Now that the dividend tax reduction is law, Republicans are already beginning to discuss their tax plans for next year. Such a rapid change in focus is likely to become part of the landscape in ...

The Review of Economics and Statistics is an 84-year old general journal of applied (especially quantitative) economics. Edited at Harvard University's Kennedy School of Government, The Review has ...

Investment is a smaller but more volatile component of GDP than consumption. Drops in investment have tended to precede recessions, consumption doesn't always drop during recessions. Consumption ...

In this paper we examine a model of cointegration where long-run parameters are subject to switching between several different cointegrating regimes. These shifts are allowed to be governed by the ...