Research Library

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.

Faculty scholar Jim Blackburn proposes a series of realistic ideas that can substantially reduce misery and damage the next time a catastrophic storm like Harvey tears through the Houston-Galveston area. 

Public finance fellow Joyce Beebe discusses state and federal legislation aimed at granting states greater authority to collect sales taxes on remote online sales, as well as obstacles to those efforts.

On March 28, 2017, Energy Dialogues organized an event co-hosted with Shell at the Shell Woodcreek Campus in west Houston in which participants from across the oil and gas sector engaged in discussions that centered on three themes: economy, environment, and coalition-building. This report summarizes the day's discussions.

In testimony before the U.S. House Budget Committee, public finance fellow John Diamond outlines steps to reduce projected federal expenditures and reform the U.S. tax system to maximize economic growth.

Public finance fellow Joyce Beebe outlines the benefits of paid family leave for U.S. families and society in general, examines the experiences of three states with paid family leave, and presents policy issues that should be taken into consideration to successfully craft a nationwide paid family leave program.

Since early 2014, Brazil has been in the midst of a political and economic crisis characterized by the impeachment of former President Dilma Rousseff, steadily worsening economic conditions, and an investigation into widespread corruption within the government and Petrobras, the state-owned oil company. Experts from the Latin America Initiative analyze different aspects of the current situation in the issue briefs listed below.

Since the first quarter of 2014, Brazil has been living in crisis mode as the result of a severe economic crisis in conjunction with an investigation into widespread corruption that has penetrated the highest offices in the government. Although the impeachment of Dilma Rousseff in 2016 did offer some hope for recovery, recent events demonstrate that Brazil's troubles are still ongoing. Contributing expert Sergio Fausto analyzes the main factors leading to this crisis and surveys the current economic and political situation.

With growing competition from abroad, the U.S. must reform its fiscal policy to reduce debt, maximize economic efficiency — including minimizing the distortions caused by the tax system — and maintain its areas of competitive advantage.

The federal government will need a nuanced approach to properly stimulate small business growth. However, a core focus should be on creating a level playing field for community banks to compete to provide small business loans.