We examine horizontal mergers amongst Part D insurers with the aim of decomposing market power, cost efficiency, and bargaining power effects. We apply a differences-in-differences identification strategy to panel data on plans offered between 2006 and 2012 to analyze the effects of mergers on...

This analysis examines the arguments for and against the federal estate tax and concludes that the estate tax generates costs to taxpayers, the economy, and the environment that far exceed any potential benefits that it might arguably produce. This paper updates a previous Joint Economic...

The federal government has taxed intergenerational wealth transfers since 1916 through the federal estate, gift and generation-skipping taxes. This analysis examines the arguments for and against the federal estate tax and concludes that the estate tax generates costs to taxpayers, the economy...