Kevin A. Hassett

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Transition Costs of Fundamental Tax Reform

Kevin A. Hassett; R. Glenn Hubbard; American Enterprise Institute for Public Policy Research

Synopsis:
Transition costs surround debates over fundamental tax reform. Calculations of transition costs have typically followed the setup pioneered by Alan Auerbach and Larry Kotlikoff, deriving the impact of tax reforms on asset prices and behavior from a dynamic model with many generations of economic agents. In this volume, the authors extend that framework in many directions, the most important of which is the attempt wherever possible to confront issues with hard data. The authors focus on the most critical transition issues from the political perspective. What will happen to the wealth of America's taxpayers if we switch to a flat tax or a consumption tax? In particular, what will happen to the stock market and to the value of people's homes?

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Other editions: Softcover - 2005, Softcover - 2001, Hardcover - 1999, Softcover - 1999