We synthesize the literature on the recent rise of populism. First, we discuss definitions and
present descriptive evidence on the recent increase in support for populists. Second, we …

This lecture focuses on the costs of public debt when safe interest rates are low. I develop
four main arguments. First, I show that the current US situation, in which safe interest rates …

The Tax Cuts and Jobs Act of 2017 (TCJA) instituted the most substantial changes in
taxation in decades and was designed to boost the economy via supply-side incentives. This …

Abstract The Tax Cuts and Jobs Act (TCJA) of 2017 introduced sweeping changes to
individual and corporate taxation. We summarize the major provisions, trace the origins of …

This paper studies the effects of an historically large federal corporate income tax cut on US
firms and workers, leveraging quasi-experimental policy variation from the 2017 law known …

We use a cost-of-capital framework to analyze the long-run steady state and transition path
for GDP as a result of the 2017 tax law. We predict that, for the law as written, the long-run …

This paper examines the Tax Cuts and Jobs Act (TCJA) of 2017, the largest tax overhaul
since 1986. The new tax law makes substantial changes to the rates and bases of both the …

There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated US
private fixed investment. Some argue that the business tax provisions spurred investment by …

This paper studies the political prospects for reform in a model where the tax base and
statutory rate are separate instruments of tax policy. The model suggests that large changes …

This paper extends a standard general equilibrium framework with a corporate tax code
featuring two key elements: tax depreciation policy and the distinction between c …