A comparison of a simple two-bracket income tax code with an approximation to traditional structures that entail steeply rising marginal tax rates, showing that the simpler rate structures are not necessarily more efficient than alternatives with many, highly progressive brackets.

An argument that raising federal revenues through suspending indexation of the personal income-tax code is inefficient in that it is inferior to direct increases in marginal tax rates.

A comparison of U.S. saving rates with those of 15 OECD countries, finding that saving is generally higher in countries that do not subsidize borrowing through interest deductibility.

A summary of the fifth in a series of symposiums sponsored by the Federal Reserve Bank of Cleveland. The September 1994 meeting was dedicated to monetary policy issues and included examinations of the macroeconomic effects of price rigidity and sluggish savings decisions by households, the...

An argument that attempting to alleviate the burden of unemployment on the less affluent through expansionary monetary policy may hurt the clientele it is supposed to serve if, ultimately, the policy leads to higher long-run rates of inflation.