This paper lays out one potential step-by-step path toward decarbonizing Saudi Arabia, imagining a sweeping restructuring of a fossil fuel-driven society and economy.

To access the full working paper, download the PDF on the left-hand sidebar. 

I. Overview

H.R. 5376, previously known…

In this working paper, the author examines the economic effects of enacting a proposal by the Biden administration to tax long term capital gains at ordinary income tax rates for those with taxable income above $1 million and tax unrealized gains at the time of death for single (joint) filers with more than $1 million ($2 million) in unrealized gains. A similar version of the report was prepared with the financial support of the Center for Freedom and Prosperity Foundation.

Analysis of Federal Reserve survey data released in September 2020 shows that U.S. wealth inequality has declined for the first time in 30 years.

To avoid the resource curse, nonresident fellow Todd Moss proposes a direct cash dividend to drive macroeconomic benefit, alleviate poverty and create incentives that drive demand for transparency and sound management. This working paper is part of a series titled “The Role of Foreign Direct Investment in Resource-Rich Regions.”

This working paper explores the role of net operating loss carryforwards (NOLCFs) in the decision-making and valuation of large firms.

Since the progressivity of the sales tax is difficult to directly measure, this paper introduces an indirect approach combining simulated household income with realizations of consumption behavior from survey data.  

In an economy with heterogeneous firms and heterogeneous consumers, the authors describe a general equilibrium where firm equity is priced by a supply and demand process. With a model robust to arbitrary, nonlinear tax functions, they investigate the efficiency of replacing the current U.S. tax regime with a policy of no corporate taxes and taxation of capital distributions to the household at progressive personal income tax rates.

In this working paper, fellow John Diamond and Rice faculty scholar George Zodrow describe the Diamond-Zodrow model, which simulates the macroeconomic effects of corporate income tax reform proposals.