feldstein, Effects of Taxes on Economic Behavior, National Tax Journal, March
2008.

Martin Feldstein, The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of
the 1986 Tax Reform Act, Journal of Political Economy, 1995, 551-572.

Martin Feldstein, Tax Avoidance and the Deadweight Loss of the Income Tax, Review of
Economics and Statistics, November 1999.

Martin Feldstein, How Big Should Government Be? National Tax Journal, June 1997,
197-213.

Distributional Effects of Taxes; Fairness Issues Feldstein

[Optional background reading] Gruber Chapter 19

Congressional Budget Office, The Distribution of Federal Spending and Taxes in 2006,
Washington, D.C: Congressional Budget Office, November 2013.

Congressional Budget Office, Historical Effective Federal Tax Rates: 1979 to 2004,
Washington, D.C: Congressional Budget Office, 2005.

Lawrence Summers, Some Simple Economics of Mandated Benefits, American Economic


Review, May 1989, 177-183.

Martin Feldstein, Reducing Poverty, Not Inequality, The Public Interest, No. 137, Fall
1999, pp 33-41. (available at http://www.nber.org/feldstein/pi99.html)

Taxes and Savings Feldstein

[Optional background reading] Gruber, Chapter 22

Martin Feldstein, The Welfare Cost of Capital Income Taxation, Journal of Political
Economy, 1978

Martin Feldstein, The Effects of Taxes on Efficiency and Growth, Tax Notes, May 8,
2006. (available at http://www.nber.org/feldstein/taxanalysis.pdf)

James M. Poterba, Steven F. Venti and David A. Wise, How Retirement Savings Programs
Increase Saving, Journal of Economic Perspectives 10(4), Fall 1996, 91-112.
December 10, 2014

Eric M. Engen, William G. Gale, and John Karl Scholz, The Illusory Effects of Savings
Incentives, Journal of Economic Perspectives 10(4), Fall 1996, 113-138.

Taxation and Risk-Taking Feldstein

[Optional background reading] Gruber, Chapter 23

Alan J. Auerbach, Capital Gains Taxation in the United States: Realizations, Revenue and
Rhetoric, Brookings Papers on Economic Activity 1988:2, 595-631.

James M. Poterba, Venture Capital and Capital Gains Taxation in Tax Policy and the
Economy, Volume 3, Cambridge, MIT Press, 1989.

Tax Reform Feldstein

[Optional background reading] Gruber, Chapters 18, 25

Martin Feldstein, Tax Reform: Evidence of 1986, Wall Street Journal October 14, 2011.

Pro-growth Tax Policy, Chapter 3 of Economic Report of the President, 2007.

(Optional) The Presidents Economic Recovery Advisory Board, The Report on Tax
Reform Options, August 2010, 3-64. (available at
http://www.whitehouse.gov/sites/default/files/microsites/PERAB_Tax_Reform_Report.pdf)

Martin Feldstein, The Tax Expenditure Solution for our National Debt, Wall Street
Journal, July 20, 2010. (available at www.nber.org/feldstein/wsj07202010.pdf)

N. Gregory Mankiw, Matthew Weinzierl, and Danny Yagan, Optimal Taxation in Theory
and Practice, Journal of Economic Perspectives, Fall 2009, 23(4), 147-74.

Martin Feldstein, Daniel Feenberg and Maya Macguieas Capping Individual Tax
Expenditure Benefits, Tax Notes, May 2, 2011. (available at
http://www.nber.org/feldstein/TAXNOTES-may2011.pdf)

Budget Deficits and Fiscal Policy Feldstein

Martin Feldstein, How to create a real economic stimulus, Wall Street Journal September
17, 2013.

Martin Feldstein, Rethinking the Role of Fiscal Policy, American Economic Review 99(2):
55659, May 2009.

Martin Feldstein, Preventing a National Debt Explosion, in Tax Policy and the Economy,
25(1): 109-144, September 2011.

Martin Feldstein, An $800 billion mistake, The Washington Post, January 29, 2009.
(available at http://www.nber.org/feldstein/washingtonpost_012909.pdf)

[Optional] Martin Feldstein, Dealing with our Federal Deficit, Unpublished remarks
(available at www.nber.org/feldstein/siepr-3R.pdf).

Social Security Feldstein

[Optional background reading] Gruber, Chapter 12, 13

Martin Feldstein, Seven Principles of Social Insurance, Challenge, November/ December


1976, 6-11.

Martin Feldstein, Rethinking Social Insurance, American Economic Review, March 2005,
pp 1-24.

Martin Feldstein and Andrew Samwick, Social Security Rules and Marginal Tax Rates
National Tax Journal 45(1): 1-22, March 1992.

Martin Feldstein, Structural Reform of Social Security, Journal of Economic Perspectives,


Spring 2005, pp 33-55.

Jonathan Gruber and David Wise, Social Security Programs and Retirement Around the
World, in J. Gruber and D. Wise, eds., Social Security and Retirement Around the World,
Chicago: University of Chicago Press, 1999.

Lawrence Kotlikoff, Privatization of Social Security: How It Works and Why It Matters,
Tax Policy and the Economy, 1997, pp 1- 32.

Martin Feldstein and Jeffrey Liebman, The Distributional Effects of an Investment Based
Social Security System, in Martin Feldstein and Jeffrey Liebman, eds., The Distributional
Aspects of Social Security and Social Security Reform, Chicago: University of Chicago
Press, 2002, 263-326.

Report of the Presidents Commission to Strengthen Social Security, 2001 (pages to be


distributed in class).

Martin Feldstein, Prefunding Medicare, American Economic Review, May 1999, 222-227.

Midterm: March 11 (same place and time as class)


Spring Break March 14-22

Taxation: Recent Evidence and Theory Chetty


December 10, 2014
Methodology

F. J. Anscombe, Graphs in Statistical Analysis, The American Statistician, Vol. 27, No. 1.
(Feb., 1973), pp. 17-21

D. Cutler, Tax Reform and the Stock Market: An Asset Price Approach, American
Economic Review, 78(5), December 1988, 1107-1117, esp. Sections I-III.

L. Linden and J. Rockoff, There Goes the Neighborhood? Estimates of the Impact of Crime
Risk on Property Values from Megans Laws, American Economic Review 98(3): 1103-
1127, 2008.

Commodity Taxation

[Optional background reading] Gruber, Chapters 18, 19 & 20

J. Doyle and K. Samphantharak. $2.00 Gas! Studying the Effects of a Gas Tax
Moratorium. Journal of Public Economics, April 2008.

J. Hastings and E. Washington. 2010. The First of the Month Effect: Consumer Behavior
and Store Responses. American Economic Journal: Economic Policy, 2(2): 14262.

R. Chetty, A. Looney, and K. Kroft, Salience and Taxation: Theory and Evidence,
American Economic Review, 2009.

J. Marion and E. Muehlegger. Measuring Illegal Activity and the Effects of Regulatory
Innovation: Tax Evasion and the Dyeing of Untaxed Diesel, Journal of Political Economy
116:4, 633-666, August 2008.

J. Poterba, Taxation and Housing: Old Questions, New Answers, American Economic
Review 82(2): 237-242, May 1992.

Income Taxation

[Optional background reading] Gruber, Chapters 17, 21

M. Feldstein, The Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the
1986 Tax Reform Act, Journal of Political Economy, 103 (1995), 551-572.

R. Chetty, E. Saez, and J. Friedman, Using Differences in Knowledge Across


Neighborhoods to Uncover the Impacts of the EITC on Earnings American Economic
Review, 103(7): 2683-2721, 2013.

R. Chetty and E. Saez, Dividend Taxes and Corporate Behavior: Evidence from the 2003
Dividend Tax Cut, Quarterly Journal of Economics, August 2005.
R. Chetty and E. Saez, Dividend and Corporate Taxation in an Agency Model of the Firm
American Economic Journal: Economic Policy 2(3): 1-31, 2010.

Social Insurance 3 Lectures Chetty

Overview

[Optional background reading] Gruber, Chapter 12

Feldstein, M., Seven Principles of Social Insurance, Challenge, Nov. 1976, p. 6-11.

Unemployment Insurance

[Optional background reading] Gruber, Chapter 14

R. Chetty, A General Formula for the Optimal Level of Social Insurance, Journal of
Public Economics 90, 2006, 1879-1901.

Gruber, Jonathan, The Consumption Smoothing Benefits of Unemployment Insurance,


American Economic Review 87 (1997), 192-205.

Feldstein, Martin and Daniel Altman, Unemployment Insurance Savings Accounts, in Tax
Policy and the Economy, Volume 21 (2007), MIT Press.

Meyer, Bruce D., Unemployment Insurance and Unemployment Spells, Econometrica,


Volume 58, Issue 4 (Jul., 1990), 757-782.

Card, David, Raj Chetty, and Andrea Weber, Cash-on-Hand and Competing Models of
Intertemporal Behavior: New Evidence from the Labor Market, Quarterly Journal of
Economics, 122(4), 2007, 1511-1560.

Card, David, Raj Chetty, and Andrea Weber, The Spike at Benefit Exhaustion: Leaving the
Unemployment System or Finding a Job? American Economic Review Papers and
Proceedings, 2007.

Workers Compensation

[Optional background reading] Gruber, Chapter 14

D. Card and B. McCall, Is Workers Compensation Covering Uninsured Medical Costs?


Evidence from the Monday Effect, Industrial and Labor Relations Review 49(4), pages
690-706, 1996.

Meyer, Bruce D., W. Kip Viscusi and David Durbin. Workers Compensation and Injury
Duration: Evidence from a Natural Experiment, American Economic Review 85 (1995),
322-340.
December 10, 2014

Summers, L., Some Simple Economics of Mandated Benefits, American Economic


Review, May 1989, p. 177-183.

Disability Insurance

[Optional background reading] Gruber, Chapter 14

J. Bound, The Health and Earnings of Rejected Disability Insurance Applicants, American
Economic Review 79 (1989), 482-503.

J. Gruber, Disability Insurance Benefits and Labor Supply, Journal of Political Economy,
108 (2000), 1162-1183.

Autor, D. and M. G. Duggan, The Rise in the Disability Rolls and the Decline in
Unemployment, Quarterly Journal of Economics, 118 (1): 157-205, 2003.

Maestas, Nicole, Kathleen J. Mullen, and Alexander Strand. 2013. Does Disability
Insurance Receipt Discourage Work? Using Examiner Assignment to Estimate Causal
Effects of SSDI Receipt. American Economic Review, 103(5): 1797-1829.

Health Insurance

[Optional background reading] Gruber, Chapters 15 & 16

A. Finkelstein, S. Taubman, B. Wright, M. Bernstein, J. Gruber, J.P. Newhouse, H. Allen, K.


Baicker, and the Oregon Health Study Group, The Oregon Health Insurance Experiment:
Evidence from the First Year, Quarterly Journal of Economics, 127(3): 1057-1106, August
2012.

Congressional Budget Office, Federal Health Care spending: Why is it growing? What can
be done about it? November 2013.

M. Feldstein, Obamacares Fatal Flaw Project Syndicate, October 29, 2013.

Externalities and Public Goods Chetty

Externalities: Theory and Evidence

[Optional background reading] Gruber, Chapters 5 & 6

K. Chay and M. Greenstone. Does Air Quality Matter? Evidence from the Housing
Market, Journal of Political Economy, 113(2): 376-424, April 2005.

A. Edlin and P. Karaca-Mandic, The Accident Externality from Driving, Journal of


Political Economy, 114(5): 2006.
Becker, Gary, and Kevin Murphy, A Theory of Rational Addiction, Journal of Political
Economy 96(4): 675-700, 1988.

Bernheim, B. Douglas, and Antonio Rangel, Addiction and Cue-Triggered Decision


Processes, American Economic Review 94(5): 1558-90, 2004.

Gruber, Jonathan and Botond Koszegi, Is Addiction Rational? Theory and Evidence,
Quarterly Journal of Economics 116(4), 1261-1303, 2001.

Public Goods: Theory and Evidence

[Optional background reading] Gruber, Chapters 7-10

D. Hungerman Are Church and State Substitutes? Evidence from the 1996 Welfare
Reform, Journal of Public Economics 89 (2005), 2245-2267.

J. Andreoni and A. Payne, Do Government Grants to Private Charities Crowd Out Giving
or Fundraising? American Economic Review, 93(3), June 2003, 792-812.

R. Chetty, E. Saez, and L. Sandor, What Policies Motivate Pro-Social Behavior? An


Experiment with Referees at the Journal of Public Economics, Journal of Economic
Perspectives 28(3): 169-88, 2014.

Selected Issues in Education Policy

L. Lochner and E. Moretti, The Effect of Education on Criminal Activity: Evidence from
Prison Inmates, Arrests and Self-Reports American Economic Review, vol. 94(1), 2004.

K. Milligan, E. Moretti, and P. Oreopoulos, Does education improve citizenship? Evidence


from the United States and the United Kingdom, Journal of Public Economics, 88(9-10),
August 2004, 1667-1695.

R. Jensen. The (Perceived) Returns to Education and the Demand for Schooling,
Quarterly Journal of Economics 125(2): 515-548, 2010.

E. Duflo, Child Health and Household Resources in South Africa: Evidence from The Old
Age Pension Program, American Economic Review, 90(2): 393-398, May 2000.

S. Dynarski, Does Aid Matter? Measuring the Effect of Student Aid on College Attendance
and Completion American Economic Review, 93(1): 279-288, March 2003.

E. Hanushek, Teacher Deselection in Creating a New Teaching Profession, ed. Dan


Goldhaber and Jane Hannaway, 165-80. Washington, DC: Urban Institute Press, 2009.

R. Chetty, J.N. Friedman, N. Hilger, E. Saez, D. Schanzenbach, D. Yagan. How Does Your
December 10, 2014
Kindergarten Classroom Affect Your Earnings? Evidence from Project STAR Quarterly
Journal of Economics 126(4): 1593-1660, 2011.

R. Chetty, J.N. Friedman, J.E. Rockoff, Measuring the Impact of Teachers I: Evaluating
Bias in Teacher Value-Added Estimates, American Economic Review 104(9): 2593-2632,
2014.

R. Chetty, J.N. Friedman, J.E. Rockoff, Measuring the Impact of Teachers II: Teacher
Value-Added and Student Outcomes in Adulthood, American Economic Review 104(9):
2633-2679, 2014.

R. Chetty, N. Hendren, P. Kline, E. Saez, Where is the Land of Opportunity? The


Geography of Intergenerational Mobility in the United States NBER Working Paper
Number 19843, May 2014.

Corporate Taxation and International Taxation Desai

[Optional background reading] Gruber, Chapter 24

Martin Feldstein, Bringing It Back Home, Project Syndicate, August 27, 2014.

Walsh, Colleen, Getting a handle on inversion: A Q&A with Mihir Desai, Harvard
Gazette on August 14, 2014.

Mihir A. Desai, Securing Jobs or the New Protectionism? Taxing the Overseas Activities of
Multinational Firms Harvard Business School Working Paper 09-107, 2009.

Desai, Mihir A., C. Fritz Foley, and James R. Hines Jr. Domestic Effects of the Foreign
Activities of U.S. Multinationals. American Economic Journal: Economic Policy 1, no. 1
(February 2009): 181203.

Austan Goolsbee, Investment Tax Incentives, Prices, and the Supply of Capital Goods,
Quarterly Journal of Economics (1998) 113 (1): 121-148

Jane Gravelle, The Corporate Income Tax: Economic Issues and Policy Options, in Joel
Slemrod, ed., Tax Policy in the Real World, New York: Cambridge University Press, 1999.

James R. Hines, Taxation and the Activities of Multinational Corporations, in Alan


Auerbach, ed., Fiscal Policy: Lessons from Economic Research, Cambridge, MIT Press,
1998.

James M. Poterba, Why Didnt the Tax Reform Act of 1986 Raise Corporate Taxes? in
Tax Policy and the Economy, Volume 6, Cambridge, MIT Press, 1992.

Mihir A. Desai, The Divergence between Book Income and Tax Income, in Tax Policy
and the Economy 17 (2003), 169-206.
Mihir A. Desai, Devesh Kapur and John McHale, Sharing the Spoils: Taxing International
Human Capital Flows, International Tax and Public Finance, September 2004, 663-693.

The Presidents Economic Recovery Advisory Board, Report on Tax Reform Options,
August 2010, 69-94. (available at
http://www.whitehouse.gov/sites/default/files/microsites/PERAB_Tax_Reform_Report.pdf)

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