This paper defines a set of indicators for distinguishing housing affordability problems resulting from high rents from those chiefly arising from low income. In place of the common ratio of rent to income, it uses a residual income indicator with indicators of over-consumption and over-paying...

This paper analyzes intersectoral and intertemporal efficiency effects of the Tax Reform Act of 1986 using a general equilibrium model that considers impacts of taxes on the allocation of capital across industries, assets, sectors, and time. The model pays close attention to capital adjustment...