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| List of Tables List of Figures Preface 1 Introduction 2 Taxation of Income from Capital 2.1 Cost of Capital 2.2 Capital as a Factor of Production 2.3 Rates of Return 2.4 Capital Income Taxation 2.5 Households 2.6 Noncorporate Business 2.7 Corporate Business 2.8 Alternative Approaches 3 U.S. Tax System 3.1 Tax Rates 3.2 Distribution of Assets 3.3 Vintage Price Functions 3.4 Capital Cost Recovery 3.5 Financial Structure 3.6 Alternative Approaches Appendix 4 Effective Tax Rates 4.1 Economic Impact of U.S. Tax Law 4.2 Effective Tax Rates 4.3 Differences in Effective Tax Rates 4.4 Alternative Approaches 5 Dynamic General Equilibrium Model 5.1 Commodities 5.2 Producer Behavior 5.3 Consumer Behavior 5.4 Government and Rest of the World 5.5 Market Equilibrium 6 Estimating the Parameters 6.1 Consumer Behavior 6.2 Producer Behavior 6.3 Elasticities 6.4 Other Parameters Appendix 7 Economic Impact of Tax Reform 7.1 Perfect Foresight Dynamics 7.2 Comparison of Welfare Levels 7.3 Computational Algorithm 7.4 Welfare Effects of Tax Reform 7.5 Efficiency Costs of Taxation 7.6 Efficiency Costs under the 1996 Tax Law 7.7 Alternative Approaches Appendix 8 Fundamental Tax Reform 8.1 Tax Reform Proposals 8.2 Modeling the Tax Reform Proposals 8.3 Welfare Impacts of Fundamental Tax Reform 8.4 Equivalence of Consumption and Labor Income Taxes 8.5 Efficiency Costs of Taxation 8.6 Alternative Approaches Appendix 9 Marginal Cost of Public Spending 9.1 Determinants of the MCS 9.2 Dynamic General Equilibrium Model 9.3 Estimation of the MCS 9.4 MCS under the 1996 Tax Law 9.5 MCS under Fundamental Tax Reform 9.6 Welfare Impact of the End of the Cold War 9.7 Alternative Approaches References Index |
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