Research
BPEA | 1986 No. 1Liquidity Constraints, Fiscal Policy, and Consumption
Kenneth L. Judd and
Kenneth L. Judd
Northwestern University
R. Glenn Hubbard
R. Glenn Hubbard
Dean and Russell L. Carson Professor of Finance and Economics
- Columbia Business School
Discussants:
Lawrence H. Summers and
Lawrence H. Summers
Charles W. Eliot University Professor and President Emeritus
- Harvard University
Robert E. Hall
Robert E. Hall
Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics
- Stanford University
Kenneth L. Judd
Northwestern University
R. Glenn Hubbard
Dean and Russell L. Carson Professor of Finance and Economics
- Columbia Business School
Lawrence H. Summers
Charles W. Eliot University Professor and President Emeritus
- Harvard University
Robert E. Hall
Robert and Carole McNeil Joint Hoover Senior Fellow and Professor of Economics
- Stanford University
1986, No. 1
TAX POLICY AND TAX REFORM are important items on the current policy
agenda. In evaluating alternative tax policies, decisionmakers must
consider both their normative and positive impact; in particular, they
must examine the effects of competing policies on the overall well-being
of the taxpayers and on various indexes of economic activity, in both
the short run and long run.