n this paper we argue that very high marginal labor income tax rates are an effective tool for social insurance even when households have preferences with high labor supply elasticity, make dynamic savings decisions, and policies have general equilibrium effects. To make this point we construct...

"The past three decades witnessed rapid and profound change in the investments industry as well as a financial crisis of historic magnitude. The vast expansion of financial markets during this period was due in part to innovations in securitization and credit enhancement that gave birth to new...

"The book also makes extensive use of labor market statistics and reports evidence obtained from hundreds of research studies. These data summarize the stylized facts that a good theory of the labor market should be able to explain, as well as help shape our thinking about the way the labor...